Skip to main content

New Study Examines Online Mortgage Buyer Behavior

Nov 14, 2018
Israeli-paid search startup Natural Intelligence has announced its expansion into the U.S. Natural Intelligence is already one of Google’s top advertisers

Israeli-paid search startup Natural Intelligence has announced its expansion into the U.S. Natural Intelligence is already one of Google’s top advertisers.
Israeli-paid search startup Natural Intelligence has announced its expansion into the U.S. Natural Intelligence is already one of Google’s top advertisers
 
The headquarters is in Tel Aviv and the expansion is due to the high growth of the company and more than 90 percent of its customers in the U.S. Natural Intelligence has figured out how to identify customers with the highest intent to purchase and match it with top paid search results rankings in the form of comparison Web sites.
 
Along with the expansion, the company is announcing the results from their recent study on consumer behavior and the online mortgage buying process, the third most expensive category in CPC search engine marketing.
 
Key findings from the study reveal that when it comes to searching online for mortgages, consumers have less allegiance to specific brands. Searches for non-branded keywords such as “Best Mortgage Rates” have increased more than 200 percent, while branded searches that include the name of a specific mortgage lender decreased by more than 60 percent.
 
As a result of this shift, the average cost of non-branded mortgage terms is now seven times higher than branded mortgage terms. Non-branded mortgage keywords are the third most expensive category in cost-per-click search engine marketing. Meanwhile, third-party reviews, recommendations, and comparison sites are the predominant path for high-intent borrowers looking for the best available mortgages. 
 
With nearly 50 percent of homebuyers now searching for and securing mortgages online, the entire process has become increasingly more digital. Driven by Millennials, nearly all mortgage-related activities are now completed online–from searching for lenders and acquiring a mortgage to opting into recurring electronics payments.
 
“Consumers searching for mortgages are moving in lockstep with how they search for other products online,” said Brandon Schnitzer, Finance Industry General Manager, Natural Intelligence. “Today’s consumers know what they want, search for it, and compare details and ratings of from multiple providers. They very rarely start by going directly to a website of a specific provider. To better compete, mortgage lenders have to adapt to this changing consumer behavior.”

 
About the author
Published
Nov 14, 2018
More from
Tech
NAR Partners With SoFi

NAR members and their clients can receive exclusive rates and discounts on mortgages, student loan refinancing and personal loans.

Apr 09, 2024
Floify President and GM Advising Broker Action Coalition

Sofia Rossato appointed as a vendor advisor to new non-profit

Apr 03, 2024
When, Where, And How To Incorporate AI Into Your Mortgage Business

The impacts and future implications of artificial intelligence and generative AI

Mar 28, 2024
Navigating The Future Of Marketing Technology

Take inspiration from these tomorrow-oriented improvements and see how they could be adapted

Mar 18, 2024
Women Of Tech 2024

Honoring Women Of Mortgage Technology

Mar 18, 2024
Manually Scrubbing For HMDA Compliance? It’s Time To Automate

Investing in digital transformation systems provides a significant advantage over “wait-and-see” institutions

Feb 26, 2024