Brokers and lenders with an online presence have managed to conduct a fair amount of business during recent years despite the housing market bust, Reuters reports.

According to the news source, many borrowers have taken their business online when trying to qualify for a home loan or refinance their current mortgage. By examining rates online, borrowers are able to make a quick side-by-side comparison of rates much more easily.

"These customers tend to be very technologically savvy and they're very adept at being able to articulate the pros and cons of the process," RoundPoint Mortgage president Nick Flores told Reuters.

Additionally, this ability to comparison shop while looking at mortgage rates makes the experience feel much more similar to any other online consumer experience, such as purchasing a computer or a pair of shoes, says Reuters.

Meanwhile, some mortgage websites have even set up their own social networks so that borrowers can share experiences and advice with one another, adding a touch of personalization to the process.