Mortgage Closing Costs Up 6% This Year

According to a recent survey by Bankrate.com, closing costs averaged $2,402 over the past year, up 6% from 2012. On the other hand, mortgage rates were near record lows for most of this year. This allowed lenders a steady flow of customers who sought to purchase new loans or refinance existing ones.
Now as mortgage rates rise, the pool of customers seeking loans is beginning to shrink. Speculators belive that lenders will likely begin to discount their closing costs in order to continue attracting customers.

Link to the article:
http://money.cnn.com/2013/08/06/real_estate/closing-costs/index.html?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29

Source: MONEY.CNN.com