Buyers & Mortgages

Deciphering How Homebuyers Shop For A Mortgage

July 5, 2016  |  by Ellen

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As news of lower mortgage rates hits the wires, there’s some recent data from the University of Michigan that sheds light on how those looking to buy a home also go looking for a mortgage. According to the study, the vast majority of homebuyers spend less than a month shopping for a mortgage and only a third of them file a single application. The study also ranked the reasons why borrowers decided on the mortgage they eventually went with–everything from interest rates to recommendations from a real estate agent made the ranking. You can see the full list in this shareable infographic from HousingWire.

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