DUBLIN, Oct. 10, 2023 /PRNewswire/ — In the wake of recent revelations, with digital lending emerging as a transformative force for the mortgage sector, the announcement of a new research report “Automation Generation United States 2023 – Mortgage Customer Acquisition in a Depressed and Digital-Driven Market” available on ResearchAndMarkets.com couldn’t be timelier.
As highlighted by a recent news article, the adoption of digital lending practices has been identified as not just a promising avenue, but a necessity, enabling a seamless transition from paper-based to digital processes. This transition offers multiple advantages including competitive differentiation, enhancing borrower experience, and most crucially, reducing origination costs.
In the ever-evolving mortgage landscape of the US, with challenges such as diminishing volumes, increasing 30-year interest rates, and a potential recession on the horizon, acquiring customers has become paramount for growth-focused companies. According to the Automation Generation United States report, the last year has seen the home-lending market grapple with interest rates soaring above 6%, triggering hesitancy among homeowners to migrate. With the dual factors of increased buying interest and limited homes for sale preventing prices from dropping, affordability remains elusive for many potential homeowners.
Furthermore, the report notes that with current mortgage rates, the majority of households no longer see refinancing as a viable option. Data from Black Knight indicates that by the close of Q1 2023, a staggering two-thirds of borrowers retained an interest rate below 4% on primary liens. The future seems bleak with minimal anticipation of rates dropping to these levels any time soon. Moreover, an impending recession, coupled with consumer sentiments not favouring purchases, has cast a shadow on the mortgage sector.
The implications of these factors? An unavoidably sluggish mortgage market with significantly fewer potential loan candidates than previous years. Enter “Automation Generation United States 2023.” This research report throws a lifeline to businesses seeking strategies to navigate these tough waters. It emphasizes the undeniable importance of lead-generation, equipping businesses with tools, insights, and strategies to not just survive but thrive.
For business entrepreneurs and managers seeking a clear path in these challenging times, this report serves as a roadmap. It provides an in-depth understanding of the dynamics of the current market and outlines actionable strategies to harness the power of digital lending and automation for customer acquisition. By embracing the methods recommended in this research, businesses can look to gain an edge, offering enhanced services to their customers, reducing costs, and bolstering their bottom line.
In conclusion, while the present scenario in the mortgage market presents significant challenges, it is also ripe with opportunities for those willing to adapt and innovate. “Automation Generation United States 2023” shines a light on the path forward, advocating the shift to digital lending as a way to circumvent current hurdles and chart a course for success.
For businesses keen on evolving with the times and capitalising on the digital wave, this report is a must-have resource.
For more information about this report visit https://www.researchandmarkets.com/r/wzzjgl
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SOURCE Research and Markets
