Olympia USDA Loans

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 5.4% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.28% and one month ago for the week of 2022-04-15, the average rate was 5.08%.

    The average rate one year ago was 3.12%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.01%.

    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 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. Total Fees
    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 $352,490 (15.2%) $397,155 (11.0%) 1.30 380
    2018-02-01 $362,473 (11.5%) $413,094 (12.5%) 1.31 373
    2018-03-01 $354,900 (5.0%) $424,515 (13.2%) 1.23 374
    2018-04-01 $371,195 (9.3%) $427,354 (11.1%) 1.25 413
    2018-05-01 $386,975 (14.0%) $436,348 (9.3%) 1.29 487
    2018-06-01 $379,900 (12.4%) $437,965 (9.4%) 1.27 572
    2018-07-01 $371,475 (12.7%) $425,270 (8.0%) 1.24 625
    2018-08-01 $374,990 (17.2%) $442,185 (14.4%) 1.25 689
    2018-09-01 $375,000 (15.7%) $444,639 (13.8%) 1.25 707
    2018-10-01 $379,725 (13.0%) $448,238 (12.8%) 1.27 674
    2018-11-01 $386,475 (13.3%) $451,822 (13.4%) 1.30 602
    2018-12-01 $385,950 (10.3%) $455,773 (16.3%) 1.32 565
    2019-01-01 $387,475 (9.9%) $460,083 (15.8%) 1.34 491
    2019-02-01 $391,993 (8.1%) $471,048 (14.0%) 1.31 434
    2019-03-01 $404,736 (14.0%) $493,073 (16.2%) 1.32 431
    2019-04-01 $424,725 (14.4%) $522,635 (22.3%) 1.34 428
    2019-05-01 $407,500 (5.3%) $505,285 (15.8%) 1.26 463
    2019-06-01 $399,900 (5.3%) $499,215 (14.0%) 1.23 512
    2019-07-01 $399,500 (7.5%) $497,681 (17.0%) 1.24 529
    2019-08-01 $399,214 (6.5%) $496,680 (12.3%) 1.26 530
    2019-09-01 $399,464 (6.5%) $496,874 (11.8%) 1.27 527
    2019-10-01 $399,000 (5.1%) $491,788 (9.7%) 1.27 596
    2019-11-01 $399,000 (3.2%) $490,584 (8.6%) 1.29 527
    2019-12-01 $399,945 (3.6%) $504,432 (10.7%) 1.33 389
    2020-01-01 $418,950 (8.1%) $530,758 (15.4%) 1.40 308
    2020-02-01 $389,900 (-0.5%) $497,004 (5.5%) 1.26 336
    2020-03-01 $384,950 (-4.9%) $492,286 (-0.2%) 1.20 389
    2020-04-01 $399,900 (-5.8%) $499,571 (-4.4%) 1.25 408
    2020-05-01 $419,900 (3.0%) $515,687 (2.1%) 1.27 422
    2020-06-01 $412,450 (3.1%) $516,316 (3.4%) 1.20 397
    2020-07-01 $399,925 (0.1%) $512,187 (2.9%) 1.15 401
    2020-08-01 $405,000 (1.5%) $532,337 (7.2%) 1.16 394
    2020-09-01 $422,950 (5.9%) $545,503 (9.8%) 1.21 368
    2020-10-01 $419,900 (5.2%) $550,103 (11.9%) 1.20 363
    2020-11-01 $450,000 (12.8%) $624,166 (27.2%) 1.29 190
    2020-12-01 $444,000 (11.0%) $650,242 (28.9%) 1.30 171
    2021-01-01 $475,000 (13.4%) $665,594 (25.4%) 1.40 147
    2021-02-01 $459,700 (17.9%) $651,745 (31.1%) 1.32 133
    2021-03-01 $442,450 (14.9%) $614,473 (24.8%) 1.24 159
    2021-04-01 $449,450 (12.4%) $584,685 (17.0%) 1.21 173
    2021-05-01 $468,950 (11.7%) $584,065 (13.3%) 1.23 209
    2021-06-01 $482,425 (17.0%) $586,682 (13.6%) 1.25 228
    2021-07-01 $470,500 (17.7%) $570,851 (11.5%) 1.22 243
    2021-08-01 $487,000 (20.3%) $574,082 (7.8%) 1.28 290
    2021-09-01 $498,700 (17.9%) $581,160 (6.5%) 1.31 283
    2021-10-01 $490,000 (16.7%) $577,979 (5.1%) 1.29 281
    2021-11-01 $495,000 (10.0%) $585,482 (-6.2%) 1.30 213
    2021-12-01 $499,250 (12.4%) $596,295 (-8.3%) 1.33 173
    2022-01-01 $499,500 (5.2%) $592,539 (-11.0%) 1.33 118
    2022-02-01 $500,000 (8.8%) $604,769 (-7.2%) 1.27 119
    2022-03-01 $499,950 (13.0%) $624,364 (1.6%) 1.23 121
    2022-04-01 $520,000 (15.7%) $634,244 (8.5%) 1.22 164
    Olympia's median listing price for 2022-04-01 was $520,000, a difference of $70,550 (15.7%) versus the prior year and $20,050 versus the prior month.

    Olympia's median listing price comes in at 122% of the national average.

    Olympia's average listing price for 2022-04-01 was $634,244, a difference of $49,559 (8.5%) versus the prior year and $9,880 versus the prior month.

    For the 2022-04-01 period, Olympia had 164 MLS listings, a difference of 43 listings (36%) versus the prior month and -9 listings (-5%) 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 65 days 2,115 sqft
    2018-02-01 45 days 2,129 sqft
    2018-03-01 36 days 2,140 sqft
    2018-04-01 35 days 2,173 sqft
    2018-05-01 30 days 2,201 sqft
    2018-06-01 35 days 2,220 sqft
    2018-07-01 34 days 2,194 sqft
    2018-08-01 35 days 2,209 sqft
    2018-09-01 42 days 2,157 sqft
    2018-10-01 44 days 2,180 sqft
    2018-11-01 49 days 2,195 sqft
    2018-12-01 59 days 2,191 sqft
    2019-01-01 66 days 2,156 sqft
    2019-02-01 64 days 2,164 sqft
    2019-03-01 43 days 2,230 sqft
    2019-04-01 30 days 2,295 sqft
    2019-05-01 33 days 2,190 sqft
    2019-06-01 31 days 2,163 sqft
    2019-07-01 36 days 2,180 sqft
    2019-08-01 37 days 2,098 sqft
    2019-09-01 40 days 2,079 sqft
    2019-10-01 48 days 2,043 sqft
    2019-11-01 55 days 2,035 sqft
    2019-12-01 58 days 2,049 sqft
    2020-01-01 64 days 2,053 sqft
    2020-02-01 41 days 1,980 sqft
    2020-03-01 33 days 1,906 sqft
    2020-04-01 36 days 1,977 sqft
    2020-05-01 42 days 2,003 sqft
    2020-06-01 39 days 2,023 sqft
    2020-07-01 33 days 1,999 sqft
    2020-08-01 32 days 2,020 sqft
    2020-09-01 33 days 2,034 sqft
    2020-10-01 35 days 1,964 sqft
    2020-11-01 46 days 2,038 sqft
    2020-12-01 46 days 1,963 sqft
    2021-01-01 51 days 1,980 sqft
    2021-02-01 44 days 1,926 sqft
    2021-03-01 35 days 1,829 sqft
    2021-04-01 32 days 1,847 sqft
    2021-05-01 29 days 1,886 sqft
    2021-06-01 24 days 1,930 sqft
    2021-07-01 28 days 2,007 sqft
    2021-08-01 24 days 2,045 sqft
    2021-09-01 31 days 2,041 sqft
    2021-10-01 32 days 1,916 sqft
    2021-11-01 37 days 1,846 sqft
    2021-12-01 39 days 1,906 sqft
    2022-01-01 41 days 1,920 sqft
    2022-02-01 24 days 1,903 sqft
    2022-03-01 29 days 1,900 sqft
    2022-04-01 22 days 1,942 sqft
    Olympia's median listing age (time on market) for 2022-04-01 was 22 days. This is -30% shorter than the same period one year ago.

    Olympia's median square footage for active listings during the 2022-04-01 period was 1,942 sqft. One year prior, the average listing was 1,847 sqft.