Who typically uses the primary mortgage market?

The primary mortgage market is primarily utilized by individuals who are looking to secure financing for purchasing homes. This market comprises lenders, such as banks and mortgage companies, that offer loans directly to borrowers. When a homebuyer approaches a lender to obtain a mortgage, they are participating in the primary mortgage market. In this context, the focus is on lending to consumers for residential purchases, making it a crucial component of the home buying process.

The primary mortgage market facilitates the direct exchange between borrowers seeking capital to buy a home and lenders who provide that capital in the form of loans. This interaction typically involves various mortgage products that cater to different buyer needs, such as fixed or adjustable-rate mortgages, along with specific terms and conditions suited to the borrower's financial situation. Therefore, it is correct to say that this market serves individuals wanting to secure purchases of homes, as it directly links those in need of financing with those providing it.