Dublin, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The "Engaging the Digital-First Homebuyer in the U.S 2023" report has been added to ResearchAndMarkets.com's offering.
The mortgage industry is not synonymous with technological innovation. Its cyclical nature affects the willingness of companies to invest in cutting-edge technologies. When the lending environment is booming, lenders don't have time to adopt new software, but when things are slow, they don't have the means to do so. That's definitely the case at the moment. The lending environment is currently under immense pressure, with mortgage originations predicted to amount to just $1.79 trillion this year, down from a record of $4.37 trillion in 2020.
Homebuyers don't want to wait, however. They are doing a significant amount of pre-home shopping legwork online and a solid online, digital-forward experience has become an expectation rather than a nice-to-have. In order to compete for the few housing deals that are happening, lenders can't pause digital upgrades.
That digital orientation has limits, however, as we'll see, and borrowers still want the human touch. Just as they tend to want to see homes in person and work with a real estate agent face to face, they also want to have access to a person for this major transaction. Will that change as they experience artificial intelligence and natural language processing tools in other contexts? It's not clear yet, but it is clear that technology's role is still evolving.
Key Topics Covered:
- Introduction
- Key findings
- Research methodology
- Strong online pre-purchase support has become required
- Balancing technology with the human element
- The challenge of personalization
- Easy on the AIs
- Conclusions
For more information about this report visit https://www.researchandmarkets.com/r/4rx6fq
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