California Has Most Purchase Mortgage Loan Inquiries And Highest Average Budgets In Q1 2019

July 15, 2019 Charlene Sterphone

California topped the list of states generating purchase loan inquiries in 2017, 2018 and Q1 2019, and also had the highest average mortgage budgets in Q1 2019, according to the Q1 2019 Purchase Mortgage Consumer Profile Report published by DMS Consumer Finance. California represented 9.2% of the purchase loan inquiry share of volume (SOV) in Q1 2019, while the top ten states for purchase loan inquiries collectively held a 55.4% SOV of all purchase inquiries, up from 52.6% in 2018 and 52.9% in 2017.

The West Has The Highest Average Mortgage Budgets In Q1 2019

Fueled by California’s high budgets, the West had the highest average purchase mortgage budgets in the U.S. in Q1 2019, followed by the Northeast. The South and the Midwest had the lowest average purchase mortgage budgets. This regional ranking echoes Q1 2019 trends reported by the National Association of Realtors (NAR). According to NAR, the median existing single-family home price was highest in the West at $384,300, up 3.5% year-over-year (YOY), followed by the Northeast at $277,200, up 3.7% YOY. The South was ranked third at $225,700, up 2.5% over the previous year, and the Midwest was last at $194,100, up 3.9% from the prior year. Download the Q1 2019 Purchase Mortgage Consumer Profile Report for more details on purchase mortgage trends.

Eight Of The Top Ten States With Highest Average Budgets Also Have Highest Average Listing Prices

Dominated by coastal areas, the top ten states with the highest average mortgage budgets in Q1 2019 were California, Massachusetts, Washington, Hawaii, Maryland, Colorado, Oregon, Utah, New York and Rhode Island. Eight of these top ten states (all except Maryland and Rhode Island) also have the highest average listing prices, according to Zillow data compiled by Business Insider. Download the Q1 2019 Purchase Mortgage Consumer Profile Report for more details on purchase mortgage trends.

Download The Q1 2019 Purchase Mortgage Consumer Profile Report Today

Featuring state and credit score trends for the purchase mortgage market, top consumer segments and more, the Q1 2019 Purchase Mortgage Consumer Profile Report highlights purchase mortgage market audience trends for the period of January 2017-March 2019, with an emphasis on January-March 2019.

About the Author

Charlene Sterphone, Director of Marketing A focused and highly motivated creative thinker, Charlene Sterphone develops, executes and reports on strategic marketing programs surrounding lead generation, paid search, email, social media, mobile targeting, SEO and compliance as Director of Marketing for Digital Media Solutions (DMS). Throughout her diversified marketing career, Charlene has spent time in both the agency and direct corporate and start-up settings, including positions at Sparkroom, Education Dynamics and CBS Corporation, where she has seen success with digital and traditional marketing campaigns. As an analytical marketer, Charlene enjoys discovering new and innovative tools and techniques and using them to drive growth.
More Content by Charlene Sterphone

Consumer Finance Advertising News

California Has Most Purchase Mortgage Loan Inquiries And Highest Average Budgets In Q1 2019

The West Has The Highest Average Mortgage Budgets In Q1 2019

Eight Of The Top Ten States With Highest Average Budgets Also Have Highest Average Listing Prices

Download The Q1 2019 Purchase Mortgage Consumer Profile Report Today

About the Author

Previous Article

Next Article

California Has Most Purchase Mortgage Loan Inquiries And Highest Average Budgets In Q1 2019

The West Has The Highest Average Mortgage Budgets In Q1 2019

Eight Of The Top Ten States With Highest Average Budgets Also Have Highest Average Listing Prices

Download The Q1 2019 Purchase Mortgage Consumer Profile Report Today

About the Author

Previous Article

Next Article

Other content in this Stream

Joey Liner, Chief Revenue Officer of DMS, highlights how mortgage marketers can leverage digital performance marketing and advertising strategies to fill their pipelines throughout 2021.

Digital Media Solutions and Jornaya recently partnered to host a webinar on “How To Engage The Digital Window Shopper.”

Appliance brands effectively deploy digital strategies to capitalize on a hot renovation market.

Even with interest rate fluctuation, 2021 is expected to be another strong year for refinance loan volume.

By implementing digital strategies across their first-party channels, major mortgage brands are poised to engage and convert homeowners seeking refinances in 2021.

Pay-for-performance advertising is a solution to today’s advertising attribution and ROI challenges.

Life insurance sales are on the rise, facilitated by the desire of younger consumers to protect their families and the digital strategies that appeal to them.

Recent mortgage borrower data indicates that Millennial consumers are the leading segment driving the refinance loan volume this year.

Many Black-owned businesses have pivoted to create meaningful content and digital solutions – and share their expertise – during unprecedented circumstances.

As the home renovation uptick continues, kitchen appliance brands are adopting digital strategies to make online shopping and browsing easier for consumers.

Walmart recently announced the launch of a new fintech startup that will offer modern, innovative and affordable financial solutions.

Consumer demand for personal loans is expected to hit its peak in early Q1. Here are five recommendations for personal loan brands to consider when launching advertising strategies.

A digital ad tax is being debated in Maryland, with opponents concerned about the impact of the tax on advertising revenues.

Tax preparation brands that offer seamless services and create funny, relatable advertising are likely to appeal to taxpayers this year.

While homeowners have been a key demographic among auto insurance advertisers for many years, it's vital that car insurance brands develop a keener understanding of the growing non-homeowner audience.

COVID-19 accelerated major shifts in consumer finance behaviors, needs and preferences. Here are the articles related to trends in consumer finance advertising published by DMS Insights in 2020.

Many brands use both traditional digital advertising and performance advertising in multichannel digital campaigns, but each strategy offers different benefits.

Financial brands and fintech apps like Chase, Step and Mozper create lasting relationships with Gen Z to build loyalty with their parents.

The House Judiciary Committee recently introduced sweeping antitrust reforms that could break up big tech, impacting companies including Amazon, Google and Facebook.

The pandemic continues, but consumers are weary of the same crisis-themed ads. Innovative campaigns are driving engagement by taking a lighter tone and supporting communities and causes.