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Tag Archives: Bankrate

Closing Will Cost You in New York

The numbers are in, and New York tops the list of states boasting the highest mortgage closing costs nationwide. The results of the Bankrate, Inc. survey demonstrate New York├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós dubious dominance in closing fees for the second straight year. Other high-cost areas rounding out the top five? Texas, Utah, San Francisco, and Idaho. Nationally, the total cost of origination and title fees has risen since last year by 8.8 percent, to an average cost of $4,070 on a $200,000 mortgage.

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Mortgage Rates Continue Slide

Surveys released by Bankrate and Freddie Mac on Thursday confirm a continuing slide in fixed and adjustable mortgage rates, with analysts attributing the declines to news about weak job growth. Figures in Freddie Mac's report trended alongside those in Bankrate's weekly survey to reveal a decline for 30-year fixed-rate averages to 4.49 percent and 4.65 percent, respectively. Bankrate says its findings reflect a straight nine-week fall for mortgage rates, made more unstable by restive housing markets and long-term government debt.

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