Web Exclusive: Mortgage loans rates down, but closing costs rise - KYTX CBS 19 Tyler Longview News Weather Sports

Web Exclusive: Mortgage loans rates down, but closing costs rising

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(CNN/CBS) - Home buyers may have enjoyed record low mortgage rates over the past year, but they were paying a pretty penny when it came time to close the deal.  That's according to a survey by bankrate.com.  

Nationwide, closing costs averaged about $2,400 dollars over the past year, up six percent from 2012.  The estimates were based on a $200,000 dollar mortgage for buyers with good credit and a 20%.  Origination fees, also called underwriting fees were up, as were third-party fees, which include the cost of an appraisal and credit check.  

According to the survey, Hawaii has the highest closing costs.  Buyers in Wisconsin paid the least.  Texas ranked 13th highest in closing costs.

General Motors is knocking $5,000 dollars off the sticker price of the new 2014 Chevy Volt. 
The discount cuts the price of the electric car from $40,000 dollars to $35,000 grand.     
According to GM, government tax rebates can bring the price down to as low as about $27,500. Pricing and incentives on electric cars have been getting more aggressive recently as automakers try to improve sales.
 
In a surprise move, the Washington Post company will sell it's flagship newspaper to Amazon founder Jeff Bezos.  The sale of the post will end the storied leadership of the Graham family, who have published the paper for four generations.  Bezos will reportedly pay $250 million dollars in cash to the Washington Post Company, which also owns other businesses.  Amazon is not involved in the transaction.

Jet-Blue is going first class.  The airline which is known for its all-coach service is adding 16 lie-flat first class seats on its transcontinental flights.  It's the first time Jet-Blue will have two types of service.   Jet-Blue says the new, larger seats will be located in the front of the plane and will convert into a single bed.  Some seats will be walled off from the aisle with a sliding door in what Jet-Blue calls its "suites." 

 

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