Business
Most home buyers skip rate shopping, potentially costing them hundreds a month
Home shoppers spend months searching for the right home, but most gather quotes from only one mortgage lender. That seemingly small decision can be a missed opportunity that costs buyers tens of thousands of dollars over the life of a loan, a new Zillow® analysis shows.
About this update from Zillow Group, Inc.
[{"type":"text","content":"Even small rate differences can expand the number of homes within reach for buyers facing strained affordability","length":112,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"Nearly 7 in 10 mortgage shoppers submit only one application.","length":61,"tagName":"p"}]},{"val":[{"type":"text","content":"A buyer can save $1,100 a year by reducing their mortgage rate 50 basis points when they purchase a typical U.S. home.","length":118,"tagName":"p"}]},{"val":[{"type":"text","content":"A savings of this size would have made 22,000 more homes on the market affordable for a median-income U.S. household.","length":117,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":296,"olType":false},{"type":"text","content":"SEATTLE, Dec. 11, 2025 /PRNewswire/ -- Home shoppers spend months searching for the right home, but most gather quotes from only one mortgage lender. That seemingly small decision can be a missed opportunity that costs buyers tens of thousands of dollars over the life of a loan, a new Zillow® analysis shows.","length":309,"tagName":"p"},{"type":"image","alt":"Zillow logo (PRNewsfoto/Zillow Group)","displaySize":"","headline":null,"caption":"Zillow logo (PRNewsfoto/Zillow Group)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":84,"url":"https://media.zenfs.com/en/prnewswire.com/28b6128b4340bef9d2e4b38d1115ff50"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/O.WUdUPdtFvi097b4WqGCQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE0ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/28b6128b4340bef9d2e4b38d1115ff50","width":400,"height":84}},"href":"https://mma.prnewswire.com/media/844956/Zillow_v2_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Home buyers typically invest months into the search process between hiring an agent, touring homes and making offers. Yet, when it comes to a mortgage, many buyers stop after the first quote, despite the huge financial stakes. Nearly 7 in 10 mortgage shoppers submit only one application, according to Zillow's Consumer Housing Trends Report.","length":346,"tagName":"p"},{"type":"text","content":""Buyers often spend months finding the right home, but only minutes comparing lenders," said Kara Ng, senior economist at Zillow Home Loans. "Even a small difference in rate ...