Barre Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Barre averaged
6.3%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6% and
one month ago for the week of 2024-09-05, the
average rate was 6.03%.
Barre's average rate one year ago was 7.47%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.52%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Barre 30 Year Fixed Rate | 2024-10-10 | 6.3% |
| Barre 30 Year Fixed Rate Refi | 2024-10-10 | 6.52% |
| Barre 15 Year Fixed Rate | 2024-10-10 | 5.51% |
| Barre 15 Year Fixed Rate Refi | 2024-10-10 | 5.31% |
| Barre 30 Year FHA | 2024-10-10 | 6.3% |
| Barre 30 Year FHA Refi | 2024-10-10 | 5.9% |
| Barre 30 Year USDA | 2024-10-10 | 6.28% |
| Barre 30 Year USDA Refi | 2024-10-10 | 6.08% |
| Barre 30 Year VA | 2024-10-10 | 5.85% |
| Barre 30 Year VA Refi | 2024-10-10 | 5.65% |
Barre 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 Barre, VT 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.).
Barre Average Closing Costs & Other Stats
Barre, VT's 65 lenders originated 1,067
loans during 2023. The total origination value was $230,015,000, with an average loan value of
$215,572.
Barre's average closing costs are $4,605.
The top Barre lender as defined by loan originations is NEW ENGLAND FEDERAL CREDIT UNION, with
64 loans originated. Their average total fees are
$4,017, which is $1,878
lower than the next largest lender,
NORTHEAST HOME LOAN, LLC.
The lowest fee Barre lenders (with over 10 loans originated) are
NORTH COUNTRY ($3,378), Northfield Savings Bank ($3,930), NEW ENGLAND FEDERAL CREDIT UNION ($4,017), Vermont Federal Credit Union ($4,135) and Union Bank ($4,153).
The lowest rate Barre lenders (with over 10 loans originated) are
Northfield Savings Bank (6.34%), Vermont Federal Credit Union (6.37%), NEW ENGLAND FEDERAL CREDIT UNION (6.57%), Union Bank (6.63%) and NORTHEAST HOME LOAN, LLC (6.72%).
Barre, VT 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 |
|---|---|---|---|---|
| NEW ENGLAND FEDERAL CREDIT UNION | $32,790,000 | $35,295,000 | 7.6% | 15.3% |
| Northfield Savings Bank | $34,260,000 | $23,760,000 | -30.6% | 10.3% |
| NORTHEAST HOME LOAN, LLC | $13,200,000 | $18,570,000 | 40.7% | 8.1% |
| Union Bank | $12,310,000 | $13,205,000 | 7.3% | 5.7% |
| NORTH COUNTRY | $27,805,000 | $11,385,000 | -59.1% | 4.9% |
| QUICKEN LOANS, LLC | $23,210,000 | $10,405,000 | -55.2% | 4.5% |
| Community National Bank | $12,170,000 | $9,325,000 | -23.4% | 4.1% |
| Mascoma Bank | $7,465,000 | $6,625,000 | -11.3% | 2.9% |
| Vermont Federal Credit Union | $5,620,000 | $6,495,000 | 15.6% | 2.8% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $8,755,000 | $5,950,000 | -32.0% | 2.6% |
| ACADEMY MORTGAGE CORPORATION | $5,685,000 | $5,850,000 | 2.9% | 2.5% |
| Citizens Bank | $11,110,000 | $4,775,000 | -57.0% | 2.1% |
| TD Bank | $18,390,000 | $4,290,000 | -76.7% | 1.9% |
| CMG MORTGAGE, INC. | $3,920,000 | n/a | 1.7% | |
| Community Bank | $5,150,000 | $3,770,000 | -26.8% | 1.6% |
| PENNYMAC LOAN SERVICES, LLC | $3,970,000 | $3,480,000 | -12.3% | 1.5% |
| EMM LOANS LLC | $700,000 | $3,285,000 | 369.3% | 1.4% |
| Mortgage Research Center, LLC | $4,270,000 | $3,245,000 | -24.0% | 1.4% |
| American Mortgage & Equity Consultants, Inc. | $3,085,000 | n/a | 1.3% | |
| Goldman Sachs Bank USA | $505,000 | $3,005,000 | 495.0% | 1.3% |
| MOVEMENT MORTGAGE, LLC | $4,290,000 | $2,995,000 | -30.2% | 1.3% |
| The National Bank of Middlebury | $5,660,000 | $2,600,000 | -54.1% | 1.1% |
| AMERISAVE MORTGAGE CORPORATION | $1,335,000 | $2,260,000 | 69.3% | 1.0% |
| JPMorgan Chase Bank | $8,230,000 | $2,210,000 | -73.1% | 1.0% |
| KeyBank | $2,780,000 | $1,890,000 | -32.0% | 0.8% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $700,000 | $1,890,000 | 170.0% | 0.8% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $11,125,000 | $1,845,000 | -83.4% | 0.8% |
| Morgan Stanley Private Bank | $1,075,000 | $1,805,000 | 67.9% | 0.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,340,000 | $1,450,000 | -56.6% | 0.6% |
| First-Citizens Bank & Trust Company | $1,405,000 | n/a | 0.6% | |
| LOANDEPOT.COM, LLC | $3,290,000 | $1,390,000 | -57.8% | 0.6% |
| USAA Federal Savings Bank | $1,165,000 | $1,195,000 | 2.6% | 0.5% |
| Bank of America | $2,795,000 | $1,190,000 | -57.4% | 0.5% |
| HARBORONE MORTGAGE, LLC | $1,125,000 | n/a | 0.5% | |
| M&T Bank | $2,855,000 | $1,005,000 | -64.8% | 0.4% |
| Webster Bank | $1,005,000 | n/a | 0.4% | |
| GUARANTEED RATE, INC. | $1,430,000 | $955,000 | -33.2% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,050,000 | $925,000 | -11.9% | 0.4% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $245,000 | $905,000 | 269.4% | 0.4% |
| Farm Credit East, ACA | $165,000 | $830,000 | 403.0% | 0.4% |
| Carrington Mortgage Services, LLC | $965,000 | $805,000 | -16.6% | 0.3% |
| Peoples Trust Company of St. Albans | $765,000 | n/a | 0.3% | |
| Advisors Mortgage Group, L.L.C. | $245,000 | $725,000 | 195.9% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,445,000 | $725,000 | -70.3% | 0.3% |
| Landmark National Bank | $705,000 | n/a | 0.3% | |
| RELIANCE FIRST CAPITAL, LLC | $430,000 | $650,000 | 51.2% | 0.3% |
| ONE Credit Union | $750,000 | $645,000 | -14.0% | 0.3% |
| Leader Bank | $1,175,000 | $640,000 | -45.5% | 0.3% |
| U.S. Bank | $2,170,000 | $615,000 | -71.7% | 0.3% |
| Citibank | $1,165,000 | $605,000 | -48.1% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $1,045,000 | $590,000 | -43.5% | 0.3% |
| BETTER MORTGAGE CORPORATION | $905,000 | $585,000 | -35.4% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,275,000 | $570,000 | -55.3% | 0.2% |
| DRAPER AND KRAMER MORTGAGE CORP. | $3,445,000 | $560,000 | -83.7% | 0.2% |
| Farmers Bank & Trust | $525,000 | n/a | 0.2% | |
| HOMESTEAD FUNDING CORP. | $385,000 | $465,000 | 20.8% | 0.2% |
| Navigant Credit Union | $660,000 | $465,000 | -29.5% | 0.2% |
| First Savings Bank | $435,000 | n/a | 0.2% | |
| NBKC BANK | $205,000 | $420,000 | 104.9% | 0.2% |
| BNC National Bank | $820,000 | $410,000 | -50.0% | 0.2% |
| NEWREZ LLC | $510,000 | $385,000 | -24.5% | 0.2% |
| PNC Bank | $835,000 | $360,000 | -56.9% | 0.2% |
| Farmers and Merchants Union Bank | $355,000 | n/a | 0.2% | |
| MEMBERS MORTGAGE COMPANY, INC. | $355,000 | n/a | 0.2% | |
| GEORGIA'S OWN | $345,000 | n/a | 0.1% | |
| CROSSCOUNTRY MORTGAGE, LLC | $510,000 | $335,000 | -34.3% | 0.1% |
| HARVARD UNIVERSITY EMPLOYEES | $35,000 | $335,000 | 857.1% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $760,000 | $315,000 | -58.6% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $1,410,000 | $310,000 | -78.0% | 0.1% |
| DEEPHAVEN MORTGAGE LLC | $285,000 | n/a | 0.1% | |
| MEMBERS ADVANTAGE COMMUNITY CREDIT UNION | $145,000 | $275,000 | 89.7% | 0.1% |
| NBT Bank | $1,000,000 | $255,000 | -74.5% | 0.1% |
| Bar Harbor Bank & Trust | $720,000 | $245,000 | -66.0% | 0.1% |
| NexBank | $245,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $245,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $980,000 | $225,000 | -77.0% | 0.1% |
| Discover Bank | $65,000 | $220,000 | 238.5% | 0.1% |
| Ally Bank | $285,000 | $215,000 | -24.6% | 0.1% |
| CARDINAL FINANCIAL | $1,100,000 | $185,000 | -83.2% | 0.1% |
| LEADERONE FINANCIAL CORPORATION | $155,000 | $185,000 | 19.4% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $175,000 | n/a | 0.1% | |
| ADVANCIAL | $155,000 | n/a | 0.1% | |
| Service Federal Credit Union | $155,000 | n/a | 0.1% | |
| 21ST MORTGAGE CORPORATION | $430,000 | $125,000 | -70.9% | 0.1% |
| HANSCOM | $105,000 | n/a | 0.0% | |
| Figure Lending LLC | $115,000 | $80,000 | -30.4% | 0.0% |
| MEMBER FIRST MORTGAGE, LLC | $75,000 | n/a | 0.0% | |
| NORTHEAST CREDIT UNION | $75,000 | n/a | 0.0% | |
| The Federal Savings Bank | $245,000 | $65,000 | -73.5% | 0.0% |
| DIGITAL Federal Credit Union | $275,000 | $55,000 | -80.0% | 0.0% |
Barre's top lender by overall market share is NEW ENGLAND FEDERAL CREDIT UNION, with 15.3% market share. In second place, with 10.3%, is Northfield Savings Bank, having originated $23,760,000 in loans. In third place, with 8.1%, is NORTHEAST HOME LOAN, LLC, having originated $18,570,000 in loans. In fourth place, with 5.7%, is Union Bank, having originated $13,205,000 in loans. In fifth place, with 4.9%, is NORTH COUNTRY, having originated $11,385,000 in loans.
Barre, VT Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 505 | $157,055,000 | $311,000 |
| Home Improvement | 238 | $17,700,000 | $74,370 |
| Refi | 125 | $21,995,000 | $175,960 |
| Other | 109 | $14,405,000 | $132,156 |
| Cash Out Refi | 90 | $18,860,000 | $209,556 |
Barre's most frequently cited loan purpose was Home Purchase, with 505 originations. The 2nd most popular reason was Home Improvement, with 238 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 420 | $108,420,000 | $258,143 |
| 7-8% | 304 | $61,810,000 | $203,322 |
| 5-6% | 143 | $39,535,000 | $276,469 |
| Over 8% | 125 | $12,095,000 | $96,760 |
| 4-5% | 26 | $2,240,000 | $86,154 |
| <2.5% | 20 | $880,000 | $44,000 |
| 2.5-3% | 9 | $705,000 | $78,333 |
| 3-4% | 8 | $360,000 | $45,000 |
During 2023, Barre's most frequently originated rate bucket was 6-7%, with 420 originations.
Loan Sizing (Barre, VT MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 362 | $17,180,000 | $47,459 |
| $200k-400k | 339 | $95,805,000 | $282,611 |
| $100k-200k | 233 | $34,195,000 | $146,760 |
| $400k-600k | 87 | $40,895,000 | $470,057 |
| $600k-1000k | 33 | $24,225,000 | $734,091 |
| $Over $1MM | 13 | $17,715,000 | $1,362,692 |
Barre's loan sizing saw the bucket of loans from $100,000 or less with 362 originations, totaling $17,180,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 269 | $87,285,000 | $324,480 |
| Under 20% | 265 | $11,525,000 | $43,491 |
| 60-80% | 238 | $77,970,000 | $327,605 |
| 20-40% | 144 | $16,280,000 | $113,056 |
| 40-60% | 132 | $30,580,000 | $231,667 |
| Over 100% | 6 | $2,030,000 | $338,333 |
Barre's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 269 originations, totaling $87,285,000 in origination value.