OKLAHOMA CITY – Mortgage closing costs shot up 6% over the past year and now average $2,539 on a $200,000 loan, according to Bankrate.com.
Oklahoma has the 29th highest mortgage closing costs in the nation at $2,498.
Texas’ average closing costs of $3,046 are the highest in the nation.
Alaska, New York, Hawaii, and Wisconsin round out the top five.
Bankrate.com says the cheapest closing costs are in Nevada, with an average of $2,265.
Tennessee, Missouri, Ohio, and Washington D.C. make up the bottom five.
“New mortgage regulations are the biggest reasons why closing costs went up over the past year,” said Holden Lewis, senior mortgage analyst, Bankrate.com. “The good news is that some lenders have not increased fees. To get the best deal, consumers should compare good faith estimates from at least three different lenders.”