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Shopping for Best Mortgage Rate
The Mortgage Professor: Does the new CFPB rate tool help consumers shop for a mortgage?
Feb. 13, 2015
By JACK GUTTENTAG The Mortgage Professor - Tribune News Service
The Consumer Financial Protection Bureau deplores the fact that almost half of the home buyers it recently surveyed did not shop for a mortgage but dealt with a single loan provider. To encourage shopping, the agency has developed a "Check Interest Rate" tool. It advises borrowers: "As you start talking to lenders, compare their offers to the rates in the tool to see if you are getting a good deal."
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