Survey Data provided by Harris Interactive.
Consumers may like to find the best deals out there, but they don’t always approach their mortgages with the same zeal. In fact, people are more diligent about shopping around for a home computer than for a home loan quote, according to a new LendingTree survey conducted online by Harris Interactive. The survey, released today, found that consumers research an average of 3.1 computer models, compared to an average of 2.4 loan quotes. Amazingly, 39 percent of those who said they were at least “somewhat involved” with shopping for their mortgage said they received only one loan quote. Other interesting facts: 10 percent of people said they spent the same amount of time mortgage shopping as brushing their teeth, and 11 percent likened mortgage shopping to the amount of time it takes to walk a dog. To learn more, you can read a summary of the report on how consumers comparison shop for everything except their mortgage.