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Bankrate.com study: NY, TX and FL top the nation in closing costsMortgagePress.comBankrate.com, closing sosts, GFEs A new study released by Bankrate, Inc. shows that the cost of getting a mortgage continues to rise despie a soft housing market. The 2007 average closing cost of $2,736 has gone up to an average of $3,118 in 2008, a 14 percent increase. In the study's geographical breakdown, New York City leads the nation at an average fee of $4,016, with Texas, Buffalo, Miami and Oklahoma rounding out the top five. North Carolina is the least expensive area with an average fee of $2,650, replacing Indiana (now #45 with an average fee of $2,878) at the bottom of the list. To view the complete study and analysis of the data, as well as tips on what to look for in closing costs when getting a mortgage, click here. "Often times, consumers forget about the added fees involved in buying a home," said Holden Lewis, senior reporter with Bankrate.com. "Closing costs can be extremely expensive if not researched thoroughly. Keeping closing costs at a minimum can make a big difference to homebuyers during difficult economic times." Bankrate's Closing Cost study was conducted in June and July of 2008 by obtaining four to nine good faith estimates (GFEs) from the Web sites of online lenders. Researchers picked a ZIP code in some of the largest cities in each state and requested information on the closing costs for at $200,000 loan. They requested fees on a 30-year, fixed-rate mortgage for a borrower with a 20 percent down payment and good credit to buy a single-family house. Bankrates survey includes lenders' origination fees and title and settlement fees, and not taxes or prepaid items. For more information, visit www.bankrate.com.