by Sarah Shahdad and Qiang Cai Economic & Strategic Research
Prospective homebuyers must navigate the complex process of obtaining a mortgage. Research and consumer guidance suggest that obtaining multiple mortgage quotes and being better informed may help borrowers get a mortgage with a better set of financial terms. Improved borrower outcomes also may benefit lenders in the form of increased customer satisfaction and retention.
By analyzing Fannie Mae's National Housing Survey™ data, we find that when controlling for multiple variables, our sample of recent Fannie Mae homebuyers' key shopping experiences and behaviors are most highly associated with ...Read more »