Prime Lending commissioned an online study and media campaign, exploring what Americans understand about mortgages and lending. We crafted a data-driven news story from research findings and secured extensive media coverage for the brand.
Campaign
We conducted an online poll of 2,000 Americans to test their knowledge of both the housing market and financial lending industry.
Only 49% of respondents chose the correct definition of “mortgage” from a list of options. And almost one in five (18%) admitted they weren’t sure what kind of minimum down payment is needed to purchase a home.
The study of homeowners and non-homeowners revealed that a number of misconceptions still persist around mortgages and lending, and also highlighted the different attitudes between age groups.
The average American homeowner remains cautious about borrowing money from financial institution.
Only 42% of homeowners polled used a mortgage to finance their home; 48% used cash, and less than a tenth inherited their home from a family member.
Millennial homeowners aged 26-40 were far more likely to purchase their houses outright or with cash (55%), while baby boomers aged 57-75 more commonly preferred to take out a mortgage (37%).
Results
As well as providing valuable insights into consumer attitudes, the research formed the basis of a timely and newsworthy story with an attention-grabbing headline, “Half of Americans has no idea what a mortgage actually is”.
We crafted and distributed the data-driven news story, with accompanying graphics. The campaign earned over 100 pieces of coverage across high ranking national, regional and consumer press.
101 pieces of coverage hits across sites with 8.3 million estimated views, and broadcast coverage with over 2 million national viewership.
Coverage Highlights
Take a look at more earned media coverage our data-driven stories have secured for brands and organizations in the finance sector.
Interested in conducting research and creating unique stories and content for your brand or client? Our survey-led news stories deliver extensive earned media coverage, with guaranteed results. Let’s talk.
