Average Mortgage Closing Costs Down 7.4% Over Past Year

In welcome news for the housing market, CNN Money recently reported that the average cost of closing on a mortgage has fallen by 7.4% over the past year. As an example, at the end of June, a home buyer in the United States looking to close on a $200,000 mortgage with 20% down paid an average of $3,754. That’s $300 less than 12 months earlier. Apparently, the decline can be attributed to new federal regulations, which require lenders to be more accurate when estimating closing costs for borrowers. Read the rest of the CNN Money article

Turning to mortgage news in Colorado, Bankrate.com conducted a nationwide survey in 2012 of mortgage closing costs. Looking at every state in the country, Bankrate.com found that Colorado had the third lowest average closing costs for home mortgages. Based once again on a $200,000 mortgage with 20% down, Colorado closing costs were generally $555 less than the national average, coming in at $3,199. Great news for anyone buying a home in our state!

If you’re interested in potentially getting into the Summit County real estate market, this is a great time to find bargains in homes that have been on the market all summer but haven’t quite sold yet. Please don’t hesitate to contact Philip with your questions.

Summit County Listings With Price Drops in Last 4 Days

(Arranged below by newest listing first)

Start of list of properties

Jun 22nd, 1:00PM to 4:00PM
Open House Jun 22nd
3
57 Copper Circle, #204
Copper Mountain, CO 80443
$747,500
For Sale
1
Beds
1
Baths
748
square feet,
Location! Location! Location! The Lodge at Copper is tucked into the trees at the base of Copper Mountain's ski, bike & hiking t... (more)
# S1050926
Carbonate Real Estate
$747,500
For Sale
Residential
1 days on this site
Reduced by $15,900 4 days ago
26
708 Lagoon Drive, #C
Frisco, CO 80443
$949,000
For Sale
2
Beds
3
Baths
1,226
square feet,
Lagoon Townhomes is rareviews from every deck, a private pond with fishing accesswide open living with room for dining and living... (more)
# S1050777
The Gongloff Group
$949,000
For Sale
Residential
7 days on this site
Reduced by $50,000 Yesterday
42
1121 Rainbow Drive
Silverthorne, CO 80498
$1.099m
For Sale
3
Beds
2
Baths
1,653
square feet,
NO HOA and in Silverthorne Town Limits Area 1 so Short Term Rentals are Okay! All NEW Exterior Paint. Fenced yard, 10x12 Storage ... (more)
# S1050646
Liv Sotheby's I.r.
$1,099,000
For Sale
Residential
13 days on this site
Reduced by $10,000 Yesterday
33
22138 Us Highway 6, #1553
Keystone, CO 80435
$625,000
For Sale
1
Beds
1
Baths
653
square feet,
Welcome to your dream lakefront mountain retreat! This delightful, fully furnished 1-bedroom, 1-bath condo comfortably sleeps 4 ... (more)
# S1049389
Liv Sotheby's I.r.
$625,000
For Sale
Residential
20 days on this site
Reduced by $35,000 4 days ago
38
1318 Royal Buffalo Drive
Silverthorne, CO 80498
$1.45m
For Sale
3
Beds
3
Baths
2,336
square feet,
Backing to open space with views to Keystone, Lake Dillon, Peak One and the Gore Range, enjoy easy access to hiking, snowshoei... (more)
# S1050399
Colorado Real Estate Company-barb Schneeman
$1,450,000
For Sale
Residential
21 days on this site
Reduced by $25,000 3 days ago
35
22 North Side Circle
Wildernest, CO 80498
$819,000
For Sale
3
Beds
3
Baths
1,406
square feet,
Great opportunity to build some sweat equity in this 3-bedroom duplex with a 2-car garage in Wildernest. No HOA keeps your monthl... (more)
# S1049258
Slifer Smith & Frampton R.e.
$819,000
For Sale
Residential
28 days on this site
Reduced by $125,000 2 days ago
50
1003 Boreas Pass Road
Breckenridge, CO 80424
$3.85m
For Sale
4
Beds
5
Baths
4,557
square feet,
Back on the market at no fault of Seller. Nestled adjacent to the heart of downtown Breckenridge, just past the ice arena and on... (more)
# S1049054
Nelson Walley Real Estate
$3,850,000
For Sale
Residential
30 days on this site
Reduced by $50,000 Yesterday
49
363 Blue Ridge Road
Breckenridge, CO 80424
$1.449m
For Sale
2
Beds
2
Baths
1,684
square feet,
2646 sq. ft. custom-built mountain home (1684 sq. ft. finished). Welcome to your mountain sanctuary! Perfect for avid skiers, out... (more)
# S1048906
Re/max Properties/69
$1,449,000
For Sale
Residential
36 days on this site
Jun 22nd, 3:00AM to 5:00PM
Open House Jun 22nd
50
21700 Us Highway 6, #2020
Keystone, CO 80435
$879,000
For Sale
2
Beds
2
Baths
1,115
square feet,
Don't miss this rare opportunity to own your own slice of Keystone at Lodgepole Condos, your gateway to the ultimate mountain liv... (more)
# S1048556
Colorado R.e. Summit County
$879,000
For Sale
Residential
36 days on this site
Reduced by $25,000 Yesterday
41
588 Alpine Road
Dillon, CO 80435
$1.07m
For Sale
3
Beds
2
Baths
1,526
square feet,
Remarkable location in Dillon Valley. New windows, doors, garage door, and carpeting throughout. This home borders open space a... (more)
# S1048787
Liv Sotheby's I.r.
$1,070,000
For Sale
Residential
37 days on this site
Property listing data provided by Summit County multiple listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. The sale offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice.
Listing Data last updated: 06/21/2024 10:47 PM
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