{"id":211,"date":"2026-05-16T15:37:11","date_gmt":"2026-05-16T15:37:11","guid":{"rendered":"https:\/\/usrelocationpost.com\/?p=211"},"modified":"2026-05-16T15:37:11","modified_gmt":"2026-05-16T15:37:11","slug":"map-reveals-states-with-highest-mortgage-closing-costs","status":"publish","type":"post","link":"https:\/\/usrelocationpost.com\/?p=211","title":{"rendered":"Map Reveals States With Highest Mortgage Closing Costs"},"content":{"rendered":"
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Americans\u2019 interest in refinancing their mortgage payments has risen in the months leading up to the start of the Iran war, fueled by a steady decline in rates that was only reversed after the U.S. and Israel launched joint strikes on the Middle Eastern country, leading them to jump back above the 6 percent mark.<\/p>\n

Read more Map Reveals Cities Facing Worst Mosquito Swarms This Summer<\/a><\/p>\n

Application for loan refinancing actually declined 4.4 percent in the week ending May 8 when compared to the previous week, according to the latest data by Haver Analytics, but were up a whopping 14.9 percent year-over-year.<\/p>\n

That is probably because mortgage rates, while once again rising, are much lower than they were this time of the year in 2025. As of May 14, the 30-year fixed-rate mortgage was 6.36 percent, down from 6.81 percent a year earlier.<\/p>\n

For many Americans, refinancing their mortgage can be a significant improvement in affordability. The average refinance loan amount in the U.S. is now $330,622, according to a new study by LodeStar Software Solutions, a provider of mortgage closing cost data.<\/p>\n

The average total closing costs with recording and taxes are $2,207, or 0.67 percent of the refinance loan amount.<\/p>\n

But in some states, closing costs can be much higher\u2014making it significantly less convenient for homeowners.<\/p>\n

States Where Closing Costs to Refinance Are the Highest<\/h2>\n

Closing costs tend to be higher in states where the transfer taxes make up a big bulk of the overhead. New York has the highest closing costs as a percentage of sale price in the nation, at 2.06 percent of the refinance loan amount.<\/p>\n

It is followed by Florida (1.36 percent), Oklahoma (1.13 percent), Pennsylvania (1.01 percent) and Texas (0.96 percent).<\/p>\n

\u201cThe state-by-state ranking largely aligns with what industry participants would expect,\u201d Ron Carvalho, LodeStar\u2019s Director of Data, said in a statement.\u00a0<\/p>\n