Closing costs dropped 7.1 percent year-over-year, falling from $1,989 in 2014 to $1,847 in 2015, according to a newly released Bankrate.com survey. For its analysis, Bankrate requested Good Faith Estimates from up to 10 lenders in the nation’s largest cities for a hypothetical $200,000 mortgage for a single-family home assuming a 20 percent down payment.

