NEW YORK, Sept. 2 /PRNewswire-FirstCall/ -- A new study released by Bankrate, Inc. (Nasdaq: RATE) shows that the cost of getting a mortgage has fallen nationwide, a reflection of the price shift in the housing market. Nationwide, the average origination and title fees on a $200,000 mortgage this year totaled $2,732, down from $3,118 in 2008. In the study's geographical breakdown, Texas leads the nation at an average fee of $3,855, with New York City, Florida, San Francisco and Oregon rounding out the top five. Nevada is the least expensive area with an average fee of $2,276, replacing North Carolina at the bottom of the list. To view the complete study and analysis of the data, as well as tips on what to look for in closing costs when getting a mortgage, go to http://www.bankrate.com/finance/mortgages/state-by-state-closing-costs8-131404.aspx.

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"Consumers need to keep a look out for the standard fees when figuring out the true cost of their new home," said Holden Lewis, senior reporter with Bankrate.com. "Even as the average closing costs go down across the nation, some of these surprise costs can make your new home deal more expensive than you initially thought."

For this study, Bankrate surveyed one area in 49 states, two areas in California (Los Angeles and San Francisco) and the District of Columbia. Researchers picked a ZIP code in some of the largest cities in each state and requested information on the closing costs for at $200,000 loan. They requested fees on a 30-year, fixed-rate mortgage for a borrower with a 20 percent down payment and good credit to buy a single-family house. Bankrate's survey includes lenders' origination fees and title and settlement fees, and not taxes or prepaid items.

                                                Title
                                                 and
    2009  2008  State or city     Origination  closing  Total
    ----  ----  -------------     -----------  -------  -----
       1     2  Texas             $1,566       $2,290   $3,855
       2     1  New York - NYC    $1,038       $2,370   $3,408
       3     4  Florida           $1,369       $1,999   $3,368
       4    11  California
                 - San Fran       $1,264       $1,853   $3,117
       5    19  Oregon            $1,310       $1,750   $3,059
       6     9  Alaska            $1,183       $1,829   $3,012
       7     8  Pennsylvania      $1,137       $1,872   $3,009
       8     5  Oklahoma          $1,238       $1,748   $2,986
       9    12  Ohio              $1,222       $1,760   $2,982
      10    34  Washington        $1,329       $1,578   $2,906
      11   41*  North Dakota      $1,349       $1,555   $2,904
      12    24  Tennessee         $1,285       $1,616   $2,901
      13     6  New Mexico        $1,143       $1,739   $2,882
      14    13  California
                 - Los Angeles    $1,264       $1,597   $2,861
      15    35  Virginia          $1,312       $1,546   $2,858
      16    45  Utah              $1,238       $1,614   $2,852
      17    31  Arkansas          $1,232       $1,620   $2,852
      18   21*  Massachusetts     $1,132       $1,689   $2,822
      19    17  Michigan          $1,398       $1,404   $2,802
      20    15  West Virginia     $1,106       $1,640   $2,746
      21    20  Hawaii            $1,224       $1,515   $2,739
      22    38  Wisconsin         $1,430       $1,304   $2,734
      23    32  Louisiana         $1,082       $1,637   $2,720
      24    16  Connecticut       $1,188       $1,512   $2,700
      25    30  Mississippi       $1,229       $1,459   $2,689
      26    25  South Carolina    $1,159       $1,528   $2,687
      27    29  Idaho             $1,214       $1,446   $2,660
      28     7  New Jersey          $931       $1,725   $2,656
      29    10  Colorado          $1,161       $1,494   $2,655
      30   21*  Alabama           $1,276       $1,369   $2,645
      31    43  Georgia           $1,151       $1,487   $2,638
      32    52  South Dakota      $1,369       $1,256   $2,625
      33    36  Montana           $1,287       $1,324   $2,611
      34   49*  Wyoming           $1,346       $1,256   $2,602
      35    26  Delaware          $1,135       $1,443   $2,579
      36   41*  New Hampshire     $1,147       $1,428   $2,575
      37   49*  Iowa              $1,027       $1,546   $2,574
      38    40  Minnesota         $1,143       $1,418   $2,561
      39    27  Arizona           $1,088       $1,453   $2,541
      40    23  Maryland          $1,095       $1,418   $2,513
      41    28  District of
                 Columbia         $1,117       $1,384   $2,502
      42    39  Rhode Island        $954       $1,542   $2,495
      43    48  Illinois          $1,279       $1,207   $2,486
      44    14  Kentucky          $1,071       $1,401   $2,472
      45    44  Nebraska          $1,167       $1,286   $2,453
      46    56  North Carolina    $1,155       $1,276   $2,431
      47    54  Missouri          $1,186       $1,243   $2,429
      48    47  Vermont           $1,040       $1,386   $2,426
      49    53  Maine             $1,097       $1,322   $2,419
      50    46  Indiana           $1,145       $1,272   $2,417
      51    55  Kansas            $1,019       $1,341   $2,361
      52    33  Nevada              $946       $1,331   $2,276

    *tied

About Bankrate, Inc.

The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMeCreditCardGuide.com and Bankaholic. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2008, Bankrate.com had nearly 72 million unique visitors. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: TWX), The Wall Street Journal and The New York Times (NYSE: NYT). Bankrate.com's information is also distributed through more than 500 newspapers.

    For more information contact:
    Chris Spagnuolo
    Public Relations Manager
    cspagnuolo@bankrate.com
    (917) 368-8671

www.bankrate.com

SOURCE Bankrate, Inc.