The results of the 2025 Consumer Mortgage Experience Survey, commissioned by Solidifi U.S. Inc., indicated there is plenty of “pent-up” demand for housing once the rate environment normalizes.
Despite continued affordability challenges, 60 percent of survey respondents indicated they planned to make a real estate move within the next three to five years, according to the survey. Half of the participants said they planned to refinance when rates ease.
Solidifi President Loren Cooke found the results encouraging and indicative of opportunities for lenders with the ability to develop strong relationships with customers interested in exploring their options.
“Our 2025 survey results highlighted a significant market opportunity ahead,” Cooke said in a press release. “Even in a challenging market, Americans continue to aspire to homeownership – not just as a financial investment, but as a way to build stability, comfort and connection. The key for lenders is to be ready – by delivering extraordinary experiences that foster trust, loyalty and long-term relationships.”
With mortgage rates well above 6 percent and elevated home prices remaining, many consumers have been left on the sidelines. However, Solidifi said that the survey results indicate that “pent-up demand is expected to fuel market activity as conditions normalize over the next 18 months.”
The company also released results from its 2025 Future Plans of Homeowners Survey, which included a focus on affordability, exploring how market conditions influence borrowers’ future real estate plans.
These survey results showed that, despite economic concerns, homeownership has become increasingly important to consumers, especially among younger generations who are also concerned about the true cost of homeownership.
Cooke suggested lenders recognize the need for industry professionals who can provide potential future homeowners with the guidance they need to account for the expenses associated with homeownership.
“For seven years, our research has underscored one clear truth – the best experiences blend human experiences with technology,” Cooke said. “Solidifi has long paired its proprietary platform with trusted professionals to deliver transparency and confidence. Now, with AI (artificial intelligence) and data innovation, we can take those extraordinary experiences even further.”
The following are some key findings from both surveys:
- Refinance activity pivots to necessity: Driven by higher consumer debt, the results indicate that consumers’ focus when refinancing has shifted from rate-term savings to debt consolidation and liquidity solutions through home equity extraction.
- Timing remains the biggest hurdle for buyers: Nearly 65 percent of future buyers said they intend to purchase within one to three years, but affordability continues to delay such plans. This could point to a possible surge when rates ease, according to Solidifi.
- Homeownership costs often exceed expectations: More than 70 percent of homeowners, including first-time buyers, underestimated ownership costs, emphasizing the need for clearer financial guidance.
- Loyalty continues to strengthen: In 2025, consumers indicated they were more likely to act on positive experiences with a brand. By consistently delivering such experiences, lenders can strengthen relationships and secure future business.
- First-time homebuyers seek empathy and ease: Consumers indicated they value trustworthy guidance, transparent communication and a personal touch that make the process seamless and supportive – while reducing stress and building confidence.
- In-person experiences remain preferred: Despite the increasing popularity of digital platforms, for the seventh year, borrowers reaffirmed that face-to-face appraisals and closings build the greatest trust, especially among first-time homebuyers. However, digital tools have continued to gain traction for their transparency and convenience, the results indicated.