Central City Mortgage Rates
30 Year Fixed Rate mortgages in Central City averaged
5.58%
for the week of 2022-06-30, compared to the national average of
5.7% for the same period.
The average rate for the prior week (2022-06-23) was
5.79% and
one month ago for the week of 2022-05-26, the
average rate was 5.38%.
Central City's average rate one year ago was 3.26%.
For refis of the same type during the week of 2022-06-30, the average rate
was 6.11%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-30 | 5.7% |
| Central City 30 Year Fixed Rate | 2022-06-30 | 5.58% |
| Central City 30 Year Fixed Rate Refi | 2022-06-30 | 6.11% |
| Central City 15 Year Fixed Rate | 2022-06-30 | 6.05% |
| Central City 15 Year Fixed Rate Refi | 2022-06-30 | 5.33% |
| Central City 30 Year FHA | 2022-06-30 | 6.15% |
| Central City 30 Year FHA Refi | 2022-06-30 | 5.83% |
| Central City 30 Year USDA | 2022-06-30 | 5.58% |
| Central City 30 Year USDA Refi | 2022-06-30 | 5.74% |
| Central City 30 Year VA | 2022-06-30 | 5.63% |
| Central City 30 Year VA Refi | 2022-06-30 | 5.23% |
Central City Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Central City, KY 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.).
Central City, KY's 46 lenders originated 728
loans during 2021. The total origination value was $93,100,000, with an average loan value of
$127,885.
The top Central City lender as defined by loan originations is Old National Bank, with
26 loans originated. Their average total fees are
$1,681, which is $1,042
lower than the next largest lender,
STOCKTON MORTGAGE CORPORATION.
The lowest fee Central City lenders (with over 10 loans originated) are
Old National Bank ($1,681), STOCKTON MORTGAGE CORPORATION ($2,723), QUICKEN LOANS, LLC ($4,560), .
The lowest rate Central City lenders (with over 10 loans originated) are
STOCKTON MORTGAGE CORPORATION (3.09%), QUICKEN LOANS, LLC (3.23%), Old National Bank (3.33%), .
Central City, KY Lender 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| Old National Bank | $13,980,000 | $13,915,000 | -0.5% | 14.9% |
| Farmers Bank and Trust Company | $12,280,000 | $11,805,000 | -3.9% | 12.7% |
| STOCKTON MORTGAGE CORPORATION | $6,880,000 | $7,570,000 | 10.0% | 8.1% |
| QUICKEN LOANS, LLC | $7,880,000 | $7,325,000 | -7.0% | 7.9% |
| First Southern National Bank | $6,075,000 | $7,020,000 | 15.6% | 7.5% |
| EVANSVILLE TEACHERS | $4,645,000 | $3,380,000 | -27.2% | 3.6% |
| AMERICAN MORTGAGE SERVICE COMPANY | $1,385,000 | $2,350,000 | 69.7% | 2.5% |
| FREEDOM MORTGAGE CORPORATION | $1,475,000 | $2,040,000 | 38.3% | 2.2% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $1,055,000 | $1,860,000 | 76.3% | 2.0% |
| Mortgage Research Center, LLC | $1,000,000 | $1,705,000 | 70.5% | 1.8% |
| RUOFF MORTGAGE COMPANY, INC. | $720,000 | $1,635,000 | 127.1% | 1.8% |
| GERSHMAN INVESTMENT CORP. | $55,000 | $1,585,000 | 2,781.8% | 1.7% |
| CALIBER HOME LOANS, INC. | $690,000 | $1,455,000 | 110.9% | 1.6% |
| U.S. Bank | $785,000 | $1,445,000 | 84.1% | 1.6% |
| LOANDEPOT.COM, LLC | $635,000 | $1,305,000 | 105.5% | 1.4% |
| NAVY FEDERAL CREDIT UNION | $140,000 | $1,300,000 | 828.6% | 1.4% |
| 21ST MORTGAGE CORPORATION | $620,000 | $1,240,000 | 100.0% | 1.3% |
| AMERISAVE MORTGAGE CORPORATION | $680,000 | $1,240,000 | 82.4% | 1.3% |
| PENNYMAC LOAN SERVICES, LLC | $440,000 | $980,000 | 122.7% | 1.1% |
| Farm Credit Mid-America, ACA | $705,000 | $950,000 | 34.8% | 1.0% |
| Flagstar Bank, FSB | $820,000 | n/a | 0.9% | |
| Carrington Mortgage Services, LLC | $230,000 | $725,000 | 215.2% | 0.8% |
| Independence Bank of Kentucky | $590,000 | $720,000 | 22.0% | 0.8% |
| JPMorgan Chase Bank | $415,000 | $705,000 | 69.9% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $265,000 | $615,000 | 132.1% | 0.7% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $275,000 | $585,000 | 112.7% | 0.6% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $845,000 | $560,000 | -33.7% | 0.6% |
| MOVEMENT MORTGAGE, LLC | $1,130,000 | $550,000 | -51.3% | 0.6% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,815,000 | $550,000 | -69.7% | 0.6% |
| UNITED WHOLESALE MORTGAGE, LLC | $415,000 | $545,000 | 31.3% | 0.6% |
| Bank of England | $160,000 | $540,000 | 237.5% | 0.6% |
| Wells Fargo Bank | $1,090,000 | $520,000 | -52.3% | 0.6% |
| Fifth Third Bank | $120,000 | $470,000 | 291.7% | 0.5% |
| Citizens Bank | $290,000 | $465,000 | 60.3% | 0.5% |
| HOME POINT FINANCIAL CORPORATION | $370,000 | $445,000 | 20.3% | 0.5% |
| SOUTH CENTRAL BANK, INC. | $335,000 | $430,000 | 28.4% | 0.5% |
| Magnolia Bank | $475,000 | $410,000 | -13.7% | 0.4% |
| American Bank & Trust Company, Inc. | $385,000 | n/a | 0.4% | |
| MORTGAGE INVESTORS GROUP, INC. | $370,000 | n/a | 0.4% | |
| FIRST COMMUNITY MORTGAGE, INC. | $355,000 | n/a | 0.4% | |
| NBKC BANK | $355,000 | n/a | 0.4% | |
| GUARANTY HOME MORTGAGE CORPORATION | $165,000 | $345,000 | 109.1% | 0.4% |
| Wilson & Muir Bank & Trust Company | $305,000 | n/a | 0.3% | |
| Morgantown Bank & Trust Company, Incorporated | $15,000 | $300,000 | 1,900.0% | 0.3% |
| Bank of America | $295,000 | n/a | 0.3% | |
| KELLER MORTGAGE, LLC | $285,000 | n/a | 0.3% | |
| The Central Trust Bank | $285,000 | n/a | 0.3% | |
| HOMESIDE FINANCIAL, LLC | $270,000 | n/a | 0.3% | |
| 1ST SIGNATURE LENDING, LLC | $265,000 | n/a | 0.3% | |
| BETTER MORTGAGE CORPORATION | $265,000 | n/a | 0.3% | |
| EVERETT FINANCIAL, INC. | $650,000 | $265,000 | -59.2% | 0.3% |
| INSIGHT | $265,000 | n/a | 0.3% | |
| USAA Federal Savings Bank | $255,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $105,000 | $230,000 | 119.0% | 0.2% |
| GVC MORTGAGE, INC. | $230,000 | n/a | 0.2% | |
| MMS MORTGAGE SERVICES, LTD. | $215,000 | n/a | 0.2% | |
| MORTGAGE SUPPLIERS, INC. | $215,000 | n/a | 0.2% | |
| COMMONWEALTH | $565,000 | $205,000 | -63.7% | 0.2% |
| Lakeview Community Capital, LLC | $205,000 | n/a | 0.2% | |
| MORTGAGE MASTERS OF INDIANA, INC. | $115,000 | $195,000 | 69.6% | 0.2% |
| NEW DAY FINANCIAL, LLC | $200,000 | $195,000 | -2.5% | 0.2% |
| SWBC MORTGAGE CORPORATION | $195,000 | n/a | 0.2% | |
| CROSSCOUNTRY MORTGAGE, LLC | $320,000 | $185,000 | -42.2% | 0.2% |
| GENERAL ELECTRIC CREDIT UNION | $185,000 | n/a | 0.2% | |
| GENEVA FINANCIAL, LLC | $185,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $175,000 | $185,000 | 5.7% | 0.2% |
| PARK COMMUNITY CREDIT UNION, INC. | $185,000 | n/a | 0.2% | |
| Wyndham Capital Mortgage, Inc. | $185,000 | n/a | 0.2% | |
| Colten Mortgage, LLC | $165,000 | n/a | 0.2% | |
| LAND HOME FINANCIAL SERVICES, INC. | $165,000 | n/a | 0.2% | |
| Legends Bank | $165,000 | n/a | 0.2% | |
| SOUTHWEST FUNDING, LP | $155,000 | n/a | 0.2% | |
| THRIVE MORTGAGE, LLC | $155,000 | n/a | 0.2% | |
| Republic Bank & Trust Company | $145,000 | n/a | 0.2% | |
| Sierra Pacific Mortgage Company, Inc. | $145,000 | n/a | 0.2% | |
| Low VA Rates, LLC | $125,000 | $135,000 | 8.0% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $95,000 | $135,000 | 42.1% | 0.1% |
| Plains Commerce Bank | $135,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $115,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $115,000 | n/a | 0.1% | |
| Reliant Bank | $115,000 | n/a | 0.1% | |
| West Point Bank | $115,000 | n/a | 0.1% | |
| ALTRA | $105,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $105,000 | n/a | 0.1% | |
| Regions Bank | $105,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $555,000 | $95,000 | -82.9% | 0.1% |
| Truist Bank | $650,000 | $90,000 | -86.2% | 0.1% |
| Ally Bank | $85,000 | n/a | 0.1% | |
| Flanagan State Bank | $75,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $75,000 | n/a | 0.1% | |
| Paramount Bank | $75,000 | n/a | 0.1% | |
| VILLAGE CAPITAL & INVESTMENT LLC | $455,000 | $75,000 | -83.5% | 0.1% |
| Abound Federal Credit Union | $65,000 | n/a | 0.1% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $65,000 | n/a | 0.1% | |
| Discover Bank | $35,000 | $65,000 | 85.7% | 0.1% |
| FirstBank | $150,000 | $65,000 | -56.7% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $55,000 | n/a | 0.1% | |
| The Huntington National Bank | $55,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| NEWREZ LLC | $45,000 | n/a | 0.0% | |
| First Financial Bank | $25,000 | n/a | 0.0% | |
| TriStar Bank | $25,000 | n/a | 0.0% |
Central City's top lender by overall market share is Old National Bank, with 14.9% market share. In second place, with 12.7%, is Farmers Bank and Trust Company, having originated $11,805,000 in loans. In third place, with 8.1%, is STOCKTON MORTGAGE CORPORATION, having originated $7,570,000 in loans. In third place, with 7.9%, is QUICKEN LOANS, LLC, having originated $7,325,000 in loans. In third place, with 7.5%, is First Southern National Bank, having originated $7,020,000 in loans.
Central City, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Refi | 306 | $37,250,000 | $121,732 |
| Home Purchase | 297 | $41,965,000 | $141,296 |
| Cash Out Refi | 74 | $11,000,000 | $148,649 |
| Home Improvement | 29 | $1,545,000 | $53,276 |
| Other | 22 | $1,340,000 | $60,909 |
Central City's most frequently cited loan purpose was Refi, with 306 originations. The 2nd most popular reason was Home Purchase, with 297 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 269 | $33,595,000 | $124,888 |
| 2.5-3% | 192 | $27,290,000 | $142,135 |
| <2.5% | 85 | $12,655,000 | $148,882 |
| 4-5% | 45 | $3,565,000 | $79,222 |
| 5-6% | 20 | $1,700,000 | $85,000 |
| Over 8% | 8 | $740,000 | $92,500 |
| 6-7% | 7 | $635,000 | $90,714 |
| 7-8% | 3 | $285,000 | $95,000 |
During 2021, Central City's most frequently originated rate bucket was 3-4%, with 269 originations.
Loan Sizing (Central City, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 315 | $44,605,000 | $141,603 |
| $100,000 or less | 314 | $19,690,000 | $62,707 |
| $200k-400k | 92 | $24,480,000 | $266,087 |
| $400k-600k | 5 | $2,245,000 | $449,000 |
| $600k-1000k | 1 | $755,000 | $755,000 |
| $Over $1MM | 1 | $1,325,000 | $1,325,000 |
Central City's loan sizing saw the bucket of loans from $100k-200k with 315 originations, totaling $44,605,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 269 | $38,955,000 | $144,814 |
| 60-80% | 190 | $26,570,000 | $139,842 |
| 40-60% | 78 | $7,320,000 | $93,846 |
| 20-40% | 38 | $2,480,000 | $65,263 |
| Under 20% | 22 | $500,000 | $22,727 |
| Over 100% | 6 | $1,140,000 | $190,000 |
Central City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 269 originations, totaling $38,955,000 in origination value.
