Survey: Americans apply for mortgages 24/7 | Cross River Real Estate

Time is money, and more Americans are adjusting their schedules to complete tasks at the most convenient time.

The mortgage space is just one of many industries adapting to this reality.

In an analysis by Mortgage Marvel of more than 650,000 online applications submitted to 1,100 lending institutions, it became clear that more people are applying for mortgages at all hours of the day, including the workday.

Technology has come a long way, allowing people to do almost anything from almost anywhere.

The survey found that in 2012 only about 15% of applications came in on Saturday or Sunday. This means more people are conducting business remotely during the hectic work week.

Additionally, of the applications coming in during weekdays, about 60% are submitted between the hours of 7 a.m. and 6 p.m., Mortgage Marvel said.

Rick Allen, chief operating officer of Mortgage Marvel, said, “Technology has given us more flexibility in all aspects of our lives. People appreciate being able to complete an application on their schedule and at their pace.”

He added, “We expect the number of online applications to continue to grow for many years to come.”


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Survey: Americans apply for mortgages 24/7 | Cross River Real Estate.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758
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