The July 2024 report analyzes survey data from recent U.S. mortgage borrowers to understand lender choice, application channels, and satisfaction drivers. Most prefer getting mortgages from their primary financial institution, with interest rates, fees, loan terms, convenience, speed, and lender reputation as top decision factors. In-person applications are most common, followed by phone, mixed channels, websites, and mobile apps. Borrowers report high satisfaction with communication, digital options, transparency, and timelines. To win millennials, lenders should focus on competitive pricing, strong reputations, seamless digital experiences, and personalized service.

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