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Most Homebuyers Don’t Negotiate Rate on Purchase: Survey

Monday, Jun 19 2023
Lending
Written by  The Mortgage Leader

Only 39% of prospective homebuyers said they negotiated the initial APR or refinance rate for the last home they bought, according to a new survey from LendingTree. So reports DSNews.

lendingtreeSuch negotiations succeed 80% of the time, according to LendingTree, which surveyed 2,000 U.S. consumers.

For a $350,000, 30-year fixed-rate mortgage with a 6.50% APR, negotiating a rate reduction of just 25 basis points would mean savings of $20,520 over the life of the loan.

Read the full article from DSNews.

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