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Most homebuyers don't shop around for a mortgage, research shows. Why that's a bad idea
CNBC· 2025-12-21 12:30
Fstop123 | E+ | Getty ImagesFor homebuyers, getting one preapproval for a mortgage that has palatable terms may seem good enough. More than two-thirds — 69% — of homebuyers submit only one mortgage application, according to a new report from Zillow.However, you shouldn't stop there, experts say. With the average interest rate on a traditional 30-year mortgage sitting above 6.2% as of Friday, even a half-point difference in the rate can be a game-changer for some homebuyers, who already face elevated prices ...