Is the Internet the #1 Tool for Mortgage Research?
Posted on | December 31, 2008 | 4 Comments
I will be the first to admit that my adult life has been greatly altered by the internet. It is almost hard to imagine calling the theatre for movie times or contacting a restaurant to acquire hours of operation. I certainly cannot imagine having to balance my finances without internet assistance; I am the world’s worst at balancing a checkbook. With that in mind, I ask you; is the internet the #1 tool for mortgage research?
The one industry that has been extremely slow with adapting to the internet is the real estate industry. When searching for homes for sale, one must go through hoops just to find a price quote. Not only that, the quotes are never updated in real time. As my generation starts getting more involved in the real state industry, I am sure this will change drastically.
Although it is hard to find real estate prices on the internet, something that is extremely easy to find is mortgage rate quotes. Mortgage rate quotes are updated by the minute on several sites and if you search mortgage rate quotes on google, 664,000 results appear, of which, at least the first 50 will give you a rate quoted as of today! With this knowledge, is the internet YOUR #1 tool to do mortgage research? If not, what is?
Some good resources include:
Freddie Mac Commentary - A weekly and monthly commentary of key housing trends
Homethinking Mortgage Research – Browse actual mortgage application data
BankRate – All the rate information you could ever need
Yahoo! Real Estate – A great tool for research and search
Zillow - Probably the best estimate of home values, as a whole, on the internet
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4 Responses to “Is the Internet the #1 Tool for Mortgage Research?”
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December 31st, 2008 @ 7:00 pm
[...] and go to the next one on the search engine listing. You have just mislaid a sale. Search engines Is the Internet the #1 Tool for Mortgage Research? – subprimeblogger.com 01/01/2009 I will be the first to admit that my adult life has been greatly [...]
December 31st, 2008 @ 7:18 pm
[...] Random Feed wrote an interesting post today onHere’s a quick excerptI will be the first to admit that my adult life has been greatly altered by the internet. It is almost hard to imagine calling the theatre for movie times or contacting a restaurant to acquire hours of operation. I certainly cannot imagine having to balance my finances without internet assistance; I am the world’s worst at balancing a checkbook. With that in mind, I ask you; is the internet the #1 tool for mortgage research? The one industry that has been extremely slow with adapting to the [...]
January 1st, 2009 @ 5:00 pm
Be careful looking on line for a mortgage. Most of them are brokers and you will be charged some hefty fees and not have access to special local programs. It’s not all about the lowest rate. Look at the APR, which is the total cost of the loan and includes all fees. (Realtor)
January 24th, 2009 @ 3:20 pm
Nice job. I completely agree with you.