Welcome to our dedicated page for Lendingtree news (Ticker: TREE), a resource for investors and traders seeking the latest updates and insights on Lendingtree stock.
LendingTree, Inc. operates LendingTree.com, an online financial services marketplace that connects U.S. consumers with offers for loans, credit cards, insurance and related financial products through a network of financial partners. Its business is reported through Home, Consumer and Insurance segments, with revenue tied to marketplace referrals, partner demand and completed financial-product transactions.
Company news commonly covers quarterly results, variable marketing margin, adjusted EBITDA, segment performance and the role of the Insurance marketplace in revenue growth. Updates also address mortgage and housing policy, consumer-permissioned lead generation, home equity activity, credit-product demand, leadership appointments and governance changes affecting the company’s marketplace operations.
In a recent survey by CompareCards, 67% of parents reported increased stress over back-to-school shopping, up from 43% in 2019. The average expected spending per shopper has risen by 11.7% to $478. Debt concerns are also on the rise, with 30% of parents anticipating this year's expenses will force them into debt, compared to 26% last year. Online shopping is significantly up, with 44% planning to shop online versus 13% in 2019. Key categories projected for increased spending include electronics, office supplies, and athletic equipment.
LendingTree conducted a survey revealing that 64% of homebuyers are willing to exceed their budget to secure their ideal home amid low mortgage rates and a tight housing market. The survey highlights key buyer concerns, with 37% citing budget constraints as the most stressful issue. Notably, Black and Hispanic homebuyers find the mortgage application process particularly stressful. Despite the allure of going over budget, LendingTree's Chief Economist cautions against it due to potential long-term maintenance costs. The survey sampled 1,006 homebuyers from April 24-30, 2020.
QuoteWizard®, a LendingTree company, revealed a report highlighting the surge in uninsured rates due to pandemic-induced job losses. Between February and May 2020, approximately 5.4 million individuals became uninsured. The Robert Wood Johnson Foundation anticipates over 10 million people will lose employer-sponsored health insurance by year's end. The report shows a 56% rise in uninsured rates in May compared to pre-pandemic levels, with several states witnessing significant increases driven by high unemployment.
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QuoteWizard®, a LendingTree company, reported significant impacts of the COVID-19 pandemic on mobility rates across the U.S. In June 2020, 36.5% of adults experienced anxiety or depressive disorders, a stark rise from 11% in 2019. States like California, Hawaii, and Arizona showed the least mobility due to restrictions. A 9% reduction in retail and recreation activities correlates with increased home stays, with about 33% of individuals opting to remain at home compared to pre-pandemic levels. The analysis was based on Google and CDC data regarding mobility.
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QuoteWizard®, a LendingTree company, has identified states where essential workers face significant health insurance risks due to employer coverage deficits. The report reveals that essential workers, who are crucial during the pandemic, have a 13% uninsured rate compared to 8% for non-essential workers. Key findings show that 35% of essential workers experienced reduced hours, and 50% cannot manage a $500 medical bill. The report ranks states based on employer health coverage and essential worker percentages, with Montana having the lowest coverage at 70.6%.
LendingTree, the prominent online loan marketplace, released a study on Aug. 11, 2020, revealing significant financial disparities between Black and White Americans. Key findings show that Black men's average income is 33.7% lower than that of white men, and Black women earn 17.5% less than white women. Credit denial rates for Black adults stand at 44%, over twice that of their white counterparts. Additionally, the average cumulative student loan debt for Black graduates is $36,919, 20% higher than that for white graduates. The report indicates persistent systemic issues in economic opportunities.
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