AgentIndustry News

Want to save on closing costs? It pays to shop around

Bankrate says closing costs dropped 7 percent in the last year as more buyers weighed their options

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Takeaways: Homeowners who shopped around for mortgages and settlement services saw closing costs drop as much as 7 percent. Buyers in Hawaii paid $2,163 in closing fees. Buyers in Ohio had the lowest closing costs, paying only $1,613. Nationwide, the average origination fee declined 22 percent to $1,041, and the average third-party fee rose 22 percent to $807. Buyers who take the time to shop around for their mortgages and some of their settlement services are saving hundreds of dollars on some of their closing costs, according to a recent Bankrate survey. Those who got more involved in their homebuying experience saw their closing costs drop as much as 7 percent, Bankrate said. To arrive a...