BrokerageIndustry News

Women don’t shop enough for home loans

Study reveals men more likely to find the best deals
Published on Dec 2, 2011

Editor's note: This article is republished with permission from AOL Real Estate. View the original article: "When It Comes to Mortgages, Women Don't Shop Enough." By ANN BRENOFFThere's a surprising new finding that says women get lousier mortgage rates than men, but not because of gender discrimination. It's because, instead of shopping around for cheaper loans, they rely on the recommendations of friends.To recap: When it comes to mortgages, women don't shop enough.The report, published in the Journal of Real Estate Finance and Economics, set out to explain why women were 32 percent more likely to get a subprime mortgage than men in a 2006 study. According to a team of researchers led by Florida Atlantic University's Ping Cheng, the answer wasn't discrimination because of gender or even income disparities.Women pay higher rates because they are more likely to listen to friends' recommendations, whereas men are more likely to shop around for the best deal."Our empi...

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