Talk about good timing. Zillow today updated its iPhone app to include access to mortgage calculators and real-time mortgage rates, a move that comes as the average 30-year-fixed mortgage dropped below four percent for the first time.
With mortgage rates at record lows, more Americans will be researching mortgages and turning to sites and mobile apps such as Zillow to find out more information. The Zillow mobile apps, including its Android, Blackberry and Windows Phone 7 apps, are already popular with consumers viewing 2.4 million homes on the apps last month.
Now, with mortgages added to the mix, Zillow is hoping to drive even more engagement. “Real estate is inherently mobile, and our goal is to provide people with information about homes – and home financing – whenever and wherever they need it,” said CEO Spencer Rascoff.
In addition to affordability calculators, the app includes the ability for home buyers to receive personalized loan quotes and read lender reviews.
The company also has boosted the performance of maps within the app.