House buyers $tung - NYPOST.comJust when you thought it was safe to dive into the housing market, a new survey shows mortgage closing costs have skyrocketed an average 37 percent -- with New York topping the surge. The Bankrate.com survey released this week found that in New York, closing-cost fees hit $5,623, basing the estimate on a $200,000 mortgage for a $250,000 home. The national average on that same loan was $3,741 -- up from $2,739 last year. Blame it on regulations designed to rein in the mortgage industry.
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So we have lots of new rules for lenders, tougher requirements for getting a loan, and higher costs. Now go buy a house.