Colorado has the nation’s 27th highest mortgage closing costs with the average closing cost being $2,383, said Monday.
Bankrate noted that mortgage closing costs rose six percent over the past year averaging $2,402 nationally.
Origination fees accounted for the bulk of the increase. They jumped to eight percent to $1,730, while third-party fees edged up one percent to $672.
Hawaii’s average closing costs of $2,919 are the highest in the nation.
New Mexico, at $2,566, ranked fifth highest while Kansas, at $2,193, had among the lowest mortgage closing costs.
Wisconsin had the lowest with $2,119.
“It’s unlikely that you will move to Wisconsin solely to pay lower closing costs, but you should shop around and compare fees from different loan originators to make sure you get the best deal in your area,” said Polyana da Costa, senior mortgage analyst, Bankrate.com.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
