{"id":13335,"date":"2018-04-20T14:14:14","date_gmt":"2018-04-20T14:14:14","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=13335"},"modified":"2018-04-20T14:14:15","modified_gmt":"2018-04-20T14:14:15","slug":"a-costly-mistake-for-mortgage-borrowers","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/a-costly-mistake-for-mortgage-borrowers\/","title":{"rendered":"A Costly Mistake for Mortgage Borrowers?"},"content":{"rendered":"

A Costly Mistake for Mortgage Borrowers?<\/h1>\n

 <\/p>\n

\"A<\/a>

A Costly Mistake for Mortgage Borrowers?<\/p><\/div>\n

Consumers could be leaving money on the table by failing to gather quotes from multiple lenders when shopping for a mortgage. In fact, borrowers stand to save an average of $1,500 over the life of a 30-year loan by just getting one additional rate quote when shopping for a mortgage. Multiple quotes could bring bigger savings, according to Freddie Mac\u2019s April Insight report.<\/p>\n

Eighty percent of borrowers who received one additional rate quote while shopping for a mortgage saved between $966 to $2,086 over the life of their loan. Borrowers who gathered five rate quotes saw an average savings of $2,914. Eighty percent of the borrowers who obtained five quotes saved between $2,089 and $3,904, according to Freddie Mac\u2019s report.<\/p>\n

Yet, nearly half of consumers fail to shop for better rates before taking out a mortgage to buy or refinance a home, according to Freddie Mac\u2019s report.<\/p>\n

\u201cBy shopping more than one mortgage lender, consumers are more likely to get a better interest rate and save money in both the short and long term,\u201d says Len Kiefer, Freddie Mac\u2019s deputy chief economist. \u201cWith lower monthly payments and lower fixed fees, the loan will be more affordable and thus safer, and consumers may have hundreds or thousands of dollars more in their pockets. Not a bad return for a few phone calls or clicks.\u201d<\/p>\n

Source: \u201c\u200bWhy Are Consumers Leaving Money on the Table?<\/a>\u201d\u00a0\u00a0Freddie Mac Insights (April 2018)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A Costly Mistake for Mortgage Borrowers?   Consumers could be leaving money on the table by failing to gather quotes from multiple lenders when shopping for a mortgage. In fact, borrowers stand to save an average of $1,500 over the life of a 30-year loan by just getting one additional rate quote when shopping for … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-13335","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nA Costly Mistake for Mortgage Borrowers? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/a-costly-mistake-for-mortgage-borrowers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"A Costly Mistake for Mortgage Borrowers?\",\"datePublished\":\"2018-04-20T14:14:14+00:00\",\"dateModified\":\"2018-04-20T14:14:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/\"},\"wordCount\":260,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/04202018.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/a-costly-mistake-for-mortgage-borrowers\\\/\",\"name\":\"A Costly Mistake for Mortgage Borrowers? 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