Olympia USDA Loan Rates, Closing Costs & Stats

OLYMPIA-LACEY-TUMWATER, WA

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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.

    Olympia's 19 lenders originated 31 USDA loans during 2021. The total origination value was $11,175,000, with an average USDA loan value of $360,484.

    Olympia USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Olympia averaged 6.08% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

    Olympia's average USDA mortgage closing costs are $6,906.

    The average rate for the prior week (2023-01-20) was 6.07% and one month ago for the week of 2022-12-23, the average rate was 6.4%.

    The average rate one year ago was 3.65%.

    For refis of the same type during the week of 2023-01-27, the average rate was 5.79%.

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

    Olympia 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 Olympia level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.22% $8,963
    First Home Bank 2 2.81% $7,823
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.50% $11,031
    CALIBER HOME LOANS, INC. 1 2.50% $10,165
    CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $7,869
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.50% $10,061
    Flagstar Bank, FSB 1 2.38% $6,981
    GUARANTEED RATE, INC. 1 3.13% $8,673
    HomeStreet Bank 1 3.13% $7,031
    LENDUS, LLC 1 2.75% $7,737
    MOVEMENT MORTGAGE, LLC 1 2.75% $3,837
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,468
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.75% $8,991
    RESIDENTIAL MORTGAGE, LLC 1 2.38% $8,409
    UNITED WHOLESALE MORTGAGE, LLC 1 2.25% $6,612
    AMCAP MORTGAGE, LTD. 1 3.88% $7,892
    Wells Fargo Bank 1 4.38% $4,412
    AXIA FINANCIAL, LLC 1 2.75% $5,527
    BAY EQUITY LLC 1 2.99% $9,513

    The top Olympia USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 5 USDA loans originated. Their average total fees are $8,963, which is $1,140 higher than the next largest lender, First Home Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Olympia (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 $350,623 (16.9%) $392,804 (11.9%) 1.30 376
    2018-02-01 $359,974 (10.8%) $408,362 (11.7%) 1.31 370
    2018-03-01 $355,000 (5.5%) $421,434 (13.4%) 1.25 366
    2018-04-01 $371,250 (9.9%) $426,566 (11.2%) 1.26 409
    2018-05-01 $386,500 (13.9%) $434,459 (9.5%) 1.29 482
    2018-06-01 $379,950 (12.6%) $437,918 (10.3%) 1.27 572
    2018-07-01 $372,493 (14.6%) $426,657 (9.3%) 1.24 623
    2018-08-01 $374,990 (18.5%) $440,458 (15.4%) 1.26 694
    2018-09-01 $375,000 (16.5%) $445,474 (14.8%) 1.26 715
    2018-10-01 $379,925 (13.9%) $447,496 (13.3%) 1.28 687
    2018-11-01 $387,475 (14.1%) $452,453 (14.9%) 1.31 609
    2018-12-01 $389,000 (11.3%) $447,883 (15.2%) 1.34 571
    2019-01-01 $387,448 (10.5%) $461,031 (17.4%) 1.34 494
    2019-02-01 $390,858 (8.6%) $469,921 (15.1%) 1.32 446
    2019-03-01 $402,849 (13.5%) $489,587 (16.2%) 1.32 445
    2019-04-01 $419,995 (13.1%) $514,829 (20.7%) 1.33 451
    2019-05-01 $403,236 (4.3%) $502,176 (15.6%) 1.26 487
    2019-06-01 $399,900 (5.3%) $498,602 (13.9%) 1.25 532
    2019-07-01 $401,925 (7.9%) $498,757 (16.9%) 1.26 553
    2019-08-01 $399,655 (6.6%) $496,258 (12.7%) 1.27 564
    2019-09-01 $399,286 (6.5%) $494,038 (10.9%) 1.28 588
    2019-10-01 $399,000 (5.0%) $491,271 (9.8%) 1.29 603
    2019-11-01 $397,000 (2.5%) $489,387 (8.2%) 1.30 555
    2019-12-01 $396,625 (2.0%) $498,512 (11.3%) 1.32 404
    2020-01-01 $404,475 (4.4%) $521,194 (13.1%) 1.35 325
    2020-02-01 $389,425 (-0.4%) $495,222 (5.4%) 1.27 354
    2020-03-01 $379,499 (-5.8%) $488,225 (-0.3%) 1.19 406
    2020-04-01 $397,000 (-5.5%) $496,620 (-3.5%) 1.24 427
    2020-05-01 $409,900 (1.7%) $511,917 (1.9%) 1.25 441
    2020-06-01 $406,225 (1.6%) $514,133 (3.1%) 1.20 421
    2020-07-01 $399,800 (-0.5%) $509,681 (2.2%) 1.16 422
    2020-08-01 $405,000 (1.3%) $527,675 (6.3%) 1.16 408
    2020-09-01 $417,500 (4.6%) $541,091 (9.5%) 1.20 390
    2020-10-01 $414,950 (4.0%) $542,562 (10.4%) 1.19 376
    2020-11-01 $449,950 (13.3%) $622,000 (27.1%) 1.31 198
    2020-12-01 $439,969 (10.9%) $645,786 (29.5%) 1.31 176
    2021-01-01 $463,000 (14.5%) $652,206 (25.1%) 1.38 159
    2021-02-01 $449,500 (15.4%) $634,027 (28.0%) 1.31 143
    2021-03-01 $434,350 (14.5%) $608,676 (24.7%) 1.23 170
    2021-04-01 $447,463 (12.7%) $580,116 (16.8%) 1.21 187
    2021-05-01 $460,000 (12.2%) $582,502 (13.8%) 1.22 227
    2021-06-01 $478,873 (17.9%) $584,264 (13.6%) 1.26 239
    2021-07-01 $470,000 (17.6%) $573,403 (12.5%) 1.24 258
    2021-08-01 $485,875 (20.0%) $574,322 (8.8%) 1.30 302
    2021-09-01 $496,950 (19.0%) $581,988 (7.6%) 1.33 292
    2021-10-01 $490,000 (18.1%) $578,699 (6.7%) 1.31 295
    2021-11-01 $492,450 (9.5%) $582,537 (-6.3%) 1.32 216
    2021-12-01 $493,000 (12.1%) $591,708 (-8.4%) 1.34 178
    2022-01-01 $489,975 (5.8%) $581,196 (-10.9%) 1.32 122
    2022-02-01 $504,725 (12.3%) $606,532 (-4.3%) 1.31 128
    2022-03-01 $499,725 (15.1%) $611,815 (0.5%) 1.25 133
    2022-04-01 $519,950 (16.2%) $625,881 (7.9%) 1.24 180
    2022-05-01 $549,225 (19.4%) $652,408 (12.0%) 1.26 276
    2022-06-01 $548,700 (14.6%) $657,849 (12.6%) 1.22 391
    2022-07-01 $549,000 (16.8%) $648,460 (13.1%) 1.24 525
    2022-08-01 $548,436 (12.9%) $643,238 (12.0%) 1.27 566
    2022-09-01 $542,495 (9.2%) $629,446 (8.2%) 1.27 534
    2022-10-01 $549,975 (12.2%) $630,326 (8.9%) 1.29 515
    2022-11-01 $536,575 (9.0%) $627,881 (7.8%) 1.29 506
    2022-12-01 $543,888 (10.3%) $624,868 (5.6%) 1.36 464
    Olympia's median listing price for 2022-12-01 was $543,888, a difference of $50,888 (10.3%) versus the prior year and $7,313 versus the prior month.

    Olympia's median listing price comes in at 136% of the national average.

    Olympia's average listing price for 2022-12-01 was $624,868, a difference of $33,160 (5.6%) versus the prior year and $-3,013 versus the prior month.

    For the 2022-12-01 period, Olympia had 464 MLS listings, a difference of -42 listings (-8%) versus the prior month and 286 listings (161%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Olympia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 66 days 2,085 sqft
    2018-02-01 46 days 2,113 sqft
    2018-03-01 36 days 2,136 sqft
    2018-04-01 33 days 2,173 sqft
    2018-05-01 28 days 2,200 sqft
    2018-06-01 33 days 2,215 sqft
    2018-07-01 32 days 2,198 sqft
    2018-08-01 35 days 2,205 sqft
    2018-09-01 42 days 2,152 sqft
    2018-10-01 44 days 2,167 sqft
    2018-11-01 51 days 2,188 sqft
    2018-12-01 64 days 2,175 sqft
    2019-01-01 67 days 2,151 sqft
    2019-02-01 63 days 2,163 sqft
    2019-03-01 46 days 2,208 sqft
    2019-04-01 32 days 2,258 sqft
    2019-05-01 29 days 2,170 sqft
    2019-06-01 31 days 2,160 sqft
    2019-07-01 35 days 2,155 sqft
    2019-08-01 39 days 2,096 sqft
    2019-09-01 44 days 2,085 sqft
    2019-10-01 48 days 2,056 sqft
    2019-11-01 54 days 2,033 sqft
    2019-12-01 56 days 2,010 sqft
    2020-01-01 61 days 2,012 sqft
    2020-02-01 35 days 1,972 sqft
    2020-03-01 30 days 1,890 sqft
    2020-04-01 36 days 1,923 sqft
    2020-05-01 40 days 1,980 sqft
    2020-06-01 37 days 2,020 sqft
    2020-07-01 29 days 1,996 sqft
    2020-08-01 30 days 2,006 sqft
    2020-09-01 31 days 2,014 sqft
    2020-10-01 35 days 1,942 sqft
    2020-11-01 44 days 2,027 sqft
    2020-12-01 44 days 1,943 sqft
    2021-01-01 46 days 1,970 sqft
    2021-02-01 37 days 1,900 sqft
    2021-03-01 30 days 1,830 sqft
    2021-04-01 32 days 1,836 sqft
    2021-05-01 16 days 1,861 sqft
    2021-06-01 16 days 1,927 sqft
    2021-07-01 24 days 1,960 sqft
    2021-08-01 19 days 2,023 sqft
    2021-09-01 29 days 2,025 sqft
    2021-10-01 29 days 1,905 sqft
    2021-11-01 36 days 1,854 sqft
    2021-12-01 38 days 1,905 sqft
    2022-01-01 38 days 1,850 sqft
    2022-02-01 20 days 1,905 sqft
    2022-03-01 26 days 1,885 sqft
    2022-04-01 16 days 1,946 sqft
    2022-05-01 16 days 1,973 sqft
    2022-06-01 17 days 2,031 sqft
    2022-07-01 26 days 2,024 sqft
    2022-08-01 35 days 2,022 sqft
    2022-09-01 40 days 2,028 sqft
    2022-10-01 44 days 2,055 sqft
    2022-11-01 49 days 2,004 sqft
    2022-12-01 61 days 2,002 sqft
    Olympia's median listing age (time on market) for 2022-12-01 was 61 days. This is 59% longer than the same period one year ago.

    Olympia's median square footage for active listings during the 2022-12-01 period was 2,002 sqft. One year prior, the average listing was 1,905 sqft.