Redding USDA Loan Rates, Closing Costs & Stats

REDDING, CA

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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.

    Redding's 4 lenders originated 11 USDA loans during 2023. The total origination value was $2,485,000, with an average USDA loan value of $225,909.

    Redding USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Redding averaged 7.05% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Redding's average USDA mortgage closing costs are $6,899.

    The average rate for the prior week (2024-04-12) was 6.8% and one month ago for the week of 2024-03-15, the average rate was 6.38%.

    The average rate one year ago was 6.22%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.8%.

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

    Redding 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 Redding level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.46% $10,019
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.44% $8,163
    NEWREZ LLC 2 6.75% $10,671
    ON Q FINANCIAL, INC. 1 6.38% $8,475

    The top Redding USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $10,019, which is $1,856 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Redding (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 $321,500 (8.6%) $403,848 (2.8%) 1.19 601
    2018-02-01 $329,225 (9.8%) $401,777 (0.8%) 1.20 625
    2018-03-01 $329,900 (3.0%) $408,033 (0.2%) 1.16 670
    2018-04-01 $329,000 (-0.3%) $402,410 (-4.4%) 1.12 724
    2018-05-01 $329,975 (3.5%) $413,520 (5.1%) 1.10 786
    2018-06-01 $327,500 (3.2%) $405,212 (4.1%) 1.09 844
    2018-07-01 $317,000 (1.2%) $382,582 (-0.2%) 1.06 871
    2018-08-01 $312,425 (1.1%) $383,511 (-0.3%) 1.05 764
    2018-09-01 $324,650 (1.8%) $395,132 (0.5%) 1.09 763
    2018-10-01 $325,125 (1.8%) $400,445 (2.8%) 1.10 775
    2018-11-01 $332,200 (4.8%) $416,371 (5.5%) 1.13 743
    2018-12-01 $329,450 (3.5%) $421,437 (5.0%) 1.14 713
    2019-01-01 $333,350 (3.7%) $430,589 (6.6%) 1.15 662
    2019-02-01 $327,000 (-0.7%) $430,424 (7.1%) 1.10 659
    2019-03-01 $324,943 (-1.5%) $431,372 (5.7%) 1.06 650
    2019-04-01 $327,450 (-0.5%) $436,114 (8.4%) 1.04 641
    2019-05-01 $339,950 (3.0%) $435,776 (5.4%) 1.06 724
    2019-06-01 $339,900 (3.8%) $434,063 (7.1%) 1.06 803
    2019-07-01 $333,575 (5.2%) $422,672 (10.5%) 1.04 793
    2019-08-01 $331,636 (6.2%) $424,062 (10.6%) 1.05 780
    2019-09-01 $330,716 (1.9%) $426,752 (8.0%) 1.06 781
    2019-10-01 $332,852 (2.4%) $428,546 (7.0%) 1.07 774
    2019-11-01 $339,000 (2.1%) $440,275 (5.7%) 1.11 708
    2019-12-01 $336,950 (2.3%) $445,673 (5.8%) 1.12 614
    2020-01-01 $347,850 (4.4%) $457,451 (6.2%) 1.16 558
    2020-02-01 $342,450 (4.7%) $458,946 (6.6%) 1.12 541
    2020-03-01 $357,225 (9.9%) $466,025 (8.0%) 1.12 558
    2020-04-01 $362,900 (10.8%) $466,691 (7.0%) 1.14 597
    2020-05-01 $379,900 (11.8%) $470,186 (7.9%) 1.15 592
    2020-06-01 $394,450 (16.1%) $486,358 (12.1%) 1.16 556
    2020-07-01 $400,575 (20.1%) $510,485 (20.8%) 1.16 467
    2020-08-01 $399,000 (20.3%) $558,104 (31.6%) 1.14 415
    2020-09-01 $398,450 (20.5%) $586,929 (37.5%) 1.14 415
    2020-10-01 $398,750 (19.8%) $565,627 (32.0%) 1.14 457
    2020-11-01 $399,000 (17.7%) $573,846 (30.3%) 1.17 451
    2020-12-01 $414,500 (23.0%) $589,681 (32.3%) 1.23 387
    2021-01-01 $427,000 (22.8%) $614,662 (34.4%) 1.27 316
    2021-02-01 $431,000 (25.9%) $630,215 (37.3%) 1.25 293
    2021-03-01 $426,500 (19.4%) $618,482 (32.7%) 1.21 301
    2021-04-01 $427,475 (17.8%) $649,269 (39.1%) 1.16 279
    2021-05-01 $449,900 (18.4%) $714,972 (52.1%) 1.20 309
    2021-06-01 $456,225 (15.7%) $700,595 (44.1%) 1.20 347
    2021-07-01 $425,000 (6.1%) $651,532 (27.6%) 1.12 394
    2021-08-01 $432,000 (8.3%) $634,507 (13.7%) 1.15 427
    2021-09-01 $439,450 (10.3%) $639,153 (8.9%) 1.17 438
    2021-10-01 $442,750 (11.0%) $604,308 (6.8%) 1.18 442
    2021-11-01 $438,500 (9.9%) $603,113 (5.1%) 1.17 431
    2021-12-01 $438,500 (5.8%) $598,196 (1.4%) 1.19 376
    2022-01-01 $459,900 (7.7%) $618,810 (0.7%) 1.24 310
    2022-02-01 $479,950 (11.4%) $643,092 (2.0%) 1.25 307
    2022-03-01 $489,000 (14.7%) $675,283 (9.2%) 1.22 338
    2022-04-01 $475,000 (11.1%) $686,254 (5.7%) 1.13 374
    2022-05-01 $472,200 (5.0%) $647,622 (-9.4%) 1.08 411
    2022-06-01 $472,000 (3.5%) $631,175 (-9.9%) 1.05 450
    2022-07-01 $430,000 (1.2%) $593,154 (-9.0%) 0.97 524
    2022-08-01 $439,000 (1.6%) $605,928 (-4.5%) 1.01 533
    2022-09-01 $439,125 (-0.1%) $611,198 (-4.4%) 1.03 539
    2022-10-01 $424,900 (-4.0%) $587,739 (-2.7%) 1.00 538
    2022-11-01 $413,200 (-5.8%) $586,823 (-2.7%) 0.99 513
    2022-12-01 $418,000 (-4.7%) $595,172 (-0.5%) 1.03 434
    2023-01-01 $409,200 (-11.0%) $592,585 (-4.2%) 1.01 395
    2023-02-01 $425,000 (-11.5%) $605,604 (-5.8%) 1.03 368
    2023-03-01 $439,825 (-10.1%) $615,764 (-8.8%) 1.04 352
    2023-04-01 $445,000 (-6.3%) $622,366 (-9.3%) 1.03 350
    2023-05-01 $446,248 (-5.5%) $602,037 (-7.0%) 1.01 401
    2023-06-01 $450,000 (-4.7%) $652,583 (3.4%) 1.01 435
    2023-07-01 $455,000 (5.8%) $622,625 (5.0%) 1.03 484
    2023-08-01 $457,150 (4.1%) $649,948 (7.3%) 1.05 511
    2023-09-01 $448,800 (2.2%) $642,268 (5.1%) 1.04 508
    2023-10-01 $431,498 (1.6%) $632,177 (7.6%) 1.02 491
    2023-11-01 $429,900 (4.0%) $634,743 (8.2%) 1.02 462
    2023-12-01 $437,738 (4.7%) $648,623 (9.0%) 1.07 414
    2024-01-01 $432,200 (5.6%) $666,679 (12.5%) 1.06 365
    2024-02-01 $439,000 (3.3%) $681,131 (12.5%) 1.06 346
    2024-03-01 $449,000 (2.1%) $694,589 (12.8%) 1.06 344
    Redding's median listing price for 2024-03-01 was $449,000, a difference of $9,175 (2.1%) versus the prior year and $10,000 versus the prior month.

    Redding's median listing price comes in at 106% of the national average.

    Redding's average listing price for 2024-03-01 was $694,589, a difference of $78,825 (12.8%) versus the prior year and $13,458 versus the prior month.

    For the 2024-03-01 period, Redding had 344 MLS listings, a difference of -2 listings (-1%) versus the prior month and -8 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Redding (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 1,801 sqft
    2018-02-01 63 days 1,802 sqft
    2018-03-01 52 days 1,827 sqft
    2018-04-01 53 days 1,814 sqft
    2018-05-01 47 days 1,830 sqft
    2018-06-01 51 days 1,818 sqft
    2018-07-01 58 days 1,774 sqft
    2018-08-01 61 days 1,754 sqft
    2018-09-01 60 days 1,785 sqft
    2018-10-01 61 days 1,809 sqft
    2018-11-01 62 days 1,830 sqft
    2018-12-01 72 days 1,827 sqft
    2019-01-01 76 days 1,836 sqft
    2019-02-01 72 days 1,841 sqft
    2019-03-01 61 days 1,827 sqft
    2019-04-01 44 days 1,819 sqft
    2019-05-01 39 days 1,844 sqft
    2019-06-01 45 days 1,810 sqft
    2019-07-01 56 days 1,782 sqft
    2019-08-01 59 days 1,792 sqft
    2019-09-01 59 days 1,805 sqft
    2019-10-01 62 days 1,828 sqft
    2019-11-01 65 days 1,840 sqft
    2019-12-01 79 days 1,819 sqft
    2020-01-01 84 days 1,832 sqft
    2020-02-01 60 days 1,819 sqft
    2020-03-01 46 days 1,882 sqft
    2020-04-01 49 days 1,895 sqft
    2020-05-01 49 days 1,924 sqft
    2020-06-01 52 days 1,978 sqft
    2020-07-01 61 days 1,978 sqft
    2020-08-01 52 days 1,908 sqft
    2020-09-01 38 days 1,904 sqft
    2020-10-01 40 days 1,899 sqft
    2020-11-01 46 days 1,897 sqft
    2020-12-01 61 days 1,919 sqft
    2021-01-01 70 days 1,940 sqft
    2021-02-01 33 days 1,901 sqft
    2021-03-01 30 days 1,901 sqft
    2021-04-01 25 days 1,862 sqft
    2021-05-01 21 days 1,906 sqft
    2021-06-01 28 days 1,952 sqft
    2021-07-01 29 days 1,868 sqft
    2021-08-01 36 days 1,865 sqft
    2021-09-01 42 days 1,883 sqft
    2021-10-01 39 days 1,888 sqft
    2021-11-01 41 days 1,854 sqft
    2021-12-01 48 days 1,841 sqft
    2022-01-01 58 days 1,830 sqft
    2022-02-01 36 days 1,839 sqft
    2022-03-01 28 days 1,861 sqft
    2022-04-01 29 days 1,845 sqft
    2022-05-01 35 days 1,828 sqft
    2022-06-01 35 days 1,820 sqft
    2022-07-01 37 days 1,747 sqft
    2022-08-01 50 days 1,761 sqft
    2022-09-01 50 days 1,774 sqft
    2022-10-01 52 days 1,736 sqft
    2022-11-01 63 days 1,736 sqft
    2022-12-01 72 days 1,736 sqft
    2023-01-01 81 days 1,736 sqft
    2023-02-01 71 days 1,736 sqft
    2023-03-01 60 days 1,779 sqft
    2023-04-01 43 days 1,799 sqft
    2023-05-01 36 days 1,753 sqft
    2023-06-01 40 days 1,800 sqft
    2023-07-01 43 days 1,824 sqft
    2023-08-01 50 days 1,856 sqft
    2023-09-01 51 days 1,800 sqft
    2023-10-01 57 days 1,775 sqft
    2023-11-01 65 days 1,780 sqft
    2023-12-01 74 days 1,799 sqft
    2024-01-01 71 days 1,790 sqft
    2024-02-01 54 days 1,781 sqft
    2024-03-01 46 days 1,828 sqft
    Redding's median listing age (time on market) for 2024-03-01 was 46 days. This is -24% shorter than the same period one year ago.

    Redding's median square footage for active listings during the 2024-03-01 period was 1,828 sqft. One year prior, the average listing was 1,779 sqft.