Home Mortgage News Home loan shoppers scour the internet for best deals amid rising interest rate

Home loan shoppers scour the internet for best deals amid rising interest rate

Published on 03 Nov, 2009

Mortgage firm Aussie Home Loans has revealed that it now draws over 75% of its business through its website, up from just 2% in 2003.

The number of online visitors to Australia's leading mortgage comparison website www.yourmortgage.com.au surged by 14.49% in October, suggesting buyers are actively shopping for the best mortgage rates as interest rates are expected to rise even higher.

Some 80,728 people visited the site in October, up from its September figure of 70,513. The visitors came from 2,930 cities around the world although the majority came from Australian capitals. Sydneysiders accounted for nearly one-third of visitors with 27,472 while the 18,166 visitors from Melbourne made up 22.5%.

Perth accounted for 6,616 or 8.20% while 3,376 or 4.18% came from Adelaide. Londoners were the most well-represented overseas visitors at 891 or 1.10%.

Mortgage firm Aussie Home Loans has also revealed that it now draws over 75% of its business through its website, up from just 2% in 2003.

"Consumer behaviour was changing and the way customers were wanting to interact with our products and our brand has changed significantly. So much so that our marketing techniques were not going to work in that environment," said the firm's marketing and product general manager, Stuart Tucker.

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YourMortgage.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.

For more detailed information, please refer to our How We Get Paid, Managing Conflicts of Interest, and Editorial Guidelines pages.

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We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.

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For home loans, the base criteria include a $500,000 loan amount over 30 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

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The information provided by YourMortgage.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read YourMortgage.com.au’s Financial Services and Credit Guide (FSCG).