Tag Archives: Home Buyers Face Higher Closing Costs

Rising mortgage rates aren’t the only problem house hunters are facing. Closing costs for loan origination and other fees have increased 6 percent in the past year, according to a survey by Bankrate.com. Borrowers with stellar credit who are making a 20 percent down payment are still forking over an average of $2,402 in closing costs on a $200,000 loan. The main catalyst for the increase in closing costs is origination fees, which have jumped 8 percent in the past year. Rising interest rates often cause origination fees to go […]