LendingTree, Inc. - TREE STOCK NEWS

Fair has partnered with LendingTree to become the first used car leasing alternative on the platform, enhancing its market presence. Customers can receive personalized lease options ranging from month-to-month to 3-year plans, simplifying the leasing process without the need for dealer negotiation. Fair offers routine maintenance, roadside assistance, and limited warranties with each vehicle. The partnership aims to improve access to mobility for consumers seeking flexible and affordable car leasing solutions.

LendingTree, Inc. (NASDAQ: TREE) provided a business update on January 12, 2021, revealing better-than-expected Q4 2020 results. Anticipated revenue ranges from $220 million to $222 million, exceeding prior estimates of $200 million to $215 million. Variable marketing margin is expected between $80 million and $82 million, and adjusted EBITDA is forecasted at $24 million to $26 million, up from $13 million to $18 million. Growth in the Home segment saw over 30% revenue increase year-over-year, while the Insurance segment grew by about 20%. Full-year results will be formally reported on February 25, 2021.

QuoteWizard®, a LendingTree company, released a report detailing anxiety and depression trends across U.S. states during the pandemic. The analysis, based on CDC data from April to December 2020, revealed a national average of 32.12% for anxiety and depression, marking a 6.3% increase. Louisiana, Nevada, and Oregon reported the highest rates, while North Dakota, South Dakota, and Wisconsin showed the lowest. The report also correlated high stress levels with unemployment rates across states.

Auto insurance rates in the U.S. have decreased by 1.7% in 2021, marking the first decline in over a decade, according to ValuePenguin.com. This change is linked to reduced driving during the COVID-19 pandemic, resulting in fewer claims. The average auto insurance cost is now $1,636, with states like Arkansas and Ohio seeing significant reductions. However, Michigan remains the most expensive state for auto insurance. Concerns are raised that rates may rebound in 2022 due to increased driving and technological claims costs.

LendingTree recently published its annual report highlighting that millennials now represent the largest segment of homebuyers in the U.S., accounting for 51% of mortgage purchase requests. The report reveals that San Jose, Boston, and Denver are the top cities for millennial homebuyers, with millennial requests at 61.79%, 59.09%, and 59.07%, respectively. Interestingly, the average credit score among millennial buyers in these cities is notably higher at 721, compared to the national average of 669. This study underscores the changing dynamics in homebuying driven by millennials amid the pandemic.

LendingTree analyzed over 29,000 anonymized transactions to explore the spending habits of last-minute holiday shoppers. Key findings from 2019 reveal that sporting goods and toys were the primary purchases, with significant spending on outlet stores, averaging $266 on Dec. 23 and 24. Florists experienced the highest spending increase, with average purchases of $219, double the usual December spending. On Dec. 24, shopper numbers soared by 20% compared to other Tuesdays in December. Additionally, a survey indicated that 31% of consumers expect to incur holiday shopping debt this year.