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Who Buys Source

In 2012, married couples accounted for 65% of home purchases. Single women bought 16% of homes, while single men made up 9% of the market. Unmarried couples accounted for 8% of sales, and 2% were listed as "other."

National Association of Realtors, 2013

According to research by the National Association of Realtors, first-time buyers accounted for 39% of the homes purchased in 2012, up from 37% in 2011.

National Association of Realtors, 2013

According to research by the National Association of Realtors, the median age of first-time homebuyers was 31 years in 2012, with a median household income of $61,800.

National Association of Realtors, 2013

Based on research by the National Association of Realtors, the typical repeat homebuyer in 2012 was 51 years old, with an income of $93,100.

National Association of Realtors, 2013

Homeownership in the U.S. decreased to 65.4% by the end of 2012, compared to 66.0% in 2011 and 66.5% in 2010.

U.S. Census Bureau, 2013

Homeownership rates in the U.S. at the end of 2012, according to age of householder: Under 25 years, 21.7%; 25-29 years, 34.3%; 30-34 years, 47.9%; 35-39 years, 56.9%; 40-44 years, 65.5%; 45-49 years, 69.9%; 50-54 years, 73.4%; 55-59 years, 76.2%; 60-64 years, 78.6%; 65+ years, 81.1%. 

U.S. Census Bureau, 2013

Homeownership rates in the U.S. at the end of 2012, by ethnic group: White (non-Hispanic), 73.5%; Black, 43.9%; Hispanic/Latino, 46.1%; Asian or Native Hawaiian/Pacific Islander, 56.6%; American Indian or Alaskan Native, 51.1%.

U.S. Census Bureau, 2013

Home ownership rates in the U.S. at the end of 2012, by location of residence: In central cities, 50.8%; not in central cities (suburbs), 72.6%; outside metropolitan areas, 73.4%.
 

U.S. Census Bureau, 2013

Profiling adults 18+ whose household obtained its first home mortgage in the past year, along with those households that have refinanced a mortgage or underwent a loan consolidation:

GfK MRI, 2012

Adults 18+ whose household obtained its first home mortgage in the past year, by age group: 18-24, 8.7%; 25-34, 28.0%; 35-44, 20.7%; 45-54, 22.3%; 55-64, 13.4%; 65+, 6.9%.

GfK MRI, 2012

Of those adults 18+ whose household obtained its first home mortgage in the last year, 55.6% were men and 44.4% were women.

GfK MRI, 2012

Adults 18+ whose household obtained its first home mortgage in the previous year, by income bracket: $100,000+, 40.7%; $75-99,999, 21.0%; $60-74,999, 11.7%; $50-59,999, 6.8%; $40-49,999, 8.2%; $30-39,999, 5.4%; $20-29,999, 3.5%; under $20,000, 2.7%.

GfK MRI, 2012

Adults 18+ whose household arranged its first home mortgage in the last year, by race: White, 82.1%; Black, 6.0%; Other, 11.9%; Hispanic origin, 10.9%.

GfK MRI, 2012

Adults 18+ whose household arranged its first home mortgage in the last year, by region: Northeast, 16.0%; Midwest, 22.1%; South, 38.8%; West, 23.1%.

GfK MRI, 2012

Adults 18+ whose household obtained its first home mortgage in the past year, by marital status: Single, 20.1%; married, 68.4%; separated/widowed/divorced, 11.5%.

GfK MRI, 2012

Of those adults whose households have refinanced their home mortgage or underwent a loan consolidation, 52.6% are women and 47.4% are men.

GfK MRI, 2012

Adults 18+ whose households have refinanced a home mortgage or experienced a loan consolidation, by age group: 18-24, 4.6%; 25-34, 16.4%; 35-44, 25.7%; 45-54, 26.9%; 55-64, 17.7%; 65+, 8.7%.

GfK MRI, 2012

Adults 18+ whose households have refinanced a home mortgage or underwent a loan consolidation, by income bracket: $100,000+, 45.6%; $75-99,999, 18.4%; $60-74,999, 14.1%; $50-59,999, 5.5%; $40-49,999, 4.8%; $30-39,999, 4.3%; $20-29,999, 4.7%; under $20,000, 2.6%.

GfK MRI, 2012

Adults 18+ whose households have refinanced a home mortgage or underwent a loan consolidation, by race: White, 85.6%; Black, 5.2%; Other, 9.2%; Hispanic origin, 7.7%.

GfK MRI, 2012

Adults 18+ whose households have refinanced a home mortgage or experienced a loan consolidation, by region: Northeast, 22.8%; Midwest, 26.0%; South, 29.5%; West, 21.7%.

GfK MRI, 2012

Adults whose households have refinanced their home mortgage or underwent a loan consolidation, by marital status: Single, 14.0%; married, 73.6%; separated/widowed/divorced, 12.4%.

GfK MRI, 2012

When They Buy Source

Percentage of new home sales, by month (2-year average, 2011-2012): January, 6.6%; February, 7.7%; March, 9.2%; April, 9.5%; May, 9.4%; June, 9.2%; July, 8.9%; August, 8.3%; September, 8.0%; October, 8.0%; November, 7.6%; December, 7.6%.

U.S. Census Bureau, 2013

Why They Buy Source

A late-2012 report by J.D. Power and Associates determined the four key factors that impact customer satisfaction in the mortgage origination experience: Application/approval process; loan representative; closing process; and contact procedure.

J.D. Power and Associates, 2012

According to a 2012 survey by J.D. Power and Associates, the four primary factors impacting customer satisfaction with loan servicing among home mortgage consumers are: Billing and payment process; escrow account administration; website; phone contact.

J.D. Power and Associates, 2012

Based on a survey of mortgage customers who refinanced in 2012, only 40% cited price as the main reason for choosing their lender. Other reasons commonly mentioned for selection included an existing relationship, previously being a customer, and referrals.

J.D. Power and Associates, 2012

How They Buy Source

The average nationwide sales price for an existing single-family home increased to an estimated $225,100 in 2012, compared to $214,000 in 2011 and $220,000 in 2010.

National Association of Realtors, 2013

The average price of a new single-family home in 2012 increased to $288,400, up from $267,900 in 2011 and $272,900 in 2010.

U.S. Census Bureau, 2013

States with the highest average closing costs (including origination and title/closing fees) on a $200,000 mortgage in 2012: 1. New York, $5,435; 2. Texas, $4,619; 3. Pennsylvania, $4,467; 4. Florida, $4,395; 5. Oklahoma, $4,352; 6. Hawaii, $4,269; 7. New Jersey, $4,075; 8. Louisiana, $4,046; 9. Massachusetts, $3,984; 10. District of Columbia, $3,952.

Bankrate.com, 2013

States with the lowest average closing costs (including origination, tltle/closing fees) on a $200,000 mortgage in 2012: 1. Missouri, $3,006; 2. Kansas, $3,193; 3. Colorado, $3,199; 4. Iowa, $3,257; 5. Arkansas, $3,325; 6. Indiana, $3,362; 7. Nevada, $3,414; 8. Washington, $3,418; 9. Maine, $3,458; 10. Alabama, $3,507.

Bankrate.com, 2013

What They Buy Source

Share of homes purchased in 2012, by category: Detached single-family home, 79%; condo, 8%; townhouse or rowhouse, 6%; other type of housing, 7%. 

National Association of Realtors, 2013

Where They Buy Source

The top 10 residential mortgage originators in the third quarter of 2012, based on total volume (totals in billions): 1. Wells Fargo & Company, $140.7; 2. Chase, $50.2; 3. U.S. Bank Home Mortgage, $22.6; 4. Bank of America, $21.2; 5. Quicken Loans, $20.1; 6. CitiMortgage, Inc., $16.6; 7. Flagstar, $14.5; 8. PHH Mortgage, $14.4; 9. Provident Funding Associates, $9.9; 10. Branch Banking & Trust, $8.2.

National Mortgage News, 2013

As of third quarter 2012, the top residential mortgage servicers, according to servicing volume (totals in billions): 1. Wells Fargo & Company, $1,879.3; 2. Bank of America, $1,462.8; 3. Chase, $1,056.5; 4. CitiMortgage, Inc., $474.6; 5. Ally Bank/ResCap (GMAC), $374.0; 6. U.S. Bank Home Mortgage, $259.9; 7. PHH Mortgage, $185.1; 8. Nationstar Mortgage, $158.9; 9. SunTrust Bank, $149.2; 10. PNC Mortgage, $134.9.

National Mortgage News, 2013

As of fourth quarter 2012, the top commercial lenders (volume in millions): 1. PNC Real Estate/Midland Loan Services, $6,943; 2. NorthMarq Capital, $3,090; 3. Walker & Dunlop, $2,900; 4. Grandbridge Real Estate Capital, $1,470; 5. Principal Real Estate Investors, $929; 6. M&T Realty Capital Corporation, $877; 7. Jones Lang LaSalle Operations, $548; 8. Colliers International - Boston, $154.

National Mortgage News, 2013

According to a 2012 survey of more than 3,500 new-mortgage customers, conducted by J.D. Power and Associates, Quicken Loans ranked highest in overall service among primary mortgage originators with a score of 817. Also finishing above the industry average of 761 were BB&T (Branch Banking & Trust) (791), U.S. Bank (784), Chase (776) and Sun Trust Mortgage (773).

J.D. Power and Associates, 2012

A 2012 survey of more than 5,600 home mortgage customers, conducted by J.D. Power and Associates, found that BB&T (Branch Banking & Trust) ranked highest in overall customer satisfaction among primary mortgage servicers with a score of 803 (on a scale of 1,000). Following BB&T in finishing at or above the industry average of 725 were Regions Mortgage (779), SunTrust Mortgage (758), Chase (752), PNC Mortgage (739), U.S. Bank (739), Wells Fargo Home Mortgage (738), Fifth Third Mortgage (736), and GMAC Mortgage (725).

J.D. Power and Associates, 2012

Business Trends Source

According to the Mortgage Bankers Association, the average contract interest rate for 30-year fixed mortgages backed by the FHA was 3.53% for the week ending March 8, 2013. The average contract interest rate for 15-year fixed-rate mortgages was 3.01%.

Mortgage Bankers Association, 2013

The share of overall mortgage applications attributed to refinancings was 76% for the week March 8, 2013, the lowest level since May of 2012, according to the Mortgage Bankers Association.

MBA, 2013

The average closing cost (including origination and title fees) on a $200,000 mortgage in 2012 was $3,754, a 7.4% decrease from 2011.

Bankrate.com, 2013

A study by the Mortgage Bankers Association found that just 5% of mortgage applications made during the week ending March 8, 2013, involved adjustable-rate stipulations.

MBA, 2013

The National Association of Realtors predicts that sales of existing homes (including single-family properties, condos and co-ops) will rise 9.1% in 2013 to 5.073 million residences, and climb another 5.9% in 2014 to 5.371 million. The NAR expects sales of new homes to jump 42.2% in 2013 to 520,000 units, before increasing another 41.9% to 738,000 in 2014. Housing starts are forecast at 1,118,000 in 2013, 43.2% above 2012, before gaining another 23.8% in 2014 to 1,384,000.

National Association of Realtors, 2013

Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $2,465 on each loan they originated in the third quarter of 2012.

Mortgage Bankers Association, 2012