Closing Costs Rise 6% Over Last Year

Closing Costs Rise 6% Over Last Year

Mortgage closing costs are up 6 percent over the past year, according to a report from Bankrate.com. 

The average closing cost across the United States rose over the year to $2,402. Origination fees increased 8 percent to $1,730—accounting for the bulk of the increase in closing costs—while third-party fees rose 1 percent to $672. 

Demand for Non-Traditional, Sub-prime Loans Up: Adding to concerns of a new housing bubble, lenders reported an increase in demand for “non-traditional”