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 6.6% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.52% and one month ago for the week of 2023-04-20, the average rate was 6.72%.

    Big Rapids's average rate one year ago was 5.18%.

    For refis of the same type during the week of 2023-05-25, the average rate was 6.87%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Big Rapids 30 Year Fixed Rate 2023-05-25 6.6%
    Big Rapids 30 Year Fixed Rate Refi 2023-05-25 6.87%
    Big Rapids 15 Year Fixed Rate 2023-05-25 5.87%
    Big Rapids 15 Year Fixed Rate Refi 2023-05-25 6.07%
    Big Rapids 30 Year FHA 2023-05-25 6.45%
    Big Rapids 30 Year FHA Refi 2023-05-25 6.61%
    Big Rapids 30 Year USDA 2023-05-25 6.73%
    Big Rapids 30 Year USDA Refi 2023-05-25 6.73%
    Big Rapids 30 Year VA 2023-05-25 6.41%
    Big Rapids 30 Year VA Refi 2023-05-25 6.41%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 43 5.02% $5,608
    LAKE MICHIGAN CREDIT UNION 31 5.07% $2,895
    Neighborhood Loans, Inc. 28 5.70% $4,966
    Isabella Bank 23 4.99% $2,395
    Independent Bank 22 5.63% $2,778
    AMERIFIRST FINANCIAL CORPORATION 22 5.32% $4,437
    The Huntington National Bank 20 4.50% $3,247
    Fifth Third Bank 18 4.99% $3,091
    UNITED WHOLESALE MORTGAGE, LLC 13 6.20% $6,663
    The Dart Bank 9 4.80% $3,439
    MORTGAGE 1 INCORPORATED 9 5.04% $4,054
    TOP FLITE FINANCIAL, INC. 9 5.82% $6,999
    Mercantile Bank of Michigan 8 5.34% $3,212
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 6 4.35% $2,859
    Northpointe Bank 6 5.00% $4,204
    Horizon Bank 6 5.54% $2,644
    Mr. Cooper ( Nationstar Mortgage ) 5 5.08% $7,068
    Wells Fargo Bank 4 4.75% $2,748
    NEWREZ LLC 4 5.90% $5,121
    ChoiceOne Bank 4 5.16% $2,432
    CHURCHILL MORTGAGE CORPORATION 4 5.00% $3,289
    West Michigan Credit Union 4 4.16% $3,443
    CONSUMERS 3 6.13% $2,607
    Flagstar Bank, FSB 3 5.45% $3,399
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.04% $2,559
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.75% $5,786
    BROKER SOLUTIONS, INC. 3 5.62% $5,215
    DOW CHEMICAL EMPLOYEES' 3 5.50% $3,469
    JPMorgan Chase Bank 3 6.29% $3,563
    MICHIGAN MUTUAL, INC. 3 5.33% $5,019
    STAUNTON FINANCIAL, INC. 3 5.29% $3,702
    BETTER MORTGAGE CORPORATION 2 3.06% $4,655
    CROSSCOUNTRY MORTGAGE, LLC 2 4.99% $4,576
    NAVY FEDERAL CREDIT UNION 2 4.56% $1,440
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.13% $7,381
    LOANDEPOT.COM, LLC 2 5.13% $12,927
    MEMBERS FIRST Credit Union 2 5.81% $2,513
    Michigan Educational Credit Union 2 4.94% $3,289
    MICHIGAN FIRST CREDIT UNION 2 7.00% $5,553
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.13% $11,440
    Grand River Bank 2 5.19% $2,878
    Commercial Bank 2 3.44% $3,122
    PNC Bank 2 5.81% $3,855
    GUARANTEED RATE, INC. 2 6.19% $4,629
    CALIBER HOME LOANS, INC. 2 4.72% $3,461
    Old National Bank 2 5.88% $3,278
    FINANCE OF AMERICA MORTGAGE LLC 2 4.81% $3,613
    INLANTA MORTGAGE, INC. 2 4.88% $3,074
    Wildfire Credit Union 1 6.25% $2,138
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 3.38% $1,393
    ARBOR FINANCIAL CREDIT UNION 1 6.00% $3,112
    BLG HOLDINGS, INC. 1 4.75% $3,243
    CARDINAL FINANCIAL 1 4.63% $2,404
    Citizens Bank 1 3.88% $5,670
    CREDIT UNION ONE 1 3.88% $3,182
    DFCU FINANCIAL 1 4.88% $4,933
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $5,104
    First Federal Bank of the Midwest 1 3.50% $3,209
    FIRST HERITAGE FINANCIAL, LLC 1 5.85% $4,433
    First Merchants Bank 1 5.63% $7,313
    FREEDOM MORTGAGE CORPORATION 1 3.38% $6,608
    GREENSTATE CREDIT UNION 1 5.50% $2,907
    GreenStone Farm Credit Services, FLCA 1 7.85% $5,400
    GVC MORTGAGE, INC. 1 5.63% $8,817
    J. VIRGIL, INC. 1 5.50% $7,505
    KENT COUNTY CREDIT UNION 1 4.25% $1,806
    LAKEVIEW LOAN SERVICING, LLC 1 4.38% $1,642
    Mortgage Research Center, LLC 1 4.50% $9,665
    NBKC BANK 1 7.63% $4,609
    NEXERA HOLDING LLC 1 8.50% $10,458
    NORTHERN MORTGAGE SERVICES, LLC 1 4.88% $4,167
    PENNYMAC LOAN SERVICES, LLC 1 5.62% $4,384
    PFCU 1 3.88% $2,534
    PREFERRED CREDIT UNION 1 6.13% $5,631
    ROYAL UNITED MORTGAGE LLC 1 5.50% $5,996
    Semper Home Loans, Inc. 1 6.00% $2,106
    TOWNE MORTGAGE COMPANY 1 5.38% $2,711
    UNION HOME MORTGAGE CORP. 1 7.13% $4,455
    UNITED 1 6.13% $4,852
    UNIVERSITY OF MICHIGAN CREDIT UNION 1 4.38% $3,153
    ACADEMY MORTGAGE CORPORATION 1 4.25% $3,975

    Big Rapids Average Closing Costs & Other Stats

    Big Rapids, MI's 81 lenders originated 1,114 loans during 2022. The total origination value was $175,730,000, with an average loan value of $157,747.

    Big Rapids's average closing costs are $3,828.

    The top Big Rapids lender as defined by loan originations is QUICKEN LOANS, LLC, with 43 loans originated. Their average total fees are $5,608, which is $2,712 higher than the next largest lender, LAKE MICHIGAN CREDIT UNION.

    The lowest fee Big Rapids lenders (with over 10 loans originated) are Isabella Bank ($2,395), Independent Bank ($2,778), LAKE MICHIGAN CREDIT UNION ($2,895), Fifth Third Bank ($3,091) and The Huntington National Bank ($3,247).

    The lowest rate Big Rapids lenders (with over 10 loans originated) are The Huntington National Bank (4.50%), Fifth Third Bank (4.99%), Isabella Bank (4.99%), QUICKEN LOANS, LLC (5.02%) and LAKE MICHIGAN CREDIT UNION (5.07%).

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Isabella Bank $23,220,000 $22,355,000 -3.7% 12.7%
    QUICKEN LOANS, LLC $25,540,000 $13,915,000 -45.5% 7.9%
    LAKE MICHIGAN CREDIT UNION $19,545,000 $9,935,000 -49.2% 5.7%
    The Huntington National Bank $14,345,000 $9,815,000 -31.6% 5.6%
    Fifth Third Bank $11,955,000 $8,745,000 -26.9% 5.0%
    Neighborhood Loans, Inc. $10,525,000 $8,715,000 -17.2% 5.0%
    Independent Bank $9,220,000 $7,665,000 -16.9% 4.4%
    UNITED WHOLESALE MORTGAGE, LLC $8,645,000 $6,440,000 -25.5% 3.7%
    AMERIFIRST FINANCIAL CORPORATION $8,360,000 $6,110,000 -26.9% 3.5%
    Horizon Bank $570,000 $5,535,000 871.1% 3.1%
    TOP FLITE FINANCIAL, INC. $6,115,000 $4,260,000 -30.3% 2.4%
    Mercantile Bank of Michigan $8,045,000 $3,220,000 -60.0% 1.8%
    MORTGAGE 1 INCORPORATED $3,095,000 $2,545,000 -17.8% 1.4%
    Mortgage Research Center, LLC $3,640,000 $2,505,000 -31.2% 1.4%
    The Dart Bank $855,000 $2,360,000 176.0% 1.3%
    Flagstar Bank, FSB $2,035,000 $2,310,000 13.5% 1.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $2,215,000 $2,200,000 -0.7% 1.3%
    FREEDOM MORTGAGE CORPORATION $1,860,000 $2,080,000 11.8% 1.2%
    CONSUMERS $2,400,000 $1,775,000 -26.0% 1.0%
    PNC Bank $970,000 $1,680,000 73.2% 1.0%
    COMMUNITY FIRST $4,235,000 $1,645,000 -61.2% 0.9%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $860,000 $1,595,000 85.5% 0.9%
    West Michigan Credit Union $4,825,000 $1,530,000 -68.3% 0.9%
    Northpointe Bank $805,000 $1,505,000 87.0% 0.9%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,550,000 $1,475,000 -4.8% 0.8%
    LOANDEPOT.COM, LLC $1,795,000 $1,470,000 -18.1% 0.8%
    NEWREZ LLC $2,225,000 $1,185,000 -46.7% 0.7%
    Wells Fargo Bank $2,120,000 $1,115,000 -47.4% 0.6%
    GreenStone Farm Credit Services, FLCA $3,320,000 $1,075,000 -67.6% 0.6%
    SUCCESS MORTGAGE PARTNERS, INC. $1,235,000 $1,075,000 -13.0% 0.6%
    CHURCHILL MORTGAGE CORPORATION $2,330,000 $1,070,000 -54.1% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $4,170,000 $1,050,000 -74.8% 0.6%
    STAUNTON FINANCIAL, INC. $340,000 $980,000 188.2% 0.6%
    CROSSCOUNTRY MORTGAGE, LLC $165,000 $955,000 478.8% 0.5%
    MICHIGAN MUTUAL, INC. $685,000 $880,000 28.5% 0.5%
    J. VIRGIL, INC. $895,000 $845,000 -5.6% 0.5%
    PENNYMAC LOAN SERVICES, LLC $1,185,000 $830,000 -30.0% 0.5%
    UNION HOME MORTGAGE CORP. $2,450,000 $830,000 -66.1% 0.5%
    DOW CHEMICAL EMPLOYEES' $105,000 $775,000 638.1% 0.4%
    ChoiceOne Bank $1,045,000 $680,000 -34.9% 0.4%
    FINANCE OF AMERICA MORTGAGE LLC $1,770,000 $670,000 -62.1% 0.4%
    BROKER SOLUTIONS, INC. $970,000 $655,000 -32.5% 0.4%
    NAVY FEDERAL CREDIT UNION $1,480,000 $640,000 -56.8% 0.4%
    BLG HOLDINGS, INC. $570,000 $635,000 11.4% 0.4%
    GUARANTEED RATE, INC. $1,155,000 $610,000 -47.2% 0.3%
    BETTER MORTGAGE CORPORATION $1,780,000 $605,000 -66.0% 0.3%
    GVC MORTGAGE, INC. $415,000 $595,000 43.4% 0.3%
    JPMorgan Chase Bank $2,930,000 $540,000 -81.6% 0.3%
    STOCKTON MORTGAGE CORPORATION $390,000 $520,000 33.3% 0.3%
    UNIVERSITY OF MICHIGAN CREDIT UNION $510,000 n/a 0.3%
    MICHIGAN FIRST CREDIT UNION $395,000 $495,000 25.3% 0.3%
    CIVIC FINANCIAL SERVICES, LLC $485,000 n/a 0.3%
    Grand River Bank $90,000 $470,000 422.2% 0.3%
    Old National Bank $355,000 $470,000 32.4% 0.3%
    AMERICAN FINANCIAL RESOURCES, INC. $680,000 $460,000 -32.4% 0.3%
    WINGS FINANCIAL $445,000 n/a 0.3%
    AMERISAVE MORTGAGE CORPORATION $2,265,000 $440,000 -80.6% 0.3%
    NEXERA HOLDING LLC $435,000 n/a 0.2%
    BM Real Estate Services, Inc. $1,120,000 $425,000 -62.1% 0.2%
    LENDINGHOME FUNDING CORPORATION $85,000 $420,000 394.1% 0.2%
    Citizens Bank $975,000 $415,000 -57.4% 0.2%
    United Bank of Michigan $735,000 $410,000 -44.2% 0.2%
    Carrington Mortgage Services, LLC $415,000 $400,000 -3.6% 0.2%
    COMMUNITY FINANCIAL CREDIT UNION $140,000 $400,000 185.7% 0.2%
    MORTGAGE ACCESS CORP. $395,000 n/a 0.2%
    AMERICAN FINANCING CORPORATION $165,000 $390,000 136.4% 0.2%
    Preston Home Loans Inc $95,000 $390,000 310.5% 0.2%
    CALIBER HOME LOANS, INC. $1,980,000 $385,000 -80.6% 0.2%
    21ST MORTGAGE CORPORATION $240,000 $370,000 54.2% 0.2%
    Michigan Educational Credit Union $125,000 $370,000 196.0% 0.2%
    Commercial Bank $75,000 $350,000 366.7% 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $985,000 $335,000 -66.0% 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $620,000 $325,000 -47.6% 0.2%
    First Federal Bank of the Midwest $315,000 n/a 0.2%
    DFCU FINANCIAL $820,000 $300,000 -63.4% 0.2%
    INLANTA MORTGAGE, INC. $1,640,000 $300,000 -81.7% 0.2%
    NEW DAY FINANCIAL, LLC $475,000 $300,000 -36.8% 0.2%
    ZILLOW HOME LOANS, LLC $440,000 $295,000 -33.0% 0.2%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $180,000 $285,000 58.3% 0.2%
    Hometown Lenders, Inc. $605,000 $285,000 -52.9% 0.2%
    NBKC BANK $285,000 n/a 0.2%
    Barrington Bank & Trust Company, N.A. $45,000 $280,000 522.2% 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $205,000 $280,000 36.6% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $1,335,000 $280,000 -79.0% 0.2%
    PREFERRED CREDIT UNION $280,000 n/a 0.2%
    North American Savings Bank, F.S.B. $570,000 $275,000 -51.8% 0.2%
    First Merchants Bank $270,000 n/a 0.2%
    Adventure Credit Union $490,000 $265,000 -45.9% 0.2%
    KENT COUNTY CREDIT UNION $115,000 $260,000 126.1% 0.1%
    MEMBERS FIRST Credit Union $715,000 $260,000 -63.6% 0.1%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $255,000 n/a 0.1%
    ACADEMY MORTGAGE CORPORATION $395,000 $250,000 -36.7% 0.1%
    Wyndham Capital Mortgage, Inc. $235,000 n/a 0.1%
    Highpoint Community Bank $415,000 $225,000 -45.8% 0.1%
    PENTAGON FEDERAL CREDIT UNION $215,000 n/a 0.1%
    CANOPY MORTGAGE, LLC $205,000 n/a 0.1%
    Ixonia Bank $205,000 n/a 0.1%
    Semper Home Loans, Inc. $205,000 n/a 0.1%
    Bank of America $615,000 $195,000 -68.3% 0.1%
    RELIANCE FIRST CAPITAL, LLC $195,000 n/a 0.1%
    VILLAGE CAPITAL MORTGAGE $1,110,000 $195,000 -82.4% 0.1%
    ARBOR FINANCIAL CREDIT UNION $550,000 $190,000 -65.5% 0.1%
    CREDIT UNION ONE $315,000 $185,000 -41.3% 0.1%
    Paramount Residential Mortgage Group, Inc. $270,000 $185,000 -31.5% 0.1%
    EMM LOANS LLC $175,000 n/a 0.1%
    JOLT CREDIT UNION $175,000 n/a 0.1%
    PLANET HOME LENDING, LLC $175,000 n/a 0.1%
    UNITED $175,000 n/a 0.1%
    USAA Federal Savings Bank $340,000 $175,000 -48.5% 0.1%
    Wildfire Credit Union $170,000 n/a 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $165,000 n/a 0.1%
    U.S. Bank $470,000 $160,000 -66.0% 0.1%
    Comerica Bank $125,000 $155,000 24.0% 0.1%
    HOME POINT FINANCIAL CORPORATION $855,000 $155,000 -81.9% 0.1%
    PHH Mortgage Corporation $380,000 $155,000 -59.2% 0.1%
    NATIONS DIRECT MORTGAGE, LLC $145,000 n/a 0.1%
    MICHIGAN SCHOOLS AND GOVERNMENT $415,000 $140,000 -66.3% 0.1%
    SPRING EQ, LLC $140,000 n/a 0.1%
    EVERETT FINANCIAL, INC. $135,000 n/a 0.1%
    GREENSTATE CREDIT UNION $135,000 n/a 0.1%
    NORTHERN MORTGAGE SERVICES, LLC $870,000 $135,000 -84.5% 0.1%
    LIMA ONE CAPITAL, LLC $190,000 $125,000 -34.2% 0.1%
    PFCU $125,000 n/a 0.1%
    VAN DYK MORTGAGE CORPORATION $710,000 $125,000 -82.4% 0.1%
    AAC Credit Union $330,000 $115,000 -65.2% 0.1%
    LENDINGONE, LLC $115,000 n/a 0.1%
    LAFCU $165,000 $110,000 -33.3% 0.1%
    BLUELEAF LENDING, LLC $105,000 n/a 0.1%
    Honor Credit Union $45,000 $105,000 133.3% 0.1%
    LIBERTY HOME MORTGAGE CORPORATION $105,000 n/a 0.1%
    Macatawa Bank $310,000 $105,000 -66.1% 0.1%
    SOFI LENDING CORP. $380,000 $105,000 -72.4% 0.1%
    FIRST HERITAGE FINANCIAL, LLC $95,000 n/a 0.1%
    MICHIGAN ONE COMMUNITY Credit Union $145,000 $95,000 -34.5% 0.1%
    ELGA CREDIT UNION $135,000 $90,000 -33.3% 0.1%
    TOWNE MORTGAGE COMPANY $1,105,000 $85,000 -92.3% 0.0%
    AMERICAN ADVISORS GROUP $250,000 $75,000 -70.0% 0.0%
    Lake Trust Credit Union $75,000 n/a 0.0%
    LOANPAL, LLC $85,000 $75,000 -11.8% 0.0%
    ROYAL UNITED MORTGAGE LLC $545,000 $75,000 -86.2% 0.0%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $65,000 n/a 0.0%
    Meijer Credit Union $55,000 n/a 0.0%
    Third Federal Savings and Loan Association of Cleveland $55,000 n/a 0.0%
    TLC COMMUNITY Credit Union $55,000 n/a 0.0%
    Deere Employees Credit Union $265,000 $45,000 -83.0% 0.0%
    Eaton Community Bank $215,000 $45,000 -79.1% 0.0%
    COMMUNITY CHOICE CREDIT UNION $25,000 n/a 0.0%
    ADVIA $15,000 n/a 0.0%
    Community West Credit Union $390,000 $15,000 -96.2% 0.0%

    Big Rapids's top lender by overall market share is Isabella Bank, with 12.7% market share. In second place, with 7.9%, is QUICKEN LOANS, LLC, having originated $13,915,000 in loans. In third place, with 5.7%, is LAKE MICHIGAN CREDIT UNION, having originated $9,935,000 in loans. In fourth place, with 5.6%, is The Huntington National Bank, having originated $9,815,000 in loans. In fifth place, with 5.0%, is Fifth Third Bank, having originated $8,745,000 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 $143,675 (2.7%) $179,623 (-7.3%) 0.00 249
    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 (10.8%) $180,673 (0.6%) 0.00 208
    2019-02-01 $160,475 (6.6%) $180,811 (-4.0%) 0.00 195
    2019-03-01 $165,000 (3.2%) $186,672 (-4.5%) 0.00 192
    2019-04-01 $165,999 (3.2%) $191,168 (-0.8%) 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 $179,900 (9.0%) $211,615 (10.7%) 0.00 303
    2019-09-01 $181,000 (13.5%) $213,499 (13.6%) 0.00 277
    2019-10-01 $185,500 (18.5%) $216,645 (17.7%) 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 (21.0%) $241,783 (29.5%) 0.00 178
    2020-04-01 $198,500 (19.6%) $242,762 (27.0%) 0.00 177
    2020-05-01 $212,450 (18.4%) $252,312 (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 (19.5%) $246,171 (16.3%) 0.00 120
    2020-09-01 $188,425 (4.1%) $230,086 (7.8%) 0.00 120
    2020-10-01 $179,250 (-3.4%) $225,786 (4.2%) 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 $253,725 (30.5%) $252,156 (-2.7%) 0.00 70
    2022-03-01 $241,225 (12.9%) $254,184 (-5.1%) 0.00 80
    2022-04-01 $244,950 (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 $248,675 (30.9%) $274,435 (14.8%) 0.00 117
    2022-07-01 $269,500 (28.4%) $309,401 (23.0%) 0.00 119
    2022-08-01 $270,750 (35.6%) $309,973 (22.5%) 0.00 116
    2022-09-01 $266,875 (41.4%) $301,917 (23.1%) 0.00 115
    2022-10-01 $292,450 (30.0%) $315,494 (23.1%) 0.00 109
    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 (23.2%) $344,975 (36.8%) 0.00 66
    2023-03-01 $309,950 (28.5%) $352,093 (38.5%) 0.00 72
    2023-04-01 $322,200 (31.5%) $361,097 (39.8%) 0.00 77
    Big Rapids's median listing price for 2023-04-01 was $322,200, a difference of $77,250 (31.5%) versus the prior year and $12,250 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 2023-04-01 was $361,097, a difference of $102,703 (39.8%) versus the prior year and $9,004 versus the prior month.

    For the 2023-04-01 period, Big Rapids had 77 MLS listings, a difference of 5 listings (7%) versus the prior month and -9 listings (-10%) 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 1,676 sqft
    2018-02-01 0 days 1,703 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 1,747 sqft
    2019-04-01 0 days 1,803 sqft
    2019-05-01 0 days 1,843 sqft
    2019-06-01 0 days 1,840 sqft
    2019-07-01 0 days 1,794 sqft
    2019-08-01 0 days 1,800 sqft
    2019-09-01 0 days 1,840 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 1,895 sqft
    2020-06-01 0 days 1,865 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 1,656 sqft
    2022-03-01 0 days 1,526 sqft
    2022-04-01 0 days 1,553 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 1,655 sqft
    2022-10-01 0 days 1,603 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
    Big Rapids's median listing age (time on market) for 2023-04-01 was 0 days.

    Big Rapids's median square footage for active listings during the 2023-04-01 period was 1,664 sqft. One year prior, the average listing was 1,553 sqft.

    Big Rapids, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 544 $111,360,000 $204,706
    Cash Out Refi 185 $25,655,000 $138,676
    Refi 154 $18,470,000 $119,935
    Home Improvement 145 $13,065,000 $90,103
    Other 86 $7,180,000 $83,488

    Big Rapids's most frequently cited loan purpose was Home Purchase, with 544 originations. The 2nd most popular reason was Cash Out Refi, with 185 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 283 $44,855,000 $158,498
    4-5% 238 $39,480,000 $165,882
    3-4% 213 $31,625,000 $148,474
    6-7% 142 $30,460,000 $214,507
    2.5-3% 62 $9,460,000 $152,581
    7-8% 47 $6,235,000 $132,660
    <2.5% 34 $4,470,000 $131,471
    Over 8% 25 $1,875,000 $75,000

    During 2022, Big Rapids's most frequently originated rate bucket was 5-6%, with 283 originations.

    Loan Sizing (Big Rapids, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 488 $70,660,000 $144,795
    $100,000 or less 375 $22,255,000 $59,347
    $200k-400k 216 $57,890,000 $268,009
    $400k-600k 32 $14,840,000 $463,750
    $Over $1MM 2 $9,460,000 $4,730,000
    $600k-1000k 1 $625,000 $625,000

    Big Rapids's loan sizing saw the bucket of loans from $100k-200k with 488 originations, totaling $70,660,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 381 $75,685,000 $198,648
    60-80% 275 $54,475,000 $198,091
    20-40% 152 $12,130,000 $79,803
    40-60% 133 $19,185,000 $144,248
    Under 20% 87 $3,295,000 $37,874
    Over 100% 8 $2,700,000 $337,500

    Big Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 381 originations, totaling $75,685,000 in origination value.