Morehead City USDA Loan Rates, Closing Costs & Stats
Morehead City, NC
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.
Morehead City's 2 lenders originated 3 USDA loans during 2023. The total origination value was $775,000, with an average USDA loan value of $258,333.
Morehead City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Morehead City
averaged
6.85%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Morehead City's average USDA mortgage closing costs are $4,757.
The average rate for the prior week (2024-04-12) was
6.8% and
one month ago for the week of 2024-03-15, the
average rate was 6.39%.
The average rate one year ago was 6.43%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.06%.
Morehead City 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 Morehead City level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| American Security Mortgage Corp. | 2 | 6.63% | $5,747 |
| MOVEMENT MORTGAGE, LLC | 1 | 6.00% | $7,668 |
The top Morehead City USDA lender as defined by loan originations is American Security Mortgage Corp., with
2 USDA loans originated. Their average total fees are
$5,747, which is $1,920
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Morehead City USDA lenders (with over 10 loans originated) are
.
The lowest rate Morehead City USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Morehead City (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 | $309,450 (3.5%) | $393,920 (7.8%) | 0.00 | 969 |
| 2018-02-01 | $314,950 (5.3%) | $398,075 (7.7%) | 0.00 | 958 |
| 2018-03-01 | $322,950 (8.0%) | $404,889 (8.3%) | 0.00 | 997 |
| 2018-04-01 | $322,250 (4.6%) | $404,273 (4.8%) | 0.00 | 1,011 |
| 2018-05-01 | $325,000 (6.7%) | $413,015 (5.8%) | 0.00 | 1,022 |
| 2018-06-01 | $326,500 (7.1%) | $416,844 (7.9%) | 0.00 | 999 |
| 2018-07-01 | $330,000 (4.8%) | $425,276 (8.6%) | 0.00 | 983 |
| 2018-08-01 | $337,000 (6.9%) | $433,165 (10.7%) | 0.00 | 939 |
| 2018-09-01 | $343,000 (8.9%) | $446,926 (15.2%) | 0.00 | 899 |
| 2018-10-01 | $337,000 (7.0%) | $445,004 (14.4%) | 0.00 | 723 |
| 2018-11-01 | $338,925 (9.7%) | $443,515 (15.0%) | 0.00 | 670 |
| 2018-12-01 | $339,900 (9.7%) | $443,764 (14.0%) | 0.00 | 653 |
| 2019-01-01 | $339,463 (9.7%) | $449,963 (14.2%) | 0.00 | 585 |
| 2019-02-01 | $340,619 (8.2%) | $440,224 (10.6%) | 0.00 | 610 |
| 2019-03-01 | $351,143 (8.7%) | $457,572 (13.0%) | 0.00 | 636 |
| 2019-04-01 | $354,125 (9.9%) | $474,251 (17.3%) | 0.00 | 673 |
| 2019-05-01 | $362,500 (11.5%) | $488,547 (18.3%) | 0.00 | 705 |
| 2019-06-01 | $359,900 (10.2%) | $484,360 (16.2%) | 0.00 | 729 |
| 2019-07-01 | $369,125 (11.9%) | $486,944 (14.5%) | 0.00 | 737 |
| 2019-08-01 | $376,336 (11.7%) | $494,837 (14.2%) | 0.00 | 751 |
| 2019-09-01 | $378,341 (10.3%) | $497,583 (11.3%) | 0.00 | 778 |
| 2019-10-01 | $379,677 (12.7%) | $499,413 (12.2%) | 0.00 | 799 |
| 2019-11-01 | $375,000 (10.6%) | $492,275 (11.0%) | 0.00 | 820 |
| 2019-12-01 | $375,000 (10.3%) | $488,356 (10.1%) | 0.00 | 774 |
| 2020-01-01 | $375,000 (10.5%) | $484,524 (7.7%) | 0.00 | 771 |
| 2020-02-01 | $375,000 (10.1%) | $488,145 (10.9%) | 0.00 | 771 |
| 2020-03-01 | $375,000 (6.8%) | $490,303 (7.2%) | 0.00 | 805 |
| 2020-04-01 | $375,375 (6.0%) | $497,395 (4.9%) | 0.00 | 809 |
| 2020-05-01 | $375,500 (3.6%) | $499,510 (2.2%) | 0.00 | 758 |
| 2020-06-01 | $385,000 (7.0%) | $519,460 (7.3%) | 0.00 | 659 |
| 2020-07-01 | $385,000 (4.3%) | $520,107 (6.8%) | 0.00 | 584 |
| 2020-08-01 | $385,000 (2.3%) | $527,131 (6.5%) | 0.00 | 532 |
| 2020-09-01 | $385,000 (1.8%) | $552,438 (11.0%) | 0.00 | 454 |
| 2020-10-01 | $385,000 (1.4%) | $555,865 (11.3%) | 0.00 | 430 |
| 2020-11-01 | $385,000 (2.7%) | $558,711 (13.5%) | 0.00 | 400 |
| 2020-12-01 | $399,725 (6.6%) | $575,358 (17.8%) | 0.00 | 332 |
| 2021-01-01 | $399,250 (6.5%) | $552,071 (13.9%) | 0.00 | 287 |
| 2021-02-01 | $422,500 (12.7%) | $587,290 (20.3%) | 0.00 | 241 |
| 2021-03-01 | $449,975 (20.0%) | $594,730 (21.3%) | 0.00 | 219 |
| 2021-04-01 | $469,950 (25.2%) | $619,749 (24.6%) | 0.00 | 215 |
| 2021-05-01 | $465,000 (23.8%) | $622,774 (24.7%) | 0.00 | 202 |
| 2021-06-01 | $467,825 (21.5%) | $613,422 (18.1%) | 0.00 | 224 |
| 2021-07-01 | $450,000 (16.9%) | $596,253 (14.6%) | 0.00 | 242 |
| 2021-08-01 | $450,000 (16.9%) | $624,288 (18.4%) | 0.00 | 245 |
| 2021-09-01 | $450,000 (16.9%) | $623,067 (12.8%) | 0.00 | 276 |
| 2021-10-01 | $449,000 (16.6%) | $599,921 (7.9%) | 0.00 | 265 |
| 2021-11-01 | $449,500 (16.8%) | $612,188 (9.6%) | 0.00 | 232 |
| 2021-12-01 | $461,950 (15.6%) | $615,791 (7.0%) | 0.00 | 208 |
| 2022-01-01 | $475,000 (19.0%) | $607,750 (10.1%) | 0.00 | 165 |
| 2022-02-01 | $479,150 (13.4%) | $609,761 (3.8%) | 0.00 | 160 |
| 2022-03-01 | $484,475 (7.7%) | $633,846 (6.6%) | 0.00 | 145 |
| 2022-04-01 | $486,950 (3.6%) | $635,745 (2.6%) | 0.00 | 164 |
| 2022-05-01 | $510,950 (9.9%) | $682,419 (9.6%) | 0.00 | 179 |
| 2022-06-01 | $525,000 (12.2%) | $696,527 (13.6%) | 0.00 | 218 |
| 2022-07-01 | $539,900 (20.0%) | $706,652 (18.5%) | 0.00 | 262 |
| 2022-08-01 | $559,450 (24.3%) | $722,663 (15.8%) | 0.00 | 271 |
| 2022-09-01 | $552,975 (22.9%) | $721,107 (15.7%) | 0.00 | 300 |
| 2022-10-01 | $550,000 (22.5%) | $697,339 (16.2%) | 0.00 | 335 |
| 2022-11-01 | $547,425 (21.8%) | $660,806 (7.9%) | 0.00 | 351 |
| 2022-12-01 | $552,350 (19.6%) | $670,615 (8.9%) | 0.00 | 320 |
| 2023-01-01 | $551,175 (16.0%) | $687,578 (13.1%) | 0.00 | 285 |
| 2023-02-01 | $549,925 (14.8%) | $680,483 (11.6%) | 0.00 | 290 |
| 2023-03-01 | $549,850 (13.5%) | $702,072 (10.8%) | 0.00 | 290 |
| 2023-04-01 | $569,000 (16.9%) | $714,988 (12.5%) | 0.00 | 280 |
| 2023-05-01 | $550,000 (7.6%) | $696,546 (2.1%) | 0.00 | 275 |
| 2023-06-01 | $576,250 (9.8%) | $718,237 (3.1%) | 0.00 | 285 |
| 2023-07-01 | $587,575 (8.8%) | $733,432 (3.8%) | 0.00 | 278 |
| 2023-08-01 | $593,250 (6.0%) | $754,410 (4.4%) | 0.00 | 282 |
| 2023-09-01 | $595,000 (7.6%) | $778,551 (8.0%) | 0.00 | 305 |
| 2023-10-01 | $609,925 (10.9%) | $808,786 (16.0%) | 0.00 | 312 |
| 2023-11-01 | $602,475 (10.1%) | $791,650 (19.8%) | 0.00 | 328 |
| 2023-12-01 | $599,900 (8.6%) | $772,642 (15.2%) | 0.00 | 329 |
| 2024-01-01 | $598,650 (8.6%) | $736,826 (7.2%) | 0.00 | 338 |
| 2024-02-01 | $598,950 (8.9%) | $753,647 (10.8%) | 0.00 | 364 |
| 2024-03-01 | $599,900 (9.1%) | $770,159 (9.7%) | 0.00 | 402 |
Morehead City's median listing price comes in at 0% of the national average.
Morehead City's average listing price for 2024-03-01 was $770,159, a difference of $68,087 (9.7%) versus the prior year and $16,512 versus the prior month.
For the 2024-03-01 period, Morehead City had 402 MLS listings, a difference of 38 listings (10%) versus the prior month and 112 listings (39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Morehead City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,716 sqft |
| 2018-02-01 | 0 days | 1,750 sqft |
| 2018-03-01 | 0 days | 1,784 sqft |
| 2018-04-01 | 0 days | 1,787 sqft |
| 2018-05-01 | 0 days | 1,831 sqft |
| 2018-06-01 | 0 days | 1,841 sqft |
| 2018-07-01 | 0 days | 1,864 sqft |
| 2018-08-01 | 0 days | 1,867 sqft |
| 2018-09-01 | 0 days | 1,862 sqft |
| 2018-10-01 | 0 days | 1,845 sqft |
| 2018-11-01 | 0 days | 1,806 sqft |
| 2018-12-01 | 0 days | 1,789 sqft |
| 2019-01-01 | 0 days | 1,783 sqft |
| 2019-02-01 | 0 days | 1,796 sqft |
| 2019-03-01 | 0 days | 1,814 sqft |
| 2019-04-01 | 0 days | 1,819 sqft |
| 2019-05-01 | 0 days | 1,922 sqft |
| 2019-06-01 | 0 days | 1,944 sqft |
| 2019-07-01 | 0 days | 1,952 sqft |
| 2019-08-01 | 0 days | 1,969 sqft |
| 2019-09-01 | 0 days | 1,953 sqft |
| 2019-10-01 | 0 days | 1,922 sqft |
| 2019-11-01 | 0 days | 1,863 sqft |
| 2019-12-01 | 0 days | 1,825 sqft |
| 2020-01-01 | 0 days | 1,798 sqft |
| 2020-02-01 | 0 days | 1,795 sqft |
| 2020-03-01 | 0 days | 1,789 sqft |
| 2020-04-01 | 0 days | 1,795 sqft |
| 2020-05-01 | 0 days | 1,800 sqft |
| 2020-06-01 | 0 days | 1,923 sqft |
| 2020-07-01 | 0 days | 1,944 sqft |
| 2020-08-01 | 0 days | 1,920 sqft |
| 2020-09-01 | 0 days | 1,890 sqft |
| 2020-10-01 | 0 days | 1,874 sqft |
| 2020-11-01 | 0 days | 1,847 sqft |
| 2020-12-01 | 0 days | 1,854 sqft |
| 2021-01-01 | 0 days | 1,860 sqft |
| 2021-02-01 | 0 days | 1,942 sqft |
| 2021-03-01 | 0 days | 1,959 sqft |
| 2021-04-01 | 0 days | 1,974 sqft |
| 2021-05-01 | 0 days | 1,951 sqft |
| 2021-06-01 | 0 days | 1,901 sqft |
| 2021-07-01 | 0 days | 1,850 sqft |
| 2021-08-01 | 0 days | 1,850 sqft |
| 2021-09-01 | 0 days | 1,821 sqft |
| 2021-10-01 | 0 days | 1,820 sqft |
| 2021-11-01 | 0 days | 1,792 sqft |
| 2021-12-01 | 0 days | 1,784 sqft |
| 2022-01-01 | 0 days | 1,790 sqft |
| 2022-02-01 | 0 days | 1,808 sqft |
| 2022-03-01 | 0 days | 1,802 sqft |
| 2022-04-01 | 0 days | 1,802 sqft |
| 2022-05-01 | 0 days | 1,979 sqft |
| 2022-06-01 | 0 days | 1,926 sqft |
| 2022-07-01 | 0 days | 1,887 sqft |
| 2022-08-01 | 0 days | 2,000 sqft |
| 2022-09-01 | 0 days | 1,976 sqft |
| 2022-10-01 | 0 days | 1,960 sqft |
| 2022-11-01 | 0 days | 1,914 sqft |
| 2022-12-01 | 0 days | 1,881 sqft |
| 2023-01-01 | 0 days | 1,875 sqft |
| 2023-02-01 | 0 days | 1,918 sqft |
| 2023-03-01 | 0 days | 1,910 sqft |
| 2023-04-01 | 0 days | 1,937 sqft |
| 2023-05-01 | 0 days | 1,999 sqft |
| 2023-06-01 | 0 days | 1,972 sqft |
| 2023-07-01 | 0 days | 1,970 sqft |
| 2023-08-01 | 0 days | 1,906 sqft |
| 2023-09-01 | 0 days | 1,926 sqft |
| 2023-10-01 | 0 days | 1,910 sqft |
| 2023-11-01 | 0 days | 1,871 sqft |
| 2023-12-01 | 0 days | 1,800 sqft |
| 2024-01-01 | 0 days | 1,800 sqft |
| 2024-02-01 | 0 days | 1,765 sqft |
| 2024-03-01 | 0 days | 1,797 sqft |
Morehead City's median square footage for active listings during the 2024-03-01 period was 1,797 sqft. One year prior, the average listing was 1,910 sqft.