What You Need To Have On Your Website When Rates Drop

Mortgage lending institutions and brokers enjoyed a good swing there. From 2019 to 2021, mortgage originations went on a pretty steady climb. But as rates went up, originations ticked down. As of Q1 2024, mortgage originations at large banks were at their lowest point in the last decade. 

As a result, a lot of mortgage professionals have been waiting with bated breath for the Federal Reserve to slash the federal funds rate. Since mortgage rates usually follow the movement of that key metric, a Fed rate cut should help to bring home loan rates down. That, in turn, should bring more prospective homebuyers to the table, along with people looking to refinance. 

In March, two-thirds of would-be homebuyers said they were waiting for rates to drop. That means that a decrease in rates should bring at least some of those people to the market. 

And since the Fed is expected to cut rates next month, it’s time to get ready. If the hoped-for flood of loan seekers does materialize, you want to be in a strong position to close loans for as many of them as possible. 

Here, your website is a highly valuable tool. In 2024, most consumers start their shopping processes online — and loan shopping is no different. If you don’t have a good website, you’re missing out. 

To help your lending operation make the most of the anticipated drop in rates, make sure your site has the following: 

Good navigation

This might seem basic, but a surprising number of websites — especially among financial institutions — don’t have an easy-to-use navigation menu. 

Right up top, you should provide a way for leads to get the information they want. Use your navigation menu to show them where they can find live rates and different loan products, along with a quote customized to them. Make it easy to find your loan officers’ contact information if they’re ready to speak with someone. Give them the chance to learn about your lending institution with an easy-to-find “About” page. 

Start with the basics. When someone visits your site, make sure it’s simple for them to find the info they want. 

Hero sections

Experts say that you have about eight seconds to capture the modern consumer’s attention. The key pages on your website — and particularly your home page — need strong hero sections to grab focus and encourage people to stay on your site. 

Think of this like the “above the fold” section of a newspaper. What do you want people to know up top, and how can you engage them? Most mortgage websites that do this well leverage a large image with key text overlaid. 

We have more guidance to help you strengthen your hero sections here. 

Live rates

If leads are visiting your site in the hunt for information about dropping rates, you absolutely need to be showcasing those rates. Static rate tables that have outdated (i.e., higher) rates could lose you business.

Fortunately, keeping live rates on your site can be simple. We offer tools — like rate tables and mortgage calculators — that connect to your product pricing engine (PPE). This way, as rates update in your PPE, they automatically update on your site, too. 

Live rates can also become lead generation tools for you. With a lead workflow on your site, for example, you can offer a customized quote (leveraging the latest rates) in exchange for a person’s contact information. When this feeds directly to your CRM, your loan officers get a way to jump on the lead quickly and engage with a high-intent individual. 

Calls to action

It’s not enough to have a beautiful, informative site. If you don’t invite people to take next steps, there’s a high probability that they’ll look around your site and leave. 

That’s why website experts recommend sprinkling calls to action throughout your site. You might put a button in your hero section inviting people to get a custom quote, for example. And you might put a “Contact Us” button on the bottom of your webpages. Many mortgage lending companies also see success when they integrate call-to-action buttons on their rate-enabled tools, like their mortgage calculators. 

It’s possible that a handful of people will seek out your team’s information and initiate the contact themselves. But most people need a nudge. Make it easy for them to take next steps by prominently featuring calls to action throughout your website.  

Loan officer pages

The big, nationally operating mortgage lenders have robust, high-functioning websites. So how do solo mortgage brokers and small and mid-sized lending institutions compete? With a personal touch.

Let leads put a face (or faces) to your company with loan officer pages. These personalized pages let you showcase your individual loan officers and their expertise. This helps to build trust and credibility, critical assets for converting leads to customers. When these loan officer pages feature strong calls to action — like “Contact [Loan Officer Name]” and “Apply Now” buttons — they become particularly powerful as lead generation tools. 

Is your website ready to capture the increased traffic that should come as rates drop? If you want to explore adding tools like live rates and loan officer pages, get in touch. Our team has expertise deploying these site features quickly and easily. That means we offer a low-lift way to get prepped to capitalize if the Fed slashes rates next month, as many experts predict. Don’t wait to get set up to take advantage of rate drops. 

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