Cañon City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cañon City averaged
6.99%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.52% and
one month ago for the week of 2024-10-03, the
average rate was 6.32%.
Cañon City's average rate one year ago was 7.76%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.29%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Cañon City 30 Year Fixed Rate | 2024-11-07 | 6.99% |
| Cañon City 30 Year Fixed Rate Refi | 2024-11-07 | 7.29% |
| Cañon City 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Cañon City 15 Year Fixed Rate Refi | 2024-11-07 | 6.5% |
| Cañon City 30 Year FHA | 2024-11-07 | 6.45% |
| Cañon City 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Cañon City 30 Year USDA | 2024-11-07 | 6.38% |
| Cañon City 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Cañon City 30 Year VA | 2024-11-07 | 6.14% |
| Cañon City 30 Year VA Refi | 2024-11-07 | 6.54% |
Cañon City 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 Cañon City, CO 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.).
Cañon City Average Closing Costs & Other Stats
Cañon City, CO's 98 lenders originated 1,017
loans during 2023. The total origination value was $233,495,000, with an average loan value of
$229,592.
Cañon City's average closing costs are $5,677.
The top Cañon City lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
42 loans originated. Their average total fees are
$7,232, which is $1,048
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Cañon City lenders (with over 10 loans originated) are
Ent Credit Union ($3,625), PENNYMAC LOAN SERVICES, LLC ($5,062), The Central Trust Bank ($5,622), QUICKEN LOANS, LLC ($6,184) and UNITED WHOLESALE MORTGAGE, LLC ($7,232).
The lowest rate Cañon City lenders (with over 10 loans originated) are
Ent Credit Union (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.57%), QUICKEN LOANS, LLC (6.73%), PENNYMAC LOAN SERVICES, LLC (6.74%) and The Central Trust Bank (6.75%).
Cañon City, CO 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 |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $30,105,000 | $31,680,000 | 5.2% | 13.6% |
| QUICKEN LOANS, LLC | $22,750,000 | $17,995,000 | -20.9% | 7.7% |
| Ent Credit Union | $24,305,000 | $13,205,000 | -45.7% | 5.7% |
| THE MORTGAGE COMPANY | $17,515,000 | $11,950,000 | -31.8% | 5.1% |
| The Central Trust Bank | $14,530,000 | $11,095,000 | -23.6% | 4.8% |
| CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION | $6,410,000 | $5,730,000 | -10.6% | 2.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,580,000 | $5,360,000 | -29.3% | 2.3% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $7,365,000 | $5,070,000 | -31.2% | 2.2% |
| Mortgage Research Center, LLC | $7,840,000 | $5,035,000 | -35.8% | 2.2% |
| NAVY FEDERAL CREDIT UNION | $1,650,000 | $4,010,000 | 143.0% | 1.7% |
| PENNYMAC LOAN SERVICES, LLC | $4,130,000 | $3,875,000 | -6.2% | 1.7% |
| MID AMERICA MORTGAGE, INC. | $10,280,000 | $3,285,000 | -68.0% | 1.4% |
| U.S. Bank | $4,165,000 | $3,135,000 | -24.7% | 1.3% |
| BROKER SOLUTIONS, INC. | $4,920,000 | $2,955,000 | -39.9% | 1.3% |
| FREEDOM MORTGAGE CORPORATION | $4,630,000 | $2,375,000 | -48.7% | 1.0% |
| CARDINAL FINANCIAL | $125,000 | $2,350,000 | 1,780.0% | 1.0% |
| Northpointe Bank | $3,090,000 | $2,240,000 | -27.5% | 1.0% |
| Loan Simple, Inc. | $4,600,000 | $2,200,000 | -52.2% | 0.9% |
| GUILD MORTGAGE COMPANY | $935,000 | $2,115,000 | 126.2% | 0.9% |
| LOANPAL, LLC | $3,275,000 | $2,110,000 | -35.6% | 0.9% |
| Flagstar Bank, FSB | $855,000 | $2,040,000 | 138.6% | 0.9% |
| UNIVERSAL LENDING CORPORATION | $2,715,000 | $1,980,000 | -27.1% | 0.8% |
| Glacier Bank | $2,825,000 | $1,950,000 | -31.0% | 0.8% |
| Paramount Residential Mortgage Group, Inc. | $740,000 | $1,900,000 | 156.8% | 0.8% |
| LOANDEPOT.COM, LLC | $11,155,000 | $1,845,000 | -83.5% | 0.8% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,160,000 | $1,735,000 | 49.6% | 0.7% |
| GUARANTEED RATE, INC. | $2,335,000 | $1,630,000 | -30.2% | 0.7% |
| Farm Credit Mid-America, ACA | $1,605,000 | n/a | 0.7% | |
| V.I.P. MORTGAGE, INC. | $765,000 | $1,555,000 | 103.3% | 0.7% |
| Ixonia Bank | $895,000 | $1,490,000 | 66.5% | 0.6% |
| Sunflower Bank | $1,180,000 | $1,440,000 | 22.0% | 0.6% |
| PLAZA HOME MORTGAGE, INC. | $2,960,000 | $1,345,000 | -54.6% | 0.6% |
| NEW WAVE LENDING GROUP INC | $1,275,000 | n/a | 0.5% | |
| SunWest Credit Union | $4,790,000 | $1,275,000 | -73.4% | 0.5% |
| CORNERSTONE HOME LENDING, INC. | $215,000 | $1,230,000 | 472.1% | 0.5% |
| AXIA FINANCIAL, LLC | $1,225,000 | n/a | 0.5% | |
| EVERETT FINANCIAL, INC. | $1,750,000 | $1,210,000 | -30.9% | 0.5% |
| CLEARPATH LENDING | $380,000 | $1,200,000 | 215.8% | 0.5% |
| Strong Home Mortgage, LLC | $305,000 | $1,195,000 | 291.8% | 0.5% |
| NEW DAY FINANCIAL, LLC | $2,350,000 | $1,155,000 | -50.9% | 0.5% |
| The Loan Store, Inc. | $1,145,000 | n/a | 0.5% | |
| NBH Bank | $2,770,000 | $1,125,000 | -59.4% | 0.5% |
| ACADEMY MORTGAGE CORPORATION | $1,120,000 | n/a | 0.5% | |
| UMB Bank | $1,040,000 | n/a | 0.4% | |
| AMERISAVE MORTGAGE CORPORATION | $2,745,000 | $1,030,000 | -62.5% | 0.4% |
| Wells Fargo Bank | $3,775,000 | $1,020,000 | -73.0% | 0.4% |
| The Federal Savings Bank | $1,015,000 | n/a | 0.4% | |
| SECURITY SERVICE | $1,055,000 | $985,000 | -6.6% | 0.4% |
| NEWREZ LLC | $3,305,000 | $975,000 | -70.5% | 0.4% |
| Cornerstone First Mortgage, Inc | $960,000 | n/a | 0.4% | |
| BELLCO | $580,000 | $940,000 | 62.1% | 0.4% |
| FINANCE OF AMERICA REVERSE LLC | $700,000 | $935,000 | 33.6% | 0.4% |
| Waterstone Mortgage Corporation | $305,000 | $935,000 | 206.6% | 0.4% |
| CMG MORTGAGE, INC. | $535,000 | $910,000 | 70.1% | 0.4% |
| JPMorgan Chase Bank | $345,000 | $910,000 | 163.8% | 0.4% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,290,000 | $900,000 | -30.2% | 0.4% |
| PENTAGON FEDERAL CREDIT UNION | $455,000 | $895,000 | 96.7% | 0.4% |
| UNION HOME MORTGAGE CORP. | $925,000 | $885,000 | -4.3% | 0.4% |
| Morgan Stanley Private Bank | $525,000 | $880,000 | 67.6% | 0.4% |
| Integrity Bank & Trust | $855,000 | n/a | 0.4% | |
| THRIVE MORTGAGE, LLC | $745,000 | $855,000 | 14.8% | 0.4% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $2,735,000 | $845,000 | -69.1% | 0.4% |
| BMO Harris Bank | $835,000 | n/a | 0.4% | |
| USAA Federal Savings Bank | $1,515,000 | $825,000 | -45.5% | 0.4% |
| INTERCAP LENDING INC. | $815,000 | n/a | 0.3% | |
| Plains Commerce Bank | $1,605,000 | $795,000 | -50.5% | 0.3% |
| GROUP MORTGAGE, LLC | $770,000 | n/a | 0.3% | |
| S1L, Inc. | $2,980,000 | $750,000 | -74.8% | 0.3% |
| American Mortgage & Equity Consultants, Inc. | $1,390,000 | $715,000 | -48.6% | 0.3% |
| Zions Bank | $1,480,000 | $685,000 | -53.7% | 0.3% |
| FIRST MORTGAGE COMPANY, INC. | $665,000 | n/a | 0.3% | |
| Discover Bank | $260,000 | $655,000 | 151.9% | 0.3% |
| LONGBRIDGE FINANCIAL, LLC | $135,000 | $640,000 | 374.1% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $620,000 | n/a | 0.3% | |
| Equity Prime Mortgage LLC | $810,000 | $600,000 | -25.9% | 0.3% |
| Carrington Mortgage Services, LLC | $1,850,000 | $595,000 | -67.8% | 0.3% |
| HOMESIDE FINANCIAL, LLC | $125,000 | $590,000 | 372.0% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $3,370,000 | $575,000 | -82.9% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $690,000 | $565,000 | -18.1% | 0.2% |
| The Huntington National Bank | $660,000 | $565,000 | -14.4% | 0.2% |
| Bank of Colorado | $525,000 | $550,000 | 4.8% | 0.2% |
| GENEVA FINANCIAL, LLC | $545,000 | n/a | 0.2% | |
| FLAT BRANCH MORTGAGE, INC. | $540,000 | n/a | 0.2% | |
| NFM, INC. | $1,365,000 | $530,000 | -61.2% | 0.2% |
| NORTHROP GRUMMAN Federal Credit Union | $525,000 | n/a | 0.2% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $885,000 | $510,000 | -42.4% | 0.2% |
| PREMIER MORTGAGE SERVICES, INC. | $205,000 | $500,000 | 143.9% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $545,000 | $495,000 | -9.2% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $620,000 | $490,000 | -21.0% | 0.2% |
| BOKF | $1,490,000 | $480,000 | -67.8% | 0.2% |
| 1ST SIGNATURE LENDING, LLC | $415,000 | $455,000 | 9.6% | 0.2% |
| North Dallas Bank & Trust Co. | $445,000 | n/a | 0.2% | |
| North American Savings Bank, F.S.B. | $425,000 | n/a | 0.2% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $545,000 | $420,000 | -22.9% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,980,000 | $420,000 | -85.9% | 0.2% |
| VERITAS FUNDING, LLC | $315,000 | $420,000 | 33.3% | 0.2% |
| Midwest Mortgage Associates Corporation | $460,000 | $405,000 | -12.0% | 0.2% |
| PNC Bank | $810,000 | $405,000 | -50.0% | 0.2% |
| Farmers Bank & Trust | $395,000 | n/a | 0.2% | |
| BAY EQUITY LLC | $1,590,000 | $385,000 | -75.8% | 0.2% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $385,000 | n/a | 0.2% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $500,000 | $385,000 | -23.0% | 0.2% |
| Elevations Credit Union | $125,000 | $375,000 | 200.0% | 0.2% |
| WESTERRA CREDIT UNION | $515,000 | $370,000 | -28.2% | 0.2% |
| DIRECT MORTGAGE, CORP. | $365,000 | n/a | 0.2% | |
| FirstBank | $85,000 | $365,000 | 329.4% | 0.2% |
| Armed Forces Bank | $75,000 | $355,000 | 373.3% | 0.2% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $355,000 | n/a | 0.2% | |
| ZILLOW HOME LOANS, LLC | $215,000 | $355,000 | 65.1% | 0.2% |
| First-Citizens Bank & Trust Company | $345,000 | n/a | 0.1% | |
| INTEGRITY MORTGAGE & FINANCIAL INCORPORATED | $925,000 | $340,000 | -63.2% | 0.1% |
| Mid-Continent Funding, Inc. | $245,000 | $325,000 | 32.7% | 0.1% |
| PLANET HOME LENDING, LLC | $1,325,000 | $315,000 | -76.2% | 0.1% |
| First United Bank and Trust Company | $295,000 | n/a | 0.1% | |
| Intrust Bank | $295,000 | n/a | 0.1% | |
| Colonial Savings, F.A. | $285,000 | n/a | 0.1% | |
| Century Mortgage Company DBA Century Lending Company | $275,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $265,000 | n/a | 0.1% | |
| CALIBER HOME LOANS, INC. | $5,660,000 | $265,000 | -95.3% | 0.1% |
| NOVA FINANCIAL & INVESTMENT CORPORATION | $965,000 | $255,000 | -73.6% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $915,000 | $245,000 | -73.2% | 0.1% |
| CONTOUR MORTGAGE CORPORATION | $235,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $670,000 | $235,000 | -64.9% | 0.1% |
| ALLIED MORTGAGE GROUP, INC. | $225,000 | n/a | 0.1% | |
| Network Funding, L.P. | $225,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $225,000 | n/a | 0.1% | |
| Bell Bank | $215,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $420,000 | $215,000 | -48.8% | 0.1% |
| MEGASTAR FINANCIAL CORP. | $1,040,000 | $215,000 | -79.3% | 0.1% |
| Park State Bank & Trust | $210,000 | n/a | 0.1% | |
| Blue Federal Credit Union | $205,000 | n/a | 0.1% | |
| COMMUNITY MORTGAGE, LLC | $205,000 | n/a | 0.1% | |
| OCEANSIDE MORTGAGE COMPANY | $205,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $105,000 | $195,000 | 85.7% | 0.1% |
| City Bank | $195,000 | n/a | 0.1% | |
| First Federal Bank | $275,000 | $185,000 | -32.7% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $155,000 | $185,000 | 19.4% | 0.1% |
| MICHIGAN MUTUAL, INC. | $355,000 | $185,000 | -47.9% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $1,030,000 | $175,000 | -83.0% | 0.1% |
| DOMINION FINANCIAL SERVICES, LLC | $165,000 | n/a | 0.1% | |
| Legacy Bank | $165,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $585,000 | $160,000 | -72.6% | 0.1% |
| Citibank | $155,000 | $155,000 | 0.0% | 0.1% |
| First Interstate Bank | $345,000 | $155,000 | -55.1% | 0.1% |
| PHH Mortgage Corporation | $480,000 | $155,000 | -67.7% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $150,000 | n/a | 0.1% | |
| LEADERONE FINANCIAL CORPORATION | $145,000 | n/a | 0.1% | |
| COLORADO CREDIT UNION | $585,000 | $135,000 | -76.9% | 0.1% |
| NETWORK CAPITAL FUNDING CORPORATION | $115,000 | $135,000 | 17.4% | 0.1% |
| OPEN MORTGAGE, LLC | $725,000 | $135,000 | -81.4% | 0.1% |
| ALLIANT CREDIT UNION | $130,000 | n/a | 0.1% | |
| Figure Lending LLC | $310,000 | $130,000 | -58.1% | 0.1% |
| AIR ACADEMY | $200,000 | $125,000 | -37.5% | 0.1% |
| AVENTA Credit Union | $390,000 | $105,000 | -73.1% | 0.0% |
| Nations Lending Corporation | $1,235,000 | $105,000 | -91.5% | 0.0% |
| RESIDENTIAL WHOLESALE MORTGAGE, INC. | $105,000 | n/a | 0.0% | |
| SWBC MORTGAGE CORPORATION | $105,000 | n/a | 0.0% | |
| CANVAS CREDIT UNION | $390,000 | $100,000 | -74.4% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $100,000 | n/a | 0.0% | |
| MidFirst Bank | $95,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $2,730,000 | $85,000 | -96.9% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $265,000 | $85,000 | -67.9% | 0.0% |
| Coastal Community Bank | $80,000 | n/a | 0.0% | |
| 21ST MORTGAGE CORPORATION | $80,000 | $75,000 | -6.3% | 0.0% |
| The Colorado Bank & Trust Company of La Junta | $55,000 | n/a | 0.0% | |
| Centier Bank | $25,000 | n/a | 0.0% | |
| POWER | $65,000 | $25,000 | -61.5% | 0.0% |
Cañon City's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 13.6% market share. In second place, with 7.7%, is QUICKEN LOANS, LLC, having originated $17,995,000 in loans. In third place, with 5.7%, is Ent Credit Union, having originated $13,205,000 in loans. In fourth place, with 5.1%, is THE MORTGAGE COMPANY, having originated $11,950,000 in loans. In fifth place, with 4.8%, is The Central Trust Bank, having originated $11,095,000 in loans.
Cañon City, CO Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 613 | $169,725,000 | $276,876 |
| Cash Out Refi | 182 | $37,900,000 | $208,242 |
| Other | 131 | $12,145,000 | $92,710 |
| Home Improvement | 53 | $3,975,000 | $75,000 |
| Refi | 38 | $9,750,000 | $256,579 |
Cañon City's most frequently cited loan purpose was Home Purchase, with 613 originations. The 2nd most popular reason was Cash Out Refi, with 182 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 365 | $100,285,000 | $274,753 |
| 7-8% | 222 | $54,030,000 | $243,378 |
| Over 8% | 196 | $20,920,000 | $106,735 |
| 5-6% | 170 | $51,170,000 | $301,000 |
| <2.5% | 34 | $340,000 | $10,000 |
| 4-5% | 12 | $3,580,000 | $298,333 |
| 3-4% | 3 | $455,000 | $151,667 |
| 2.5-3% | 1 | $365,000 | $365,000 |
During 2023, Cañon City's most frequently originated rate bucket was 6-7%, with 365 originations.
Loan Sizing (Cañon City, CO MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 454 | $128,860,000 | $283,833 |
| $100,000 or less | 236 | $11,130,000 | $47,161 |
| $100k-200k | 210 | $31,850,000 | $151,667 |
| $400k-600k | 95 | $45,295,000 | $476,789 |
| $600k-1000k | 20 | $13,890,000 | $694,500 |
| $Over $1MM | 2 | $2,470,000 | $1,235,000 |
Cañon City's loan sizing saw the bucket of loans from $200k-400k with 454 originations, totaling $128,860,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 398 | $127,420,000 | $320,151 |
| Under 20% | 189 | $8,795,000 | $46,534 |
| 60-80% | 176 | $49,060,000 | $278,750 |
| 40-60% | 112 | $23,390,000 | $208,839 |
| 20-40% | 107 | $13,525,000 | $126,402 |
| Over 100% | 23 | $8,205,000 | $356,739 |
Cañon City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 398 originations, totaling $127,420,000 in origination value.