Laurel USDA Loan Rates, Closing Costs & Stats

Laurel, MS

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Laurel's 10 lenders originated 21 USDA loans during 2023. The total origination value was $3,265,000, with an average USDA loan value of $155,476.

Laurel USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Laurel averaged -0.14% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Laurel's average USDA mortgage closing costs are $4,232.

The average rate for the prior week (2024-11-22) was 6.66% and one month ago for the week of 2024-10-25, the average rate was 6.36%.

The average rate one year ago was 7.36%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Laurel USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Laurel level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Regions Bank 6 7.23% $6,002
FirstTrust Home Loans, Inc. 3 7.25% $8,321
Community Bank of Mississippi 2 6.44% $3,966
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.63% $9,066
Merchants & Marine Bank 1 6.99% $5,517
STOCKTON MORTGAGE CORPORATION 1 7.25% $9,214
Trustmark National Bank 1 5.88% $4,960
EVERETT FINANCIAL, INC. 1 7.63% $4,248
FIRST COLONY MORTGAGE CORPORATION 1 7.00% $8,726
GMFS LLC 1 7.50% $7,987

The top Laurel USDA lender as defined by loan originations is Regions Bank, with 6 USDA loans originated. Their average total fees are $6,002, which is $2,319 lower than the next largest lender, FirstTrust Home Loans, Inc..

The lowest fee Laurel USDA lenders (with over 10 loans originated) are .

The lowest rate Laurel USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Laurel (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $139,700 (8.0%) $166,514 (6.1%) 0.00 262
2018-02-01 $139,375 (9.1%) $166,471 (8.6%) 0.00 264
2018-03-01 $135,000 (5.5%) $162,159 (5.3%) 0.00 255
2018-04-01 $136,000 (4.7%) $163,067 (5.5%) 0.00 261
2018-05-01 $134,875 (6.2%) $164,820 (6.7%) 0.00 259
2018-06-01 $135,000 (-3.0%) $168,247 (4.2%) 0.00 255
2018-07-01 $136,625 (-1.7%) $174,408 (7.2%) 0.00 259
2018-08-01 $131,200 (-1.5%) $176,911 (8.6%) 0.00 249
2018-09-01 $143,700 (2.9%) $183,091 (6.7%) 0.00 252
2018-10-01 $146,600 (6.3%) $182,201 (5.8%) 0.00 257
2018-11-01 $144,900 (3.9%) $182,280 (9.2%) 0.00 242
2018-12-01 $140,000 (0.5%) $179,245 (8.1%) 0.00 223
2019-01-01 $139,950 (0.2%) $175,532 (5.4%) 0.00 223
2019-02-01 $141,875 (1.8%) $179,699 (8.0%) 0.00 221
2019-03-01 $151,386 (12.1%) $188,279 (16.1%) 0.00 214
2019-04-01 $158,511 (16.6%) $196,271 (20.4%) 0.00 206
2019-05-01 $145,450 (7.8%) $188,794 (14.6%) 0.00 205
2019-06-01 $159,000 (17.8%) $197,668 (17.5%) 0.00 202
2019-07-01 $160,625 (17.6%) $208,917 (19.8%) 0.00 198
2019-08-01 $153,705 (17.2%) $207,269 (17.2%) 0.00 193
2019-09-01 $151,761 (5.6%) $205,854 (12.4%) 0.00 187
2019-10-01 $150,466 (2.6%) $205,022 (12.5%) 0.00 182
2019-11-01 $164,500 (13.5%) $214,022 (17.4%) 0.00 173
2019-12-01 $161,000 (15.0%) $221,402 (23.5%) 0.00 167
2020-01-01 $156,750 (12.0%) $207,236 (18.1%) 0.00 157
2020-02-01 $162,000 (14.2%) $218,543 (21.6%) 0.00 148
2020-03-01 $161,500 (6.7%) $216,574 (15.0%) 0.00 139
2020-04-01 $156,450 (-1.3%) $210,192 (7.1%) 0.00 144
2020-05-01 $164,000 (12.8%) $222,469 (17.8%) 0.00 131
2020-06-01 $156,250 (-1.7%) $220,528 (11.6%) 0.00 120
2020-07-01 $149,600 (-6.9%) $218,337 (4.5%) 0.00 114
2020-08-01 $159,500 (3.8%) $228,165 (10.1%) 0.00 104
2020-09-01 $168,375 (11.0%) $243,808 (18.4%) 0.00 92
2020-10-01 $191,000 (26.9%) $241,166 (17.6%) 0.00 82
2020-11-01 $176,350 (7.2%) $230,918 (7.9%) 0.00 78
2020-12-01 $189,250 (17.6%) $243,154 (9.8%) 0.00 91
2021-01-01 $161,000 (2.7%) $251,194 (21.2%) 0.00 87
2021-02-01 $192,000 (18.5%) $256,413 (17.3%) 0.00 82
2021-03-01 $161,013 (-0.3%) $236,700 (9.3%) 0.00 68
2021-04-01 $183,475 (17.3%) $238,007 (13.2%) 0.00 57
2021-05-01 $164,500 (0.3%) $233,428 (4.9%) 0.00 49
2021-06-01 $175,925 (12.6%) $218,972 (-0.7%) 0.00 52
2021-07-01 $174,950 (17.0%) $222,169 (1.8%) 0.00 70
2021-08-01 $184,925 (15.9%) $220,709 (-3.3%) 0.00 74
2021-09-01 $189,800 (12.7%) $221,076 (-9.3%) 0.00 73
2021-10-01 $184,900 (-3.2%) $214,509 (-11.1%) 0.00 65
2021-11-01 $199,600 (13.2%) $228,088 (-1.2%) 0.00 91
2021-12-01 $201,438 (6.4%) $227,224 (-6.6%) 0.00 85
2022-01-01 $206,925 (28.5%) $229,568 (-8.6%) 0.00 76
2022-02-01 $185,125 (-3.6%) $240,106 (-6.4%) 0.00 61
2022-03-01 $190,875 (18.6%) $240,976 (1.8%) 0.00 59
2022-04-01 $175,000 (-4.6%) $240,370 (1.0%) 0.00 72
2022-05-01 $208,500 (26.8%) $266,031 (14.0%) 0.00 93
2022-06-01 $239,025 (35.9%) $297,078 (35.7%) 0.00 103
2022-07-01 $239,450 (36.9%) $294,144 (32.4%) 0.00 109
2022-08-01 $252,250 (36.4%) $315,897 (43.1%) 0.00 103
2022-09-01 $236,025 (24.4%) $314,001 (42.0%) 0.00 109
2022-10-01 $207,000 (12.0%) $304,003 (41.7%) 0.00 109
2022-11-01 $202,350 (1.4%) $275,421 (20.8%) 0.00 113
2022-12-01 $184,900 (-8.2%) $273,220 (20.2%) 0.00 117
2023-01-01 $179,975 (-13.0%) $260,127 (13.3%) 0.00 112
2023-02-01 $179,700 (-2.9%) $248,246 (3.4%) 0.00 98
2023-03-01 $169,900 (-11.0%) $244,316 (1.4%) 0.00 88
2023-04-01 $182,000 (4.0%) $262,925 (9.4%) 0.00 97
2023-05-01 $194,750 (-6.6%) $261,788 (-1.6%) 0.00 103
2023-06-01 $197,000 (-17.6%) $263,637 (-11.3%) 0.00 99
2023-07-01 $220,000 (-8.1%) $271,231 (-7.8%) 0.00 112
2023-08-01 $214,250 (-15.1%) $267,143 (-15.4%) 0.00 129
2023-09-01 $220,000 (-6.8%) $275,220 (-12.4%) 0.00 131
2023-10-01 $220,000 (6.3%) $266,962 (-12.2%) 0.00 150
2023-11-01 $226,000 (11.7%) $267,286 (-3.0%) 0.00 152
2023-12-01 $225,000 (21.7%) $267,744 (-2.0%) 0.00 148
2024-01-01 $226,000 (25.6%) $269,910 (3.8%) 0.00 145
2024-02-01 $229,000 (27.4%) $284,248 (14.5%) 0.00 151
2024-03-01 $239,000 (40.7%) $292,979 (19.9%) 0.00 146
2024-04-01 $228,250 (25.4%) $282,179 (7.3%) 0.00 154
2024-05-01 $222,500 (14.3%) $293,715 (12.2%) 0.00 138
2024-06-01 $242,450 (23.1%) $296,059 (12.3%) 0.00 140
2024-07-01 $241,725 (9.9%) $291,665 (7.5%) 0.00 138
2024-08-01 $235,000 (9.7%) $287,636 (7.7%) 0.00 133
2024-09-01 $247,000 (12.3%) $287,247 (4.4%) 0.00 139
2024-10-01 $245,950 (11.8%) $285,130 (6.8%) 0.00 150
Laurel's median listing price for 2024-10-01 was $245,950, a difference of $25,950 (11.8%) versus the prior year and $-1,050 versus the prior month.

Laurel's median listing price comes in at 0% of the national average.

Laurel's average listing price for 2024-10-01 was $285,130, a difference of $18,168 (6.8%) versus the prior year and $-2,117 versus the prior month.

For the 2024-10-01 period, Laurel had 150 MLS listings, a difference of 11 listings (8%) versus the prior month and 0 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Laurel (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,805 sqft
2018-02-01 0 days 1,856 sqft
2018-03-01 0 days 1,869 sqft
2018-04-01 0 days 1,905 sqft
2018-05-01 0 days 1,916 sqft
2018-06-01 0 days 1,960 sqft
2018-07-01 0 days 1,932 sqft
2018-08-01 0 days 1,947 sqft
2018-09-01 0 days 1,967 sqft
2018-10-01 0 days 1,998 sqft
2018-11-01 0 days 1,979 sqft
2018-12-01 0 days 1,975 sqft
2019-01-01 0 days 1,976 sqft
2019-02-01 0 days 1,937 sqft
2019-03-01 0 days 1,967 sqft
2019-04-01 0 days 1,983 sqft
2019-05-01 0 days 1,944 sqft
2019-06-01 0 days 1,980 sqft
2019-07-01 0 days 2,006 sqft
2019-08-01 0 days 2,014 sqft
2019-09-01 0 days 2,006 sqft
2019-10-01 0 days 2,009 sqft
2019-11-01 0 days 2,018 sqft
2019-12-01 0 days 2,026 sqft
2020-01-01 0 days 1,932 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 2,145 sqft
2020-04-01 0 days 2,038 sqft
2020-05-01 0 days 1,999 sqft
2020-06-01 0 days 1,972 sqft
2020-07-01 0 days 1,927 sqft
2020-08-01 0 days 1,957 sqft
2020-09-01 0 days 2,012 sqft
2020-10-01 0 days 2,064 sqft
2020-11-01 0 days 2,079 sqft
2020-12-01 0 days 2,112 sqft
2021-01-01 0 days 2,025 sqft
2021-02-01 0 days 2,012 sqft
2021-03-01 0 days 1,879 sqft
2021-04-01 0 days 1,875 sqft
2021-05-01 0 days 1,770 sqft
2021-06-01 0 days 1,904 sqft
2021-07-01 0 days 1,944 sqft
2021-08-01 0 days 1,948 sqft
2021-09-01 0 days 2,068 sqft
2021-10-01 0 days 1,964 sqft
2021-11-01 0 days 1,973 sqft
2021-12-01 0 days 1,942 sqft
2022-01-01 0 days 1,921 sqft
2022-02-01 0 days 1,882 sqft
2022-03-01 0 days 1,860 sqft
2022-04-01 0 days 1,811 sqft
2022-05-01 0 days 1,831 sqft
2022-06-01 0 days 1,900 sqft
2022-07-01 0 days 1,907 sqft
2022-08-01 0 days 2,044 sqft
2022-09-01 0 days 2,030 sqft
2022-10-01 0 days 2,028 sqft
2022-11-01 0 days 1,950 sqft
2022-12-01 0 days 1,925 sqft
2023-01-01 0 days 1,891 sqft
2023-02-01 0 days 1,927 sqft
2023-03-01 0 days 1,921 sqft
2023-04-01 0 days 1,947 sqft
2023-05-01 0 days 1,862 sqft
2023-06-01 0 days 1,806 sqft
2023-07-01 0 days 1,906 sqft
2023-08-01 0 days 1,900 sqft
2023-09-01 0 days 1,913 sqft
2023-10-01 0 days 1,879 sqft
2023-11-01 0 days 1,885 sqft
2023-12-01 0 days 1,872 sqft
2024-01-01 0 days 1,872 sqft
2024-02-01 0 days 1,881 sqft
2024-03-01 0 days 1,982 sqft
2024-04-01 0 days 1,945 sqft
2024-05-01 0 days 1,918 sqft
2024-06-01 0 days 2,000 sqft
2024-07-01 0 days 1,990 sqft
2024-08-01 0 days 2,000 sqft
2024-09-01 0 days 2,023 sqft
2024-10-01 0 days 1,979 sqft
Laurel's median listing age (time on market) for 2024-10-01 was 0 days.

Laurel's median square footage for active listings during the 2024-10-01 period was 1,979 sqft. One year prior, the average listing was 1,879 sqft.