Cambridge Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cambridge averaged
6.93%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
6.87% and
one month ago for the week of 2023-08-10, the
average rate was 6.81%.
Cambridge's average rate one year ago was 5.94%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.28%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Cambridge 30 Year Fixed Rate | 2023-09-14 | 6.93% |
| Cambridge 30 Year Fixed Rate Refi | 2023-09-14 | 7.28% |
| Cambridge 15 Year Fixed Rate | 2023-09-14 | 6.41% |
| Cambridge 15 Year Fixed Rate Refi | 2023-09-14 | 6.81% |
| Cambridge 30 Year FHA | 2023-09-14 | 6.41% |
| Cambridge 30 Year FHA Refi | 2023-09-14 | 6.79% |
| Cambridge 30 Year USDA | 2023-09-14 | 7.08% |
| Cambridge 30 Year USDA Refi | 2023-09-14 | 7.08% |
| Cambridge 30 Year VA | 2023-09-14 | 7.01% |
| Cambridge 30 Year VA Refi | 2023-09-14 | 6.81% |
Cambridge 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 Cambridge, MD 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.).
Cambridge Average Closing Costs & Other Stats
Cambridge, MD's 94 lenders originated 905
loans during 2022. The total origination value was $203,445,000, with an average loan value of
$224,801.
Cambridge's average closing costs are $5,645.
The top Cambridge lender as defined by loan originations is QUICKEN LOANS, LLC, with
34 loans originated. Their average total fees are
$6,349, which is $579
lower than the next largest lender,
FIRST HOME MORTGAGE CORPORATION.
The lowest fee Cambridge lenders (with over 10 loans originated) are
HOME POINT FINANCIAL CORPORATION ($4,385), ACADEMY MORTGAGE CORPORATION ($4,499), Truist ($4,637), NVR Mortgage Finance, Inc. ($4,841) and QUICKEN LOANS, LLC ($6,349).
The lowest rate Cambridge lenders (with over 10 loans originated) are
HOME POINT FINANCIAL CORPORATION (4.36%), NVR Mortgage Finance, Inc. (4.59%), Truist (4.61%), FIRST HOME MORTGAGE CORPORATION (5.07%) and QUICKEN LOANS, LLC (5.15%).
Cambridge, MD 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 |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $29,775,000 | $13,280,000 | -55.4% | 6.5% |
| NVR Mortgage Finance, Inc. | $11,730,000 | n/a | 5.8% | |
| FIRST HOME MORTGAGE CORPORATION | $13,265,000 | $10,070,000 | -24.1% | 4.9% |
| Truist | $6,140,000 | $7,185,000 | 17.0% | 3.5% |
| HOME POINT FINANCIAL CORPORATION | $21,760,000 | $7,005,000 | -67.8% | 3.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $6,885,000 | $6,350,000 | -7.8% | 3.1% |
| STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED | $7,965,000 | $4,730,000 | -40.6% | 2.3% |
| Hebron Savings Bank | $2,060,000 | $4,725,000 | 129.4% | 2.3% |
| M&T Bank | $2,575,000 | $4,270,000 | 65.8% | 2.1% |
| ACADEMY MORTGAGE CORPORATION | $2,870,000 | $4,170,000 | 45.3% | 2.0% |
| GUARANTEED RATE, INC. | $3,945,000 | $4,095,000 | 3.8% | 2.0% |
| DHI MORTGAGE COMPANY, LTD. | $3,905,000 | n/a | 1.9% | |
| Bank of America | $8,505,000 | $3,770,000 | -55.7% | 1.9% |
| The Queenstown Bank of Maryland | $3,970,000 | $3,235,000 | -18.5% | 1.6% |
| Shore United Bank | $3,635,000 | $3,110,000 | -14.4% | 1.5% |
| Wells Fargo Bank | $5,605,000 | $2,685,000 | -52.1% | 1.3% |
| NFM, INC. | $1,105,000 | $2,665,000 | 141.2% | 1.3% |
| Mortgage Network, Inc. | $4,185,000 | $2,650,000 | -36.7% | 1.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $4,550,000 | $2,645,000 | -41.9% | 1.3% |
| SOUTHERN TRUST MORTGAGE, LLC | $9,680,000 | $2,505,000 | -74.1% | 1.2% |
| Mortgage Research Center, LLC | $1,735,000 | $2,460,000 | 41.8% | 1.2% |
| Meridian Bank Corporation | $390,000 | $2,455,000 | 529.5% | 1.2% |
| MCLEAN MORTGAGE CORPORATION | $9,390,000 | $2,390,000 | -74.5% | 1.2% |
| ENVOY MORTGAGE, LTD | $2,310,000 | n/a | 1.1% | |
| CALIBER HOME LOANS, INC. | $2,235,000 | $2,230,000 | -0.2% | 1.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,125,000 | $2,120,000 | -32.2% | 1.0% |
| WesBanco Bank, Inc. | $235,000 | $2,055,000 | 774.5% | 1.0% |
| FREEDOM MORTGAGE CORPORATION | $7,065,000 | $2,050,000 | -71.0% | 1.0% |
| Prosperity Home Mortgage, LLC | $1,590,000 | $1,965,000 | 23.6% | 1.0% |
| Provident State Bank, Inc. | $8,955,000 | $1,965,000 | -78.1% | 1.0% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $1,850,000 | n/a | 0.9% | |
| PENNYMAC LOAN SERVICES, LLC | $3,105,000 | $1,755,000 | -43.5% | 0.9% |
| LOANDEPOT.COM, LLC | $4,130,000 | $1,735,000 | -58.0% | 0.9% |
| GUARANTEED RATE AFFINITY, LLC | $1,280,000 | $1,650,000 | 28.9% | 0.8% |
| EMBRACE HOME LOANS, INC. | $2,010,000 | $1,640,000 | -18.4% | 0.8% |
| BAY CAPITAL MORTGAGE CORPORATION | $3,940,000 | $1,615,000 | -59.0% | 0.8% |
| MOVEMENT MORTGAGE, LLC | $2,990,000 | $1,580,000 | -47.2% | 0.8% |
| TOWER | $1,525,000 | $1,515,000 | -0.7% | 0.7% |
| Fulton Bank | $1,065,000 | $1,455,000 | 36.6% | 0.7% |
| NEW DAY FINANCIAL, LLC | $970,000 | $1,425,000 | 46.9% | 0.7% |
| The Farmers Bank of Willards | $255,000 | $1,405,000 | 451.0% | 0.7% |
| DIRECT MORTGAGE LOANS, LLC | $1,795,000 | $1,380,000 | -23.1% | 0.7% |
| NEWREZ LLC | $2,675,000 | $1,320,000 | -50.7% | 0.6% |
| TIDEWATER MORTGAGE SERVICES, INC. | $2,750,000 | $1,320,000 | -52.0% | 0.6% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,065,000 | $1,235,000 | 16.0% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $3,070,000 | $1,205,000 | -60.7% | 0.6% |
| George Mason Mortgage, LLC | $955,000 | $1,200,000 | 25.7% | 0.6% |
| Ally Bank | $1,175,000 | n/a | 0.6% | |
| Towne Bank | $1,715,000 | $1,155,000 | -32.7% | 0.6% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,900,000 | $1,110,000 | -41.6% | 0.5% |
| Nations Lending Corporation | $1,995,000 | $1,065,000 | -46.6% | 0.5% |
| Citizens Bank | $365,000 | $1,060,000 | 190.4% | 0.5% |
| DRAPER AND KRAMER MORTGAGE CORP. | $145,000 | $1,045,000 | 620.7% | 0.5% |
| MidAtlantic Farm Credit, ACA | $1,050,000 | $1,025,000 | -2.4% | 0.5% |
| BROKER SOLUTIONS, INC. | $505,000 | $1,015,000 | 101.0% | 0.5% |
| FIRST SAVINGS MORTGAGE CORPORATION | $1,140,000 | $1,005,000 | -11.8% | 0.5% |
| Presidential Bank, FSB | $490,000 | $1,005,000 | 105.1% | 0.5% |
| ROUNDPOINT MORTGAGE SERVICING CORPORATION | $335,000 | $1,000,000 | 198.5% | 0.5% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,390,000 | $965,000 | -30.6% | 0.5% |
| HOMESIDE FINANCIAL, LLC | $1,175,000 | $880,000 | -25.1% | 0.4% |
| PNC Bank | $2,660,000 | $870,000 | -67.3% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $4,395,000 | $805,000 | -81.7% | 0.4% |
| City National Bank | $805,000 | n/a | 0.4% | |
| Rosedale Federal Savings and Loan Association | $805,000 | n/a | 0.4% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $760,000 | $795,000 | 4.6% | 0.4% |
| CONTOUR MORTGAGE CORPORATION | $790,000 | n/a | 0.4% | |
| THE MORTGAGE LINK, INC. | $790,000 | n/a | 0.4% | |
| Carrington Mortgage Services, LLC | $1,710,000 | $720,000 | -57.9% | 0.4% |
| LAKEVIEW LOAN SERVICING, LLC | $670,000 | $720,000 | 7.5% | 0.4% |
| PENTAGON FEDERAL CREDIT UNION | $1,180,000 | $715,000 | -39.4% | 0.4% |
| Equity Prime Mortgage LLC | $155,000 | $710,000 | 358.1% | 0.3% |
| Flagstar Bank, FSB | $1,030,000 | $675,000 | -34.5% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $2,640,000 | $665,000 | -74.8% | 0.3% |
| NATIONS DIRECT MORTGAGE, LLC | $450,000 | $655,000 | 45.6% | 0.3% |
| First Heritage Mortgage, LLC | $135,000 | $645,000 | 377.8% | 0.3% |
| HOMESPIRE MORTGAGE CORPORATION | $985,000 | $620,000 | -37.1% | 0.3% |
| JPMorgan Chase Bank | $3,095,000 | $620,000 | -80.0% | 0.3% |
| Sandy Spring Bank | $565,000 | $605,000 | 7.1% | 0.3% |
| NexBank | $595,000 | n/a | 0.3% | |
| Plains Commerce Bank | $255,000 | $595,000 | 133.3% | 0.3% |
| EMM LOANS LLC | $1,210,000 | $590,000 | -51.2% | 0.3% |
| First National Bank of Pennsylvania | $550,000 | n/a | 0.3% | |
| First Shore Federal Savings and Loan Association | $80,000 | $515,000 | 543.8% | 0.3% |
| Capital Bank | $285,000 | $510,000 | 78.9% | 0.3% |
| PARTNERS 1ST Federal Credit Union | $3,200,000 | $500,000 | -84.4% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $4,210,000 | $500,000 | -88.1% | 0.2% |
| The Federal Savings Bank | $725,000 | $455,000 | -37.2% | 0.2% |
| 1ST PREFERENCE MORTGAGE CORP. | $215,000 | $450,000 | 109.3% | 0.2% |
| SUCCESS MORTGAGE PARTNERS, INC. | $450,000 | n/a | 0.2% | |
| BNC National Bank | $445,000 | n/a | 0.2% | |
| FIRST FINANCIAL OF MARYLAND | $145,000 | $445,000 | 206.9% | 0.2% |
| Northwest Federal Credit Union | $235,000 | $435,000 | 85.1% | 0.2% |
| EVERETT FINANCIAL, INC. | $425,000 | n/a | 0.2% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,050,000 | $420,000 | -60.0% | 0.2% |
| ON Q FINANCIAL, INC. | $1,045,000 | $415,000 | -60.3% | 0.2% |
| Sunflower Bank | $410,000 | n/a | 0.2% | |
| U.S. Bank | $200,000 | $400,000 | 100.0% | 0.2% |
| BAY EQUITY LLC | $395,000 | n/a | 0.2% | |
| FRANKLIN MINT | $395,000 | n/a | 0.2% | |
| BAYSHORE MORTGAGE FUNDING, LLC | $165,000 | $385,000 | 133.3% | 0.2% |
| TOWNE MORTGAGE COMPANY | $885,000 | $385,000 | -56.5% | 0.2% |
| MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE, INCORPORATED | $360,000 | n/a | 0.2% | |
| First Home Bank | $350,000 | n/a | 0.2% | |
| AMERICAN ADVISORS GROUP | $35,000 | $345,000 | 885.7% | 0.2% |
| GSF Mortgage Corporation | $345,000 | n/a | 0.2% | |
| Pendleton Community Bank, Inc. | $335,000 | n/a | 0.2% | |
| Waterstone Mortgage Corporation | $245,000 | $335,000 | 36.7% | 0.2% |
| CBM Mortgage, Inc. | $325,000 | n/a | 0.2% | |
| Semper Home Loans, Inc. | $325,000 | n/a | 0.2% | |
| S&T Bank | $325,000 | n/a | 0.2% | |
| TJC Mortgage, Inc. | $440,000 | $325,000 | -26.1% | 0.2% |
| USAA Federal Savings Bank | $685,000 | $325,000 | -52.6% | 0.2% |
| CIVIC FINANCIAL SERVICES, LLC | $315,000 | n/a | 0.2% | |
| Bank of England | $410,000 | $305,000 | -25.6% | 0.1% |
| GENEVA FINANCIAL, LLC | $305,000 | n/a | 0.1% | |
| Stifel Bank and Trust | $305,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $260,000 | $300,000 | 15.4% | 0.1% |
| Gateway First Bank | $580,000 | $295,000 | -49.1% | 0.1% |
| UNION HOME MORTGAGE CORP. | $305,000 | $295,000 | -3.3% | 0.1% |
| Vellum Mortgage, Inc. | $545,000 | $285,000 | -47.7% | 0.1% |
| ABSOLUTE HOME MORTGAGE CORPORATION | $55,000 | $275,000 | 400.0% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $105,000 | $265,000 | 152.4% | 0.1% |
| DEVELOPER'S MORTGAGE COMPANY | $265,000 | n/a | 0.1% | |
| OCEANSIDE MORTGAGE COMPANY | $265,000 | $265,000 | 0.0% | 0.1% |
| PIKE CREEK MORTGAGE SERVICES, INC. | $265,000 | n/a | 0.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $115,000 | $265,000 | 130.4% | 0.1% |
| Financial Freedom Mortgage, LLC | $165,000 | $255,000 | 54.5% | 0.1% |
| KELLER MORTGAGE, LLC | $255,000 | n/a | 0.1% | |
| First National Bank of America | $135,000 | $245,000 | 81.5% | 0.1% |
| Morgan Stanley Private Bank | $1,015,000 | $245,000 | -75.9% | 0.1% |
| GUILD MORTGAGE COMPANY | $205,000 | $235,000 | 14.6% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $510,000 | $235,000 | -53.9% | 0.1% |
| TD Bank | $715,000 | $225,000 | -68.5% | 0.1% |
| AgFirst Farm Credit Bank | $1,185,000 | $215,000 | -81.9% | 0.1% |
| Integrity Home Mortgage Corp | $215,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $215,000 | n/a | 0.1% | |
| BANK OF LITTLE ROCK MORTGAGE CORPORATION | $205,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $990,000 | $205,000 | -79.3% | 0.1% |
| NORWICH COMMERCIAL GROUP, INC. | $205,000 | n/a | 0.1% | |
| LOANPAL, LLC | $185,000 | n/a | 0.1% | |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $175,000 | n/a | 0.1% | |
| DEPARTMENT OF COMMERCE | $1,390,000 | $175,000 | -87.4% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $165,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $165,000 | n/a | 0.1% | |
| N R L Federal Credit Union | $165,000 | n/a | 0.1% | |
| Alcova Mortgage LLC | $155,000 | n/a | 0.1% | |
| SILVER HILL FUNDING, LLC | $145,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $605,000 | $135,000 | -77.7% | 0.1% |
| FINANCE OF AMERICA MORTGAGE LLC | $205,000 | $125,000 | -39.0% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $120,000 | $125,000 | 4.2% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $940,000 | $125,000 | -86.7% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $115,000 | n/a | 0.1% | |
| UNIVERSAL MORTGAGE & FINANCE, INC. | $420,000 | $115,000 | -72.6% | 0.1% |
| Signal Financial Federal Credit Union | $135,000 | $105,000 | -22.2% | 0.1% |
| Wilmington Savings Fund Society, FSB | $235,000 | $105,000 | -55.3% | 0.1% |
| 21ST MORTGAGE CORPORATION | $35,000 | $90,000 | 157.1% | 0.0% |
| Calvin B. Taylor Banking Company of Berlin, Maryland | $85,000 | n/a | 0.0% | |
| INTERLINC MORTGAGE SERVICES, LLC | $85,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $85,000 | n/a | 0.0% | |
| Mid-Atlantic Federal Credit Union | $35,000 | $65,000 | 85.7% | 0.0% |
| POLARIS HOME FUNDING CORP. | $185,000 | $65,000 | -64.9% | 0.0% |
| ARLINGTON COMMUNITY | $55,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $45,000 | $55,000 | 22.2% | 0.0% |
| Home Loan Investment Bank, F.S.B. | $25,000 | $50,000 | 100.0% | 0.0% |
| APL | $35,000 | n/a | 0.0% |
Cambridge's top lender by overall market share is QUICKEN LOANS, LLC, with 6.5% market share. In second place, with 5.8%, is NVR Mortgage Finance, Inc., having originated $11,730,000 in loans. In third place, with 4.9%, is FIRST HOME MORTGAGE CORPORATION, having originated $10,070,000 in loans. In fourth place, with 3.5%, is Truist, having originated $7,185,000 in loans. In fifth place, with 3.4%, is HOME POINT FINANCIAL CORPORATION, having originated $7,005,000 in loans.
Cambridge, MD Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 570 | $146,600,000 | $257,193 |
| Cash Out Refi | 149 | $29,725,000 | $199,497 |
| Refi | 101 | $18,815,000 | $186,287 |
| Home Improvement | 43 | $4,335,000 | $100,814 |
| Other | 42 | $3,970,000 | $94,524 |
Cambridge's most frequently cited loan purpose was Home Purchase, with 570 originations. The 2nd most popular reason was Cash Out Refi, with 149 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 210 | $46,760,000 | $222,667 |
| 5-6% | 208 | $47,040,000 | $226,154 |
| 4-5% | 185 | $45,875,000 | $247,973 |
| 6-7% | 118 | $24,850,000 | $210,593 |
| 2.5-3% | 55 | $15,555,000 | $282,818 |
| <2.5% | 34 | $6,300,000 | $185,294 |
| 7-8% | 29 | $5,475,000 | $188,793 |
| Over 8% | 16 | $1,050,000 | $65,625 |
During 2022, Cambridge's most frequently originated rate bucket was 3-4%, with 210 originations.
Loan Sizing (Cambridge, MD MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 412 | $112,270,000 | $272,500 |
| $100k-200k | 290 | $44,080,000 | $152,000 |
| $100,000 or less | 136 | $7,970,000 | $58,603 |
| $400k-600k | 44 | $20,930,000 | $475,682 |
| $600k-1000k | 18 | $12,190,000 | $677,222 |
| $Over $1MM | 5 | $6,005,000 | $1,201,000 |
Cambridge's loan sizing saw the bucket of loans from $200k-400k with 412 originations, totaling $112,270,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 424 | $110,870,000 | $261,486 |
| 60-80% | 202 | $49,560,000 | $245,347 |
| 40-60% | 87 | $17,445,000 | $200,517 |
| 20-40% | 73 | $7,905,000 | $108,288 |
| Under 20% | 55 | $2,525,000 | $45,909 |
| Over 100% | 19 | $5,535,000 | $291,316 |
Cambridge's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 424 originations, totaling $110,870,000 in origination value.