Zillow's mortgage revenue skyrocketed by 63% year-over-year, bolstered by an 80% increase in purchase origination volume, reflecting the company's growing integrated financing services.
In an industry struggling with stagnant housing sales, Zillow's mortgage division, launched in late 2018, saw a remarkable 41% boost in origination channel revenue year-to-date.
40% of Zillow's users start their journey searching for a lender, revealing the importance of integrated financing in converting homebuyers who may not have real estate agents.
While the housing market faces challenges, falling mortgage rates in Q3 2024 have played a crucial role in enabling Zillow and other lenders to return to profitability.
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