Phoenix Buyers May Be Overpaying Mortgages

A new US analysis found nearly nine in 10 homebuyers paid more than necessary because they did not secure the most competitive mortgage offer.
The typical borrower spent >$3.3K extra each yr, and over a 30-yr loan that gap reached ~$78K in added mortgage costs overall.
For many buyers in recent years, an expert said the issue was widespread, creating a $65B yearly drain on American household wealth.
That extra spending could have gone toward credit card payoff, retirement savings, or education costs, highlighting why buyers benefit from comparing mortgage options carefully.
Experts advised gathering multiple quotes on the same day and including lender fees, so buyers can make a cleaner apples-to-apples mortgage comparison.