Men More Likely Than Women To ‘Push The Envelope’ On Home Financing

Posted by Patrick Barnard on June 07, 2013 No Comments
Categories : Residential Mortgage

Following the release of a report from Experian showing that women are more conservative than men when it comes to managing debt, a recent Harris Interactive study shows that men are more willing to ‘push the envelope’ when it comes to home financing.

According to the survey, men are twice as likely as women to indicate that they know their finances are shaky, but still think they can swing buying a home. This is even more pronounced when comparing men and women aged 18 to 34 (17% and 6% respectively).

Among Americans in the same age range, a total of 41 percent (46% men and 36% women) have an interest in buying a home this year, the survey reveals.

A related survey conducted by mortgage shopping service MortgageMarvel.com shows that a strikingly high number of people shop and apply for mortgages online while they are at work.

According to the survey, about 60% of mortgage applications are submitted between the hours of 7 a.m. and 6 p.m. weekdays, indicating that a high number of borrowers are shopping during regular business hours. Only 15% of applications come in on a Saturday or a Sunday, the survey finds.

The MortgageMarvel.com survey also shows that 62% of people who apply for a mortgage online complete their application in only one session.

The survey is based on an analysis of 650,000 online applications to more than 1,100 U.S. lending institutions during 2012.

Register here to receive our Latest Headlines email newsletter




Leave a Comment