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The 30-year fixed mortgage rate hit 3.70% last week, but one-third of buyers are not doing the comparison shopping needed to take advantage of them, CNBC reports.

The drop last week meant that 8.2 million 30-year mortgage holders could likely qualify for a refinance and save at least 0.75% off of their current interest rate by doing so, according to a new tally by Black Knight, a mortgage software and analytics company.

“Lower rates have also increased the buying power for prospective homebuyers looking to purchase the average-priced home by the equivalent of 15%, meaning that they could effectively buy $45,000 ‘more house’ while still keeping their payments the same as they would have been last fall,” said Ben Graboske, president of Black Knight Data and Analytics.

Rates are now incredibly favorable for both refinance and home purchase, consumers still need to shop around for the best rate. But a full one-third of them are not, according to a new survey from Fannie Mae. The vast majority of consumers will comparison shop for other products, but mortgages are apparently too daunting.

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