Albemarle Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Albemarle averaged
6.21%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.44% and
one month ago for the week of 2024-10-03, the
average rate was 5.84%.
Albemarle's average rate one year ago was 7.48%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.89%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Albemarle 30 Year Fixed Rate | 2024-11-07 | 6.21% |
| Albemarle 30 Year Fixed Rate Refi | 2024-11-07 | 6.89% |
| Albemarle 15 Year Fixed Rate | 2024-11-07 | 6% |
| Albemarle 15 Year Fixed Rate Refi | 2024-11-07 | 6.1% |
| Albemarle 30 Year FHA | 2024-11-07 | 5.82% |
| Albemarle 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Albemarle 30 Year USDA | 2024-11-07 | 6.58% |
| Albemarle 30 Year USDA Refi | 2024-11-07 | 6.58% |
| Albemarle 30 Year VA | 2024-11-07 | 6.17% |
| Albemarle 30 Year VA Refi | 2024-11-07 | 6.54% |
Albemarle 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 Albemarle, NC 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.).
Albemarle Average Closing Costs & Other Stats
Albemarle, NC's 97 lenders originated 1,916
loans during 2023. The total origination value was $394,830,000, with an average loan value of
$206,070.
Albemarle's average closing costs are $4,884.
The top Albemarle lender as defined by loan originations is STATE EMPLOYEES', with
195 loans originated. Their average total fees are
$4,290, which is $900
higher than the next largest lender,
Uwharrie Bank.
The lowest fee Albemarle lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($498), Uwharrie Bank ($3,389), Pinnacle Bank ($3,997), STATE EMPLOYEES' ($4,290) and Truist ($4,296).
The lowest rate Albemarle lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.55%), STATE EMPLOYEES' (5.93%), LOCAL GOVERNMENT FEDERAL CREDIT UNION (5.99%), Pinnacle Bank (6.33%) and Truist (6.49%).
Albemarle, NC 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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| STATE EMPLOYEES' | $101,710,000 | $69,920,000 | -31.3% | 17.7% |
| MOVEMENT MORTGAGE, LLC | $32,590,000 | $32,870,000 | 0.9% | 8.3% |
| Uwharrie Bank | $44,555,000 | $31,895,000 | -28.4% | 8.1% |
| DHI MORTGAGE COMPANY, LTD. | $27,080,000 | $26,800,000 | -1.0% | 6.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $10,440,000 | $16,285,000 | 56.0% | 4.1% |
| QUICKEN LOANS, LLC | $23,100,000 | $13,775,000 | -40.4% | 3.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $14,430,000 | $12,675,000 | -12.2% | 3.2% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $18,925,000 | $11,670,000 | -38.3% | 3.0% |
| LOANDEPOT.COM, LLC | $12,330,000 | $9,395,000 | -23.8% | 2.4% |
| First-Citizens Bank & Trust Company | $7,075,000 | $9,125,000 | 29.0% | 2.3% |
| Pinnacle Bank | $9,925,000 | $8,655,000 | -12.8% | 2.2% |
| CORNERSTONE HOME LENDING, INC. | $7,030,000 | $8,190,000 | 16.5% | 2.1% |
| Wells Fargo Bank | $6,135,000 | $7,070,000 | 15.2% | 1.8% |
| First Bank | $17,770,000 | $5,880,000 | -66.9% | 1.5% |
| Mortgage Research Center, LLC | $5,440,000 | $5,745,000 | 5.6% | 1.5% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $6,110,000 | $5,360,000 | -12.3% | 1.4% |
| Ameris Bank | $6,140,000 | $4,920,000 | -19.9% | 1.2% |
| Truist | $6,470,000 | $4,815,000 | -25.6% | 1.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $5,570,000 | $4,810,000 | -13.6% | 1.2% |
| American Security Mortgage Corp. | $7,100,000 | $3,595,000 | -49.4% | 0.9% |
| Sound Bank | $3,555,000 | n/a | 0.9% | |
| CARDINAL FINANCIAL | $2,685,000 | $3,335,000 | 24.2% | 0.8% |
| SeaTrust Mortgage Company | $2,085,000 | $3,220,000 | 54.4% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $2,520,000 | $3,115,000 | 23.6% | 0.8% |
| FOUNDERS FEDERAL CREDIT UNION | $2,605,000 | $3,100,000 | 19.0% | 0.8% |
| CMG MORTGAGE, INC. | $215,000 | $2,575,000 | 1,097.7% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $4,050,000 | $2,355,000 | -41.9% | 0.6% |
| ACADEMY MORTGAGE CORPORATION | $205,000 | $2,230,000 | 987.8% | 0.6% |
| AgFirst Farm Credit Bank | $2,225,000 | $2,200,000 | -1.1% | 0.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $3,055,000 | $2,115,000 | -30.8% | 0.5% |
| Northpointe Bank | $1,935,000 | $2,075,000 | 7.2% | 0.5% |
| TD Bank | $270,000 | $2,030,000 | 651.9% | 0.5% |
| Regions Bank | $1,010,000 | $1,875,000 | 85.6% | 0.5% |
| South State Bank | $1,410,000 | $1,875,000 | 33.0% | 0.5% |
| Bank of America | $1,650,000 | $1,700,000 | 3.0% | 0.4% |
| U.S. Bank | $805,000 | $1,660,000 | 106.2% | 0.4% |
| Alcova Mortgage LLC | $4,260,000 | $1,645,000 | -61.4% | 0.4% |
| Flagstar Bank, FSB | $2,685,000 | $1,360,000 | -49.3% | 0.3% |
| First National Bank of Pennsylvania | $2,570,000 | $1,345,000 | -47.7% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,115,000 | $1,310,000 | -38.1% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $3,295,000 | $1,305,000 | -60.4% | 0.3% |
| Atlantic Coast Mortgage, LLC | $1,215,000 | n/a | 0.3% | |
| Fifth Third Bank | $2,790,000 | $1,175,000 | -57.9% | 0.3% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $195,000 | $1,120,000 | 474.4% | 0.3% |
| LIMA ONE CAPITAL, LLC | $1,095,000 | n/a | 0.3% | |
| GUILD MORTGAGE COMPANY | $1,035,000 | $1,080,000 | 4.3% | 0.3% |
| GUARANTEED RATE, INC. | $2,095,000 | $1,075,000 | -48.7% | 0.3% |
| Truliant Federal Credit Union | $1,905,000 | $1,020,000 | -46.5% | 0.3% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $695,000 | $1,005,000 | 44.6% | 0.3% |
| TJC Mortgage, Inc. | $1,065,000 | $995,000 | -6.6% | 0.3% |
| Carrington Mortgage Services, LLC | $1,245,000 | $980,000 | -21.3% | 0.2% |
| GUARANTEED RATE AFFINITY, LLC | $970,000 | n/a | 0.2% | |
| LATINO COMMUNITY CREDIT UNION | $435,000 | $965,000 | 121.8% | 0.2% |
| NEW DAY FINANCIAL, LLC | $810,000 | $940,000 | 16.0% | 0.2% |
| BROKER SOLUTIONS, INC. | $2,110,000 | $920,000 | -56.4% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $885,000 | n/a | 0.2% | |
| NEWREZ LLC | $620,000 | $880,000 | 41.9% | 0.2% |
| First Federal Bank | $500,000 | $825,000 | 65.0% | 0.2% |
| CHARLOTTE METRO FEDERAL CREDIT UNION | $860,000 | $820,000 | -4.7% | 0.2% |
| FBC MORTGAGE, LLC | $570,000 | $805,000 | 41.2% | 0.2% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $225,000 | $795,000 | 253.3% | 0.2% |
| INTERCOASTAL MORTGAGE COMPANY | $1,740,000 | $710,000 | -59.2% | 0.2% |
| Prosperity Home Mortgage, LLC | $645,000 | n/a | 0.2% | |
| Blue Ridge Bank | $135,000 | $640,000 | 374.1% | 0.2% |
| EVERETT FINANCIAL, INC. | $430,000 | $635,000 | 47.7% | 0.2% |
| T2 FINANCIAL LLC | $275,000 | $635,000 | 130.9% | 0.2% |
| Towne Bank | $2,725,000 | $630,000 | -76.9% | 0.2% |
| ZILLOW HOME LOANS, LLC | $355,000 | $625,000 | 76.1% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $415,000 | $595,000 | 43.4% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $2,915,000 | $585,000 | -79.9% | 0.1% |
| Equity Prime Mortgage LLC | $260,000 | $580,000 | 123.1% | 0.1% |
| NexBank | $565,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,485,000 | $560,000 | -62.3% | 0.1% |
| JPMorgan Chase Bank | $800,000 | $555,000 | -30.6% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $325,000 | $540,000 | 66.2% | 0.1% |
| Farmers & Merchants Bank | $530,000 | n/a | 0.1% | |
| TOP FLITE FINANCIAL, INC. | $390,000 | $530,000 | 35.9% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $1,185,000 | $515,000 | -56.5% | 0.1% |
| The Fidelity Bank | $95,000 | $510,000 | 436.8% | 0.1% |
| American National Bank and Trust Company | $485,000 | n/a | 0.1% | |
| CONTOUR MORTGAGE CORPORATION | $485,000 | n/a | 0.1% | |
| Deere Employees Credit Union | $85,000 | $485,000 | 470.6% | 0.1% |
| COASTAL Federal Credit Union | $1,325,000 | $475,000 | -64.2% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $265,000 | $460,000 | 73.6% | 0.1% |
| UNION HOME MORTGAGE CORP. | $505,000 | $460,000 | -8.9% | 0.1% |
| North American Savings Bank, F.S.B. | $455,000 | n/a | 0.1% | |
| PLAZA HOME MORTGAGE, INC. | $325,000 | $450,000 | 38.5% | 0.1% |
| Warsaw Federal Savings and Loan Association | $450,000 | n/a | 0.1% | |
| RAPID MORTGAGE COMPANY | $1,310,000 | $440,000 | -66.4% | 0.1% |
| RESOURCE FINANCIAL SERVICES, INC. | $435,000 | n/a | 0.1% | |
| Discover Bank | $565,000 | $420,000 | -25.7% | 0.1% |
| Carter Bank & Trust | $415,000 | n/a | 0.1% | |
| HOMESTAR FINANCIAL CORPORATION | $405,000 | n/a | 0.1% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $945,000 | $405,000 | -57.1% | 0.1% |
| PNC Bank | $365,000 | $380,000 | 4.1% | 0.1% |
| A&D Mortgage LLC | $375,000 | n/a | 0.1% | |
| C & F Mortgage Corporation | $225,000 | $375,000 | 66.7% | 0.1% |
| USAA Federal Savings Bank | $795,000 | $375,000 | -52.8% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $105,000 | $370,000 | 252.4% | 0.1% |
| Renasant Bank | $670,000 | $365,000 | -45.5% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $595,000 | $360,000 | -39.5% | 0.1% |
| Magnolia Bank | $185,000 | $345,000 | 86.5% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $340,000 | n/a | 0.1% | |
| BAY EQUITY LLC | $335,000 | n/a | 0.1% | |
| Nations Lending Corporation | $880,000 | $325,000 | -63.1% | 0.1% |
| OPEN MORTGAGE, LLC | $325,000 | n/a | 0.1% | |
| Encompass Lending Group, LP | $305,000 | n/a | 0.1% | |
| Mid-Continent Funding, Inc. | $300,000 | n/a | 0.1% | |
| NBKC BANK | $345,000 | $295,000 | -14.5% | 0.1% |
| VERITAS FUNDING, LLC | $295,000 | n/a | 0.1% | |
| Ixonia Bank | $155,000 | $285,000 | 83.9% | 0.1% |
| Peoples Bank | $385,000 | $285,000 | -26.0% | 0.1% |
| Citizens Bank | $800,000 | $280,000 | -65.0% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $275,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $260,000 | $275,000 | 5.8% | 0.1% |
| SELF-HELP Credit Union | $275,000 | n/a | 0.1% | |
| United Bank | $2,805,000 | $265,000 | -90.6% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $260,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $330,000 | $260,000 | -21.2% | 0.1% |
| Bank of England | $255,000 | n/a | 0.1% | |
| FORT FINANCIAL Federal Credit Union | $485,000 | $255,000 | -47.4% | 0.1% |
| COMMUNITYAMERICA | $245,000 | n/a | 0.1% | |
| FIDELITY DIRECT MORTGAGE, LLC | $245,000 | n/a | 0.1% | |
| Towne Mortgage of the Carolinas, LLC | $240,000 | n/a | 0.1% | |
| Citadel Servicing Corporation | $135,000 | $235,000 | 74.1% | 0.1% |
| CLEARPATH LENDING | $205,000 | $235,000 | 14.6% | 0.1% |
| CORNING | $15,000 | $235,000 | 1,466.7% | 0.1% |
| First Reliance Bank | $560,000 | $235,000 | -58.0% | 0.1% |
| Integrity Home Mortgage Corp | $235,000 | n/a | 0.1% | |
| Gateway First Bank | $1,245,000 | $230,000 | -81.5% | 0.1% |
| Figure Lending LLC | $265,000 | $225,000 | -15.1% | 0.1% |
| The Federal Savings Bank | $285,000 | $225,000 | -21.1% | 0.1% |
| The Loan Store, Inc. | $225,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $590,000 | $215,000 | -63.6% | 0.1% |
| Mortgage Assurance Inc. | $215,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $400,000 | $205,000 | -48.8% | 0.1% |
| CAPITAL CENTER, L.L.C. | $815,000 | $205,000 | -74.8% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $165,000 | $205,000 | 24.2% | 0.1% |
| DIRECT MORTGAGE LOANS, LLC | $205,000 | n/a | 0.1% | |
| Wolfe Financial, Inc | $225,000 | $205,000 | -8.9% | 0.1% |
| BETTER MORTGAGE CORPORATION | $980,000 | $195,000 | -80.1% | 0.0% |
| BMO Harris Bank | $195,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $475,000 | $195,000 | -58.9% | 0.0% |
| MICHIGAN MUTUAL, INC. | $565,000 | $195,000 | -65.5% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $185,000 | n/a | 0.0% | |
| Commerce Home Mortgage, Inc. | $185,000 | n/a | 0.0% | |
| M&T Bank | $155,000 | $175,000 | 12.9% | 0.0% |
| MTC Federal Credit Union | $170,000 | n/a | 0.0% | |
| Allen Tate Mortgage Partners, LLC | $635,000 | $165,000 | -74.0% | 0.0% |
| Southern Bank and Trust Company | $165,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $260,000 | $160,000 | -38.5% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $460,000 | $155,000 | -66.3% | 0.0% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $155,000 | n/a | 0.0% | |
| LEGEND LENDING CORPORATION | $265,000 | $150,000 | -43.4% | 0.0% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $530,000 | $145,000 | -72.6% | 0.0% |
| EQUITY RESOURCES, INC. | $135,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,355,000 | $135,000 | -90.0% | 0.0% |
| ARC HOME LLC | $125,000 | n/a | 0.0% | |
| McKenzie Banking Company | $125,000 | n/a | 0.0% | |
| AgSouth Farm Credit, ACA | $115,000 | n/a | 0.0% | |
| Gulf Coast Bank and Trust Company | $115,000 | n/a | 0.0% | |
| Plains Commerce Bank | $225,000 | $115,000 | -48.9% | 0.0% |
| HOMEXPRESS MORTGAGE CORP. | $265,000 | $105,000 | -60.4% | 0.0% |
| FINANCE OF AMERICA MORTGAGE LLC | $620,000 | $95,000 | -84.7% | 0.0% |
| 21ST MORTGAGE CORPORATION | $75,000 | n/a | 0.0% | |
| COUNTRYPLACE MORTGAGE, LTD. | $75,000 | n/a | 0.0% | |
| PREMIER LENDING, INC. | $365,000 | $75,000 | -79.5% | 0.0% |
| American Airlines Federal Credit Union | $55,000 | n/a | 0.0% | |
| LOANPAL, LLC | $195,000 | $55,000 | -71.8% | 0.0% |
| SPRING EQ, LLC | $160,000 | $55,000 | -65.6% | 0.0% |
| ALLEGACY FEDERAL CREDIT UNION | $275,000 | $25,000 | -90.9% | 0.0% |
| Home Loan Investment Bank, F.S.B. | $15,000 | $15,000 | 0.0% | 0.0% |
Albemarle's top lender by overall market share is STATE EMPLOYEES', with 17.7% market share. In second place, with 8.3%, is MOVEMENT MORTGAGE, LLC, having originated $32,870,000 in loans. In third place, with 8.1%, is Uwharrie Bank, having originated $31,895,000 in loans. In fourth place, with 6.8%, is DHI MORTGAGE COMPANY, LTD., having originated $26,800,000 in loans. In fifth place, with 4.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $16,285,000 in loans.
Albemarle, NC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,122 | $305,560,000 | $272,335 |
| Home Improvement | 238 | $19,040,000 | $80,000 |
| Other | 226 | $19,260,000 | $85,221 |
| Refi | 185 | $25,965,000 | $140,351 |
| Cash Out Refi | 145 | $25,005,000 | $172,448 |
Albemarle's most frequently cited loan purpose was Home Purchase, with 1,122 originations. The 2nd most popular reason was Home Improvement, with 238 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 573 | $144,415,000 | $252,033 |
| 7-8% | 452 | $83,420,000 | $184,558 |
| 5-6% | 396 | $107,290,000 | $270,934 |
| Over 8% | 239 | $26,355,000 | $110,272 |
| 4-5% | 216 | $27,810,000 | $128,750 |
| <2.5% | 13 | $155,000 | $11,923 |
| 3-4% | 1 | $495,000 | $495,000 |
| 2.5-3% | 1 | $255,000 | $255,000 |
During 2023, Albemarle's most frequently originated rate bucket was 6-7%, with 573 originations.
Loan Sizing (Albemarle, NC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 804 | $229,270,000 | $285,162 |
| $100,000 or less | 531 | $28,505,000 | $53,682 |
| $100k-200k | 453 | $67,195,000 | $148,333 |
| $400k-600k | 105 | $48,055,000 | $457,667 |
| $600k-1000k | 17 | $12,175,000 | $716,176 |
| $Over $1MM | 6 | $9,630,000 | $1,605,000 |
Albemarle's loan sizing saw the bucket of loans from $200k-400k with 804 originations, totaling $229,270,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 798 | $230,060,000 | $288,296 |
| Under 20% | 317 | $14,845,000 | $46,830 |
| 60-80% | 300 | $72,540,000 | $241,800 |
| 20-40% | 263 | $26,585,000 | $101,084 |
| 40-60% | 180 | $33,530,000 | $186,278 |
| Over 100% | 42 | $11,590,000 | $275,952 |
Albemarle's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 798 originations, totaling $230,060,000 in origination value.