Consumer News: Insuring an EV still costs more — but the gap is starting to close

Experts say comparing mortgage offers can pay off in a big way over the life of a loan

• Skipping mortgage rate shopping could cost homebuyers more than $62,000 over the life of a loan.

• Borrowers who negotiate often win, with most reporting lower monthly payments after asking for a better deal.

• Comparing multiple lenders and reviewing APR, fees, and closing costs can lead to significant long-term savings.

Buying a home is expensive enough without paying more than you have to.

Yet new research from LendingTree suggests that many homebuyers may be doing exactly that by failing to compare mortgage offers from multiple lenders. According to the analysis, borrowers who shop around could save an average of $62,572 over the life of a 30-year fixed mortgage simply by choosing the best available loan offer.

The findings highlight just how much mortgage rates and terms can vary from one lender to another and why taking the time to gather multiple quotes may be one of the smartest financial moves a homebuyer can make.

To break down what this means for homebuyers, ConsumerAffairs spoke with LendingTree's Chief Consumer Finance Analyst, Matt Schulz.

Homebuyers are skipping the comparison

Many homebuyers dont think about the savings opportunities available by skipping the mortgage rate comparison. Schulz explained that the primary reason is that consumers dont know how much money is at stake.

Theres so much work that goes into buying a home, and mortgage shopping can feel like just another item on an already overwhelming to-do list, he said. Some people also assume that rates won't vary much from lender to lender or that their real estate agent's recommendation is automatically the best option. Unfortunately, that can be a costly mistake when shopping around can save the average borrower more than $62,000 over the life of a loan."

Know your negotiating power

One of the findings from the study was about negotiating for a lower mortgage. The survey revealed that women and baby boomers were less likely to negotiate.

A lot of it comes down to comfort level and expectations, Schulz said. Younger borrowers have grown up comparison-shopping online for everything and are often more accustomed to pushing for a better deal. Meanwhile, some older borrowers may assume rates and fees are largely fixed or may not feel the savings justify the effort."

However, its also important to note that when you do negotiate, it typically turns out in your favor. The survey found that 93% of homebuyers were able to lower their monthly payments.

"The most powerful tool is having competing offers in hand, Schulz said. It's much easier to negotiate when you can tell a lender that another company has offered a lower rate or lower fees.

Consumers should ask directly whether the lender can match or beat a competing offer, and they shouldn't focus solely on the interest rate. Closing costs, lender fees and discount points can also be negotiable. Most importantly, don't be afraid to ask. The data shows that people who negotiate are overwhelmingly successful."

What to look for in an offer

Mortgage interest rates have been relatively high as of late. However, there are other factors to consider when looking at the final monthly payment.

Schulz encourages consumers to pay close attention to the APR, not just the interest rate.

The APR incorporates many of the loan's fees and gives a more complete picture of the cost, he said. They should also carefully review lender fees, closing costs, discount points, prepayment penalties, and whether the loan has any features that could increase costs later. If something isn't clear in a loan estimate, that's a signal to ask questions. A mortgage is too important and too expensive to sign without fully understanding the details."

Take your time and do your homework

One of the biggest takeaways for consumers: taking a few extra minutes to get numbers from different lenders can make all the difference.

"This study is just further proof of how monumental the savings can be when you take the time to shop around, Schulz said. In a time when affordability remains one of the biggest challenges facing homebuyers, that's an opportunity people simply can't afford to ignore. Getting at least three mortgage quotes should be as routine as getting a home inspection. It's one of the smartest financial moves a buyer can make."

Learn what you can do to recognize warning signs from the most popular and reduce the risk of fraud

• Older Americans lose an estimated $28 billion each year to financial exploitation, with investment among the most costly and common schemes.

• Artificial intelligence is helping scammers create more convincing and personalized fraud attempts, making it harder for victims to spot red flags.

• Experts recommend monitoring financial accounts and setting up trusted contacts to help detect suspicious activity before significant losses occur.

Every year, scammers steal billions of dollars from older Americans, often targeting them through phone calls, emails, text messages, and social media.

In fact, elder financial exploitation is estimated to cost U.S. seniors more than $28 billion annually, making it one of the most common forms of elder abuse. As technology evolves and fraud tactics become more sophisticated, experts say families need to be proactive about protecting their loved ones.

In recognition of Elder Abuse Awareness Day, ConsumerAffairs spoke with Al Pascual, CEO and co-founder of scam detection company Scamentic, who shared practical steps families can take to help older adults avoid becoming victims. From learning how to spot common scam tactics to using financial alerts and monitoring tools, these strategies can help seniors stay safer in an increasingly digital world.

The most common

Pascual explained that investment are most frequently targeting older adults.

They are the perfect target as these often start through online friendships, or even romances, he said. With their savings and retirements, scammers know that lonely older victims are worth the time and effort in cultivating a relationship. Note that investments are consistently among the highest loss recorded by the FTC.

Additionally, Pascual encourages consumers to be vigilant if an older adult in their lives suddenly finds a new friend or love interest and then becomes distant.

Often scammers encourage victims to cut ties with friends and family to prevent them from stepping in and stopping the scam, he explained.

Targeting seniors with AI

AI has made it easier for to go according to plan, as its getting harder and harder for consumers to tell the real from the fake.

AI has basically brought spear phishing to the masses as criminals can craft far more targeted attacks at scale, Pascual said. As an example, after an e-commerce data breach, scammers will use information such as the card number itself, and phone number or email to send convincing bank impersonation .

The first four digits of a card number specifies the issuing bank, telling the scammer exactly who they need to impersonate to have the best chance at getting a victim to respond. And with AI, they can automate the work of doing that research, crafting the communications, and even continuing the conversation when victims begin to engage.

Protect your loved ones

If you or a loved one could be vulnerable to one of these , Pascual offered some practical advice.

• Monitor the financial accounts of a family member who you suspect is being targeted. This is a critical step because the faster a scam payment is detected, the greater the chance it can be stopped or reversed.

• Add 'Trusted Contacts. Some institutions allow older account holders to add 'Trusted Contacts' who are notified when suspicious activity is occurring on their account. Pascual highly encourages everyone to set that up if it is available before a scam happens because their family members will generally be more apt to allow it under the auspices of keeping bad guys out of the account.

Here's how smart shoppers can take advantage

• Costco quietly cut prices on several Kirkland favorites, including crispy wings, chocolate almonds, golf balls, and king-size sheets.

• The retailer says its goal is to be "first to lower prices and last to raise them," continuing a long-standing value strategy.

• Smart shoppers should watch for extra discounts, look for .97 clearance prices, and stock up when prices drop.

While many retailers continue to raise prices, Costco is actually cutting some of them.

According to comments made during Costco's latest earnings call, the warehouse giant has quietly reduced prices on several popular Kirkland Signature products, with savings ranging from about $1 to $10 per item.

For budget-conscious shoppers, it's a reminder that even during times of inflation, prices don't always move in one direction.

Which products got cheaper?

Costco executives highlighted several Kirkland Signature products that recently received price cuts:

• Kirkland Signature Crispy Wings: $16.99 to $14.99
• Kirkland Signature Milk Chocolate Almonds: $19.99 to $18.99
• Kirkland Signature Golf Balls: $32.99 to $29.99
• Kirkland Signature King Size Sheets: $89.99 to $79.99

Those may not seem like massive discounts individually, but frequent Costco shoppers know that meaningful savings often come from dozens of small wins throughout the year.

What's particularly notable is that some of these products had previously generated complaints online from shoppers who felt prices had climbed too aggressively over the past few years.

Why Costco is lowering prices

During the earnings call, Costco CEO Ron Vachris said the company's philosophy is simple: "Our goal is to be the first to lower prices and last to raise them."

That's a strategy that helps explain why Costco continues to maintain one of the strongest customer loyalty rates in retail.

Rather than maximizing profit on every item, Costco often focuses on keeping members happy and driving repeat visits.

The company has used this strategy before. In 2024, Costco lowered prices on several Kirkland products, including macadamia nuts, olive oil, foil, laundry packs, and baguettes.

The latest round of cuts suggests the retailer is continuing to look for opportunities to pass savings along when costs improve.

What smart shoppers should do now

While price cuts are great, there are other ways to stretch your Costco savings even further. Here are five tips that shoppers should focus on now.

• Watch for double discounts. Just because an item recently dropped in price doesn't mean it's done getting cheaper. Many Kirkland products still rotate through monthly warehouse promotions and instant savings events. If a product is already cheaper than last year and then receives an additional warehouse discount, that's often the best time to stock up.
• Learn Costco's markdown clues.Prices ending in .97 indicate clearance items that have a price markdown attached to them. That means if you spot a Kirkland product that's already been reduced and carries a .97 price tag, it may be one of the best deals in the warehouse.
• Build your shopping list around Kirkland. Costco executives noted that Kirkland Signature continues to outperform national brands. That's not surprising, as Kirkland products are often priced 15% to 30% below comparable name-brand alternatives while maintaining similar quality standards. Whenever possible, compare Kirkland versions first before reaching for the national brand.
• Buy when prices fall, not when you need it. Items like sheets, golf balls, snacks, and freezer foods can often be purchased well before you actually need them. This means that smart Costco shoppers treat price drops as buying opportunities rather than waiting until an item becomes an urgent purchase.
• Track prices on your favorite items. Many shoppers notice price increases immediately but fail to notice when prices come down. Try keeping a running list of your most-purchased Costco items in your phone along with their typical prices. This will help you spot genuine deals and know when it's time to stock up.

People are saving but are uncertain about the future

By Mark Huffman of ConsumerAffairs

• Fewer than six in 10 Americans believe they are building a large enough nest egg for retirement, according to a new Transamerica Institute report.

• Despite modest gains in retirement savings since the pandemic, confidence in achieving a comfortable retirement has remained unchanged.

• Concerns about Social Security, healthcare costs, and outliving savings continue to weigh heavily on workers and retirees alike.

Since the COVID-19 pandemic, which created economic turmoil, Americans have litle progress toward achieving retirement security. Thats the conclusion of a new report from the Transamerica Center for Retirement Studies and Transamerica Institute.

The findings suggest that while more people are saving for retirement, many remain uncertain about their financial future.

The report, Life and Money: Retirement Security in the USA, analyzed retirement trends from 2020 through 2025 and found what researchers described as "lackluster" improvements in key measures of retirement readiness. The study is based on surveys of more than 60,000 Americans conducted over the five years.

One of the report's central findings is that only 59% of Americans believe they are currently building or have already built a retirement nest egg large enough to meet their future needs. While that represents a slight improvement from 55% in 2020, researchers say it is far from a sign that retirement security has substantially improved.

Retirement confidence has barely budged. Two-thirds of Americans, 66%, say they are confident they will be able to retire comfortably, the same percentage recorded at the height of the pandemic in 2020. Only about one in five respondents describe themselves as "very confident."

However, some encouraging signs

The study found some encouraging signs. Among workers who have not yet retired, the percentage saving for retirement increased from 65% to 69% over the five-year period. Median household retirement savings also rose, increasing from $44,000 in 2020 to $56,000 in 2025. Even so, researchers caution that those gains may not be enough to offset higher living costs and longer life expectancies.

Many Americans remain deeply worried about retirement. The survey found that 62% believe they could work throughout their careers and still fail to save enough for retirement. Respondents cited rising living expenses, economic uncertainty, and concerns about the future of Social Security as major obstacles to long-term financial security.

Health-related concerns loom especially large. Americans' top retirement fear is declining health that requires long-term care, followed closely by concerns that Social Security benefits could be reduced in the future. Many also worry about outliving their savings, losing their independence, or facing healthcare expenses they cannot afford.

Growing challenges

The report arrives as policymakers face growing pressure to address the long-term financing challenges confronting Social Security and Medicare. Catherine Collinson, CEO and president of Transamerica Institute and the Transamerica Center for Retirement Studies, said maintaining those programs will be critical to improving retirement outcomes for future generations.

Researchers concluded that retirement security remains a work in progress. While Americans have demonstrated resilience by continuing to save despite economic disruptions, the pace of improvement has been slow, leaving millions uncertain about whether they will have enough money to sustain themselves in retirement.