As housing prices drop, closing costs are rising
Nationwide, the average origination and title fees on a $200,000 purchase mortgage totaled $4,070, according to Bankrate’s annual survey of closing costs. That’s an 8.8 percent jump compared to 2010 when the average closing costs totaled $3,741.
Most of the jump in closing costs is tied to fees charged directly by lenders.
Check out our section on Closing Costs to learn more about closing costs and escrow.