Shopping for that Mortgage

CONSUMERS COMPARISON SHOP for Everything except their Mortgage People like shopping around, but not when it comes to their mortgage, even though they know interest rates vary. People researched more computers than they did their mortgage 3.1): 2.4 91% think rates vary between lenders 40% received only one quote only 2.4 quotes were obtained on average Consumers overwhelmingly use the web to com- parison shop, yet are not jumping online to com- pare mortgage rates 96% comparison shop for everything 85% Yet only 1 in 5 shopped online do so online for rates Less than a third can say they are very confident they received the best possible deal on their mortgage 10% brushing their teeth! 11% walking a dog 20% 1 in 5 say they spent the amount of time it takes going out to dinner 31% spent a full working day shopping for their mortgage 72% spent less than a full working day (8 hours?) shopping for their mortgage 70% find process of mortgage shopping to be frustrating: TERM 21% complexity of terms 30% didn't find anything frustrating 20% time-intensive 26% think they could save between $76 and $100 if they reduced their rate by 1%. Actually, dropping your rate from 5% to 4% could save you $148 per month a $250k loan. The gender gap Women are not stepping up to the plate when it comes to home finances When it comes to Men are more likely refinancing, women think they'll save less and men think than women to be involved/responsible for shopping for a mortgage they'll save more per month