Borrowers seeking mortgage financing to purchase a home could find themselves saving $100 a month or more by shopping around, and locating cheaper lenders with which to do business.This is according to a new blog post published this week by the Consumer Financial Protection Bureau (CFPB).By analyzing Home Mortgage Disclosure Act (HMDA) data from 2021, the CFPB determined that mortgage rates paid by consumers vary across a wide variety of lenders, including for mortgages backed by Fannie Mae and Freddie Mac, the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), and jumbo loans through price dispersion.
#competition #significantly #differences #wide-variety #interest-rates #mortgage-rates #online-platforms #veterans-affairs
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