They may be moving in different directions, but even passing ships can see stern to stern when the right deal comes around. Bankrate (NASDAQ:RATE) will be populating Move's (NASDAQ:MOVE) network of websites with current mortgage and home equity loan rates, as well as Bankrate's popular editorial content.
It's a natural fit. Move's websites include home listing hub Realtor.com, as well as dedicated sites for everything from rental listings to home plans to mover directories. In short, if you're one of the 9 million visitors to Move's site network, there's a pretty good chance that you will either be in the market for a mortgage or in need of tapping an equity line.
It's a perfect match, even if Wall Street isn't treating both companies the same way. Move has been evicted, dismissed just as it was in its former life as Homestore.com. Shares have been cut in half since peaking in February, another victim of the disinterest in real estate-powered websites that has also smacked HouseValues (NASDAQ:SOLD) around.
Lending specialists like Popular's (NASDAQ:BPOP) E-Loan and IAC/InterActiveCorp's (NASDAQ:IACI) LendingTree have also been feeling the pinch, though they are parts of larger, diversified companies that have been able to weather the storm. ZipRealty (NASDAQ:ZIPR) has bucked the trend, expanding while other real estate brokerages retreat.
So as Move's stock lingers below the critical $3 mark, Bankrate is still a market darling. With financial institutions still looking for leads -- and a hunger for mortgages replaced by an appetite for high-yielding savings, checking, and CD accounts -- Bankrate's stock has climbed 32% higher over the past year.
Still, the two companies find themselves hooked up in a deal that is clearly symbiotic. Move can profit from Bankrate's Rolodex of willing financial sponsors. Bankrate can get its foot in the door at a company that will be pretty popular when the residential real estate market bounces back.
It will take time, but that's OK. The seas are calm. They're passing ships, but they're passing slowly.
A few related open houses of content to stroll through:
