You say tomato, I say tomahto. You say remortgage, I say refinance. Yup, you guessed it. They both mean the same thing. The only difference is “remortgage” is the term used primarily in…
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A Remortgage - What is It?
Today, Zillow launched comprehensive, interactive mortgage rate charts with information on the most current mortgage rates being offered on Zillow Mortgage Marketplace. These aren’t your typical rate tables or charts — they are pretty unique for a number of reasons.
The rates are based on real quotes borrowers are receiving from lenders. They are not just the typical “marketing rates” that are frequently published in newspapers and on many Web sites — these are actual rates to real people. And, most importantly, they display the most up-to-date rates possible as each chart factors in rates from mortgage quotes submitted just seconds before the chart was created.
As you can see in the image below, these interactive mortgage rate charts illustrate how mortgage rates are changing by day, week, month, or over the past three months. The charts can be filtered by state and various loan types, credit rating or down payment. These filters allow borrowers to see specific rates for situations similar to their own, for example, California mortgage rates for 30-year fixed loansfor those with good credit and a down payment of 20% of more.
The Flash animation interface makes playing with these charts a lot of fun: as you select different mortgage types, terms or time periods, the charts immediately morph to display the new results. It’s super sexy, as the title of this post notes (many thanks to the mortgage product development team who cranked out this new feature)! These dynamically changing charts make it incredibly easy for potential borrowers researching a home loan to get a sense of a rate they may be able to lock in.
Below the rate charts, borrowers see a list of real-time mortgage quotes from lenders. The quotes match the rate specifications selected in the chart above. If you change the filters, the lenders’ quotes will change to match, too. To see the full quote details, just click on any quote for an expanded view.
When borrowers are ready to request their own personalized loan quotes, they simply enter their ZIP code in the box directly below the rate chart and click the orange “Get Quotes” button. They will then will be taken to the loan request form on Zillow Mortgage Marketplace.
To find these interactive mortgage rates, visitors can click on the GO button in the Zillow Mortgage Marketplace module found on Zillow’s home page, along with various other locations throughout the site.
So what are you waiting for? Check it out, and be sure to give us any feedback you have on this new feature — we love to hear from you!
Read the rest here:
New! Super-Sexy Mortgage Rate Charts
