As home prices rise, so do closing costs

“Though the typical dwelling value elevated by practically $45,000, the closing prices, excluding taxes, on that property solely elevated by $400,” Bob Jennings, CEO of ClosingCorp, mentioned in an announcement. “The truth is, closing prices as a share of buy costs declined this yr, going from 1.06 p.c of the transaction in 2020 right down to 1.03 p.c. So, along with maintaining with excessive demand, the mortgage business is doing an excellent job in holding down the prices it might probably management.” | As dwelling costs rise, so do closing prices


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