LendingTree study shows mortgage shoppers can cut tens of thousands in costs

LendingTree released a study revealing that consumers who shop around for mortgage offers stand to save roughly $62,572 over the life of a 30-year fixed-rate loan, equivalent to about $174 per month. This figure represents a decline from the $80,024 average savings reported for 2025. The analysis highlighted a spread in offered rates, from 5.93% at the low end to 6.72% at the high end.

Geographic variation was also noted: borrowers in Hawaii could achieve the largest savings, followed by those in New Jersey and California, while residents of New York, West Virginia and Mississippi would see the smallest reductions. Experts suggest that comparing multiple lenders helps avoid unnecessary costs and improves the chance of securing a lower rate.