June 7, 2006
Online Mortgage Shoppers' Paths To Purchase
Navigational And Survey Data Uncovers How Prospects Use Web Sites
This is the first document in the "How Consumers Use Financial Sites" series.
with Bruce D. Temkin, Peter Hult
Executive Summary (This is a document excerpt)
Forrester examined how consumers use top mortgage Web sites and search engines in their search for a mortgage, analyzing the content, tools, and sales channels that lead to the highest conversion rates. What did we find? Traditional lenders like Citi and Washington Mutual have a lot to learn from their online peers when it comes to selling mortgages online. Loan aggregator sites like LendingTree and LowerMyBills.com attract hundreds of thousands of mortgage prospects per month, and direct lenders like Quicken Loans are tops at converting prospects into applicants. Lenders looking to attract and convert more lending prospects should evaluate their use of search engines, offer easy access to rates and fees, and provide selection tools for choosing the right mortgage.
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Forrester analyzed navigational and survey data provided by Compete from its panel of 2 million US consumers. Related Research Documents
June 10, 2005, Trends
May 17, 2005, Trends
November 17, 2003, Business View Brief |
Understanding How Online Consumers Select Mortgages
Online Mortgage Shoppers Don't Complete Many ApplicationsFind Documents In Related CategoriesThis document falls under the following categories. Click on a link below to find similar documents. |
Original air date: Tuesday, June 30, 2009
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