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Mortgage closing costs up from 2010

The average cost of closing on a mortgage went up significantly in Hawaii.

The average cost of closing on a mortgage went up significantly in Hawaii.

New York has the highest average mortgage closing costs in the nation, but most of the other states with high closing costs are located west of the Mississippi, according to numbers recently released by Bankrate.

For the second year in a row, New York topped the Bankrate list of average closing fees, at $6,183. Texas ($4,944), Utah ($4,906), Northern California/San Francisco ($4,832) and Idaho ($4,643) rounded out the top five. Idaho, up from number 10 last year, was a big mover at the top of the list, though it did not see costs climb as much as Hawaii, which vaulted to number 10 from number 36 in 2010.

Overall, fees went up 8.8 percent from last year. Greg McBride, Bankrate senior financial analyst, told Bloomberg News stricter regulations have meant increased costs for lenders, who offset the expense by charging higher closing fees. [where's the source material for this?]

North Carolina, recently named a top relocation destination for young people by OnNumbers and a top state for business by CNBC, had the second-lowest average closing costs, at $3,410.