Shopping for a mortgage loan in the current high-rate environment could yield significant savings. With rates nearly at 7%, potential savings could range from 0.50% to 1%, which could equate to tens of thousands of dollars over the loan's lifespan. Approaches to save include obtaining quotes from various lenders, requesting rate matches, and collaborating with real estate brokers. Purchasing a home now could result in a lower price due to decreased competition, despite high mortgage rates. Comparing rates from different lenders can lead to substantial savings over time.
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