BAY CITY Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Bay City averaged 7.43% for the week of 2023-11-22, compared to the national average of 7.29% for the same period.

    The average rate for the prior week (2023-11-16) was 7.48% and one month ago for the week of 2023-10-19, the average rate was 7.47%.

    Bay City's average rate one year ago was 6.85%.

    For refis of the same type during the week of 2023-11-22, the average rate was 6.72%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-11-22 7.29%
    Bay City 30 Year Fixed Rate 2023-11-22 7.43%
    Bay City 30 Year Fixed Rate Refi 2023-11-22 6.72%
    Bay City 15 Year Fixed Rate 2023-11-22 6.71%
    Bay City 15 Year Fixed Rate Refi 2023-11-22 7.17%
    Bay City 30 Year FHA 2023-11-22 0.03%
    Bay City 30 Year FHA Refi 2023-11-22 0.2%
    Bay City 30 Year USDA 2023-11-22 -0.1%
    Bay City 30 Year USDA Refi 2023-11-22 0.2%
    Bay City 30 Year VA 2023-11-22 -0.19%
    Bay City 30 Year VA Refi 2023-11-22 -0.1%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within BAY CITY, MI.

    BAY CITY 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 BAY CITY, 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
    ACADEMY MORTGAGE CORPORATION 78 5.69% $4,187
    QUICKEN LOANS, LLC 75 5.11% $5,242
    Frankenmuth Credit Union 70 5.27% $1,818
    DOW CHEMICAL EMPLOYEES' 64 5.06% $3,139
    UNITED WHOLESALE MORTGAGE, LLC 50 5.54% $4,334
    Independent Bank 49 5.31% $2,717
    Wildfire Credit Union 44 4.48% $2,139
    The Huntington National Bank 44 5.19% $3,276
    1st State Financial, Ltd. 33 4.68% $2,292
    Wanigas Credit Union 23 5.01% $2,153
    MICHIGAN MUTUAL, INC. 21 5.23% $4,239
    CARDINAL FINANCIAL 21 4.96% $3,952
    FinancialEdge Community Credit Union 17 5.19% $2,106
    Fifth Third Bank 16 5.13% $2,826
    JPMorgan Chase Bank 13 5.17% $2,696
    ENVOY MORTGAGE, LTD 13 5.92% $4,912
    Servion, Inc. 10 4.54% $2,523
    FINANCIAL PLUS CREDIT UNION 10 6.11% $3,003
    PNC Bank 9 5.44% $3,791
    TEAM ONE CREDIT UNION 8 5.02% $1,171
    LAKE MICHIGAN CREDIT UNION 7 4.59% $3,053
    Mercantile Bank of Michigan 7 5.14% $3,026
    Mr. Cooper ( Nationstar Mortgage ) 7 5.03% $5,227
    STAUNTON FINANCIAL, INC. 7 5.77% $8,864
    MEMBERS FIRST Credit Union 7 4.46% $2,393
    SUNRISE FAMILY CREDIT UNION 7 4.41% $2,388
    Flagstar Bank, FSB 6 5.11% $3,687
    J. VIRGIL, INC. 6 5.21% $3,983
    GreenStone Farm Credit Services, FLCA 6 5.81% $3,850
    MORTGAGE 1 INCORPORATED 5 6.42% $4,867
    HEALTH ADVANTAGE FEDERAL CREDIT UNION 5 4.50% $2,690
    First State Bank 5 5.37% $2,590
    LOANDEPOT.COM, LLC 5 4.62% $4,814
    CROSSCOUNTRY MORTGAGE, LLC 5 5.64% $4,201
    STOCKTON MORTGAGE CORPORATION 4 5.50% $4,267
    BROKER SOLUTIONS, INC. 4 5.43% $5,005
    UNITED FINANCIAL Credit Union 4 5.19% $2,678
    Horizon Bank 4 6.75% $2,617
    LEGEND LENDING CORPORATION 4 6.44% $3,517
    HOME POINT FINANCIAL CORPORATION 4 5.09% $2,300
    Wells Fargo Bank 4 5.34% $4,138
    NAVY FEDERAL CREDIT UNION 4 6.81% $1,861
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 4 4.69% $3,334
    Neighborhood Loans, Inc. 4 5.38% $5,223
    CHURCHILL MORTGAGE CORPORATION 4 5.06% $3,111
    ROYAL UNITED MORTGAGE LLC 3 5.08% $4,961
    AMERIFIRST FINANCIAL CORPORATION 3 5.38% $3,458
    CALIBER HOME LOANS, INC. 3 5.82% $3,978
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.41% $5,691
    FREEDOM MORTGAGE CORPORATION 3 5.63% $5,897
    Lake Huron Credit Union 3 4.38% $3,233
    LAKEVIEW LOAN SERVICING, LLC 3 5.04% $4,061
    MID AMERICA MORTGAGE, INC. 3 5.71% $3,597
    Mortgage Research Center, LLC 3 4.08% $2,527
    UNION HOME MORTGAGE CORP. 3 5.29% $3,308
    ZILLOW HOME LOANS, LLC 3 5.63% $6,023
    Citibank 2 3.19% $2,519
    ChoiceOne Bank 2 4.50% $2,742
    M&T Bank 2 4.31% $4,621
    BETTER MORTGAGE CORPORATION 2 4.88% $4,682
    Ally Bank 2 4.88% $1,718
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $5,137
    Isabella Bank 2 3.94% $2,527
    Bank of America 2 5.56% $2,542
    GENEVA FINANCIAL, LLC 2 5.81% $3,251
    AMERICAN FINANCING CORPORATION 1 5.38% $5,823
    DAS Acquisition Company, LLC 1 6.13% $3,783
    Nations Lending Corporation 1 5.75% $10,151
    CREDIT UNION ONE 1 4.88% $2,998
    CoVantage Credit Union 1 5.75% $3,202
    NEWREZ LLC 1 6.50% $4,054
    Paramount Residential Mortgage Group, Inc. 1 4.50% $4,539
    PENNYMAC LOAN SERVICES, LLC 1 4.25% $4,152
    PHH Mortgage Corporation 1 5.25% $5,816
    Platinum Home Mortgage Corporation 1 5.75% $3,304
    CONSUMERS 1 6.13% $2,730
    Preston Home Loans Inc 1 4.63% $3,278
    COMMUNITY FINANCIAL CREDIT UNION 1 4.00% $2,381
    CMG MORTGAGE, INC. 1 5.75% $5,475
    RUOFF MORTGAGE COMPANY, INC. 1 3.88% $4,096
    Stifel Bank and Trust 1 2.25% $2,976
    CALCON MUTUAL MORTGAGE LLC 1 6.50% $3,911
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.38% $9,626
    BLG HOLDINGS, INC. 1 4.13% $4,199
    T2 FINANCIAL LLC 1 4.25% $3,575
    The Dart Bank 1 5.88% $2,796
    Barrington Bank & Trust Company, N.A. 1 5.63% $3,863
    THRIVENT Federal Credit Union 1 4.00% $3,103
    TOP FLITE FINANCIAL, INC. 1 3.50% $5,399
    TOWNE MORTGAGE COMPANY 1 6.63% $8,720
    ANGEL OAK HOME LOANS LLC 1 5.75% $5,596
    UNIVERSITY OF MICHIGAN CREDIT UNION 1 4.13% $2,679
    USAA Federal Savings Bank 1 4.88% $4,544
    U.S. Bank 1 5.63% $5,405
    VIBE CREDIT UNION 1 6.38% $2,235
    JOLT CREDIT UNION 1 4.79% $2,257
    HOMESIDE FINANCIAL, LLC 1 5.99% $1,645
    MEMBER FIRST MORTGAGE, LLC 1 5.50% $2,581
    MARSHALL COMMUNITY CREDIT UNION 1 5.50% $1,923
    GUARANTEED RATE, INC. 1 6.88% $5,854
    GENISYS 1 5.75% $3,011
    MICHIGAN FIRST CREDIT UNION 1 3.63% $2,656
    MICHIGAN SCHOOLS AND GOVERNMENT 1 3.75% $2,938
    First Merchants Bank 1 4.63% $2,782
    Waterstone Mortgage Corporation 1 3.88% $3,550
    FIRST COMMUNITY MORTGAGE, INC. 1 6.13% $2,552
    MORTGAGE CENTER L.C 1 3.88% $1,894

    BAY CITY Average Closing Costs & Other Stats

    BAY CITY, MI's 107 lenders originated 2,496 loans during 2022. The total origination value was $332,540,000, with an average loan value of $133,229.

    BAY CITY's average closing costs are $3,449.

    The top BAY CITY lender as defined by loan originations is ACADEMY MORTGAGE CORPORATION, with 78 loans originated. Their average total fees are $4,187, which is $1,055 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee BAY CITY lenders (with over 10 loans originated) are Frankenmuth Credit Union ($1,818), FinancialEdge Community Credit Union ($2,106), Wildfire Credit Union ($2,139), Wanigas Credit Union ($2,153) and 1st State Financial, Ltd. ($2,292).

    The lowest rate BAY CITY lenders (with over 10 loans originated) are Wildfire Credit Union (4.48%), Servion, Inc. (4.54%), 1st State Financial, Ltd. (4.68%), CARDINAL FINANCIAL (4.96%) and Wanigas Credit Union (5.01%).

    BAY CITY, 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
    ACADEMY MORTGAGE CORPORATION $39,260,000 $25,645,000 -34.7% 7.7%
    QUICKEN LOANS, LLC $49,840,000 $25,420,000 -49.0% 7.6%
    The Huntington National Bank $20,235,000 $22,405,000 10.7% 6.7%
    Frankenmuth Credit Union $30,490,000 $19,030,000 -37.6% 5.7%
    DOW CHEMICAL EMPLOYEES' $21,420,000 $18,050,000 -15.7% 5.4%
    UNITED WHOLESALE MORTGAGE, LLC $18,415,000 $15,040,000 -18.3% 4.5%
    Old National Bank $12,955,000 n/a 3.9%
    Wildfire Credit Union $18,115,000 $12,955,000 -28.5% 3.9%
    Independent Bank $22,210,000 $11,150,000 -49.8% 3.4%
    United Bay Community Credit Union $17,595,000 $9,235,000 -47.5% 2.8%
    1st State Financial, Ltd. $19,460,000 $7,725,000 -60.3% 2.3%
    Horizon Bank $4,815,000 $7,430,000 54.3% 2.2%
    FinancialEdge Community Credit Union $11,795,000 $6,870,000 -41.8% 2.1%
    LAKE MICHIGAN CREDIT UNION $10,630,000 $6,610,000 -37.8% 2.0%
    Mortgage Research Center, LLC $6,555,000 $5,990,000 -8.6% 1.8%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $7,010,000 $5,890,000 -16.0% 1.8%
    Comerica Bank $65,000 $5,480,000 8,330.8% 1.6%
    PNC Bank $4,755,000 $4,580,000 -3.7% 1.4%
    Fifth Third Bank $5,010,000 $4,385,000 -12.5% 1.3%
    ENVOY MORTGAGE, LTD $6,090,000 $4,190,000 -31.2% 1.3%
    MICHIGAN MUTUAL, INC. $3,620,000 $4,000,000 10.5% 1.2%
    Wanigas Credit Union $11,090,000 $3,910,000 -64.7% 1.2%
    SUNRISE FAMILY CREDIT UNION $5,060,000 $3,815,000 -24.6% 1.1%
    Isabella Bank $19,015,000 $3,235,000 -83.0% 1.0%
    JOLT CREDIT UNION $7,880,000 $3,075,000 -61.0% 0.9%
    JPMorgan Chase Bank $3,120,000 $2,990,000 -4.2% 0.9%
    Adventure Credit Union $2,775,000 n/a 0.8%
    STAUNTON FINANCIAL, INC. $2,505,000 n/a 0.8%
    J. VIRGIL, INC. $1,800,000 $2,355,000 30.8% 0.7%
    FINANCIAL PLUS CREDIT UNION $315,000 $2,340,000 642.9% 0.7%
    MID AMERICA MORTGAGE, INC. $3,030,000 $2,340,000 -22.8% 0.7%
    NAVY FEDERAL CREDIT UNION $560,000 $2,280,000 307.1% 0.7%
    Thumb Bank and Trust $4,445,000 $2,040,000 -54.1% 0.6%
    GreenStone Farm Credit Services, FLCA $1,880,000 $1,980,000 5.3% 0.6%
    TEAM ONE CREDIT UNION $4,295,000 $1,875,000 -56.3% 0.6%
    MEMBERS FIRST Credit Union $2,010,000 $1,830,000 -9.0% 0.6%
    COPOCO Community Credit Union $3,485,000 $1,815,000 -47.9% 0.5%
    FREEDOM MORTGAGE CORPORATION $11,405,000 $1,805,000 -84.2% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $4,775,000 $1,755,000 -63.2% 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,645,000 $1,610,000 -39.1% 0.5%
    Flagstar Bank, FSB $2,065,000 $1,610,000 -22.0% 0.5%
    Servion, Inc. $1,845,000 $1,590,000 -13.8% 0.5%
    UNITED FINANCIAL Credit Union $2,970,000 $1,505,000 -49.3% 0.5%
    21ST MORTGAGE CORPORATION $1,680,000 $1,435,000 -14.6% 0.4%
    Arbor Realty Trust, Inc. $1,405,000 n/a 0.4%
    LEGEND LENDING CORPORATION $1,365,000 n/a 0.4%
    Lake Huron Credit Union $1,280,000 $1,345,000 5.1% 0.4%
    Mercantile Bank of Michigan $2,020,000 $1,330,000 -34.2% 0.4%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $760,000 $1,330,000 75.0% 0.4%
    USAA Federal Savings Bank $1,815,000 $1,255,000 -30.9% 0.4%
    AMERISAVE MORTGAGE CORPORATION $1,540,000 $1,250,000 -18.8% 0.4%
    First State Bank $135,000 $1,160,000 759.3% 0.3%
    LOANDEPOT.COM, LLC $2,275,000 $1,075,000 -52.7% 0.3%
    Wells Fargo Bank $5,060,000 $1,040,000 -79.4% 0.3%
    HEALTH ADVANTAGE FEDERAL CREDIT UNION $2,185,000 $960,000 -56.1% 0.3%
    ZILLOW HOME LOANS, LLC $240,000 $910,000 279.2% 0.3%
    NEWREZ LLC $2,270,000 $860,000 -62.1% 0.3%
    BROKER SOLUTIONS, INC. $610,000 $820,000 34.4% 0.2%
    Stifel Bank and Trust $805,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $2,270,000 $795,000 -65.0% 0.2%
    Neighborhood Loans, Inc. $250,000 $790,000 216.0% 0.2%
    STOCKTON MORTGAGE CORPORATION $315,000 $790,000 150.8% 0.2%
    CREDIT UNION ONE $825,000 $780,000 -5.5% 0.2%
    PENNYMAC LOAN SERVICES, LLC $2,405,000 $775,000 -67.8% 0.2%
    HOME POINT FINANCIAL CORPORATION $930,000 $755,000 -18.8% 0.2%
    AMERIFIRST FINANCIAL CORPORATION $465,000 $720,000 54.8% 0.2%
    UNION HOME MORTGAGE CORP. $2,370,000 $715,000 -69.8% 0.2%
    MORTGAGE 1 INCORPORATED $415,000 $685,000 65.1% 0.2%
    NEW DAY FINANCIAL, LLC $900,000 $675,000 -25.0% 0.2%
    LENDINGHOME FUNDING CORPORATION $1,140,000 $665,000 -41.7% 0.2%
    Bank of America $1,155,000 $600,000 -48.1% 0.2%
    Equity Prime Mortgage LLC $575,000 n/a 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $1,455,000 $570,000 -60.8% 0.2%
    CHURCHILL MORTGAGE CORPORATION $150,000 $555,000 270.0% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $1,590,000 $540,000 -66.0% 0.2%
    The State Bank $805,000 $525,000 -34.8% 0.2%
    GENEVA FINANCIAL, LLC $1,140,000 $490,000 -57.0% 0.1%
    Carrington Mortgage Services, LLC $1,350,000 $460,000 -65.9% 0.1%
    ROYAL UNITED MORTGAGE LLC $495,000 $455,000 -8.1% 0.1%
    RUOFF MORTGAGE COMPANY, INC. $345,000 $430,000 24.6% 0.1%
    SUCCESS MORTGAGE PARTNERS, INC. $625,000 $425,000 -32.0% 0.1%
    Ally Bank $715,000 $420,000 -41.3% 0.1%
    Figure Lending LLC $200,000 $400,000 100.0% 0.1%
    MICHIGAN SCHOOLS AND GOVERNMENT $325,000 $395,000 21.5% 0.1%
    PLAZA HOME MORTGAGE, INC. $1,145,000 $395,000 -65.5% 0.1%
    BETTER MORTGAGE CORPORATION $615,000 $370,000 -39.8% 0.1%
    ChoiceOne Bank $325,000 $370,000 13.8% 0.1%
    CONSUMERS $365,000 n/a 0.1%
    Union Bank $365,000 n/a 0.1%
    Bank of England $175,000 $360,000 105.7% 0.1%
    Citibank $105,000 $330,000 214.3% 0.1%
    TOWNE MORTGAGE COMPANY $395,000 $320,000 -19.0% 0.1%
    RELIANCE FIRST CAPITAL, LLC $465,000 $315,000 -32.3% 0.1%
    CMG MORTGAGE, INC. $305,000 n/a 0.1%
    Preston Home Loans Inc $770,000 $305,000 -60.4% 0.1%
    Citizens Bank $455,000 $300,000 -34.1% 0.1%
    EVERETT FINANCIAL, INC. $300,000 n/a 0.1%
    HOMESIDE FINANCIAL, LLC $645,000 $300,000 -53.5% 0.1%
    UNIVERSITY OF MICHIGAN CREDIT UNION $300,000 n/a 0.1%
    MORTGAGE CENTER L.C $715,000 $290,000 -59.4% 0.1%
    AMERICAN FINANCING CORPORATION $870,000 $280,000 -67.8% 0.1%
    FIRST COMMUNITY MORTGAGE, INC. $85,000 $280,000 229.4% 0.1%
    ANGEL OAK HOME LOANS LLC $255,000 n/a 0.1%
    CLEARPATH LENDING $245,000 $255,000 4.1% 0.1%
    T2 FINANCIAL LLC $250,000 n/a 0.1%
    Nations Lending Corporation $225,000 n/a 0.1%
    VIBE CREDIT UNION $225,000 n/a 0.1%
    ELGA CREDIT UNION $450,000 $220,000 -51.1% 0.1%
    Lakeview Community Capital, LLC $215,000 n/a 0.1%
    PROVIDENT FUNDING ASSOCIATES, L.P. $215,000 n/a 0.1%
    ROSS MORTGAGE CORPORATION $325,000 $210,000 -35.4% 0.1%
    First Federal Bank $185,000 $195,000 5.4% 0.1%
    THRIVENT Federal Credit Union $195,000 n/a 0.1%
    Paramount Residential Mortgage Group, Inc. $620,000 $185,000 -70.2% 0.1%
    M&T Bank $180,000 n/a 0.1%
    Northstar Bank $220,000 $180,000 -18.2% 0.1%
    MICHIGAN FIRST CREDIT UNION $175,000 n/a 0.1%
    Sunflower Bank $300,000 $175,000 -41.7% 0.1%
    Dort Financial Credit Union $105,000 $170,000 61.9% 0.1%
    GENISYS $75,000 $170,000 126.7% 0.1%
    U.S. Bank $1,115,000 $170,000 -84.8% 0.1%
    Home State Bank $165,000 n/a 0.0%
    TRIAD FINANCIAL SERVICES, INC. $140,000 n/a 0.0%
    GUARANTEED RATE, INC. $625,000 $135,000 -78.4% 0.0%
    The Dart Bank $1,040,000 $135,000 -87.0% 0.0%
    VILLAGE CAPITAL MORTGAGE $1,155,000 $130,000 -88.7% 0.0%
    First Merchants Bank $125,000 n/a 0.0%
    CHERRY CREEK MORTGAGE, LLC $115,000 n/a 0.0%
    PHH Mortgage Corporation $455,000 $115,000 -74.7% 0.0%
    TOP FLITE FINANCIAL, INC. $115,000 n/a 0.0%
    Chicago Mortgage Solutions LLC $350,000 $105,000 -70.0% 0.0%
    MARSHALL COMMUNITY CREDIT UNION $105,000 n/a 0.0%
    LIMA ONE CAPITAL, LLC $125,000 $95,000 -24.0% 0.0%
    MEMBER FIRST MORTGAGE, LLC $705,000 $95,000 -86.5% 0.0%
    Nicolet National Bank $95,000 n/a 0.0%
    Platinum Home Mortgage Corporation $95,000 n/a 0.0%
    Discover Bank $95,000 $90,000 -5.3% 0.0%
    BLG HOLDINGS, INC. $245,000 $85,000 -65.3% 0.0%
    DAS Acquisition Company, LLC $85,000 n/a 0.0%
    DFCU FINANCIAL $85,000 n/a 0.0%
    FINANCE OF AMERICA MORTGAGE LLC $445,000 $85,000 -80.9% 0.0%
    NORTHERN MORTGAGE SERVICES, LLC $1,205,000 $85,000 -92.9% 0.0%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $325,000 $80,000 -75.4% 0.0%
    Barrington Bank & Trust Company, N.A. $425,000 $75,000 -82.4% 0.0%
    BM Real Estate Services, Inc. $405,000 $75,000 -81.5% 0.0%
    CALCON MUTUAL MORTGAGE LLC $75,000 n/a 0.0%
    First Guaranty Mortgage Corporation $125,000 $75,000 -40.0% 0.0%
    LOANPAL, LLC $75,000 n/a 0.0%
    COMMUNITY FINANCIAL CREDIT UNION $115,000 $65,000 -43.5% 0.0%
    CoVantage Credit Union $65,000 n/a 0.0%
    LONGBRIDGE FINANCIAL, LLC $65,000 n/a 0.0%
    Meijer Credit Union $55,000 n/a 0.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $490,000 $55,000 -88.8% 0.0%
    Waterstone Mortgage Corporation $55,000 n/a 0.0%
    ADVIA $45,000 n/a 0.0%
    AMERICAN ADVISORS GROUP $15,000 $35,000 133.3% 0.0%
    REVERSE MORTGAGE FUNDING LLC $25,000 n/a 0.0%
    GREENSTATE CREDIT UNION $15,000 n/a 0.0%

    BAY CITY's top lender by overall market share is ACADEMY MORTGAGE CORPORATION, with 7.7% market share. In second place, with 7.6%, is QUICKEN LOANS, LLC, having originated $25,420,000 in loans. In third place, with 6.7%, is The Huntington National Bank, having originated $22,405,000 in loans. In fourth place, with 5.7%, is Frankenmuth Credit Union, having originated $19,030,000 in loans. In fifth place, with 5.4%, is DOW CHEMICAL EMPLOYEES', having originated $18,050,000 in loans.

    BAY CITY Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - BAY CITY (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 $87,850 (3.5%) $118,872 (3.8%) 0.00 333
    2018-02-01 $88,800 (4.0%) $124,293 (5.3%) 0.00 327
    2018-03-01 $89,900 (4.3%) $128,418 (4.3%) 0.00 302
    2018-04-01 $95,850 (6.6%) $137,364 (6.0%) 0.00 279
    2018-05-01 $97,350 (2.5%) $135,241 (1.6%) 0.00 286
    2018-06-01 $98,950 (10.1%) $136,047 (7.6%) 0.00 390
    2018-07-01 $99,900 (13.0%) $146,147 (20.6%) 0.00 387
    2018-08-01 $107,000 (22.7%) $149,864 (24.3%) 0.00 388
    2018-09-01 $109,900 (27.9%) $150,976 (26.8%) 0.00 391
    2018-10-01 $108,000 (24.6%) $145,219 (21.1%) 0.00 384
    2018-11-01 $105,575 (19.1%) $144,487 (21.7%) 0.00 375
    2018-12-01 $96,400 (7.2%) $142,129 (18.8%) 0.00 369
    2019-01-01 $94,800 (7.9%) $141,432 (19.0%) 0.00 348
    2019-02-01 $89,900 (1.2%) $141,547 (13.9%) 0.00 312
    2019-03-01 $93,457 (4.0%) $243,923 (89.9%) 0.00 292
    2019-04-01 $98,350 (2.6%) $246,983 (79.8%) 0.00 281
    2019-05-01 $102,400 (5.2%) $150,654 (11.4%) 0.00 297
    2019-06-01 $119,450 (20.7%) $163,601 (20.3%) 0.00 317
    2019-07-01 $115,400 (15.5%) $158,067 (8.2%) 0.00 330
    2019-08-01 $116,445 (8.8%) $160,240 (6.9%) 0.00 349
    2019-09-01 $117,264 (6.7%) $160,799 (6.5%) 0.00 365
    2019-10-01 $114,334 (5.9%) $160,594 (10.6%) 0.00 383
    2019-11-01 $99,900 (-5.4%) $155,554 (7.7%) 0.00 365
    2019-12-01 $94,900 (-1.6%) $150,448 (5.9%) 0.00 319
    2020-01-01 $88,275 (-6.9%) $143,454 (1.4%) 0.00 277
    2020-02-01 $89,900 (0.0%) $152,713 (7.9%) 0.00 265
    2020-03-01 $93,475 (0.0%) $155,537 (-36.2%) 0.00 248
    2020-04-01 $94,950 (-3.5%) $155,074 (-37.2%) 0.00 216
    2020-05-01 $99,900 (-2.4%) $156,472 (3.9%) 0.00 199
    2020-06-01 $117,100 (-2.0%) $167,798 (2.6%) 0.00 188
    2020-07-01 $110,225 (-4.5%) $172,528 (9.2%) 0.00 164
    2020-08-01 $115,900 (-0.5%) $942,848 (488.4%) 0.00 152
    2020-09-01 $112,625 (-4.0%) $176,584 (9.8%) 0.00 139
    2020-10-01 $109,900 (-3.9%) $160,416 (-0.1%) 0.00 134
    2020-11-01 $123,650 (23.8%) $159,572 (2.6%) 0.00 123
    2020-12-01 $127,425 (34.3%) $166,159 (10.4%) 0.00 114
    2021-01-01 $129,900 (47.2%) $173,595 (21.0%) 0.00 110
    2021-02-01 $126,650 (40.9%) $169,815 (11.2%) 0.00 92
    2021-03-01 $106,225 (13.6%) $180,650 (16.2%) 0.00 82
    2021-04-01 $161,950 (70.6%) $205,368 (32.4%) 0.00 70
    2021-05-01 $149,900 (50.1%) $195,317 (24.8%) 0.00 85
    2021-06-01 $141,175 (20.6%) $205,632 (22.6%) 0.00 120
    2021-07-01 $147,900 (34.2%) $206,550 (19.7%) 0.00 149
    2021-08-01 $137,475 (18.6%) $191,707 (-79.7%) 0.00 169
    2021-09-01 $129,400 (14.9%) $187,362 (6.1%) 0.00 175
    2021-10-01 $124,900 (13.7%) $188,410 (17.5%) 0.00 179
    2021-11-01 $121,075 (-2.1%) $175,098 (9.7%) 0.00 157
    2021-12-01 $107,350 (-15.8%) $170,322 (2.5%) 0.00 146
    2022-01-01 $103,500 (-20.3%) $169,917 (-2.1%) 0.00 117
    2022-02-01 $119,700 (-5.5%) $186,640 (9.9%) 0.00 100
    2022-03-01 $129,300 (21.7%) $191,254 (5.9%) 0.00 76
    2022-04-01 $149,900 (-7.4%) $205,438 (0.0%) 0.00 75
    2022-05-01 $152,725 (1.9%) $213,624 (9.4%) 0.00 95
    2022-06-01 $151,225 (7.1%) $197,918 (-3.8%) 0.00 119
    2022-07-01 $169,900 (14.9%) $222,625 (7.8%) 0.00 139
    2022-08-01 $174,950 (27.3%) $226,089 (17.9%) 0.00 141
    2022-09-01 $180,500 (39.5%) $215,421 (15.0%) 0.00 132
    2022-10-01 $178,700 (43.1%) $215,677 (14.5%) 0.00 137
    2022-11-01 $165,225 (36.5%) $199,913 (14.2%) 0.00 134
    2022-12-01 $159,900 (49.0%) $203,128 (19.3%) 0.00 127
    2023-01-01 $152,400 (47.3%) $200,700 (18.1%) 0.00 111
    2023-02-01 $178,500 (49.1%) $224,151 (20.1%) 0.00 92
    2023-03-01 $208,650 (61.4%) $242,878 (27.0%) 0.00 75
    2023-04-01 $177,500 (18.4%) $243,777 (18.7%) 0.00 68
    2023-05-01 $171,950 (12.6%) $230,327 (7.8%) 0.00 73
    2023-06-01 $177,450 (17.3%) $223,834 (13.1%) 0.00 88
    2023-07-01 $182,400 (7.4%) $222,773 (0.1%) 0.00 96
    2023-08-01 $179,175 (2.4%) $224,385 (-0.8%) 0.00 100
    2023-09-01 $172,400 (-4.5%) $231,585 (7.5%) 0.00 106
    2023-10-01 $157,450 (-11.9%) $218,460 (1.3%) 0.00 129
    BAY CITY's median listing price for 2023-10-01 was $157,450, a difference of $-21,250 (-11.9%) versus the prior year and $-14,950 versus the prior month.

    BAY CITY's median listing price comes in at 0% of the national average.

    BAY CITY's average listing price for 2023-10-01 was $218,460, a difference of $2,783 (1.3%) versus the prior year and $-13,125 versus the prior month.

    For the 2023-10-01 period, BAY CITY had 129 MLS listings, a difference of 23 listings (22%) versus the prior month and -8 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - BAY CITY (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,380 sqft
    2018-02-01 0 days 1,367 sqft
    2018-03-01 0 days 1,373 sqft
    2018-04-01 0 days 1,386 sqft
    2018-05-01 0 days 1,386 sqft
    2018-06-01 0 days 1,388 sqft
    2018-07-01 0 days 1,400 sqft
    2018-08-01 0 days 1,424 sqft
    2018-09-01 0 days 1,448 sqft
    2018-10-01 0 days 1,454 sqft
    2018-11-01 0 days 1,442 sqft
    2018-12-01 0 days 1,396 sqft
    2019-01-01 0 days 1,402 sqft
    2019-02-01 0 days 1,391 sqft
    2019-03-01 0 days 1,386 sqft
    2019-04-01 0 days 1,418 sqft
    2019-05-01 0 days 1,454 sqft
    2019-06-01 0 days 1,477 sqft
    2019-07-01 0 days 1,471 sqft
    2019-08-01 0 days 1,507 sqft
    2019-09-01 0 days 1,486 sqft
    2019-10-01 0 days 1,467 sqft
    2019-11-01 0 days 1,452 sqft
    2019-12-01 0 days 1,402 sqft
    2020-01-01 0 days 1,361 sqft
    2020-02-01 0 days 1,362 sqft
    2020-03-01 0 days 1,400 sqft
    2020-04-01 0 days 1,367 sqft
    2020-05-01 0 days 1,403 sqft
    2020-06-01 0 days 1,535 sqft
    2020-07-01 0 days 1,531 sqft
    2020-08-01 0 days 1,566 sqft
    2020-09-01 0 days 1,497 sqft
    2020-10-01 0 days 1,483 sqft
    2020-11-01 0 days 1,474 sqft
    2020-12-01 0 days 1,426 sqft
    2021-01-01 0 days 1,480 sqft
    2021-02-01 0 days 1,402 sqft
    2021-03-01 0 days 1,378 sqft
    2021-04-01 0 days 1,546 sqft
    2021-05-01 0 days 1,480 sqft
    2021-06-01 0 days 1,460 sqft
    2021-07-01 0 days 1,500 sqft
    2021-08-01 0 days 1,492 sqft
    2021-09-01 0 days 1,476 sqft
    2021-10-01 0 days 1,497 sqft
    2021-11-01 0 days 1,500 sqft
    2021-12-01 0 days 1,473 sqft
    2022-01-01 0 days 1,491 sqft
    2022-02-01 0 days 1,419 sqft
    2022-03-01 0 days 1,413 sqft
    2022-04-01 0 days 1,461 sqft
    2022-05-01 0 days 1,527 sqft
    2022-06-01 0 days 1,466 sqft
    2022-07-01 0 days 1,496 sqft
    2022-08-01 0 days 1,515 sqft
    2022-09-01 0 days 1,526 sqft
    2022-10-01 0 days 1,559 sqft
    2022-11-01 0 days 1,526 sqft
    2022-12-01 0 days 1,546 sqft
    2023-01-01 0 days 1,454 sqft
    2023-02-01 0 days 1,500 sqft
    2023-03-01 0 days 1,545 sqft
    2023-04-01 0 days 1,546 sqft
    2023-05-01 0 days 1,545 sqft
    2023-06-01 0 days 1,546 sqft
    2023-07-01 0 days 1,452 sqft
    2023-08-01 0 days 1,507 sqft
    2023-09-01 0 days 1,458 sqft
    2023-10-01 0 days 1,443 sqft
    BAY CITY's median listing age (time on market) for 2023-10-01 was 0 days.

    BAY CITY's median square footage for active listings during the 2023-10-01 period was 1,443 sqft. One year prior, the average listing was 1,559 sqft.

    BAY CITY, MI Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    48604 Bay City, MI $600 $680 $900 $1,130 $1,220
    48611 Bay City, MI $570 $670 $860 $1,130 $1,220
    48613 Bay City, MI $700 $820 $1,050 $1,380 $1,490
    48623 Bay City, MI $700 $800 $1,060 $1,330 $1,450
    48631 Bay City, MI $500 $590 $760 $990 $1,080
    48634 Bay City, MI $500 $590 $760 $1,060 $1,190
    48642 Bay City, MI $630 $720 $940 $1,300 $1,440
    48650 Bay City, MI $580 $680 $880 $1,150 $1,250
    48652 Bay City, MI $730 $850 $1,100 $1,460 $1,590
    48658 Bay City, MI $500 $590 $760 $990 $1,080
    48659 Bay City, MI $510 $600 $770 $1,010 $1,090
    48706 Bay City, MI $540 $630 $810 $1,060 $1,150
    48707 Bay City, MI $520 $610 $790 $1,040 $1,120
    48708 Bay City, MI $500 $590 $760 $1,000 $1,080
    48710 Bay City, MI $520 $610 $790 $1,040 $1,120
    48732 Bay City, MI $500 $590 $760 $990 $1,080
    48747 Bay City, MI $630 $740 $950 $1,240 $1,350
    48757 Bay City, MI $500 $580 $760 $950 $1,030

    2022 Average & Median Rent Data Statistics
    BAY CITY, MI average 1BR rent: $663, median: $620
    BAY CITY, MI average 2BR rent: $859, median: $800
    BAY CITY, MI average 3BR rent: $1,125, median: $1,060

    BAY CITY, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 1,368 $207,030,000 $151,338
    Cash Out Refi 518 $60,130,000 $116,081
    Refi 263 $42,045,000 $159,867
    Home Improvement 218 $13,810,000 $63,349
    Other 129 $9,525,000 $73,837

    Bay City's most frequently cited loan purpose was Home Purchase, with 1,368 originations. The 2nd most popular reason was Cash Out Refi, with 518 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 687 $93,805,000 $136,543
    3-4% 491 $64,225,000 $130,804
    4-5% 431 $65,145,000 $151,148
    6-7% 342 $40,740,000 $119,123
    2.5-3% 128 $21,550,000 $168,359
    7-8% 120 $12,430,000 $103,583
    <2.5% 107 $19,595,000 $183,131
    Over 8% 56 $2,840,000 $50,714

    During 2022, Bay City's most frequently originated rate bucket was 5-6%, with 687 originations.

    Loan Sizing (BAY CITY, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 1,170 $69,560,000 $59,453
    $100k-200k 994 $137,880,000 $138,712
    $200k-400k 293 $77,455,000 $264,352
    $400k-600k 25 $11,995,000 $479,800
    $600k-1000k 7 $4,755,000 $679,286
    $Over $1MM 7 $30,895,000 $4,413,571

    BAY CITY's loan sizing saw the bucket of loans from $100,000 or less with 1,170 originations, totaling $69,560,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 1,102 $175,070,000 $158,866
    60-80% 597 $97,765,000 $163,760
    40-60% 233 $23,065,000 $98,991
    20-40% 223 $15,355,000 $68,857
    Under 20% 183 $4,385,000 $23,962
    Over 100% 9 $1,655,000 $183,889

    BAY CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,102 originations, totaling $175,070,000 in origination value.