Bradford Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bradford averaged
7.35%
for the week of 2023-11-30, compared to the national average of
7.22% for the same period.
The average rate for the prior week (2023-11-22) was
7.12% and
one month ago for the week of 2023-10-26, the
average rate was 7.82%.
Bradford's average rate one year ago was 6.51%.
For refis of the same type during the week of 2023-11-30, the average rate
was 7.42%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-11-30 | 7.22% |
| Bradford 30 Year Fixed Rate | 2023-11-30 | 7.35% |
| Bradford 30 Year Fixed Rate Refi | 2023-11-30 | 7.42% |
| Bradford 15 Year Fixed Rate | 2023-11-30 | 6.36% |
| Bradford 15 Year Fixed Rate Refi | 2023-11-30 | 6.56% |
| Bradford 30 Year FHA | 2023-11-30 | 6.95% |
| Bradford 30 Year FHA Refi | 2023-11-30 | 7.05% |
| Bradford 30 Year USDA | 2023-11-30 | 6.9% |
| Bradford 30 Year USDA Refi | 2023-11-30 | 6.9% |
| Bradford 30 Year VA | 2023-11-30 | 6.67% |
| Bradford 30 Year VA Refi | 2023-11-30 | 6.57% |
Bradford 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 Bradford, PA 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.).
Bradford Average Closing Costs & Other Stats
Bradford, PA's 31 lenders originated 459
loans during 2022. The total origination value was $51,235,000, with an average loan value of
$111,623.
Bradford's average closing costs are $4,447.
The top Bradford lender as defined by loan originations is Northwest Bank, with
30 loans originated. Their average total fees are
$3,501, which is $2,253
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Bradford lenders (with over 10 loans originated) are
Northwest Bank ($3,501), CNB Bank ($4,087), QUICKEN LOANS, LLC ($5,754), .
The lowest rate Bradford lenders (with over 10 loans originated) are
Northwest Bank (4.86%), CNB Bank (5.26%), QUICKEN LOANS, LLC (5.44%), .
Bradford, PA 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 |
|---|---|---|---|---|
| Northwest Bank | $16,805,000 | $11,325,000 | -32.6% | 22.1% |
| CNB Bank | $13,145,000 | $10,210,000 | -22.3% | 19.9% |
| QUICKEN LOANS, LLC | $13,180,000 | $6,235,000 | -52.7% | 12.2% |
| The Juniata Valley Bank | $870,000 | $2,450,000 | 181.6% | 4.8% |
| Mortgage Research Center, LLC | $685,000 | $2,340,000 | 241.6% | 4.6% |
| PNC Bank | $1,575,000 | $1,965,000 | 24.8% | 3.8% |
| SUCCESS MORTGAGE PARTNERS, INC. | $1,180,000 | n/a | 2.3% | |
| Citizens & Northern Bank | $1,430,000 | $945,000 | -33.9% | 1.8% |
| Community Bank | $985,000 | $835,000 | -15.2% | 1.6% |
| JPMorgan Chase Bank | $45,000 | $775,000 | 1,622.2% | 1.5% |
| PENNSYLVANIA STATE EMPLOYEES Credit Union | $640,000 | $765,000 | 19.5% | 1.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $485,000 | $735,000 | 51.5% | 1.4% |
| AMERISAVE MORTGAGE CORPORATION | $270,000 | $695,000 | 157.4% | 1.4% |
| BROKER SOLUTIONS, INC. | $105,000 | $590,000 | 461.9% | 1.2% |
| Wyndham Capital Mortgage, Inc. | $135,000 | $530,000 | 292.6% | 1.0% |
| USAA Federal Savings Bank | $625,000 | $465,000 | -25.6% | 0.9% |
| Wells Fargo Bank | $800,000 | $460,000 | -42.5% | 0.9% |
| Citizens Bank | $485,000 | $445,000 | -8.2% | 0.9% |
| KeyBank | $180,000 | $445,000 | 147.2% | 0.9% |
| M&T Bank | $115,000 | $375,000 | 226.1% | 0.7% |
| T2 FINANCIAL LLC | $85,000 | $375,000 | 341.2% | 0.7% |
| The Huntington National Bank | $345,000 | n/a | 0.7% | |
| The Federal Savings Bank | $125,000 | $325,000 | 160.0% | 0.6% |
| First Commonwealth Bank | $270,000 | $305,000 | 13.0% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $450,000 | $300,000 | -33.3% | 0.6% |
| 21ST MORTGAGE CORPORATION | $640,000 | $280,000 | -56.3% | 0.5% |
| U.S. Bank | $280,000 | n/a | 0.5% | |
| MidAtlantic Farm Credit, ACA | $270,000 | n/a | 0.5% | |
| NAVY FEDERAL CREDIT UNION | $95,000 | $270,000 | 184.2% | 0.5% |
| NEW DAY FINANCIAL, LLC | $560,000 | $250,000 | -55.4% | 0.5% |
| Bank of England | $85,000 | $240,000 | 182.4% | 0.5% |
| GUILD MORTGAGE COMPANY | $215,000 | n/a | 0.4% | |
| CROSSCOUNTRY MORTGAGE, LLC | $205,000 | n/a | 0.4% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $195,000 | n/a | 0.4% | |
| MOVEMENT MORTGAGE, LLC | $85,000 | $195,000 | 129.4% | 0.4% |
| PHH Mortgage Corporation | $195,000 | n/a | 0.4% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $185,000 | n/a | 0.4% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $255,000 | $185,000 | -27.5% | 0.4% |
| Jersey Shore State Bank | $95,000 | $175,000 | 84.2% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $165,000 | $175,000 | 6.1% | 0.3% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $160,000 | n/a | 0.3% | |
| NFM, INC. | $155,000 | n/a | 0.3% | |
| TOWNE MORTGAGE COMPANY | $145,000 | n/a | 0.3% | |
| UNION HOME MORTGAGE CORP. | $65,000 | $145,000 | 123.1% | 0.3% |
| TIDEWATER MORTGAGE SERVICES, INC. | $315,000 | $135,000 | -57.1% | 0.3% |
| Valley National Bank | $125,000 | $125,000 | 0.0% | 0.2% |
| AFFORDABLE MORTGAGE ADVISORS, LLC. | $115,000 | n/a | 0.2% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $105,000 | n/a | 0.2% | |
| HOME POINT FINANCIAL CORPORATION | $105,000 | n/a | 0.2% | |
| MID AMERICA MORTGAGE, INC. | $105,000 | n/a | 0.2% | |
| Mortgage Network, Inc. | $105,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $290,000 | $105,000 | -63.8% | 0.2% |
| TOP FLITE FINANCIAL, INC. | $95,000 | n/a | 0.2% | |
| First Guaranty Mortgage Corporation | $85,000 | n/a | 0.2% | |
| First National Bank of Pennsylvania | $85,000 | n/a | 0.2% | |
| FREEDOM MORTGAGE CORPORATION | $935,000 | $85,000 | -90.9% | 0.2% |
| Bethpage Federal Credit Union | $75,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $175,000 | $75,000 | -57.1% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $75,000 | n/a | 0.1% | |
| Flagstar Bank, FSB | $75,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $280,000 | $75,000 | -73.2% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $450,000 | $75,000 | -83.3% | 0.1% |
| Elderton State Bank | $205,000 | $65,000 | -68.3% | 0.1% |
| HOMESTEAD FUNDING CORP. | $450,000 | $65,000 | -85.6% | 0.1% |
| COLORADO CREDIT UNION | $55,000 | n/a | 0.1% | |
| TRUMARK FINANCIAL CREDIT UNION | $15,000 | n/a | 0.0% |
Bradford's top lender by overall market share is Northwest Bank, with 22.1% market share. In second place, with 19.9%, is CNB Bank, having originated $10,210,000 in loans. In third place, with 12.2%, is QUICKEN LOANS, LLC, having originated $6,235,000 in loans. In fourth place, with 4.8%, is The Juniata Valley Bank, having originated $2,450,000 in loans. In fifth place, with 4.6%, is Mortgage Research Center, LLC, having originated $2,340,000 in loans.
Bradford, PA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 240 | $31,850,000 | $132,708 |
| Home Improvement | 69 | $4,265,000 | $61,812 |
| Refi | 64 | $6,710,000 | $104,844 |
| Cash Out Refi | 61 | $6,655,000 | $109,098 |
| Other | 25 | $1,755,000 | $70,200 |
Bradford's most frequently cited loan purpose was Home Purchase, with 240 originations. The 2nd most popular reason was Home Improvement, with 69 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 119 | $14,235,000 | $119,622 |
| 5-6% | 115 | $12,365,000 | $107,522 |
| 3-4% | 78 | $8,230,000 | $105,513 |
| 6-7% | 44 | $5,540,000 | $125,909 |
| 7-8% | 26 | $2,470,000 | $95,000 |
| <2.5% | 25 | $2,515,000 | $100,600 |
| 2.5-3% | 24 | $2,900,000 | $120,833 |
| Over 8% | 11 | $465,000 | $42,273 |
During 2022, Bradford's most frequently originated rate bucket was 4-5%, with 119 originations.
Loan Sizing (Bradford, PA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 268 | $16,030,000 | $59,813 |
| $100k-200k | 142 | $20,210,000 | $142,324 |
| $200k-400k | 42 | $10,960,000 | $260,952 |
| $400k-600k | 4 | $1,890,000 | $472,500 |
| $600k-1000k | 3 | $2,145,000 | $715,000 |
Bradford's loan sizing saw the bucket of loans from $100,000 or less with 268 originations, totaling $16,030,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 204 | $27,240,000 | $133,529 |
| 60-80% | 114 | $12,250,000 | $107,456 |
| 20-40% | 52 | $2,740,000 | $52,692 |
| 40-60% | 46 | $4,530,000 | $98,478 |
| Under 20% | 23 | $1,425,000 | $61,957 |
| Over 100% | 2 | $450,000 | $225,000 |
Bradford's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 204 originations, totaling $27,240,000 in origination value.