Better.com makes money by selling housing loans to investors in the secondary market. Mortgage rates are quite low in recent days, so there are fewer potential customers.[0] Interest rates are also quite low. [1] This means that, while Better used to save customers a decent amount of money, that gap has compressed which makes new customer acquisition tough.
(this is based on some quick research, so please correct me if I'm wrong about any of this)
Better.com makes money by selling housing loans to investors in the secondary market. Mortgage rates are quite low in recent days, so there are fewer potential customers.[0] Interest rates are also quite low. [1] This means that, while Better used to save customers a decent amount of money, that gap has compressed which makes new customer acquisition tough.
(this is based on some quick research, so please correct me if I'm wrong about any of this)
[0] https://fred.stlouisfed.org/graph/?g=NUh
[1] https://fred.stlouisfed.org/series/FEDFUNDS