CFPB Report Finds Nearly Half of Borrowers Do Not Shop for a Mortgage

CFPB Releases “Owning a Home” Toolkit to Help Consumers Shopping for a Mortgage

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) released a report finding 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. As part of its Know Before You Owe mortgage initiative, the CFPB is releasing “Owning a Home,” an interactive, online toolkit designed to help consumers as they shop for a mortgage. The suite of tools gives consumers the information and confidence they need to get the best deal.

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