CHARLOTTE, N.C., June 11, 2026 /PRNewswire/ — Shopping around for a mortgage can save homebuyers tens of thousands of dollars, yet many borrowers still fail to compare offers or negotiate with lenders, according to a new LendingTree report.
Analyzing more than 80,000 mortgage shoppers on its platform, LendingTree found that borrowers who choose the lowest available rate instead of the highest could save an average of $62,572 over the life of a 30-year, fixed-rate mortgage.
Key Findings:
-
Borrowers could save an average of $62,572 over the life of a 30-year, fixed-rate mortgage by shopping around. That’s equal to $174 per month or $2,086 annually. While still substantial, potential savings are down from $80,024 in LendingTree’s early 2025 analysis as mortgage rate spreads have narrowed and overall rates have declined.
-
More mortgage offers can create bigger savings opportunities. Across all borrowers, the average spread between the lowest and highest offered interest rates was 0.79 percentage points. Among borrowers who received six or more offers, the spread widened to 0.98 percentage points, increasing potential monthly savings from $174 to $227 and boosting lifetime savings to $81,735.
-
Many borrowers still don’t compare offers or negotiate mortgage terms. Two-thirds (66%) of mortgage holders compared quotes from multiple lenders during their most recent mortgage-shopping process, but only 54% attempted to negotiate. Baby boomers were the least likely generation to negotiate, with just 18% doing so, compared with roughly 70% of Gen Zers and millennials. Men were also considerably more likely than women to negotiate (67% versus 36%).
-
Negotiation often pays off. Among borrowers who negotiated their interest rate, 93% lowered their monthly payment, including 37% who reduced it by at least $100 per month. Among those who negotiated fees and closing costs, 34% reduced upfront expenses by $2,000 or more, including 12% who saved at least $5,000.
“Consumers have more power in the mortgage process than they often realize,” Jeff Lyons, LendingTree’s General Manager of Lending, said. “Access to information and choice has never been more important, especially when even small differences in loan terms can have a major impact on long-term costs. At LendingTree, our goal is to help consumers easily compare offers from multiple lenders, create competition for their business and ultimately make more confident financial decisions. This research demonstrates just how valuable that process can be.”
