Women Pay Higher Interest Rates on Mortgages than Men

Posted at 3:34 PM, Jan. 23, 2007

A study by the Consumer Federation of America shows that women pay higher interest rates on mortgages than men, even though they had similar incomes, and even when women had higher credit scores. Why? The study found that women tend to take their mortgage with the first lender they talk to rather than shop around for rates, as men seemed to do.

It is always a good idea to shop around for a mortgage as the rates can vary by lender. Beside the interest rate, the lender fees can also vary, causing some to pay more than others.