Although the past year’s historically low mortgage rates have saved home buyers money, a Bankrate.com survey shows they paid more at the settlement table. Assuming a $200,000 loan and a 20 percent down payment, the poll determined that realty closing costs climbed 6 percent this year to $2,402 from $2,264 last year. Origination or underwriting fees, meanwhile, were 8 percent higher at $1,730; and third-party fees for appraisals, credit checks, and other services nudged up 1 percent to an average of $672. With favorable mortgage rates bringing in a steady stream of customers, “lenders really didn’t have to compete as much for business, they were free to charge higher closing costs,” noted Bankrate.com analyst Polyana da Costa. | Read More
Recent Posts
- OEPLAY Goes Full Circle as a Wireless Audio Speaker
- Maiden Home Introduces a New Era of Retail With Tribeca House
- F5: Tiffany Howell Talks Female Nudes, Good Records + More
- A Humble 1950s Wood Cabin Becomes a Retreat-Like Home in Montecito
- Kristina Dam Studio’s Sturdy Edo Table Is Made of Cardboard + Fabric
Archives
Categories
- Decor (1,496)
- Energy Saving Tips (15)
- Green Design (22)
- Greening Tips (757)
- Home Improvement (1,562)
- Home Remodeling (16)
- Home Security (10)
- Homeowners News (1,265)
- Homeowners News;Top Story (3)
- Housing and Mortgage Trends (467)
- Insurance (1)
- Maintenance and Repair (10)
- Safety (4)
- Smart Home Tech (1,141)
- Top Story (106)