Brookings Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Brookings averaged
7.14%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.96% and
one month ago for the week of 2024-06-13, the
average rate was 6.92%.
Brookings's average rate one year ago was 7.13%.
For refis of the same type during the week of 2024-07-18, the average rate
was 7.37%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Brookings 30 Year Fixed Rate | 2024-07-18 | 7.14% |
| Brookings 30 Year Fixed Rate Refi | 2024-07-18 | 7.37% |
| Brookings 15 Year Fixed Rate | 2024-07-18 | 5.95% |
| Brookings 15 Year Fixed Rate Refi | 2024-07-18 | 6.35% |
| Brookings 30 Year FHA | 2024-07-18 | 6.39% |
| Brookings 30 Year FHA Refi | 2024-07-18 | 6.59% |
| Brookings 30 Year USDA | 2024-07-18 | 6.63% |
| Brookings 30 Year USDA Refi | 2024-07-18 | 6.63% |
| Brookings 30 Year VA | 2024-07-18 | 6.2% |
| Brookings 30 Year VA Refi | 2024-07-18 | 6.4% |
Brookings 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 Brookings, OR 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.).
Brookings Average Closing Costs & Other Stats
Brookings, OR's 47 lenders originated 362
loans during 2023. The total origination value was $105,550,000, with an average loan value of
$291,575.
Brookings's average closing costs are $5,819.
The top Brookings lender as defined by loan originations is ROGUE, with
27 loans originated. Their average total fees are
$4,826, which is $3,868
lower than the next largest lender,
U.S. Bank.
The lowest fee Brookings lenders (with over 10 loans originated) are
ROGUE ($4,826), U.S. Bank ($8,694), CANOPY MORTGAGE, LLC ($8,780), QUICKEN LOANS, LLC ($10,114) and .
The lowest rate Brookings lenders (with over 10 loans originated) are
U.S. Bank (6.61%), QUICKEN LOANS, LLC (6.65%), CANOPY MORTGAGE, LLC (7.21%), ROGUE (7.31%) and .
Brookings, OR 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 |
|---|---|---|---|---|
| ROGUE | $19,115,000 | $13,105,000 | -31.4% | 12.4% |
| WALKER & DUNLOP, LLC | $9,205,000 | n/a | 8.7% | |
| U.S. Bank | $4,160,000 | $6,655,000 | 60.0% | 6.3% |
| Umpqua Bank | $25,425,000 | $6,645,000 | -73.9% | 6.3% |
| NEWREZ LLC | $5,945,000 | n/a | 5.6% | |
| CANOPY MORTGAGE, LLC | $7,435,000 | $4,825,000 | -35.1% | 4.6% |
| Raymond James Bank | $4,220,000 | n/a | 4.0% | |
| QUICKEN LOANS, LLC | $11,025,000 | $4,180,000 | -62.1% | 4.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $5,025,000 | $3,745,000 | -25.5% | 3.5% |
| GUILD MORTGAGE COMPANY | $2,750,000 | $3,195,000 | 16.2% | 3.0% |
| CMG MORTGAGE, INC. | $1,250,000 | $2,125,000 | 70.0% | 2.0% |
| Nations Lending Corporation | $575,000 | $1,680,000 | 192.2% | 1.6% |
| Evergreen Federal Bank | $1,980,000 | $1,555,000 | -21.5% | 1.5% |
| Morgan Stanley Private Bank | $555,000 | $1,515,000 | 173.0% | 1.4% |
| JPMorgan Chase Bank | $2,730,000 | $1,355,000 | -50.4% | 1.3% |
| EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $1,460,000 | $1,325,000 | -9.2% | 1.3% |
| LOANDEPOT.COM, LLC | $1,720,000 | $1,290,000 | -25.0% | 1.2% |
| HomeStreet Bank | $1,060,000 | $1,250,000 | 17.9% | 1.2% |
| MOVEMENT MORTGAGE, LLC | $325,000 | $1,215,000 | 273.8% | 1.2% |
| Banner Bank | $2,100,000 | $1,160,000 | -44.8% | 1.1% |
| People's Bank of Commerce | $1,145,000 | n/a | 1.1% | |
| PENNYMAC LOAN SERVICES, LLC | $265,000 | $1,105,000 | 317.0% | 1.0% |
| Mortgage Research Center, LLC | $3,575,000 | $1,085,000 | -69.7% | 1.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $650,000 | $955,000 | 46.9% | 0.9% |
| FINANCE OF AMERICA REVERSE LLC | $1,335,000 | $955,000 | -28.5% | 0.9% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $165,000 | $920,000 | 457.6% | 0.9% |
| Wells Fargo Bank | $2,150,000 | $875,000 | -59.3% | 0.8% |
| GUARANTEED RATE, INC. | $255,000 | $770,000 | 202.0% | 0.7% |
| Carrington Mortgage Services, LLC | $690,000 | n/a | 0.7% | |
| BROKER SOLUTIONS, INC. | $2,125,000 | $680,000 | -68.0% | 0.6% |
| Citibank | $235,000 | $665,000 | 183.0% | 0.6% |
| AMERISAVE MORTGAGE CORPORATION | $450,000 | $650,000 | 44.4% | 0.6% |
| DIRECTORS MORTGAGE, INC. | $405,000 | $610,000 | 50.6% | 0.6% |
| LONGBRIDGE FINANCIAL, LLC | $530,000 | $610,000 | 15.1% | 0.6% |
| ADVANCIAL | $605,000 | n/a | 0.6% | |
| BANC ONE MORTGAGE CORPORATION | $595,000 | n/a | 0.6% | |
| Mr. Cooper ( Nationstar Mortgage ) | $1,780,000 | $580,000 | -67.4% | 0.5% |
| 21ST MORTGAGE CORPORATION | $555,000 | $570,000 | 2.7% | 0.5% |
| MORTGAGE EXPRESS, LLC | $520,000 | n/a | 0.5% | |
| Bethpage Federal Credit Union | $505,000 | n/a | 0.5% | |
| State Department Federal Credit Union | $485,000 | n/a | 0.5% | |
| CALCON MUTUAL MORTGAGE LLC | $465,000 | n/a | 0.4% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $450,000 | n/a | 0.4% | |
| PNC Bank | $445,000 | n/a | 0.4% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $435,000 | n/a | 0.4% | |
| V.I.P. MORTGAGE, INC. | $235,000 | $415,000 | 76.6% | 0.4% |
| LAND HOME FINANCIAL SERVICES, INC. | $620,000 | $405,000 | -34.7% | 0.4% |
| The Federal Savings Bank | $405,000 | n/a | 0.4% | |
| ZILLOW HOME LOANS, LLC | $395,000 | $405,000 | 2.5% | 0.4% |
| Bank of England | $385,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $1,935,000 | $385,000 | -80.1% | 0.4% |
| NEW DAY FINANCIAL, LLC | $195,000 | $375,000 | 92.3% | 0.4% |
| ALL REVERSE MORTGAGE, INC. | $365,000 | n/a | 0.3% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $505,000 | $365,000 | -27.7% | 0.3% |
| Equity Prime Mortgage LLC | $365,000 | n/a | 0.3% | |
| Gallic & Johnson, LLC | $155,000 | $355,000 | 129.0% | 0.3% |
| Stockmens Bank | $355,000 | n/a | 0.3% | |
| The Huntington National Bank | $355,000 | n/a | 0.3% | |
| CALIBER HOME LOANS, INC. | $9,225,000 | $345,000 | -96.3% | 0.3% |
| ALLIANT CREDIT UNION | $340,000 | n/a | 0.3% | |
| TWINSTAR | $330,000 | n/a | 0.3% | |
| ACADEMY MORTGAGE CORPORATION | $850,000 | $325,000 | -61.8% | 0.3% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $295,000 | $325,000 | 10.2% | 0.3% |
| Tri Counties Bank | $345,000 | $325,000 | -5.8% | 0.3% |
| Axos Bank | $315,000 | n/a | 0.3% | |
| The Loan Store, Inc. | $315,000 | n/a | 0.3% | |
| Bank of America | $305,000 | n/a | 0.3% | |
| SUMMIT FUNDING, INC. | $2,005,000 | $295,000 | -85.3% | 0.3% |
| FIRST COMMUNITY | $1,050,000 | $285,000 | -72.9% | 0.3% |
| Commerce Home Mortgage, Inc. | $940,000 | $275,000 | -70.7% | 0.3% |
| COAST 2 COAST FUNDING GROUP, INC. | $265,000 | n/a | 0.3% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $605,000 | $255,000 | -57.9% | 0.2% |
| LADERA LENDING, INC. | $405,000 | $245,000 | -39.5% | 0.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $225,000 | $215,000 | -4.4% | 0.2% |
| USAA Federal Savings Bank | $1,360,000 | $195,000 | -85.7% | 0.2% |
| American Airlines Federal Credit Union | $175,000 | n/a | 0.2% | |
| NP, Inc. | $175,000 | n/a | 0.2% | |
| MORTGAGEONE, INC. | $165,000 | n/a | 0.2% | |
| Coastal Community Bank | $135,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $620,000 | $135,000 | -78.2% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $1,170,000 | $130,000 | -88.9% | 0.1% |
| Figure Lending LLC | $125,000 | n/a | 0.1% | |
| MARION AND POLK SCHOOLS CREDIT UNION | $105,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $335,000 | $75,000 | -77.6% | 0.1% |
| TOWER | $75,000 | n/a | 0.1% | |
| IDAHO CENTRAL | $55,000 | n/a | 0.1% | |
| Discover Bank | $35,000 | n/a | 0.0% |
Brookings's top lender by overall market share is ROGUE, with 12.4% market share. In second place, with 8.7%, is WALKER & DUNLOP, LLC, having originated $9,205,000 in loans. In third place, with 6.3%, is U.S. Bank, having originated $6,655,000 in loans. In fourth place, with 6.3%, is Umpqua Bank, having originated $6,645,000 in loans. In fifth place, with 5.6%, is NEWREZ LLC, having originated $5,945,000 in loans.
Brookings, OR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 190 | $78,310,000 | $412,158 |
| Home Improvement | 50 | $5,180,000 | $103,600 |
| Cash Out Refi | 48 | $12,150,000 | $253,125 |
| Other | 47 | $5,735,000 | $122,021 |
| Refi | 27 | $4,175,000 | $154,630 |
Brookings's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Home Improvement, with 50 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 110 | $29,460,000 | $267,818 |
| Over 8% | 104 | $14,650,000 | $140,865 |
| 6-7% | 101 | $41,235,000 | $408,267 |
| 5-6% | 36 | $12,230,000 | $339,722 |
| 4-5% | 3 | $4,705,000 | $1,568,333 |
| 3-4% | 1 | $215,000 | $215,000 |
During 2023, Brookings's most frequently originated rate bucket was 7-8%, with 110 originations.
Loan Sizing (Brookings, OR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 138 | $41,370,000 | $299,783 |
| $100,000 or less | 79 | $4,615,000 | $58,418 |
| $100k-200k | 77 | $10,905,000 | $141,623 |
| $400k-600k | 51 | $24,155,000 | $473,627 |
| $600k-1000k | 12 | $8,670,000 | $722,500 |
| $Over $1MM | 5 | $15,835,000 | $3,167,000 |
Brookings's loan sizing saw the bucket of loans from $200k-400k with 138 originations, totaling $41,370,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 89 | $33,965,000 | $381,629 |
| Under 20% | 82 | $5,480,000 | $66,829 |
| 60-80% | 79 | $28,815,000 | $364,747 |
| 20-40% | 58 | $10,500,000 | $181,034 |
| 40-60% | 45 | $22,575,000 | $501,667 |
| Over 100% | 2 | $1,160,000 | $580,000 |
Brookings's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 89 originations, totaling $33,965,000 in origination value.