The national average total closing costs for a purchase mortgage transaction were $4,661. This amount consists of a national average of 1.06% of the home sales price.
Here’s one last mortgage industry vibe check before the holidays. With just three and a half short weeks before break, Jim and Alayna give their take on the state of the mortgage industry.
Well, we’re officially into the fall season. At least, as far as the mortgage industry is concerned. Although there may be some uncertainty out there about the lingering pandemic, the changing market and even conference season; think back to this time last year and compare (or contrast). We may not yet be back to “normal,” whatever that means. But we certainly are moving forward.
Yes, we did tease this topic a bit a few weeks ago. However, that posting was intended more as an observation or reflection on mid-summer. I hope you all managed to get a little rest and refreshment, because Labor Day, which is the virtual, annual green flag for what tends to be the most frenetic time of year in business, is on top of us. We have a lot to discuss.
First things first. Thank you to MPA for naming us among its 5-Star Mortgage Technology Providers recently. To think that our Closing Cost Calculator has propelled LodeStar onto some of the same lists occupied regularly by some of the largest companies in the mortgage industry is truly humbling.
Read our CEO Jim Paolino’s Deeper Thoughts and get the latest mortgage industry news.