Lack of Mortgage Savvy May be Stifling Homeownership

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Posted To: MND NewsWire

Fannie Mae’s monthly National Housing Survey consistently shows that the vast majority of Americans would prefer to own rather than rent a home but are uncertain or mistaken about what qualifications are necessary to get a mortgage. Now the company has reprised a 2015 survey exploring that knowledge gap and found, after questioning more than 3000 respondents, things haven’t improved much since the initial study. Mark Palim, Fannie Mae Vice President and Deputy Chief Economist and Sarah Shahdad, a Market Insights Researcher write in a new research brief that this lack of accurate information may be discouraging willing and qualified Americans from pursuing homeownership, but may also provide an important opportunity for lenders and other mortgage market participants to utilize more effective…(read more)

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