What Online Mortgage Shoppers Want

By Martin Lukac

The Real Estate industry is a multi-billion dollar industry. The mortgage industry is a trillion dollar market. Millions of people are out there searching for a mortgage right now. Billions of dollars worth of mortgages are found on the internet each year.

But how are consumers using the internet to find mortgages?

Mortgage shopping consumers are looking for bottom line information, such as mortgage programs and interest rates, according to comScore Networks Media Metrix service, a consumer behavior research firm the measures Internet usage. The majority of mortgage shoppers are looking for rates through search engines.

In 2004 alone, there were over 5 million mortgage related searches conducted. The top ten search queries included the terms “mortgage,” “mortgage rates” and “mortgage companies.”

Consumers are often overwhelmed by the number of sites on the Internet that are devoted to mortgage information. Many of the sites offer outdated information and inaccurate rate reports. First-time home buyer Cory Jones, an executive in Nashville, TN, expressed his aggravation in searching for favorable mortgage rates on the internet.

“When I first started looking for the best mortgage rates for my financial situation, I didn’t expect to have to search so many sites,” said Jones who recently purchased a home with a 30-year fixed rate mortgage.

Jones is joined by many other consumers, trying to wade through the hundreds of sites that pop up with a “mortgage rate” search. That’s where innovative thinking has improved the mortgage search to a more defined and accurate process.

One of the newest mortgage sites to improve of the mortgage search, RateEmpire.com is a small search engine company that specializes in bringing mortgage rates to consumers, quickly and accurately.

RateEmpire.com offers its Mortgage RateTake as an innovative way to search for mortgage rates. RateTake searches its participating lender’s websites for mortgage rates and automatically reports them on the RateEmpire site. Consumers are able to receive the latest rates without lenders having to list their rates daily.

Rates are updated every 10 minutes. When a lender updates or refreshes their rates, these newest rates will appear at the top of the search list. This gives consumers the newest and most accurate rates available.

Traditionally, lenders have to go into the sight that is promoting their rates and download their newest rates manually themselves. RateEmpire.com founder, Martin Lukac, realized that by using technology to eliminate the need for manual updates, not only were lenders able to effortlessly have their rates kept current, but consumers also benefited.

“Consumers no longer need to search multiple pages to find the information they are searching for,” explains Lukac. “We strive to bring the best mortgage solutions to lenders, brokers and customers through one, and only one, website.”

There are over 100,000 mortgage-related websites on the Internet. New technology and innovated ideas have led consumers to many ways to avoid having to search through most of the sites to find what they are looking for. Finding accurate information and up-to-date rates is possible through new sites such as RateEmpire.com. Both the consumer and the lender can be brought together faster and with increasingly positive results.

Martin Lukac, represents http://www.RateEmpire.com, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! Visit http://www.RateEmpire.com today.

Article Source: http://EzineArticles.com/?expert=Martin_Lukac

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