Closing Costs Rise 14 Percent This Year 

The cost of getting a mortgage continued to climb last year, despite historic industry headwinds that saw demand for mortgages drop dramatically — a study of average closing costs, released Thursday morning, found that 2007’s average cost of $2,736 has jumped 14 percent to $3,118 in 2008. Which means that borrowers aren’t just having a tougher time finding a mortgage, they’re paying more to get it, too.