Google keeps getting smarter and smarter. Search for a product, and you'll see pricing from a variety of vendors at the top of your search results.
It even does math. Type in "598.85 + 452", and you'll get the answer.
Now, Google is looking at mortgage rates. They're working to get the best mortgage rates (and other loan rates) to show up in your search results. You won't have to click and visit a lender's website. Instead you'll see the numbers right on Google.com.
LendingTree is not happy about Google's efforts, and has filed a lawsuit against a company that provides mortgage rate data.
Google's efforts may make it faster and easier to search for the best rates. What do you think - would you enjoy seeing mortgage rates in your Google search results? Assume you searched for "best mortgage rates". Tell us about it in the comments.
[via NetBanker]
Further reading:
I think it lends (not pun intended) to unmonitored bait and switch tactics. There much more to a mortgage than just ‘the rate’.
You may want to check into some the issues that bankrate.com has had in the past. The very best interest rate is worthless unless you can actually qualify. Loan-to-value, loan size, FICO score, property type and use, number of units, debt-to-income ratio, provable assets, employment type and length, and lock period are all variables that impact rate. Plus, there’s not just one rate for any given program. There is a range of rates and points and the right answer for any borrower depends on their intentions with the property. Google could include many of these variables but then they’d be operating as a mortgage company. Serving up interest rates may sound like a good idea, but I wouldn’t think Google would want to be accountable for “endorsing” lenders who would employ “bait and switch” tactics.
The lowest interest rates are worthless unless you can actually qualify the conditions.
Regards, Hypotheken
Hi, this is David miller. Awesome post. This is wonderful blog and wonderful information given here. There is a range of rates and points and the right answer for any borrower depends on their intentions with the property. Google could include many of these variables but then they’d be operating as a mortgage company. Excellent site, keep up the good work. Thank you for this post. They are all great suggestions that will serve us well in good stead and not for just the holiday season. Thanks for the tips.
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