Reading USDA Loan Rates, Closing Costs & Stats

READING, PA

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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.

    Reading's 6 lenders originated 10 USDA loans during 2023. The total origination value was $1,840,000, with an average USDA loan value of $184,000.

    Reading USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Reading averaged 6.68% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Reading's average USDA mortgage closing costs are $5,739.

    The average rate for the prior week (2024-04-12) was 6.64% and one month ago for the week of 2024-03-15, the average rate was 6.72%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.24%.

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

    Reading 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 Reading level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Northpointe Bank 3 6.25% $8,083
    Mortgage America, Inc. 2 6.06% $6,264
    GUARANTEED RATE, INC. 1 6.25% $4,996
    GUILD MORTGAGE COMPANY 1 6.13% $8,417
    MOVEMENT MORTGAGE, LLC 1 7.63% $6,448
    UNITED WHOLESALE MORTGAGE, LLC 1 6.13% $7,533

    The top Reading USDA lender as defined by loan originations is Northpointe Bank, with 3 USDA loans originated. Their average total fees are $8,083, which is $1,819 higher than the next largest lender, Mortgage America, Inc..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Reading (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 $171,945 (1.2%) $224,586 (3.3%) 0.64 1,241
    2018-02-01 $174,950 (0.6%) $224,243 (0.5%) 0.64 1,159
    2018-03-01 $179,900 (2.8%) $232,645 (3.8%) 0.63 1,102
    2018-04-01 $186,875 (1.1%) $237,457 (3.6%) 0.63 1,159
    2018-05-01 $199,900 (5.3%) $247,733 (6.7%) 0.67 1,191
    2018-06-01 $209,900 (10.7%) $256,497 (9.5%) 0.70 1,253
    2018-07-01 $209,050 (10.1%) $255,063 (7.8%) 0.70 1,253
    2018-08-01 $210,500 (13.8%) $255,859 (9.0%) 0.71 1,253
    2018-09-01 $209,900 (16.7%) $253,270 (9.3%) 0.71 1,255
    2018-10-01 $209,950 (17.4%) $255,392 (10.2%) 0.71 1,246
    2018-11-01 $209,900 (20.2%) $254,543 (12.7%) 0.71 1,239
    2018-12-01 $204,990 (17.2%) $251,406 (9.4%) 0.71 1,176
    2019-01-01 $199,948 (16.3%) $251,747 (12.1%) 0.69 1,071
    2019-02-01 $199,945 (14.3%) $256,610 (14.4%) 0.68 1,009
    2019-03-01 $208,471 (15.9%) $261,668 (12.5%) 0.68 997
    2019-04-01 $222,400 (19.0%) $268,807 (13.2%) 0.71 987
    2019-05-01 $222,400 (11.3%) $269,733 (8.9%) 0.70 1,006
    2019-06-01 $220,000 (4.8%) $268,946 (4.9%) 0.69 1,030
    2019-07-01 $219,900 (5.2%) $265,874 (4.2%) 0.69 1,095
    2019-08-01 $218,991 (4.0%) $269,232 (5.2%) 0.69 1,077
    2019-09-01 $225,127 (7.3%) $273,995 (8.2%) 0.72 1,043
    2019-10-01 $232,445 (10.7%) $278,665 (9.1%) 0.75 998
    2019-11-01 $235,000 (12.0%) $280,029 (10.0%) 0.77 953
    2019-12-01 $232,475 (13.4%) $281,374 (11.9%) 0.78 842
    2020-01-01 $229,950 (15.0%) $282,204 (12.1%) 0.77 771
    2020-02-01 $246,900 (23.5%) $286,382 (11.6%) 0.81 716
    2020-03-01 $259,900 (24.7%) $297,043 (13.5%) 0.81 674
    2020-04-01 $274,400 (23.4%) $312,733 (16.3%) 0.86 592
    2020-05-01 $259,900 (16.9%) $302,211 (12.0%) 0.79 618
    2020-06-01 $249,950 (13.6%) $305,617 (13.6%) 0.74 586
    2020-07-01 $272,650 (24.0%) $325,632 (22.5%) 0.79 484
    2020-08-01 $270,000 (23.3%) $321,418 (19.4%) 0.77 479
    2020-09-01 $259,975 (15.5%) $317,217 (15.8%) 0.74 476
    2020-10-01 $264,900 (14.0%) $326,057 (17.0%) 0.76 459
    2020-11-01 $267,400 (13.8%) $316,259 (12.9%) 0.78 464
    2020-12-01 $262,400 (12.9%) $311,463 (10.7%) 0.78 431
    2021-01-01 $258,500 (12.4%) $317,356 (12.5%) 0.77 367
    2021-02-01 $285,400 (15.6%) $346,802 (21.1%) 0.83 283
    2021-03-01 $289,000 (11.2%) $354,156 (19.2%) 0.82 274
    2021-04-01 $279,075 (1.7%) $341,585 (9.2%) 0.76 285
    2021-05-01 $274,900 (5.8%) $342,368 (13.3%) 0.73 313
    2021-06-01 $239,220 (-4.3%) $317,388 (3.9%) 0.63 408
    2021-07-01 $249,500 (-8.5%) $324,997 (-0.2%) 0.66 415
    2021-08-01 $246,745 (-8.6%) $317,398 (-1.3%) 0.66 449
    2021-09-01 $242,450 (-6.7%) $314,684 (-0.8%) 0.65 439
    2021-10-01 $245,990 (-7.1%) $322,172 (-1.2%) 0.66 439
    2021-11-01 $245,445 (-8.2%) $313,134 (-1.0%) 0.66 412
    2021-12-01 $234,950 (-10.5%) $299,524 (-3.8%) 0.64 353
    2022-01-01 $239,900 (-7.2%) $310,126 (-2.3%) 0.65 274
    2022-02-01 $239,450 (-16.1%) $317,375 (-8.5%) 0.62 262
    2022-03-01 $254,950 (-11.8%) $335,754 (-5.2%) 0.64 252
    2022-04-01 $257,000 (-7.9%) $337,363 (-1.2%) 0.61 278
    2022-05-01 $247,728 (-9.9%) $332,085 (-3.0%) 0.57 289
    2022-06-01 $254,900 (6.6%) $346,326 (9.1%) 0.57 351
    2022-07-01 $252,000 (1.0%) $342,439 (5.4%) 0.57 405
    2022-08-01 $264,900 (7.4%) $340,046 (7.1%) 0.61 425
    2022-09-01 $246,450 (1.7%) $330,811 (5.1%) 0.58 435
    2022-10-01 $249,950 (1.6%) $335,558 (4.2%) 0.59 433
    2022-11-01 $271,975 (10.8%) $345,325 (10.3%) 0.65 423
    2022-12-01 $275,000 (17.1%) $338,517 (13.0%) 0.68 369
    2023-01-01 $273,850 (14.2%) $350,182 (12.9%) 0.68 317
    2023-02-01 $287,500 (20.1%) $363,468 (14.5%) 0.69 285
    2023-03-01 $309,200 (21.3%) $388,007 (15.6%) 0.73 286
    2023-04-01 $319,900 (24.5%) $388,611 (15.2%) 0.74 299
    2023-05-01 $324,925 (31.2%) $400,010 (20.5%) 0.74 310
    2023-06-01 $340,329 (33.5%) $418,852 (20.9%) 0.76 325
    2023-07-01 $337,754 (34.0%) $426,262 (24.5%) 0.77 310
    2023-08-01 $330,825 (24.9%) $403,604 (18.7%) 0.76 325
    2023-09-01 $349,900 (42.0%) $406,765 (23.0%) 0.81 342
    2023-10-01 $347,671 (39.1%) $406,877 (21.3%) 0.82 367
    2023-11-01 $336,200 (23.6%) $395,412 (14.5%) 0.80 376
    2023-12-01 $316,750 (15.2%) $371,887 (9.9%) 0.77 360
    2024-01-01 $307,450 (12.3%) $369,204 (5.4%) 0.75 305
    2024-02-01 $306,200 (6.5%) $365,293 (0.5%) 0.74 280
    2024-03-01 $298,500 (-3.5%) $378,392 (-2.5%) 0.70 262
    Reading's median listing price for 2024-03-01 was $298,500, a difference of $-10,700 (-3.5%) versus the prior year and $-7,700 versus the prior month.

    Reading's median listing price comes in at 70% of the national average.

    Reading's average listing price for 2024-03-01 was $378,392, a difference of $-9,615 (-2.5%) versus the prior year and $13,099 versus the prior month.

    For the 2024-03-01 period, Reading had 262 MLS listings, a difference of -18 listings (-6%) versus the prior month and -24 listings (-8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Reading (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 1,742 sqft
    2018-02-01 90 days 1,766 sqft
    2018-03-01 65 days 1,791 sqft
    2018-04-01 52 days 1,811 sqft
    2018-05-01 52 days 1,862 sqft
    2018-06-01 53 days 1,916 sqft
    2018-07-01 58 days 1,884 sqft
    2018-08-01 60 days 1,887 sqft
    2018-09-01 64 days 1,900 sqft
    2018-10-01 67 days 1,899 sqft
    2018-11-01 67 days 1,883 sqft
    2018-12-01 73 days 1,858 sqft
    2019-01-01 85 days 1,856 sqft
    2019-02-01 87 days 1,885 sqft
    2019-03-01 69 days 1,937 sqft
    2019-04-01 47 days 1,995 sqft
    2019-05-01 39 days 1,984 sqft
    2019-06-01 40 days 1,950 sqft
    2019-07-01 44 days 1,946 sqft
    2019-08-01 48 days 1,960 sqft
    2019-09-01 53 days 1,991 sqft
    2019-10-01 58 days 2,023 sqft
    2019-11-01 57 days 2,036 sqft
    2019-12-01 70 days 2,010 sqft
    2020-01-01 77 days 2,025 sqft
    2020-02-01 66 days 2,035 sqft
    2020-03-01 44 days 2,080 sqft
    2020-04-01 65 days 2,134 sqft
    2020-05-01 74 days 2,033 sqft
    2020-06-01 40 days 2,046 sqft
    2020-07-01 34 days 2,110 sqft
    2020-08-01 28 days 2,144 sqft
    2020-09-01 25 days 2,030 sqft
    2020-10-01 41 days 2,059 sqft
    2020-11-01 42 days 2,014 sqft
    2020-12-01 47 days 1,966 sqft
    2021-01-01 57 days 1,940 sqft
    2021-02-01 62 days 2,101 sqft
    2021-03-01 45 days 1,995 sqft
    2021-04-01 30 days 1,949 sqft
    2021-05-01 25 days 1,892 sqft
    2021-06-01 31 days 1,811 sqft
    2021-07-01 38 days 1,832 sqft
    2021-08-01 39 days 1,812 sqft
    2021-09-01 39 days 1,785 sqft
    2021-10-01 44 days 1,792 sqft
    2021-11-01 46 days 1,786 sqft
    2021-12-01 48 days 1,752 sqft
    2022-01-01 50 days 1,685 sqft
    2022-02-01 42 days 1,741 sqft
    2022-03-01 29 days 1,770 sqft
    2022-04-01 29 days 1,800 sqft
    2022-05-01 24 days 1,749 sqft
    2022-06-01 24 days 1,764 sqft
    2022-07-01 30 days 1,769 sqft
    2022-08-01 32 days 1,778 sqft
    2022-09-01 41 days 1,766 sqft
    2022-10-01 40 days 1,787 sqft
    2022-11-01 42 days 1,837 sqft
    2022-12-01 57 days 1,827 sqft
    2023-01-01 65 days 1,814 sqft
    2023-02-01 51 days 1,906 sqft
    2023-03-01 38 days 1,997 sqft
    2023-04-01 33 days 1,980 sqft
    2023-05-01 33 days 1,984 sqft
    2023-06-01 37 days 1,982 sqft
    2023-07-01 39 days 1,988 sqft
    2023-08-01 35 days 1,930 sqft
    2023-09-01 40 days 1,969 sqft
    2023-10-01 38 days 1,981 sqft
    2023-11-01 38 days 1,880 sqft
    2023-12-01 45 days 1,848 sqft
    2024-01-01 52 days 1,822 sqft
    2024-02-01 38 days 1,807 sqft
    2024-03-01 36 days 1,702 sqft
    Reading's median listing age (time on market) for 2024-03-01 was 36 days. This is -5% shorter than the same period one year ago.

    Reading's median square footage for active listings during the 2024-03-01 period was 1,702 sqft. One year prior, the average listing was 1,997 sqft.