Morgan City USDA Loan Rates, Closing Costs & Stats

Morgan City, LA

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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.

    Morgan City's 10 lenders originated 22 USDA loans during 2023. The total origination value was $2,850,000, with an average USDA loan value of $129,545.

    Morgan City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Morgan City averaged -0.16% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Morgan City's average USDA mortgage closing costs are $4,610.

    The average rate for the prior week (2024-11-08) was 6.19% and one month ago for the week of 2024-10-11, the average rate was 6.05%.

    The average rate one year ago was 7.48%.

    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.

    Morgan 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 Morgan City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 6.35% $7,472
    Flagstar Bank, FSB 4 6.72% $6,765
    First Horizon Bank 3 6.08% $4,853
    GMFS LLC 3 6.91% $3,492
    NEWREZ LLC 2 6.75% $4,451
    MID AMERICA MORTGAGE, INC. 1 7.63% $4,547
    FIRST COMMUNITY MORTGAGE, INC. 1 7.63% $3,682
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.63% $3,447
    PLAZA HOME MORTGAGE, INC. 1 7.25% $8,797
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $5,388

    The top Morgan City USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 USDA loans originated. Their average total fees are $7,472, which is $707 higher than the next largest lender, Flagstar Bank, FSB.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Morgan 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 $135,850 (5.5%) $209,469 (1.1%) 0.00 152
    2018-02-01 $135,725 (4.7%) $210,850 (-0.7%) 0.00 148
    2018-03-01 $142,000 (-0.3%) $210,979 (-4.5%) 0.00 150
    2018-04-01 $143,000 (-4.4%) $210,249 (-6.7%) 0.00 164
    2018-05-01 $140,450 (-7.6%) $210,658 (-10.9%) 0.00 159
    2018-06-01 $139,700 (-6.9%) $203,397 (-7.6%) 0.00 169
    2018-07-01 $148,225 (-0.1%) $206,270 (2.3%) 0.00 164
    2018-08-01 $149,450 (5.5%) $205,367 (4.4%) 0.00 171
    2018-09-01 $150,000 (1.7%) $204,549 (4.9%) 0.00 164
    2018-10-01 $153,750 (12.6%) $209,148 (7.0%) 0.00 159
    2018-11-01 $151,250 (7.3%) $204,377 (3.0%) 0.00 158
    2018-12-01 $150,000 (11.1%) $203,537 (3.4%) 0.00 150
    2019-01-01 $150,000 (10.4%) $199,035 (-5.0%) 0.00 152
    2019-02-01 $157,175 (15.8%) $198,487 (-5.9%) 0.00 165
    2019-03-01 $154,550 (8.8%) $199,692 (-5.4%) 0.00 165
    2019-04-01 $150,000 (4.9%) $207,994 (-1.1%) 0.00 163
    2019-05-01 $149,900 (6.7%) $207,946 (-1.3%) 0.00 160
    2019-06-01 $142,450 (2.0%) $207,804 (2.2%) 0.00 165
    2019-07-01 $145,250 (-2.0%) $211,326 (2.5%) 0.00 171
    2019-08-01 $144,455 (-3.3%) $209,940 (2.2%) 0.00 165
    2019-09-01 $143,636 (-4.2%) $206,222 (0.8%) 0.00 162
    2019-10-01 $143,000 (-7.0%) $204,458 (-2.2%) 0.00 158
    2019-11-01 $143,000 (-5.5%) $207,874 (1.7%) 0.00 152
    2019-12-01 $140,650 (-6.2%) $208,555 (2.5%) 0.00 144
    2020-01-01 $135,000 (-10.0%) $200,401 (0.7%) 0.00 150
    2020-02-01 $135,000 (-14.1%) $199,553 (0.5%) 0.00 162
    2020-03-01 $134,675 (-12.9%) $205,653 (3.0%) 0.00 166
    2020-04-01 $135,000 (-10.0%) $209,598 (0.8%) 0.00 160
    2020-05-01 $139,250 (-7.1%) $213,700 (2.8%) 0.00 154
    2020-06-01 $139,950 (-1.8%) $212,049 (2.0%) 0.00 156
    2020-07-01 $144,750 (-0.3%) $210,898 (-0.2%) 0.00 152
    2020-08-01 $155,000 (7.3%) $221,035 (5.3%) 0.00 146
    2020-09-01 $163,525 (13.9%) $223,655 (8.5%) 0.00 138
    2020-10-01 $155,000 (8.4%) $204,172 (-0.1%) 0.00 134
    2020-11-01 $149,675 (4.7%) $203,723 (-2.0%) 0.00 136
    2020-12-01 $146,975 (4.5%) $227,215 (9.0%) 0.00 129
    2021-01-01 $145,000 (7.4%) $229,119 (14.3%) 0.00 115
    2021-02-01 $154,925 (14.8%) $236,588 (18.6%) 0.00 120
    2021-03-01 $153,725 (14.2%) $253,189 (23.1%) 0.00 115
    2021-04-01 $155,000 (14.8%) $262,181 (25.1%) 0.00 104
    2021-05-01 $149,900 (7.7%) $249,687 (16.8%) 0.00 97
    2021-06-01 $157,475 (12.5%) $256,272 (20.9%) 0.00 100
    2021-07-01 $169,450 (17.1%) $250,940 (19.0%) 0.00 103
    2021-08-01 $176,500 (13.9%) $274,215 (24.1%) 0.00 98
    2021-09-01 $176,000 (7.6%) $257,351 (15.1%) 0.00 105
    2021-10-01 $195,000 (25.8%) $287,635 (40.9%) 0.00 92
    2021-11-01 $199,200 (33.1%) $288,551 (41.6%) 0.00 87
    2021-12-01 $199,950 (36.0%) $268,456 (18.2%) 0.00 86
    2022-01-01 $195,000 (34.5%) $263,790 (15.1%) 0.00 88
    2022-02-01 $194,875 (25.8%) $284,063 (20.1%) 0.00 88
    2022-03-01 $188,500 (22.6%) $278,695 (10.1%) 0.00 83
    2022-04-01 $189,000 (21.9%) $266,312 (1.6%) 0.00 92
    2022-05-01 $188,750 (25.9%) $272,309 (9.1%) 0.00 100
    2022-06-01 $182,500 (15.9%) $284,020 (10.8%) 0.00 89
    2022-07-01 $169,900 (0.3%) $280,883 (11.9%) 0.00 87
    2022-08-01 $166,500 (-5.7%) $271,619 (-1.0%) 0.00 93
    2022-09-01 $159,625 (-9.3%) $265,319 (3.1%) 0.00 101
    2022-10-01 $163,500 (-16.2%) $249,548 (-13.2%) 0.00 103
    2022-11-01 $160,000 (-19.7%) $244,611 (-15.2%) 0.00 102
    2022-12-01 $160,000 (-20.0%) $241,658 (-10.0%) 0.00 99
    2023-01-01 $160,000 (-18.0%) $244,219 (-7.4%) 0.00 90
    2023-02-01 $170,000 (-12.8%) $257,398 (-9.4%) 0.00 91
    2023-03-01 $168,500 (-10.6%) $248,246 (-10.9%) 0.00 93
    2023-04-01 $172,000 (-9.0%) $250,269 (-6.0%) 0.00 93
    2023-05-01 $169,974 (-10.0%) $250,655 (-8.0%) 0.00 101
    2023-06-01 $172,125 (-5.7%) $250,056 (-12.0%) 0.00 100
    2023-07-01 $185,000 (8.9%) $266,892 (-5.0%) 0.00 99
    2023-08-01 $188,000 (12.9%) $262,823 (-3.2%) 0.00 103
    2023-09-01 $206,500 (29.4%) $274,283 (3.4%) 0.00 100
    2023-10-01 $206,250 (26.2%) $271,694 (8.9%) 0.00 95
    2023-11-01 $187,750 (17.3%) $254,576 (4.1%) 0.00 103
    2023-12-01 $187,500 (17.2%) $246,748 (2.1%) 0.00 98
    2024-01-01 $186,000 (16.3%) $259,983 (6.5%) 0.00 90
    2024-02-01 $191,725 (12.8%) $270,526 (5.1%) 0.00 87
    2024-03-01 $194,000 (15.1%) $271,204 (9.3%) 0.00 90
    2024-04-01 $187,225 (8.9%) $255,790 (2.2%) 0.00 92
    2024-05-01 $189,675 (11.6%) $256,580 (2.4%) 0.00 91
    2024-06-01 $196,500 (14.2%) $264,151 (5.6%) 0.00 92
    2024-07-01 $193,050 (4.4%) $240,850 (-9.8%) 0.00 105
    2024-08-01 $210,000 (11.7%) $242,842 (-7.6%) 0.00 110
    2024-09-01 $199,575 (-3.4%) $239,694 (-12.6%) 0.00 116
    2024-10-01 $199,000 (-3.5%) $238,858 (-12.1%) 0.00 114
    Morgan City's median listing price for 2024-10-01 was $199,000, a difference of $-7,250 (-3.5%) versus the prior year and $-575 versus the prior month.

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

    Morgan City's average listing price for 2024-10-01 was $238,858, a difference of $-32,836 (-12.1%) versus the prior year and $-836 versus the prior month.

    For the 2024-10-01 period, Morgan City had 114 MLS listings, a difference of -2 listings (-2%) versus the prior month and 19 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Morgan 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 1,944 sqft
    2018-02-01 0 days 1,919 sqft
    2018-03-01 0 days 1,780 sqft
    2018-04-01 0 days 1,780 sqft
    2018-05-01 0 days 1,783 sqft
    2018-06-01 0 days 1,810 sqft
    2018-07-01 0 days 1,874 sqft
    2018-08-01 0 days 1,862 sqft
    2018-09-01 0 days 1,925 sqft
    2018-10-01 0 days 1,973 sqft
    2018-11-01 0 days 1,982 sqft
    2018-12-01 0 days 2,025 sqft
    2019-01-01 0 days 2,123 sqft
    2019-02-01 0 days 2,011 sqft
    2019-03-01 0 days 1,967 sqft
    2019-04-01 0 days 1,955 sqft
    2019-05-01 0 days 1,947 sqft
    2019-06-01 0 days 1,940 sqft
    2019-07-01 0 days 1,943 sqft
    2019-08-01 0 days 1,952 sqft
    2019-09-01 0 days 1,962 sqft
    2019-10-01 0 days 1,972 sqft
    2019-11-01 0 days 1,960 sqft
    2019-12-01 0 days 1,978 sqft
    2020-01-01 0 days 1,969 sqft
    2020-02-01 0 days 1,991 sqft
    2020-03-01 0 days 1,980 sqft
    2020-04-01 0 days 2,004 sqft
    2020-05-01 0 days 2,107 sqft
    2020-06-01 0 days 2,098 sqft
    2020-07-01 0 days 2,073 sqft
    2020-08-01 0 days 2,088 sqft
    2020-09-01 0 days 2,049 sqft
    2020-10-01 0 days 2,024 sqft
    2020-11-01 0 days 2,041 sqft
    2020-12-01 0 days 2,027 sqft
    2021-01-01 0 days 2,024 sqft
    2021-02-01 0 days 2,041 sqft
    2021-03-01 0 days 1,996 sqft
    2021-04-01 0 days 2,021 sqft
    2021-05-01 0 days 1,889 sqft
    2021-06-01 0 days 1,841 sqft
    2021-07-01 0 days 1,914 sqft
    2021-08-01 0 days 1,926 sqft
    2021-09-01 0 days 1,962 sqft
    2021-10-01 0 days 2,023 sqft
    2021-11-01 0 days 2,030 sqft
    2021-12-01 0 days 1,984 sqft
    2022-01-01 0 days 1,857 sqft
    2022-02-01 0 days 1,992 sqft
    2022-03-01 0 days 2,041 sqft
    2022-04-01 0 days 1,949 sqft
    2022-05-01 0 days 2,050 sqft
    2022-06-01 0 days 2,133 sqft
    2022-07-01 0 days 1,993 sqft
    2022-08-01 0 days 1,794 sqft
    2022-09-01 0 days 1,898 sqft
    2022-10-01 0 days 1,968 sqft
    2022-11-01 0 days 1,984 sqft
    2022-12-01 0 days 1,982 sqft
    2023-01-01 0 days 1,682 sqft
    2023-02-01 0 days 1,676 sqft
    2023-03-01 0 days 1,676 sqft
    2023-04-01 0 days 1,700 sqft
    2023-05-01 0 days 1,678 sqft
    2023-06-01 0 days 1,697 sqft
    2023-07-01 0 days 1,842 sqft
    2023-08-01 0 days 1,986 sqft
    2023-09-01 0 days 2,077 sqft
    2023-10-01 0 days 2,096 sqft
    2023-11-01 0 days 2,001 sqft
    2023-12-01 0 days 1,997 sqft
    2024-01-01 0 days 2,040 sqft
    2024-02-01 0 days 1,951 sqft
    2024-03-01 0 days 1,904 sqft
    2024-04-01 0 days 1,870 sqft
    2024-05-01 0 days 1,940 sqft
    2024-06-01 0 days 1,861 sqft
    2024-07-01 0 days 1,821 sqft
    2024-08-01 0 days 2,047 sqft
    2024-09-01 0 days 1,986 sqft
    2024-10-01 0 days 1,874 sqft
    Morgan City's median listing age (time on market) for 2024-10-01 was 0 days.

    Morgan City's median square footage for active listings during the 2024-10-01 period was 1,874 sqft. One year prior, the average listing was 2,096 sqft.