High mortgage rates and low inventories have increased stress for homebuyers through sticker shock, rate volatility, bidding wars, negotiations, and the mortgage process. Lenders can improve borrower experience by understanding buyer needs and taking action that exceeds expectations rather than competing only on rate. A 2026 ServiceLink State of Homebuying Report compiles perspectives from more than 1,500 U.S. residents who bought homes in 2024 or 2025, plus over 500 loan officers. The housing market remains urgent due to fast-shifting mortgage rates and intense competition, pushing buyers to make quick decisions. Buyers want momentum through a streamlined mortgage process that reaches closing quickly with minimal complexity. Many expect very short closing timelines, including two weeks or less, and similar speed expectations for home equity and refinance closings.
"Overall, 35% of the homebuyers surveyed for the State of Homebuying Report said they would expect to close in two weeks or less on a future home purchase, 36% in three to four weeks and 19% in one to two months. And the desire for speed isn't exclusive to the home purchase process. Respondents expect speed during home equity and refinance closings, too."
#mortgage-lending #homebuying-experience #housing-market-urgency #borrower-expectations #loan-officer-insights
Read at www.housingwire.com
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