Laurel USDA Loan Rates, Closing Costs & Stats

Laurel, MS

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    • 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 0.26% for the week of 2024-11-15, 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 (2024-11-08) was 6.61% and one month ago for the week of 2024-10-11, the average rate was 6.07%.

    The average rate one year ago was 7.3%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

    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.