Texas regulators have ordered title insurers to reduce their rates by 3.2 percent effective Feb. 1.
The order, signed by Texas Insurance Commissioner Mike Geeslin, will cut the cost of title insurance for a typical $100,000 home to $843, compared with $1,023 in 1998.
In the last eight years, Texas has cut title insurance rates by 17 percent, including a 6.5 percent reduction in 2004, the department said in a news release.
Source: San Antonio Express-News