With mounting mortgage origination fees, mortgage closing costs rose 6 percent to $2,402 in the past year, according to an analysis by Bankrate.com.
Origination fees, which are typically paid up-front to lenders for processing loans, increased eight percent to $1,730, while third-party fees grew by 1 percent to $672.
Hawaii's average closing cost of $2,919 is the highest in the country. Alaska ($2,675), South Carolina ($2,658), California ($2,639) and New Mexico ($2,566) round out the top 5 list.
"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 with Bankrate.com, in a statement.
To collect its data, which excludes taxes, title fees, property insurance, association fees, interest and other prepaid items, Bankrate surveyed up to 10 lenders each state plus the District of Columbia in June 2013. The average closing costs are based on estimates for a $200,000 mortgage for a single-family home with a 20 percent down payment. Costs include fees charged by lenders and third-party fees for services such as appraisals.
Here's a list of the top 19 most expensive states by mortgage closing costs:
|North Dakota (tie)|
|District of Columbia|