Prices for the same mortgage often vary by about 50 basis points of the annual percentage rate, according to the study.
For a $300,000 loan at today’s rates, that can mean a gap of $100 per month.
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Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.
Estimated reading time: 0 minutes, 20 seconds
Shopping Around Could Save Borrowers $100 Per Month: CFPB
A study by the Consumer Financial Protection Bureau has found that loan shopping could save borrowers $100 or more each month. So reports NEXT Mortgage News.
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