Which institutions do Americans trust least in 2014? According to the Harris Poll, trust in Congress is waning – 72 percent of American adults reported a decline in trust over the past few years. The White House has also experienced a major deterioration in trust with 53 percent of people reporting that they trust it less than before.
Considering the magnitude of the financial crisis and property slump, it comes as little surprise that trust levels in financial institutions have also plummeted. Mortgage lenders have done especially badly in the trust stakes, along with banks. This stems from personal experience coupled with quality, service and poor customer care, according to the Harris Poll.
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Statistics and facts on the mortgage industry of the United States
The mortgage industry of the United States has gone through several distinct phases of evolution that have allowed it to reach its current status as the largest and most complex home-financing market on the planet. A mortgage industry overview in the United States is indicative of the vast scale of its mortgage sector, a status that has not always served as a badge of honor for the country. The fact that it was the U.S. subprime mortgage crisis that set the stage and conditions that led to the financial turmoil and subsequent recession of 2008 is, after all, well documented.
Forecasts, statistics, and estimates relating to the direction in which the mortgage market has been moving since the crisis of 2008 have been mixed and continue to be despite the emergence of a recovery in the sector; banks once again begin to lend, interest rates fall, consumer confidence increases and people once again feel secure enough to spend and invest. Industry trends and forecasts from 2013, especially with regards to the construction sector, are all pointing towards a recovery; as the 2013 rates for new house starts and total home sales continue to show. Estimates for 2014 are anticipated to be even more positive.
You will find more statistics at Statista