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 6 lenders originated 7 USDA loans during 2022. The total origination value was $2,625,000, with an average USDA loan value of $375,000.

    Olympia USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Olympia averaged -0.59% for the week of 2023-06-02, compared to the national average (all USDA variants) of 0% for the same period.

    Olympia's average USDA mortgage closing costs are $7,035.

    The average rate for the prior week (2023-05-26) was 6.35% and one month ago for the week of 2023-04-28, the average rate was 6.23%.

    The average rate one year ago was 4.79%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.47%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 2 5.00% $9,195
    CALIBER HOME LOANS, INC. 1 6.75% $10,816
    Flagstar Bank, FSB 1 5.88% $12,169
    HOME POINT FINANCIAL CORPORATION 1 3.00% $7,119
    Paramount Residential Mortgage Group, Inc. 1 4.38% $13,528
    Willamette Valley Bank 1 3.25% $7,680

    The top Olympia USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2 USDA loans originated. Their average total fees are $9,195, which is $1,621 lower than the next largest lender, CALIBER HOME LOANS, INC..

    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%) 1.29 687
    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%) $514,402 (20.6%) 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%) 1.28 354
    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%) 1.32 198
    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%) $585,324 (17.9%) 1.21 187
    2021-05-01 $462,500 (12.8%) $592,604 (15.8%) 1.23 228
    2021-06-01 $479,495 (18.0%) $591,387 (15.0%) 1.26 240
    2021-07-01 $470,000 (17.6%) $580,832 (14.0%) 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 $537,485 (6.0%) $684,838 (10.3%) 1.30 298
    2023-03-01 $535,738 (7.2%) $696,836 (11.6%) 1.26 264
    2023-04-01 $554,990 (6.7%) $726,605 (14.5%) 1.29 240
    2023-05-01 $569,900 (3.7%) $728,612 (10.3%) 1.29 283
    Olympia's median listing price for 2023-05-01 was $569,900, a difference of $20,325 (3.7%) versus the prior year and $14,910 versus the prior month.

    Olympia's median listing price comes in at 129% of the national average.

    Olympia's average listing price for 2023-05-01 was $728,612, a difference of $68,182 (10.3%) versus the prior year and $2,007 versus the prior month.

    For the 2023-05-01 period, Olympia had 283 MLS listings, a difference of 43 listings (18%) versus the prior month and 6 listings (2%) 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 60 days 2,085 sqft
    2018-02-01 38 days 2,115 sqft
    2018-03-01 33 days 2,137 sqft
    2018-04-01 30 days 2,179 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 2,205 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 2,096 sqft
    2019-09-01 42 days 2,085 sqft
    2019-10-01 45 days 2,056 sqft
    2019-11-01 51 days 2,033 sqft
    2019-12-01 51 days 2,010 sqft
    2020-01-01 51 days 2,012 sqft
    2020-02-01 30 days 1,972 sqft
    2020-03-01 26 days 1,890 sqft
    2020-04-01 33 days 1,923 sqft
    2020-05-01 36 days 1,980 sqft
    2020-06-01 32 days 2,017 sqft
    2020-07-01 24 days 1,992 sqft
    2020-08-01 25 days 2,003 sqft
    2020-09-01 28 days 2,014 sqft
    2020-10-01 31 days 1,948 sqft
    2020-11-01 39 days 2,027 sqft
    2020-12-01 39 days 1,943 sqft
    2021-01-01 37 days 1,960 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 2,029 sqft
    2021-09-01 29 days 2,027 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 1,978 sqft
    2022-06-01 17 days 2,035 sqft
    2022-07-01 26 days 2,024 sqft
    2022-08-01 35 days 2,022 sqft
    2022-09-01 39 days 2,028 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 2,052 sqft
    2023-02-01 69 days 2,029 sqft
    2023-03-01 49 days 2,126 sqft
    2023-04-01 33 days 2,158 sqft
    2023-05-01 30 days 2,137 sqft
    Olympia's median listing age (time on market) for 2023-05-01 was 30 days. This is 84% longer than the same period one year ago.

    Olympia's median square footage for active listings during the 2023-05-01 period was 2,137 sqft. One year prior, the average listing was 1,978 sqft.