Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs.

The national average closing costs for a single-family property refinance in 2021 was $2,375, up $88, or 3.8%, from the previous year, according to CoreLogic‘s ClosingCorp. While refinance closing costs increased marginally, the bump was still less than 1% of the average refinance loan amount of $304,909 and below the national inflation rate of details ⇒

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