The mortgage industry has been pretty quiet the last few years…but we are finally seeing a resurgence in direct mail in this sector.
The release of the 2014 National Housing Survey and Analysis by Fannie Mae provides a tremendous amount of information for loan originators…but the key finding is that financial education, awareness, and messaging is critical to encourage refinancing.
The Study researched the different variables that come into play during a consumer’ decision to refinance - including life cycle, opportunity and risk mitigation.
The truth of the matter is that the overall picture for the refinance market is not as rosy as it once was, however a clear picture of the best candidates for Refinancing has emerged. By focusing on those households most likely to refinance, Smart Mortgage Marketers can still prosper in an otherwise difficult market.
According to the most recent statistics and analysis by Fannie Mae, The most likely candidates for Refinancing are Married Homeowners over 40 with at least some college education and an income of $50,000 + up who have resided in their home between 6 & 15 years and who have not refinanced in the past three years.
Sometimes in the world of listology, you need to put a lot of variables into the blender and turn it on to see what comes out. But mortgage marketers need to remember that it’s not just the list, but to understand what offers will resonate for today’s Refinance hopefuls.
