More than half of U.S. homeowners don’t shop for the lowest mortgage rates, a new LendingTree study found, even though the first offer is not usually the best. 

The study of 1055 homeowners revealed that 56% said they accepted the first mortgage rate offer they received and 48% of that group say they were confident they got the best rate— but 46% of those who did shop around for mortgage rates say the first offer they received was not the lowest rate.

FOMO could have played a part—23% of those surveyed bought a home earlier than planned to take advantage of low rates. Among millennials, that number is 36%, and 28% among first-time homeowners.

Women, baby boomers and low-income borrowers were less likely to shop around, the survey showed—nearly two-thirds (63%) of women revealed they took the first offer without checking other lenders compared with 49% of men. Women were less likely than men to get at least two offers (21% versus 28%) and almost half as likely to review three (10% versus 17%).

The theory? Sadly, women may be hesitant to rate shop because they fear they can’t get a better deal.

“A fair amount of research suggests that women generally have a harder time securing loans — like mortgages — than men do,” says Jacob Channel, LendingTree senior economic analyst. “This excess difficulty may make women feel pressured into sticking with an offer because they’re worried that if they try to find a better lender, they could get stonewalled and not have any offers.”

The reality is that nearly half of the men (46%) and women (45%) who compared the rates of more than one lender ended up getting a better deal than those who didn’t, the survey showed—just over 1 in 4 male and female shoppers ended up with the lowest rate on the first try.

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