For the third consecutive week, mortgage lead volumes rose. According to the Lead Planet weekly survey, online mortgage leads increased over 18%. Refinance leads jumped nearly 20% last week and purchase leads inched up almost 2%.
According to a Lead Planet spokesman, “As mortgage rates break records, lead volumes rise, because consumers want to save money with a lower interest rate.” We continue to see significant interest in government home mortgages again this week as FHA leads rose nearly 11% and VA leads increased almost 7%. Debt and loan modification lead volumes fell nearly 2% from the previous week. The Federal Reserve announced compensation restrictions for mortgage brokers last week, but as expected the news had little effect on the mortgage lead activity.
Mortgage Lead Activity Spikes as Interest Rates Drop
The Lead Planet is a direct mortgage lead company that publishes a monthly report measuring lead volumes for home finance, debt and real estate industries. The internet mortgage marketing company is best known for generating live and leads from their premiere finance websites. They also posts a weekly mortgage lead report that is derived from the survey of over 1,000 mortgage companies nationwide.
