By Stephanie Armour, USA TODAY
A new federal rule this year requiring mortgage lenders to give borrowers
reliable estimates of closing costs appears to be working — whether it's
also costing borrowers more money is uncertain.
A recent survey by Bankrate.com found that, on average, origination
and third-party fees on a $200,000 purchase mortgage added up to $3,741 —
a 37% jump over last year's average of $2,739.
Tuesday, August 31, 2010
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