Morgan City USDA Loan Rates, Closing Costs & Stats
Morgan City, LA
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
0.14%
for the week of 2024-11-29, 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 (2024-11-22) was
6.64% and
one month ago for the week of 2024-10-25, the
average rate was 6.44%.
The average rate one year ago was 6.94%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
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. LouisDate | 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 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. LouisDate | 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 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.