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Short Take: Priceline.com expands mortgage features

Priceline.com said it will lock in interest rates and guarantee closing costs for users of its Internet home-mortgage service in a move to expand its financial products. Priceline, where consumers bid online for mortgages, airline tickets, groceries and other products, said it will offer to lock in rates and guarantee costs in as little as 30 minutes after customers propose loan terms through the service, called PricelineMortgage. The company, which started in April 1998, has said it plans to eventually offer other new products as well, including insurance and credit cards.

Priceline.com said it will lock in interest rates and guarantee closing costs for users of its Internet home-mortgage service in a move to expand its financial products. Priceline, where consumers bid online for mortgages, airline tickets, groceries and other products, said it will offer to lock in rates and guarantee costs in as little as 30 minutes after customers propose loan terms through the service, called PricelineMortgage. The company, which started in April 1998, has said it plans to eventually offer other new products as well, including insurance and credit cards.