Indicators that Digital Mortgage Adoption is Accelerating | Part One: Increasing Use of Digital Mortgage Application Platforms
While mortgage purchase origination dollar volume is down, application volume hit its highest level in 9 years last month due to dips in interest rates combined with wage gains and home price deceleration.
There are also clear signs that the industry and the borrowers we serve are increasing adoption of digital mortgage technologies to streamline processes, which is key to bringing down the rising costs of loan origination. Of course, that’s not why borrowers are embracing it. For consumers, it’s all about a speedy close.