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Mortgage Survey: Higher Home Values = Higher Mortgage Knowledge (Sort Of)

Radian Guaranty, a mortgage insurer hired Harris Interactive to survey homeowners about the mortgage options at the time they purchased their homes. [Inman]. [1] “Harris Interactive conducted the online study Oct. 25-27, 2005, among a nationwide cross section of 2,003 U.S. adults aged 18 or older, of whom 1,310 own their current residence.”

Here are the key results and its pretty ugly:

Areas with higher housing prices in the Northeast and West had more informed borrowers: