Big Rapids 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 Big Rapids averaged 6.83% for the week of 2024-11-14, compared to the national average of 6.78% for the same period.

    The average rate for the prior week (2024-11-07) was 7.04% and one month ago for the week of 2024-10-10, the average rate was 6.67%.

    Big Rapids's average rate one year ago was 7.85%.

    For refis of the same type during the week of 2024-11-14, the average rate was 6.88%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-14 6.78%
    Big Rapids 30 Year Fixed Rate 2024-11-14 6.83%
    Big Rapids 30 Year Fixed Rate Refi 2024-11-14 6.88%
    Big Rapids 15 Year Fixed Rate 2024-11-14 5.89%
    Big Rapids 15 Year Fixed Rate Refi 2024-11-14 5.89%
    Big Rapids 30 Year FHA 2024-11-14 0.07%
    Big Rapids 30 Year FHA Refi 2024-11-14 -0.2%
    Big Rapids 30 Year USDA 2024-11-14 -0.1%
    Big Rapids 30 Year USDA Refi 2024-11-14 0.1%
    Big Rapids 30 Year VA 2024-11-14 0%
    Big Rapids 30 Year VA Refi 2024-11-14 -0.1%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Big Rapids, MI.

    Big Rapids 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 Big Rapids, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Neighborhood Loans, Inc. 27 7.02% $4,984
    Isabella Bank 24 6.52% $2,862
    QUICKEN LOANS, LLC 22 6.71% $5,845
    UNITED WHOLESALE MORTGAGE, LLC 16 7.11% $5,468
    LAKE MICHIGAN CREDIT UNION 14 6.88% $3,425
    Independent Bank 12 7.25% $2,894
    The Huntington National Bank 10 7.01% $3,298
    MORTGAGE 1 INCORPORATED 9 7.05% $5,238
    Fifth Third Bank 8 6.65% $3,111
    Mercantile Bank of Michigan 7 6.75% $3,886
    The Dart Bank 6 7.10% $3,630
    UNION HOME MORTGAGE CORP. 6 6.50% $5,143
    CONSUMERS 5 7.75% $2,925
    MICHIGAN FIRST CREDIT UNION 4 8.16% $3,810
    Horizon Bank 4 7.03% $2,910
    West Michigan Credit Union 4 6.63% $4,778
    JPMorgan Chase Bank 4 6.09% $4,967
    Flagstar Bank, FSB 3 6.67% $3,449
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.08% $2,966
    FIRST COMMUNITY MORTGAGE, INC. 3 6.33% $4,537
    GUILD MORTGAGE COMPANY 3 7.33% $6,599
    ACADEMY MORTGAGE CORPORATION 2 7.06% $5,439
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.81% $5,439
    CALIBER HOME LOANS, INC. 2 6.44% $6,275
    CARDINAL FINANCIAL 2 7.56% $13,339
    ChoiceOne Bank 2 7.19% $3,171
    CHURCHILL MORTGAGE CORPORATION 2 6.69% $5,038
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $5,844
    LOANDEPOT.COM, LLC 2 7.63% $6,750
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 2 5.81% $3,805
    MMS MORTGAGE SERVICES, LTD. 2 6.63% $4,293
    Mr. Cooper ( Nationstar Mortgage ) 2 7.31% $5,952
    NORTHERN MORTGAGE SERVICES, LLC 2 6.50% $6,400
    PENNYMAC LOAN SERVICES, LLC 2 7.00% $7,790
    TOP FLITE FINANCIAL, INC. 2 6.94% $4,548
    GVC MORTGAGE, INC. 1 6.13% $13,067
    HOMESIDE FINANCIAL, LLC 1 7.99% $3,149
    ENVOY MORTGAGE, LTD 1 7.63% $6,024
    ILLINOIS STATE CREDIT UNION 1 6.00% $1,982
    EMBRACE HOME LOANS, INC. 1 7.50% $3,661
    DOW CHEMICAL EMPLOYEES' 1 6.50% $2,292
    Dort Financial Credit Union 1 6.38% $2,704
    J. VIRGIL, INC. 1 7.00% $5,420
    Kellogg Community Credit Union 1 8.13% $2,567
    Community West Credit Union 1 6.50% $5,681
    United Bank of Michigan 1 6.75% $636
    Macatawa Bank 1 5.63% $2,838
    CITY-COUNTY CREDIT UNION 1 7.25% $4,907
    CHERRY CREEK MORTGAGE, LLC 1 7.00% $720
    MICHIGAN MUTUAL, INC. 1 6.88% $3,962
    AmeriHome Mortgage Company, LLC 1 7.99% $4,710
    U.S. Bank 1 7.38% $2,297
    BROKER SOLUTIONS, INC. 1 6.49% $3,509
    MORTGAGE CENTER L.C 1 6.00% $2,837
    VAN DYK MORTGAGE CORPORATION 1 7.00% $2,241
    NAVY FEDERAL CREDIT UNION 1 8.50% $2,605
    BM Real Estate Services, Inc. 1 6.38% $3,521
    NEWREZ LLC 1 7.63% $5,089
    Wells Fargo Bank 1 7.63% $7,707
    OAK MORTGAGE, LLC 1 6.75% $3,213
    Old National Bank 1 5.50% $3,357
    AMERICAN FINANCING CORPORATION 1 5.99% $4,553
    BETTER MORTGAGE CORPORATION 1 6.25% $6,864
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $5,173
    Barrington Bank & Trust Company, N.A. 1 7.99% $2,773
    The Federal Savings Bank 1 7.63% $5,869
    Bank of England 1 7.00% $10,042
    Wildfire Credit Union 1 6.13% $2,383
    Union Bank 1 5.25% $3,223
    Ameris Bank 1 6.88% $3,120
    First Merchants Bank 1 5.50% $3,207
    First National Bank of America 1 9.25% $8,336
    First State Bank 1 6.75% $3,437
    FIRST HOME MORTGAGE CORPORATION 1 7.49% $7,150
    GENISYS 1 5.63% $4,642
    GUARANTEED RATE, INC. 1 6.99% $3,690
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.50% $3,809

    Big Rapids Average Closing Costs & Other Stats

    Big Rapids, MI's 77 lenders originated 781 loans during 2023. The total origination value was $126,485,000, with an average loan value of $161,953.

    Big Rapids's average closing costs are $4,044.

    The top Big Rapids lender as defined by loan originations is Neighborhood Loans, Inc., with 27 loans originated. Their average total fees are $4,984, which is $2,122 higher than the next largest lender, Isabella Bank.

    The lowest fee Big Rapids lenders (with over 10 loans originated) are Isabella Bank ($2,862), Independent Bank ($2,894), The Huntington National Bank ($3,298), LAKE MICHIGAN CREDIT UNION ($3,425) and Neighborhood Loans, Inc. ($4,984).

    The lowest rate Big Rapids lenders (with over 10 loans originated) are Isabella Bank (6.52%), QUICKEN LOANS, LLC (6.71%), LAKE MICHIGAN CREDIT UNION (6.88%), The Huntington National Bank (7.01%) and Neighborhood Loans, Inc. (7.02%).

    Big Rapids, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Isabella Bank $22,355,000 $16,470,000 -26.3% 13.0%
    QUICKEN LOANS, LLC $13,915,000 $8,650,000 -37.8% 6.8%
    The Huntington National Bank $9,815,000 $8,390,000 -14.5% 6.6%
    Neighborhood Loans, Inc. $8,715,000 $6,580,000 -24.5% 5.2%
    LAKE MICHIGAN CREDIT UNION $9,935,000 $5,685,000 -42.8% 4.5%
    UNITED WHOLESALE MORTGAGE, LLC $6,440,000 $5,565,000 -13.6% 4.4%
    Independent Bank $7,665,000 $3,595,000 -53.1% 2.8%
    UNION HOME MORTGAGE CORP. $830,000 $3,490,000 320.5% 2.8%
    Fifth Third Bank $8,745,000 $3,480,000 -60.2% 2.8%
    Mercantile Bank of Michigan $3,220,000 $3,150,000 -2.2% 2.5%
    MORTGAGE 1 INCORPORATED $2,545,000 $2,990,000 17.5% 2.4%
    West Michigan Credit Union $1,530,000 $2,425,000 58.5% 1.9%
    GreenStone Farm Credit Services, FLCA $1,075,000 $2,165,000 101.4% 1.7%
    ChoiceOne Bank $680,000 $2,150,000 216.2% 1.7%
    Horizon Bank $5,535,000 $1,940,000 -65.0% 1.5%
    The Dart Bank $2,360,000 $1,880,000 -20.3% 1.5%
    CONSUMERS $1,775,000 $1,660,000 -6.5% 1.3%
    Mortgage Research Center, LLC $2,505,000 $1,550,000 -38.1% 1.2%
    BROKER SOLUTIONS, INC. $655,000 $1,235,000 88.5% 1.0%
    FIRST COMMUNITY MORTGAGE, INC. $1,175,000 n/a 0.9%
    PENNYMAC LOAN SERVICES, LLC $830,000 $1,165,000 40.4% 0.9%
    GUILD MORTGAGE COMPANY $1,105,000 n/a 0.9%
    First National Bank of Michigan $1,085,000 n/a 0.9%
    TOP FLITE FINANCIAL, INC. $4,260,000 $935,000 -78.1% 0.7%
    CHURCHILL MORTGAGE CORPORATION $1,070,000 $770,000 -28.0% 0.6%
    MICHIGAN FIRST CREDIT UNION $495,000 $760,000 53.5% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $1,050,000 $735,000 -30.0% 0.6%
    CARDINAL FINANCIAL $335,000 $725,000 116.4% 0.6%
    COMMUNITY FIRST $1,645,000 $715,000 -56.5% 0.6%
    JPMorgan Chase Bank $540,000 $710,000 31.5% 0.6%
    MMS MORTGAGE SERVICES, LTD. $660,000 n/a 0.5%
    LOANDEPOT.COM, LLC $1,470,000 $630,000 -57.1% 0.5%
    CROSSCOUNTRY MORTGAGE, LLC $955,000 $605,000 -36.6% 0.5%
    ACADEMY MORTGAGE CORPORATION $250,000 $590,000 136.0% 0.5%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $285,000 $590,000 107.0% 0.5%
    AMERICAN PACIFIC MORTGAGE CORPORATION $580,000 n/a 0.5%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $1,595,000 $580,000 -63.6% 0.5%
    CALIBER HOME LOANS, INC. $385,000 $580,000 50.6% 0.5%
    DFCU FINANCIAL $300,000 $550,000 83.3% 0.4%
    ROSS MORTGAGE CORPORATION $540,000 n/a 0.4%
    West Michigan Community Bank $535,000 n/a 0.4%
    Comerica Bank $155,000 $530,000 241.9% 0.4%
    Morgan Stanley Private Bank $525,000 n/a 0.4%
    Flagstar Bank, FSB $2,310,000 $515,000 -77.7% 0.4%
    SUCCESS MORTGAGE PARTNERS, INC. $1,075,000 $515,000 -52.1% 0.4%
    TOWNE MORTGAGE COMPANY $85,000 $500,000 488.2% 0.4%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,475,000 $490,000 -66.8% 0.4%
    21ST MORTGAGE CORPORATION $370,000 $465,000 25.7% 0.4%
    NORTHERN MORTGAGE SERVICES, LLC $135,000 $450,000 233.3% 0.4%
    Citizens Bank $415,000 $440,000 6.0% 0.3%
    Barrington Bank & Trust Company, N.A. $280,000 $425,000 51.8% 0.3%
    F&M Bank $425,000 n/a 0.3%
    GENISYS $405,000 n/a 0.3%
    First Merchants Bank $270,000 $400,000 48.1% 0.3%
    GVC MORTGAGE, INC. $595,000 $400,000 -32.8% 0.3%
    NEWREZ LLC $1,185,000 $385,000 -67.5% 0.3%
    MORTGAGE CENTER L.C $380,000 n/a 0.3%
    NEW DAY FINANCIAL, LLC $300,000 $380,000 26.7% 0.3%
    GUARANTEED RATE, INC. $610,000 $365,000 -40.2% 0.3%
    Preston Home Loans Inc $390,000 $365,000 -6.4% 0.3%
    Carrington Mortgage Services, LLC $400,000 $355,000 -11.3% 0.3%
    United Bank of Michigan $410,000 $355,000 -13.4% 0.3%
    FIRST STATE MORTGAGE SERVICES, LLC $335,000 n/a 0.3%
    Union Bank $335,000 n/a 0.3%
    J. VIRGIL, INC. $845,000 $330,000 -60.9% 0.3%
    Bank of England $325,000 n/a 0.3%
    EMBRACE HOME LOANS, INC. $325,000 n/a 0.3%
    PNC Bank $1,680,000 $320,000 -81.0% 0.3%
    AMERICAN FINANCIAL RESOURCES, INC. $460,000 $310,000 -32.6% 0.2%
    Michigan Educational Credit Union $370,000 $305,000 -17.6% 0.2%
    Adventure Credit Union $265,000 $295,000 11.3% 0.2%
    AMERICAN FINANCING CORPORATION $390,000 $295,000 -24.4% 0.2%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $255,000 $295,000 15.7% 0.2%
    OAK MORTGAGE, LLC $295,000 n/a 0.2%
    GERBER FEDERAL CREDIT UNION $285,000 n/a 0.2%
    AMERICAN FINANCIAL NETWORK, INC. $280,000 n/a 0.2%
    First State Bank $255,000 n/a 0.2%
    CITY-COUNTY CREDIT UNION $245,000 n/a 0.2%
    CMG MORTGAGE, INC. $245,000 n/a 0.2%
    Community West Credit Union $15,000 $245,000 1,533.3% 0.2%
    BETTER MORTGAGE CORPORATION $605,000 $235,000 -61.2% 0.2%
    First National Bank of America $235,000 n/a 0.2%
    Lake Trust Credit Union $75,000 $235,000 213.3% 0.2%
    MORTGAGEONE, INC. $225,000 n/a 0.2%
    The Federal Savings Bank $225,000 n/a 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $280,000 $220,000 -21.4% 0.2%
    U.S. Bank $160,000 $215,000 34.4% 0.2%
    AmeriHome Mortgage Company, LLC $210,000 n/a 0.2%
    VILLAGE CAPITAL MORTGAGE $195,000 $205,000 5.1% 0.2%
    FINANCE OF AMERICA REVERSE LLC $195,000 n/a 0.2%
    Old National Bank $470,000 $195,000 -58.5% 0.2%
    Wells Fargo Bank $1,115,000 $195,000 -82.5% 0.2%
    ELGA CREDIT UNION $90,000 $190,000 111.1% 0.2%
    Honor Credit Union $105,000 $190,000 81.0% 0.2%
    RUOFF MORTGAGE COMPANY, INC. $190,000 n/a 0.2%
    STAUNTON FINANCIAL, INC. $980,000 $185,000 -81.1% 0.1%
    MICHIGAN MUTUAL, INC. $880,000 $180,000 -79.5% 0.1%
    CONTOUR MORTGAGE CORPORATION $175,000 n/a 0.1%
    ON Q FINANCIAL, INC. $175,000 n/a 0.1%
    CHERRY CREEK MORTGAGE, LLC $165,000 n/a 0.1%
    MEMBERS FIRST Credit Union $260,000 $165,000 -36.5% 0.1%
    Northpointe Bank $1,505,000 $165,000 -89.0% 0.1%
    Ameris Bank $155,000 n/a 0.1%
    Dort Financial Credit Union $155,000 n/a 0.1%
    DOW CHEMICAL EMPLOYEES' $775,000 $155,000 -80.0% 0.1%
    ENVOY MORTGAGE, LTD $155,000 n/a 0.1%
    FIRST HOME MORTGAGE CORPORATION $155,000 n/a 0.1%
    Kellogg Community Credit Union $155,000 n/a 0.1%
    UNIVERSITY OF MICHIGAN CREDIT UNION $510,000 $155,000 -69.6% 0.1%
    KENT COUNTY CREDIT UNION $260,000 $140,000 -46.2% 0.1%
    GSF Mortgage Corporation $135,000 n/a 0.1%
    Macatawa Bank $105,000 $135,000 28.6% 0.1%
    CIVIC FINANCIAL SERVICES, LLC $485,000 $125,000 -74.2% 0.1%
    ILLINOIS STATE CREDIT UNION $125,000 n/a 0.1%
    T2 FINANCIAL LLC $125,000 n/a 0.1%
    VAN DYK MORTGAGE CORPORATION $125,000 $125,000 0.0% 0.1%
    DEEPHAVEN MORTGAGE LLC $115,000 n/a 0.1%
    NAVY FEDERAL CREDIT UNION $640,000 $110,000 -82.8% 0.1%
    BM Real Estate Services, Inc. $425,000 $105,000 -75.3% 0.1%
    LENDINGHOME FUNDING CORPORATION $420,000 $105,000 -75.0% 0.1%
    HOMESIDE FINANCIAL, LLC $95,000 n/a 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $325,000 $95,000 -70.8% 0.1%
    Cornerstone Bank $85,000 n/a 0.1%
    Discover Bank $85,000 n/a 0.1%
    Wildfire Credit Union $170,000 $85,000 -50.0% 0.1%
    ROYAL UNITED MORTGAGE LLC $75,000 $75,000 0.0% 0.1%
    LONGBRIDGE FINANCIAL, LLC $65,000 n/a 0.1%
    ADVIA $15,000 $45,000 200.0% 0.0%
    Meijer Credit Union $55,000 $45,000 -18.2% 0.0%
    CREDIT UNION ONE $185,000 $35,000 -81.1% 0.0%
    LAFCU $110,000 $35,000 -68.2% 0.0%
    MICHIGAN SCHOOLS AND GOVERNMENT $140,000 $35,000 -75.0% 0.0%
    Coastal Community Bank $25,000 n/a 0.0%
    PREFERRED CREDIT UNION $280,000 $25,000 -91.1% 0.0%
    First Farmers Bank and Trust Company $15,000 n/a 0.0%

    Big Rapids's top lender by overall market share is Isabella Bank, with 13.0% market share. In second place, with 6.8%, is QUICKEN LOANS, LLC, having originated $8,650,000 in loans. In third place, with 6.6%, is The Huntington National Bank, having originated $8,390,000 in loans. In fourth place, with 5.2%, is Neighborhood Loans, Inc., having originated $6,580,000 in loans. In fifth place, with 4.5%, is LAKE MICHIGAN CREDIT UNION, having originated $5,685,000 in loans.

    Big Rapids Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Big Rapids (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 $142,400 (1.8%) $179,622 (-7.3%) 0.00 248
    2018-02-01 $150,575 (5.9%) $188,291 (-7.5%) 0.00 232
    2018-03-01 $159,900 (7.4%) $195,372 (-3.9%) 0.00 242
    2018-04-01 $160,900 (7.3%) $192,707 (-4.9%) 0.00 252
    2018-05-01 $159,950 (6.7%) $190,158 (-4.2%) 0.00 270
    2018-06-01 $164,900 (8.5%) $191,392 (-2.2%) 0.00 273
    2018-07-01 $164,900 (3.1%) $191,342 (-3.4%) 0.00 283
    2018-08-01 $165,000 (9.5%) $191,248 (-0.5%) 0.00 285
    2018-09-01 $159,450 (6.4%) $187,960 (-0.7%) 0.00 286
    2018-10-01 $156,550 (4.4%) $184,010 (-1.7%) 0.00 268
    2018-11-01 $154,900 (3.7%) $178,751 (-2.8%) 0.00 239
    2018-12-01 $149,900 (0.0%) $174,340 (-5.8%) 0.00 230
    2019-01-01 $159,200 (11.8%) $180,673 (0.6%) 0.00 208
    2019-02-01 $160,475 (6.6%) $180,811 (-4.0%) 0.00 195
    2019-03-01 $159,229 (-0.4%) $180,725 (-7.5%) 0.00 193
    2019-04-01 $165,825 (3.1%) $189,553 (-1.6%) 0.00 210
    2019-05-01 $179,425 (12.2%) $203,415 (7.0%) 0.00 226
    2019-06-01 $181,100 (9.8%) $208,580 (9.0%) 0.00 252
    2019-07-01 $180,550 (9.5%) $209,970 (9.7%) 0.00 285
    2019-08-01 $181,018 (9.7%) $211,739 (10.7%) 0.00 290
    2019-09-01 $182,695 (14.6%) $213,951 (13.8%) 0.00 279
    2019-10-01 $185,500 (18.5%) $215,764 (17.3%) 0.00 263
    2019-11-01 $185,750 (19.9%) $219,234 (22.7%) 0.00 225
    2019-12-01 $186,950 (24.7%) $221,387 (27.0%) 0.00 208
    2020-01-01 $183,825 (15.5%) $224,919 (24.5%) 0.00 196
    2020-02-01 $194,900 (21.5%) $232,278 (28.5%) 0.00 183
    2020-03-01 $199,700 (25.4%) $241,783 (33.8%) 0.00 178
    2020-04-01 $198,500 (19.7%) $242,762 (28.1%) 0.00 177
    2020-05-01 $212,450 (18.4%) $252,302 (24.0%) 0.00 170
    2020-06-01 $216,850 (19.7%) $243,959 (17.0%) 0.00 155
    2020-07-01 $216,725 (20.0%) $239,196 (13.9%) 0.00 136
    2020-08-01 $214,900 (18.7%) $246,171 (16.3%) 0.00 120
    2020-09-01 $188,425 (3.1%) $230,086 (7.5%) 0.00 120
    2020-10-01 $179,250 (-3.4%) $225,786 (4.6%) 0.00 102
    2020-11-01 $178,900 (-3.7%) $220,650 (0.7%) 0.00 98
    2020-12-01 $164,900 (-11.8%) $215,286 (-2.8%) 0.00 76
    2021-01-01 $149,950 (-18.4%) $219,522 (-2.4%) 0.00 60
    2021-02-01 $194,425 (-0.2%) $259,166 (11.6%) 0.00 56
    2021-03-01 $213,750 (7.0%) $267,709 (10.7%) 0.00 59
    2021-04-01 $234,725 (18.3%) $267,383 (10.1%) 0.00 73
    2021-05-01 $195,000 (-8.2%) $239,886 (-4.9%) 0.00 80
    2021-06-01 $189,925 (-12.4%) $238,986 (-2.0%) 0.00 95
    2021-07-01 $209,950 (-3.1%) $251,487 (5.1%) 0.00 114
    2021-08-01 $199,675 (-7.1%) $253,115 (2.8%) 0.00 103
    2021-09-01 $188,750 (0.2%) $245,298 (6.6%) 0.00 88
    2021-10-01 $225,000 (25.5%) $256,247 (13.5%) 0.00 94
    2021-11-01 $218,225 (22.0%) $252,535 (14.5%) 0.00 94
    2021-12-01 $178,475 (8.2%) $236,847 (10.0%) 0.00 84
    2022-01-01 $187,250 (24.9%) $229,331 (4.5%) 0.00 79
    2022-02-01 $257,450 (32.4%) $252,396 (-2.6%) 0.00 70
    2022-03-01 $241,225 (12.9%) $254,184 (-5.1%) 0.00 80
    2022-04-01 $245,000 (4.4%) $258,394 (-3.4%) 0.00 86
    2022-05-01 $233,600 (19.8%) $263,740 (9.9%) 0.00 95
    2022-06-01 $249,925 (31.6%) $274,648 (14.9%) 0.00 116
    2022-07-01 $270,000 (28.6%) $309,401 (23.0%) 0.00 119
    2022-08-01 $270,750 (35.6%) $309,973 (22.5%) 0.00 116
    2022-09-01 $266,250 (41.1%) $300,188 (22.4%) 0.00 116
    2022-10-01 $289,900 (28.8%) $313,451 (22.3%) 0.00 110
    2022-11-01 $298,000 (36.6%) $322,439 (27.7%) 0.00 96
    2022-12-01 $299,000 (67.5%) $328,508 (38.7%) 0.00 95
    2023-01-01 $287,000 (53.3%) $326,775 (42.5%) 0.00 77
    2023-02-01 $312,463 (21.4%) $344,975 (36.7%) 0.00 66
    2023-03-01 $309,950 (28.5%) $352,093 (38.5%) 0.00 72
    2023-04-01 $322,500 (31.6%) $361,097 (39.8%) 0.00 76
    2023-05-01 $324,999 (39.1%) $368,672 (39.8%) 0.00 82
    2023-06-01 $316,250 (26.5%) $353,796 (28.8%) 0.00 92
    2023-07-01 $314,900 (16.6%) $340,771 (10.1%) 0.00 104
    2023-08-01 $292,500 (8.0%) $328,770 (6.1%) 0.00 121
    2023-09-01 $289,900 (8.9%) $340,626 (13.5%) 0.00 129
    2023-10-01 $287,225 (-0.9%) $353,780 (12.9%) 0.00 121
    2023-11-01 $280,000 (-6.0%) $358,774 (11.3%) 0.00 107
    2023-12-01 $257,450 (-13.9%) $358,306 (9.1%) 0.00 107
    2024-01-01 $275,800 (-3.9%) $356,465 (9.1%) 0.00 94
    2024-02-01 $283,450 (-9.3%) $348,589 (1.1%) 0.00 91
    2024-03-01 $284,450 (-8.2%) $349,403 (-0.8%) 0.00 101
    2024-04-01 $282,475 (-12.4%) $348,112 (-3.6%) 0.00 123
    2024-05-01 $295,000 (-9.2%) $371,242 (0.7%) 0.00 130
    2024-06-01 $285,000 (-9.9%) $370,913 (4.8%) 0.00 149
    2024-07-01 $286,500 (-9.0%) $367,747 (7.9%) 0.00 153
    2024-08-01 $285,000 (-2.6%) $364,626 (10.9%) 0.00 161
    2024-09-01 $281,225 (-3.0%) $355,510 (4.4%) 0.00 166
    2024-10-01 $289,175 (0.7%) $371,992 (5.2%) 0.00 173
    Big Rapids's median listing price for 2024-10-01 was $289,175, a difference of $1,950 (0.7%) versus the prior year and $7,950 versus the prior month.

    Big Rapids's median listing price comes in at 0% of the national average.

    Big Rapids's average listing price for 2024-10-01 was $371,992, a difference of $18,212 (5.2%) versus the prior year and $16,482 versus the prior month.

    For the 2024-10-01 period, Big Rapids had 173 MLS listings, a difference of 7 listings (4%) versus the prior month and 52 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Big Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,678 sqft
    2018-02-01 0 days 1,697 sqft
    2018-03-01 0 days 1,750 sqft
    2018-04-01 0 days 1,716 sqft
    2018-05-01 0 days 1,691 sqft
    2018-06-01 0 days 1,704 sqft
    2018-07-01 0 days 1,692 sqft
    2018-08-01 0 days 1,719 sqft
    2018-09-01 0 days 1,660 sqft
    2018-10-01 0 days 1,677 sqft
    2018-11-01 0 days 1,604 sqft
    2018-12-01 0 days 1,600 sqft
    2019-01-01 0 days 1,676 sqft
    2019-02-01 0 days 1,653 sqft
    2019-03-01 0 days 1,714 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,843 sqft
    2019-06-01 0 days 1,840 sqft
    2019-07-01 0 days 1,796 sqft
    2019-08-01 0 days 1,792 sqft
    2019-09-01 0 days 1,825 sqft
    2019-10-01 0 days 1,845 sqft
    2019-11-01 0 days 1,836 sqft
    2019-12-01 0 days 1,817 sqft
    2020-01-01 0 days 1,810 sqft
    2020-02-01 0 days 1,843 sqft
    2020-03-01 0 days 1,840 sqft
    2020-04-01 0 days 1,803 sqft
    2020-05-01 0 days 1,909 sqft
    2020-06-01 0 days 1,881 sqft
    2020-07-01 0 days 1,800 sqft
    2020-08-01 0 days 1,872 sqft
    2020-09-01 0 days 1,800 sqft
    2020-10-01 0 days 1,768 sqft
    2020-11-01 0 days 1,750 sqft
    2020-12-01 0 days 1,783 sqft
    2021-01-01 0 days 1,777 sqft
    2021-02-01 0 days 1,959 sqft
    2021-03-01 0 days 1,855 sqft
    2021-04-01 0 days 1,863 sqft
    2021-05-01 0 days 1,871 sqft
    2021-06-01 0 days 1,763 sqft
    2021-07-01 0 days 1,706 sqft
    2021-08-01 0 days 1,672 sqft
    2021-09-01 0 days 1,634 sqft
    2021-10-01 0 days 1,787 sqft
    2021-11-01 0 days 1,699 sqft
    2021-12-01 0 days 1,637 sqft
    2022-01-01 0 days 1,664 sqft
    2022-02-01 0 days 1,681 sqft
    2022-03-01 0 days 1,526 sqft
    2022-04-01 0 days 1,576 sqft
    2022-05-01 0 days 1,626 sqft
    2022-06-01 0 days 1,700 sqft
    2022-07-01 0 days 1,700 sqft
    2022-08-01 0 days 1,666 sqft
    2022-09-01 0 days 1,649 sqft
    2022-10-01 0 days 1,602 sqft
    2022-11-01 0 days 1,637 sqft
    2022-12-01 0 days 1,600 sqft
    2023-01-01 0 days 1,589 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,704 sqft
    2023-04-01 0 days 1,664 sqft
    2023-05-01 0 days 1,780 sqft
    2023-06-01 0 days 1,756 sqft
    2023-07-01 0 days 1,771 sqft
    2023-08-01 0 days 1,853 sqft
    2023-09-01 0 days 1,895 sqft
    2023-10-01 0 days 1,920 sqft
    2023-11-01 0 days 1,892 sqft
    2023-12-01 0 days 1,855 sqft
    2024-01-01 0 days 1,801 sqft
    2024-02-01 0 days 1,769 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,723 sqft
    2024-05-01 0 days 1,797 sqft
    2024-06-01 0 days 1,742 sqft
    2024-07-01 0 days 1,794 sqft
    2024-08-01 0 days 1,728 sqft
    2024-09-01 0 days 1,691 sqft
    2024-10-01 0 days 1,771 sqft
    Big Rapids's median listing age (time on market) for 2024-10-01 was 0 days.

    Big Rapids's median square footage for active listings during the 2024-10-01 period was 1,771 sqft. One year prior, the average listing was 1,920 sqft.

    Big Rapids, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 411 $84,815,000 $206,363
    Home Improvement 115 $8,585,000 $74,652
    Cash Out Refi 89 $15,755,000 $177,022
    Other 86 $7,040,000 $81,860
    Refi 80 $10,290,000 $128,625

    Big Rapids's most frequently cited loan purpose was Home Purchase, with 411 originations. The 2nd most popular reason was Home Improvement, with 115 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 287 $51,985,000 $181,132
    7-8% 195 $31,825,000 $163,205
    Over 8% 154 $13,610,000 $88,377
    5-6% 85 $19,495,000 $229,353
    <2.5% 4 $40,000 $10,000
    4-5% 3 $445,000 $148,333
    2.5-3% 1 $215,000 $215,000

    During 2023, Big Rapids's most frequently originated rate bucket was 6-7%, with 287 originations.

    Loan Sizing (Big Rapids, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 292 $43,260,000 $148,151
    $100,000 or less 285 $15,975,000 $56,053
    $200k-400k 171 $45,355,000 $265,234
    $400k-600k 25 $11,765,000 $470,600
    $600k-1000k 5 $3,735,000 $747,000
    $Over $1MM 3 $6,395,000 $2,131,667

    Big Rapids's loan sizing saw the bucket of loans from $100k-200k with 292 originations, totaling $43,260,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 281 $57,755,000 $205,534
    60-80% 164 $36,840,000 $224,634
    20-40% 119 $9,645,000 $81,050
    Under 20% 87 $3,655,000 $42,011
    40-60% 66 $7,930,000 $120,152
    Over 100% 4 $1,090,000 $272,500

    Big Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 281 originations, totaling $57,755,000 in origination value.