After reducing the states in which Google was allowing users to search for mortgage rates in its Advisor tool, it has recently completely removed the mortgage options. This is good news for many mortgage lead generators who bid on the very competitive term “mortgage rates” and others that typically listed Googles Advisor advertisement at the very top of the list.
According to National Mortgage News, Google spokeswoman Winnie King said, “We’ve been prioritizing our product efforts across Google, which means taking a hard look at products that haven’t been as successful as we would have hoped .To that end, we’ve closed down the mortgage search feature of Google Advisor and are focused on building continued improvements into the rest of the product”.
The product, which received a lot of praise from lenders, spurred a number of knock-offs because of its success in generating quality inquiries. In fact, while not all lenders hopped on the bandwagon, it did give the sense that lead generation in the space was going to change. It now looks like the momentum they created might fizzle away.
Anybody in the mortgage space going to miss Google’s Advisor product?