As housing prices drop, closing costs are rising

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.

Read More on MSNBC.com

Check out our section on Closing Costs to learn more about closing costs and escrow.