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Share Name | Share Symbol | Market | Type |
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Toronto Dominion Bank | TSX:TD | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-4.64 | -5.84% | 74.80 | 74.80 | 74.82 | 79.80 | 74.03 | 79.41 | 14,822,963 | 21:27:31 |
CHERRY HILL, N.J., April 25, 2016 /PRNewswire/ -- American home-buying experiences are improving, according to TD Bank's fourth annual Mortgage Service Index. A whopping 71 percent of homeowners rated their most recent buying experience as "very good" or "excellent," up almost 10 percent in the past two years, despite a more time consuming mortgage process.
The Mortgage Service Index polled more than 1,300 American homeowners, who took out a home mortgage during the last 10 years and asked about their experience including, what factors helped them purchase a home.
The findings revealed that, even with new loan and closing disclosures forms, home buyer experiences are improving, and homeowners are leveraging creative ways to finance their home purchases.
Home Buying Sentiment
While sentiment is on the rise, significant stress factors remain.
Positive Home Buying Experience, But There's Room for Improvement
Year-over-year, homeowners are relying more on their lenders' expertise, but there's still room for improvement.
"Our data demonstrates that home buying sentiment is improving, but lenders still need to adopt a more omnichannel approach to providing financial guidance and expertise," said Kevin Gillen, senior vice president of Mortgage at TD Bank. "Consumers should find a lender who can educate and support them on all aspects of the mortgage process. By understanding the process they will enjoy a more positive home-buying experience."
Homeowners Leveraged Unconventional Strategies during the Mortgage Process
New resources and lending options such as first-time home buyer loans and affordability programs allowed buyers to make down-payments of less than 20 percent.
"With today's increasing home prices and the anticipated rise in interest rates, choosing a first-time mortgage or affordability program can be a great way for consumers to enter the housing market," said Gillen. "TD Bank continues to make financing more manageable by offering flexible loan options to buyers at all income levels. Buyers embarking on homeownership should understand that finding a lender that provides ongoing communication and diverse loan options is critical to a smooth, low-stress home purchase."
Additional highlights from the TD Bank Mortgage Service Index are available at: https://mediaroom.tdbank.com/msi2016.
Survey Methodology
The study was conducted among a nationally representative group of consumers from March 23 – April 1, 2016. The sample size of 1,305 has a margin of error of +/- 2.7 percent. Data has been weighted by age, gender and region to reflect the populations. The survey was hosted by research company MARU/VCR&C.
About MARU
MARU/VCR&C, formerly the Research & Consulting division of Vision Critical, is a professional services firm dedicated to improving its client's business outcomes. We deliver our services through teams of sector-specific research consultants that have technology in their DNA, specializing in the use of Insight Community and Voice of Market technology. Our research drives decision making across all aspects of customer experience, including innovation, product, branding, commercialization and communications.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/td-bank-mortgage-service-index-finds-home-buying-sentiment-continues-to-rise-but-barriers-remain-300256431.html
SOURCE TD Bank
Copyright 2016 PR Newswire
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