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TD Bank Unveils Mortgage Service Index To Evaluate Consumer Experiences With Home Financing

Other Key Findings From the Mortgage Service Index Include:

  • On average, home buyers considered approximately two banks or lenders when applying for a mortgage
  • The majority of those surveyed (47 percent) obtained a mortgage at a bank where they did not have an existing account
  • 82 percent of those surveyed feel that right now is a "very good" or "good" time to purchase a home, with 90 percent expecting the housing market to "stay the same" or "improve" over the next six months
  • An equal number of those surveyed (43 percent) obtained information on the lending process from their bank and from their Realtor, demonstrating that Realtors are used as informative resources by consumers during the mortgage process
  • Only 34 percent of home buyers obtained a mortgage at their primary bank
  • 80 percent of those who had a positive home buying experience felt that they had an "excellent" or "very good" experience obtaining a mortgage, while just 39 percent of those with a poor home buying experience felt the same

Survey Methodology The study was conducted among a nationally representative group of consumers from March 6-11, 2013. The sample size of 1,519 has a margin of error of +/- 2.5 percent. The survey was hosted by global research company Angus Reid Public Opinion.

About Angus Reid Public Opinion Angus Reid Public Opinion is the Public Affairs practice of Vision Critical—a global research company. Vision Critical is a leader in the use of the Internet and rich media technology to collect high-quality, in-depth insights for a wide array of clients.

About TD Bank , America 's Most Convenient Bank ® TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing nearly 8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth ®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDMoneyLoungeUS and on Twitter at www.twitter.com/TDBank_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit www.td.com.

SOURCE TD Bank

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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