Industry NewsMortgage

Nearly one-fourth of online mortgage shoppers borrow within a year

Study examines 100,000 online mortgage leads

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Real estate and mortgage lead generator HouseValues Inc. is touting the results of a study that found 22 percent of consumers who submitted mortgage loan requests at the company's Web site took out a mortgage within 12 months. The study, however, did not attempt to gauge whether the loans were taken out from companies that bought leads from HouseValues, and the company says it does not track its clients' actual conversion rates. The study, conducted by consulting firm Real IQ, looked at 100,000 mortgage leads generated between June 2005 to February 2006. The leads constituted a percentage of the loan requests submitted to HouseValues during the time period and were selected at random, said Matt Heinz, HouseValues' senior director of marketing. RealIQ took the names and address provided in the lead and checked them against public records at the county level to determine how many of those seeking mortgage loans actually took one out within 12 months. RealIQ, which provides market analy...