DETROIT - DEARBORN - LIVONIA Mortgage Rates & Closing Costs
30yr Fixed Rate
15yr Fixed Rate
FHA
USDA
VA
5/1 ARM
30 Year Fixed Rate mortgages in Detroit - Dearborn - Livonia averaged
7.67%
for the week of 2023-10-12, compared to the national average of
7.57% for the same period.
The average rate for the prior week (2023-10-05) was
7.49% and
one month ago for the week of 2023-09-07, the
average rate was 7.42%.
Detroit - Dearborn - Livonia's average rate one year ago was 6.76%.
For refis of the same type during the week of 2023-10-12, the average rate
was 7.97%.
Loan Type |
Date |
Rate |
US 30 Year Fixed Rate |
2023-10-12 |
7.57% |
Detroit - Dearborn - Livonia 30 Year Fixed Rate |
2023-10-12 |
7.67% |
Detroit - Dearborn - Livonia 30 Year Fixed Rate Refi |
2023-10-12 |
7.97% |
Detroit - Dearborn - Livonia 15 Year Fixed Rate |
2023-10-12 |
6.69% |
Detroit - Dearborn - Livonia 15 Year Fixed Rate Refi |
2023-10-12 |
6.99% |
Detroit - Dearborn - Livonia 30 Year FHA |
2023-10-12 |
0.3% |
Detroit - Dearborn - Livonia 30 Year FHA Refi |
2023-10-12 |
0.1% |
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within DETROIT-DEARBORN-LIVONIA, MI.
DETROIT - DEARBORN - LIVONIA Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the DETROIT-DEARBORN-LIVONIA, MI market. This
includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Name |
# of Loans |
2022 Avg. 30yFix Rate |
2022 Avg. Closing Costs |
DETROIT-DEARBORN-LIVONIA, MI Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that
larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
Name |
2021 Loan Value |
2022 Loan Value |
% Change |
2022 Market Share |
DETROIT - DEARBORN - LIVONIA Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - DETROIT - DEARBORN - LIVONIA (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 |
$199,900 (7.3%) |
$309,546 (5.2%) |
0.74 |
9,945 |
2018-02-01 |
$206,000 (7.1%) |
$318,858 (6.5%) |
0.75 |
9,275 |
2018-03-01 |
$224,900 (5.9%) |
$338,000 (8.2%) |
0.79 |
9,086 |
2018-04-01 |
$242,450 (7.8%) |
$343,562 (5.1%) |
0.82 |
9,495 |
2018-05-01 |
$249,900 (6.6%) |
$348,825 (3.2%) |
0.83 |
10,501 |
2018-06-01 |
$253,650 (7.7%) |
$353,504 (3.9%) |
0.85 |
11,786 |
2018-07-01 |
$249,900 (6.3%) |
$346,143 (2.7%) |
0.83 |
12,984 |
2018-08-01 |
$244,950 (8.1%) |
$336,232 (2.9%) |
0.82 |
14,307 |
2018-09-01 |
$239,900 (6.6%) |
$334,464 (2.9%) |
0.81 |
14,962 |
2018-10-01 |
$231,215 (4.4%) |
$326,470 (1.2%) |
0.78 |
14,886 |
2018-11-01 |
$225,000 (4.1%) |
$318,710 (0.1%) |
0.76 |
14,433 |
2018-12-01 |
$219,900 (4.8%) |
$314,557 (-0.2%) |
0.76 |
13,258 |
2019-01-01 |
$218,750 (9.4%) |
$313,385 (1.2%) |
0.76 |
12,165 |
2019-02-01 |
$219,950 (6.8%) |
$317,091 (-0.6%) |
0.74 |
11,497 |
2019-03-01 |
$232,814 (3.5%) |
$329,689 (-2.5%) |
0.76 |
11,352 |
2019-04-01 |
$250,300 (3.2%) |
$345,409 (0.5%) |
0.79 |
11,490 |
2019-05-01 |
$259,900 (4.0%) |
$351,987 (0.9%) |
0.81 |
12,361 |
2019-06-01 |
$262,000 (3.3%) |
$350,206 (-0.9%) |
0.82 |
13,710 |
2019-07-01 |
$259,900 (4.0%) |
$344,093 (-0.6%) |
0.81 |
14,992 |
2019-08-01 |
$253,355 (3.4%) |
$337,148 (0.3%) |
0.80 |
15,527 |
2019-09-01 |
$243,536 (1.5%) |
$328,224 (-1.9%) |
0.78 |
15,830 |
2019-10-01 |
$236,991 (2.5%) |
$321,800 (-1.4%) |
0.76 |
15,906 |
2019-11-01 |
$229,900 (2.2%) |
$317,760 (-0.3%) |
0.75 |
14,872 |
2019-12-01 |
$224,900 (2.3%) |
$311,261 (-1.1%) |
0.75 |
13,036 |
2020-01-01 |
$219,950 (0.6%) |
$310,507 (-0.9%) |
0.74 |
11,630 |
2020-02-01 |
$222,500 (1.2%) |
$315,613 (-0.5%) |
0.73 |
10,735 |
2020-03-01 |
$237,950 (2.2%) |
$329,652 (0.0%) |
0.75 |
10,381 |
2020-04-01 |
$244,018 (-2.5%) |
$333,355 (-3.5%) |
0.76 |
9,897 |
2020-05-01 |
$249,900 (-3.9%) |
$338,721 (-3.8%) |
0.76 |
10,720 |
2020-06-01 |
$272,450 (4.0%) |
$365,198 (4.3%) |
0.80 |
10,261 |
2020-07-01 |
$278,000 (7.0%) |
$374,371 (8.8%) |
0.81 |
9,828 |
2020-08-01 |
$274,900 (8.5%) |
$373,948 (10.9%) |
0.79 |
9,307 |
2020-09-01 |
$269,950 (10.9%) |
$373,482 (13.8%) |
0.77 |
8,987 |
2020-10-01 |
$264,900 (11.8%) |
$373,821 (16.2%) |
0.76 |
8,479 |
2020-11-01 |
$254,950 (10.9%) |
$373,390 (17.5%) |
0.75 |
7,673 |
2020-12-01 |
$249,900 (11.1%) |
$370,777 (19.1%) |
0.74 |
6,750 |
2021-01-01 |
$249,900 (13.6%) |
$372,913 (20.1%) |
0.75 |
5,686 |
2021-02-01 |
$250,000 (12.4%) |
$388,653 (23.1%) |
0.73 |
4,727 |
2021-03-01 |
$266,138 (11.9%) |
$398,112 (20.8%) |
0.76 |
4,597 |
2021-04-01 |
$269,950 (10.6%) |
$405,925 (21.8%) |
0.73 |
4,725 |
2021-05-01 |
$279,900 (12.0%) |
$409,975 (21.0%) |
0.74 |
5,267 |
2021-06-01 |
$276,575 (1.5%) |
$396,675 (8.6%) |
0.73 |
6,498 |
2021-07-01 |
$275,000 (-1.1%) |
$391,506 (4.6%) |
0.73 |
7,192 |
2021-08-01 |
$267,400 (-2.7%) |
$383,727 (2.6%) |
0.71 |
7,991 |
2021-09-01 |
$249,950 (-7.4%) |
$370,605 (-0.8%) |
0.67 |
8,195 |
2021-10-01 |
$242,990 (-8.3%) |
$360,143 (-3.7%) |
0.65 |
7,880 |
2021-11-01 |
$227,450 (-10.8%) |
$348,427 (-6.7%) |
0.61 |
7,274 |
2021-12-01 |
$216,950 (-13.2%) |
$345,719 (-6.8%) |
0.59 |
6,293 |
2022-01-01 |
$205,000 (-18.0%) |
$341,406 (-8.5%) |
0.55 |
5,189 |
2022-02-01 |
$216,100 (-13.6%) |
$354,219 (-8.9%) |
0.56 |
4,626 |
2022-03-01 |
$227,450 (-14.5%) |
$360,375 (-9.5%) |
0.57 |
4,771 |
2022-04-01 |
$249,900 (-7.4%) |
$376,980 (-7.1%) |
0.60 |
5,012 |
2022-05-01 |
$274,000 (-2.1%) |
$384,646 (-6.2%) |
0.63 |
6,342 |
2022-06-01 |
$279,950 (1.2%) |
$388,407 (-2.1%) |
0.62 |
7,666 |
2022-07-01 |
$279,900 (1.8%) |
$381,926 (-2.5%) |
0.63 |
9,283 |
2022-08-01 |
$272,350 (1.9%) |
$370,524 (-3.4%) |
0.63 |
9,869 |
2022-09-01 |
$263,908 (5.6%) |
$366,211 (-1.2%) |
0.62 |
9,756 |
2022-10-01 |
$250,000 (2.9%) |
$355,640 (-1.3%) |
0.59 |
9,857 |
2022-11-01 |
$247,000 (8.6%) |
$347,750 (-0.2%) |
0.59 |
9,743 |
2022-12-01 |
$230,000 (6.0%) |
$341,684 (-1.2%) |
0.57 |
8,673 |
2023-01-01 |
$227,250 (10.9%) |
$343,293 (0.6%) |
0.56 |
7,432 |
2023-02-01 |
$229,450 (6.2%) |
$347,618 (-1.9%) |
0.55 |
6,513 |
2023-03-01 |
$236,950 (4.2%) |
$362,607 (0.6%) |
0.56 |
5,939 |
2023-04-01 |
$250,000 (0.0%) |
$384,503 (2.0%) |
0.58 |
5,886 |
2023-05-01 |
$267,450 (-2.4%) |
$399,483 (3.9%) |
0.61 |
6,033 |
2023-06-01 |
$270,000 (-3.6%) |
$402,237 (3.6%) |
0.61 |
6,447 |
2023-07-01 |
$269,000 (-3.9%) |
$393,640 (3.1%) |
0.61 |
6,991 |
2023-08-01 |
$272,400 (0.0%) |
$389,930 (5.2%) |
0.63 |
7,448 |
2023-09-01 |
$262,000 (-0.7%) |
$386,050 (5.4%) |
0.61 |
7,660 |
DETROIT - DEARBORN - LIVONIA's median listing price for 2023-09-01 was $262,000, a difference of
$-1,908
(-0.7%) versus the prior year and
$-10,400 versus the prior month.
DETROIT - DEARBORN - LIVONIA's median listing price comes in at 61% of the national average.
DETROIT - DEARBORN - LIVONIA's average listing price for 2023-09-01 was $386,050, a difference of
$19,839
(5.4%) versus the prior year and
$-3,880 versus the prior month.
For the 2023-09-01 period, DETROIT - DEARBORN - LIVONIA had 7,660 MLS listings, a difference of
212 listings
(3%)
versus the prior month and
-2,096 listings
(-21%)
versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - DETROIT - DEARBORN - LIVONIA (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date |
Median Listing Time on Market |
Median Square Footage |
2018-01-01 |
63 days |
1,578 sqft |
2018-02-01 |
58 days |
1,582 sqft |
2018-03-01 |
45 days |
1,644 sqft |
2018-04-01 |
36 days |
1,686 sqft |
2018-05-01 |
33 days |
1,713 sqft |
2018-06-01 |
33 days |
1,734 sqft |
2018-07-01 |
36 days |
1,723 sqft |
2018-08-01 |
35 days |
1,700 sqft |
2018-09-01 |
40 days |
1,692 sqft |
2018-10-01 |
43 days |
1,642 sqft |
2018-11-01 |
46 days |
1,613 sqft |
2018-12-01 |
56 days |
1,585 sqft |
2019-01-01 |
61 days |
1,582 sqft |
2019-02-01 |
60 days |
1,596 sqft |
2019-03-01 |
45 days |
1,632 sqft |
2019-04-01 |
36 days |
1,684 sqft |
2019-05-01 |
34 days |
1,717 sqft |
2019-06-01 |
36 days |
1,728 sqft |
2019-07-01 |
37 days |
1,724 sqft |
2019-08-01 |
40 days |
1,706 sqft |
2019-09-01 |
43 days |
1,675 sqft |
2019-10-01 |
45 days |
1,651 sqft |
2019-11-01 |
51 days |
1,624 sqft |
2019-12-01 |
62 days |
1,598 sqft |
2020-01-01 |
69 days |
1,584 sqft |
2020-02-01 |
58 days |
1,586 sqft |
2020-03-01 |
47 days |
1,605 sqft |
2020-04-01 |
59 days |
1,620 sqft |
2020-05-01 |
65 days |
1,640 sqft |
2020-06-01 |
37 days |
1,725 sqft |
2020-07-01 |
37 days |
1,740 sqft |
2020-08-01 |
33 days |
1,710 sqft |
2020-09-01 |
35 days |
1,669 sqft |
2020-10-01 |
36 days |
1,641 sqft |
2020-11-01 |
40 days |
1,600 sqft |
2020-12-01 |
48 days |
1,576 sqft |
2021-01-01 |
51 days |
1,557 sqft |
2021-02-01 |
39 days |
1,562 sqft |
2021-03-01 |
28 days |
1,577 sqft |
2021-04-01 |
22 days |
1,595 sqft |
2021-05-01 |
18 days |
1,604 sqft |
2021-06-01 |
19 days |
1,600 sqft |
2021-07-01 |
22 days |
1,590 sqft |
2021-08-01 |
24 days |
1,558 sqft |
2021-09-01 |
30 days |
1,514 sqft |
2021-10-01 |
31 days |
1,493 sqft |
2021-11-01 |
36 days |
1,450 sqft |
2021-12-01 |
43 days |
1,420 sqft |
2022-01-01 |
52 days |
1,406 sqft |
2022-02-01 |
34 days |
1,416 sqft |
2022-03-01 |
25 days |
1,441 sqft |
2022-04-01 |
22 days |
1,486 sqft |
2022-05-01 |
20 days |
1,537 sqft |
2022-06-01 |
23 days |
1,559 sqft |
2022-07-01 |
28 days |
1,551 sqft |
2022-08-01 |
32 days |
1,532 sqft |
2022-09-01 |
39 days |
1,522 sqft |
2022-10-01 |
39 days |
1,500 sqft |
2022-11-01 |
43 days |
1,484 sqft |
2022-12-01 |
52 days |
1,454 sqft |
2023-01-01 |
62 days |
1,444 sqft |
2023-02-01 |
55 days |
1,457 sqft |
2023-03-01 |
46 days |
1,473 sqft |
2023-04-01 |
37 days |
1,508 sqft |
2023-05-01 |
30 days |
1,531 sqft |
2023-06-01 |
31 days |
1,536 sqft |
2023-07-01 |
32 days |
1,532 sqft |
2023-08-01 |
36 days |
1,523 sqft |
2023-09-01 |
40 days |
1,508 sqft |
DETROIT - DEARBORN - LIVONIA's median listing age (time on market) for 2023-09-01 was 40 days.
This
is 3%
longer
than the same period one year ago.
DETROIT - DEARBORN - LIVONIA's median square footage for active listings during the 2023-09-01 period was
1,508 sqft. One year prior, the average listing was
1,522 sqft.
DETROIT-DEARBORN-LIVONIA, MI Market Loan Reason
Loan Purpose |
Originations |
Total Value |
Average Loan |
Interest Rate Frequencies
Loan Rate |
Originations |
Total Value |
Average Loan |
Loan Sizing (DETROIT-DEARBORN-LIVONIA, MI MSA)
Loan Size |
Originations |
Total Value |
Average Loan |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |