CFPB to Would-Be Mortgagors: Better Shop Around
New CFPB report finds that almost half of consumers do not shop around for a mortgage when purchasing a home. The report also found that informed consumers are more likely to shop, especially if they are familiar with available mortgage rates. The CFPB is seeking to overcome this through a new initiative that includes an interactive, online toolkit called “Owning a Home,” that is designed to help consumers as they shop for a mortgage. The goal of the effort is to give consumers the information and confidence needed to get the best deal. [1/13/15]
