October 14, 2005

Why Mortgage Brokers websites are up, while Online Property drops

A journalist from the Australian posed an interesting question this week..

Hits to websites of mortgage brokers or loan aggregators and non-bank lenders have grown 20.2 percent in the year to September which was significantly higher than the growth in traffic to Banks and Financial institutions.

At the same time hits to property sites overall has dropped off significantly. Why would those figures be going in different directions?

Simple answer - refinancing. Mortgage brokers, such as Wizard and Aussie Home loans, are enticing users to switch finance providers. Users aren't necessarily looking for new loans, rather cheaper ones.

A colleague of mine, Alex Avery, made the observation that home owners are furthermore refinancing to raise equity for liquid investments such as stock. We've also noted an increase in visits to Building and Construction websites by 11.2% to the year September 2005, presumably as home owners refinance to spend on renovations.

Posted by Sandra Hanchard at 04:57 PM

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