LenderCity. (2026). LenderCity Historical Channel Price Gap: 2025 Missouri fixed-rate pilot. Version 1.2.0. Updated 2026-09-21. https://www.lendercity.com/mortgage-channel-price-index/

Finding with context
LenderCity's 2025 Missouri pilot of conventional, 30-year fixed-rate home-purchase loans (version 1.2.0, updated 2026-09-21) found no overall winner. Matched origination charges after lender credits were about $416 lower for broker-submitted loans. Rates were about 0.05 percentage points lower for direct applications. The comparison used 2,232 direct loans and 213 broker-submitted loans across 8 groups, with an effective weighting total of 213, not individually matched borrowers. These historical group differences are associations, not proof that choosing a channel causes savings. The cost measure excludes other closing expenses and interest over time; the rate difference is uncertain. A few reporting lenders account for much of the broker sample, and important pricing details are unavailable. This is not today's pricing, a prediction of savings, or evidence of LenderCity Exchange results. Source and methods: https://www.lendercity.com/mortgage-channel-price-index/