Pennsylvania is #7 out of 10 in Most Expensive Closing Costs

The housing market may be slow but closing costs are still going up.  Is it surprising that PA is near the top in costs?  Ask your real estate professional for an estimate of closing costs early in the buying process so there are no suprises!

According to a survery by bankrate.com the 2007 average closing cost of $2,736 has gone up to an average of $3,118 in 2008, a 14 percent increase. New York City at $4,016 is the most expensive place to close. North Carolina is the least expensive area with an average fee of $2,650.

Here are the top 10 most expensive states to pay closing costs.

1. New York: $4,016
2. Texas: $3,975
3. Florida: $3,683
4. Oklahoma: $3,558
5. New Mexico: $3,465
6. New Jersey: $3,432
7. Pennsylvania: $3,411
8. Alaska: $3,409
9. Colorado: $3,358
10. California: $3,321

Source: Bankrate.com (08/07/08)
excerpted from Realtor.com

WSJ Economist Poll Results for Fannie Mae & Freddie Mac

Wall Street Journal Poll indicates many economists feel government is going to need to help Fannie Mae & Freddie mac to keep them afloat.  Follow the link for more -

http://www.inman.com/news/2008/08/15/poll-feds-likely-aid-fannie-freddie