Olympia USDA Loan Rates, Closing Costs & Stats

OLYMPIA-LACEY-TUMWATER, WA

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 1 lenders originated 2 USDA loans during 2023. The total origination value was $850,000, with an average USDA loan value of $425,000.

Olympia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Olympia averaged 6.63% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Olympia's average USDA mortgage closing costs are $7,135.

The average rate for the prior week (2024-04-05) was 6.65% and one month ago for the week of 2024-03-08, the average rate was 6.51%.

The average rate one year ago was 6.02%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.65%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2 5.36% $15,407

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 $351,868 (17.3%) $392,814 (11.9%) 1.30 377
2018-02-01 $362,221 (11.5%) $408,388 (11.7%) 1.32 372
2018-03-01 $357,425 (5.9%) $421,339 (13.4%) 1.25 368
2018-04-01 $371,738 (9.7%) $426,456 (11.2%) 1.26 411
2018-05-01 $386,975 (13.8%) $434,337 (9.4%) 1.29 484
2018-06-01 $379,950 (12.4%) $436,651 (10.0%) 1.27 572
2018-07-01 $372,495 (14.6%) $426,636 (9.3%) 1.24 624
2018-08-01 $374,990 (17.8%) $440,441 (15.4%) 1.26 694
2018-09-01 $375,000 (16.1%) $445,474 (14.8%) 1.26 715
2018-10-01 $379,925 (13.3%) $447,496 (13.4%) 1.29 687
2018-11-01 $387,475 (14.1%) $452,453 (14.9%) 1.31 609
2018-12-01 $389,000 (11.2%) $447,883 (15.2%) 1.34 571
2019-01-01 $387,448 (10.1%) $461,031 (17.4%) 1.34 494
2019-02-01 $390,858 (7.9%) $469,921 (15.1%) 1.32 446
2019-03-01 $402,849 (12.7%) $489,587 (16.2%) 1.32 445
2019-04-01 $419,995 (13.0%) $514,402 (20.6%) 1.33 451
2019-05-01 $403,236 (4.2%) $502,176 (15.6%) 1.26 487
2019-06-01 $399,900 (5.3%) $498,602 (14.2%) 1.25 532
2019-07-01 $401,925 (7.9%) $499,197 (17.0%) 1.26 552
2019-08-01 $399,655 (6.6%) $496,704 (12.8%) 1.27 563
2019-09-01 $399,286 (6.5%) $494,496 (11.0%) 1.28 587
2019-10-01 $399,000 (5.0%) $491,741 (9.9%) 1.29 602
2019-11-01 $399,000 (3.0%) $489,910 (8.3%) 1.31 554
2019-12-01 $397,000 (2.1%) $499,188 (11.5%) 1.32 403
2020-01-01 $404,688 (4.5%) $521,664 (13.2%) 1.35 324
2020-02-01 $389,425 (-0.4%) $495,222 (5.4%) 1.27 354
2020-03-01 $379,500 (-5.8%) $488,542 (-0.2%) 1.19 405
2020-04-01 $397,000 (-5.5%) $496,947 (-3.4%) 1.24 426
2020-05-01 $409,900 (1.7%) $512,276 (2.0%) 1.25 440
2020-06-01 $407,500 (1.9%) $514,485 (3.2%) 1.20 420
2020-07-01 $399,900 (-0.5%) $510,022 (2.2%) 1.16 421
2020-08-01 $405,000 (1.3%) $527,675 (6.2%) 1.16 407
2020-09-01 $417,500 (4.6%) $541,091 (9.4%) 1.20 390
2020-10-01 $414,950 (4.0%) $542,562 (10.3%) 1.19 376
2020-11-01 $449,950 (12.8%) $622,000 (27.0%) 1.32 198
2020-12-01 $439,969 (10.8%) $645,786 (29.4%) 1.31 176
2021-01-01 $463,000 (14.4%) $652,206 (25.0%) 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 (24.6%) 1.23 170
2021-04-01 $447,463 (12.7%) $585,324 (17.8%) 1.21 187
2021-05-01 $462,500 (12.8%) $592,604 (15.7%) 1.23 228
2021-06-01 $479,495 (17.7%) $591,387 (15.0%) 1.26 240
2021-07-01 $470,000 (17.5%) $580,832 (13.9%) 1.24 259
2021-08-01 $487,250 (20.3%) $580,804 (10.1%) 1.30 303
2021-09-01 $497,000 (19.0%) $588,718 (8.8%) 1.33 293
2021-10-01 $490,000 (18.1%) $585,659 (7.9%) 1.31 296
2021-11-01 $492,450 (9.5%) $591,108 (-5.0%) 1.32 217
2021-12-01 $493,500 (12.2%) $601,189 (-6.9%) 1.34 179
2022-01-01 $489,999 (5.8%) $595,582 (-8.7%) 1.32 123
2022-02-01 $506,988 (12.8%) $621,090 (-2.0%) 1.32 129
2022-03-01 $499,950 (15.1%) $624,510 (2.6%) 1.25 134
2022-04-01 $519,990 (16.2%) $634,480 (8.4%) 1.24 181
2022-05-01 $549,575 (18.8%) $660,430 (11.5%) 1.26 277
2022-06-01 $548,700 (14.4%) $664,153 (12.3%) 1.22 392
2022-07-01 $549,000 (16.8%) $648,460 (11.6%) 1.24 525
2022-08-01 $548,425 (12.6%) $643,111 (10.7%) 1.27 566
2022-09-01 $542,495 (9.2%) $629,446 (6.9%) 1.27 534
2022-10-01 $549,975 (12.2%) $630,326 (7.6%) 1.29 515
2022-11-01 $536,575 (9.0%) $627,881 (6.2%) 1.29 506
2022-12-01 $545,000 (10.4%) $627,715 (4.4%) 1.35 460
2023-01-01 $548,500 (11.9%) $682,794 (14.6%) 1.36 378
2023-02-01 $537,469 (6.0%) $684,504 (10.2%) 1.30 297
2023-03-01 $533,500 (6.7%) $696,507 (11.5%) 1.26 263
2023-04-01 $552,495 (6.3%) $726,345 (14.5%) 1.28 239
2023-05-01 $569,900 (3.7%) $728,612 (10.3%) 1.29 283
2023-06-01 $552,238 (0.6%) $695,273 (4.7%) 1.24 326
2023-07-01 $579,450 (5.6%) $716,295 (10.5%) 1.32 360
2023-08-01 $577,583 (5.3%) $722,106 (12.3%) 1.33 401
2023-09-01 $576,550 (6.3%) $721,506 (14.6%) 1.34 406
2023-10-01 $582,200 (5.9%) $733,089 (16.3%) 1.37 408
2023-11-01 $575,000 (7.2%) $746,524 (18.9%) 1.37 473
2023-12-01 $568,000 (4.2%) $754,473 (20.2%) 1.39 391
2024-01-01 $558,199 (1.8%) $743,630 (8.9%) 1.36 344
2024-02-01 $569,998 (6.1%) $747,227 (9.2%) 1.37 336
2024-03-01 $556,200 (4.3%) $731,502 (5.0%) 1.31 356
Olympia's median listing price for 2024-03-01 was $556,200, a difference of $22,700 (4.3%) versus the prior year and $-13,798 versus the prior month.

Olympia's median listing price comes in at 131% of the national average.

Olympia's average listing price for 2024-03-01 was $731,502, a difference of $34,995 (5.0%) versus the prior year and $-15,725 versus the prior month.

For the 2024-03-01 period, Olympia had 356 MLS listings, a difference of 20 listings (6%) versus the prior month and 93 listings (35%) 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 61 days 2,095 sqft
2018-02-01 38 days 2,132 sqft
2018-03-01 33 days 2,140 sqft
2018-04-01 30 days 2,187 sqft
2018-05-01 26 days 2,200 sqft
2018-06-01 32 days 2,221 sqft
2018-07-01 31 days 2,199 sqft
2018-08-01 34 days 2,204 sqft
2018-09-01 39 days 2,152 sqft
2018-10-01 43 days 2,170 sqft
2018-11-01 50 days 2,189 sqft
2018-12-01 61 days 2,175 sqft
2019-01-01 65 days 2,151 sqft
2019-02-01 62 days 2,163 sqft
2019-03-01 41 days 2,209 sqft
2019-04-01 30 days 2,259 sqft
2019-05-01 27 days 2,171 sqft
2019-06-01 31 days 2,160 sqft
2019-07-01 34 days 2,155 sqft
2019-08-01 38 days 2,097 sqft
2019-09-01 42 days 2,085 sqft
2019-10-01 45 days 2,057 sqft
2019-11-01 51 days 2,034 sqft
2019-12-01 51 days 2,015 sqft
2020-01-01 51 days 2,013 sqft
2020-02-01 30 days 1,972 sqft
2020-03-01 27 days 1,886 sqft
2020-04-01 32 days 1,926 sqft
2020-05-01 36 days 1,983 sqft
2020-06-01 32 days 2,021 sqft
2020-07-01 24 days 1,997 sqft
2020-08-01 25 days 2,008 sqft
2020-09-01 28 days 2,014 sqft
2020-10-01 31 days 1,942 sqft
2020-11-01 39 days 2,027 sqft
2020-12-01 39 days 1,944 sqft
2021-01-01 37 days 1,970 sqft
2021-02-01 29 days 1,900 sqft
2021-03-01 23 days 1,830 sqft
2021-04-01 25 days 1,836 sqft
2021-05-01 12 days 1,862 sqft
2021-06-01 15 days 1,937 sqft
2021-07-01 25 days 1,960 sqft
2021-08-01 19 days 2,026 sqft
2021-09-01 29 days 2,033 sqft
2021-10-01 29 days 1,908 sqft
2021-11-01 36 days 1,855 sqft
2021-12-01 38 days 1,914 sqft
2022-01-01 38 days 1,855 sqft
2022-02-01 19 days 1,907 sqft
2022-03-01 26 days 1,888 sqft
2022-04-01 16 days 1,950 sqft
2022-05-01 16 days 1,976 sqft
2022-06-01 17 days 2,028 sqft
2022-07-01 26 days 2,020 sqft
2022-08-01 35 days 2,020 sqft
2022-09-01 39 days 2,026 sqft
2022-10-01 44 days 2,051 sqft
2022-11-01 49 days 2,002 sqft
2022-12-01 60 days 2,000 sqft
2023-01-01 69 days 2,048 sqft
2023-02-01 70 days 2,025 sqft
2023-03-01 49 days 2,118 sqft
2023-04-01 33 days 2,154 sqft
2023-05-01 30 days 2,127 sqft
2023-06-01 30 days 2,080 sqft
2023-07-01 34 days 2,113 sqft
2023-08-01 35 days 2,142 sqft
2023-09-01 41 days 2,168 sqft
2023-10-01 45 days 2,199 sqft
2023-11-01 51 days 2,189 sqft
2023-12-01 58 days 2,120 sqft
2024-01-01 70 days 2,040 sqft
2024-02-01 40 days 1,980 sqft
2024-03-01 39 days 1,948 sqft
Olympia's median listing age (time on market) for 2024-03-01 was 39 days. This is -20% shorter than the same period one year ago.

Olympia's median square footage for active listings during the 2024-03-01 period was 1,948 sqft. One year prior, the average listing was 2,118 sqft.