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 6.49% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Morehead City's average USDA mortgage closing costs are $4,757.

The average rate for the prior week (2024-04-05) was 6.42% and one month ago for the week of 2024-03-08, the average rate was 6.48%.

The average rate one year ago was 6.38%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.51%.

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

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 for 2024-03-01 was $599,900, a difference of $50,050 (9.1%) versus the prior year and $950 versus the prior month.

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 listing age (time on market) for 2024-03-01 was 0 days.

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.