Centralia Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Centralia averaged
7.1%
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
6.63% and
one month ago for the week of 2024-10-03, the
average rate was 6.13%.
Centralia's average rate one year ago was 7.87%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.39%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Centralia 30 Year Fixed Rate | 2024-11-07 | 7.1% |
| Centralia 30 Year Fixed Rate Refi | 2024-11-07 | 7.39% |
| Centralia 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Centralia 15 Year Fixed Rate Refi | 2024-11-07 | 5.9% |
| Centralia 30 Year FHA | 2024-11-07 | 6.63% |
| Centralia 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Centralia 30 Year USDA | 2024-11-07 | 6.58% |
| Centralia 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Centralia 30 Year VA | 2024-11-07 | 6.34% |
| Centralia 30 Year VA Refi | 2024-11-07 | 6.14% |
Centralia 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 Centralia, IL 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.).
Centralia Average Closing Costs & Other Stats
Centralia, IL's 34 lenders originated 495
loans during 2023. The total origination value was $51,855,000, with an average loan value of
$104,758.
Centralia's average closing costs are $3,493.
The top Centralia lender as defined by loan originations is Peoples National Bank , N.A., with
26 loans originated. Their average total fees are
$1,982, which is $727
lower than the next largest lender,
U.S. Bank.
The lowest fee Centralia lenders (with over 10 loans originated) are
Peoples National Bank , N.A. ($1,982), Community Mortgage Banc Corporation ($2,644), U.S. Bank ($2,709), DELMAR FINANCIAL COMPANY ($3,625) and .
The lowest rate Centralia lenders (with over 10 loans originated) are
Community Mortgage Banc Corporation (6.71%), Peoples National Bank , N.A. (6.80%), DELMAR FINANCIAL COMPANY (6.80%), U.S. Bank (6.83%) and .
Centralia, IL 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 |
|---|---|---|---|---|
| Community Partners Savings Bank | $8,270,000 | $7,120,000 | -13.9% | 13.7% |
| Peoples National Bank , N.A. | $8,275,000 | $6,575,000 | -20.5% | 12.7% |
| Community Mortgage Banc Corporation | $3,595,000 | $3,065,000 | -14.7% | 5.9% |
| U.S. Bank | $4,775,000 | $2,870,000 | -39.9% | 5.5% |
| Mortgage Research Center, LLC | $2,225,000 | $2,830,000 | 27.2% | 5.5% |
| DELMAR FINANCIAL COMPANY | $1,835,000 | $2,770,000 | 51.0% | 5.3% |
| ENDEAVOR CAPITAL, LLC. | $2,095,000 | $2,555,000 | 22.0% | 4.9% |
| QUICKEN LOANS, LLC | $2,850,000 | $2,470,000 | -13.3% | 4.8% |
| BROKER SOLUTIONS, INC. | $3,365,000 | $1,545,000 | -54.1% | 3.0% |
| Midland States Bank | $2,780,000 | $1,220,000 | -56.1% | 2.4% |
| Germantown Trust & Savings Bank | $945,000 | $1,190,000 | 25.9% | 2.3% |
| 21ST MORTGAGE CORPORATION | $1,270,000 | $1,085,000 | -14.6% | 2.1% |
| FCB Banks | $2,345,000 | $970,000 | -58.6% | 1.9% |
| FLAT BRANCH MORTGAGE, INC. | $240,000 | $895,000 | 272.9% | 1.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $805,000 | n/a | 1.6% | |
| Petefish, Skiles & Co. | $195,000 | $750,000 | 284.6% | 1.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $400,000 | $710,000 | 77.5% | 1.4% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $200,000 | $710,000 | 255.0% | 1.4% |
| United Community Bank | $400,000 | $690,000 | 72.5% | 1.3% |
| GERSHMAN INVESTMENT CORP. | $855,000 | $585,000 | -31.6% | 1.1% |
| USAA Federal Savings Bank | $165,000 | $550,000 | 233.3% | 1.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $535,000 | n/a | 1.0% | |
| FirstTrust Home Loans, Inc. | $510,000 | n/a | 1.0% | |
| The Bradford National Bank of Greenville | $275,000 | $500,000 | 81.8% | 1.0% |
| Regions Bank | $1,200,000 | $455,000 | -62.1% | 0.9% |
| GUARANTEED RATE, INC. | $930,000 | $440,000 | -52.7% | 0.8% |
| NFM, INC. | $410,000 | n/a | 0.8% | |
| The FNB Community Bank | $1,090,000 | $400,000 | -63.3% | 0.8% |
| AMERISAVE MORTGAGE CORPORATION | $770,000 | $395,000 | -48.7% | 0.8% |
| Wells Fargo Bank | $150,000 | $385,000 | 156.7% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $865,000 | $330,000 | -61.8% | 0.6% |
| SOUTHWEST STAGE FUNDING, LLC | $300,000 | n/a | 0.6% | |
| Fifth Third Bank | $195,000 | $295,000 | 51.3% | 0.6% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $265,000 | n/a | 0.5% | |
| LAKEVIEW LOAN SERVICING, LLC | $255,000 | n/a | 0.5% | |
| PNC Bank | $195,000 | $245,000 | 25.6% | 0.5% |
| Bank of England | $235,000 | n/a | 0.5% | |
| ON Q FINANCIAL, INC. | $230,000 | n/a | 0.4% | |
| Busey Bank | $215,000 | n/a | 0.4% | |
| First Savings Bank | $420,000 | $205,000 | -51.2% | 0.4% |
| Paramount Residential Mortgage Group, Inc. | $205,000 | n/a | 0.4% | |
| DAS Acquisition Company, LLC | $320,000 | $190,000 | -40.6% | 0.4% |
| First Mid Bank & Trust | $930,000 | $190,000 | -79.6% | 0.4% |
| PLANET HOME LENDING, LLC | $185,000 | n/a | 0.4% | |
| First Financial Bank | $610,000 | $175,000 | -71.3% | 0.3% |
| Flagstar Bank, FSB | $510,000 | $175,000 | -65.7% | 0.3% |
| GSF Mortgage Corporation | $165,000 | n/a | 0.3% | |
| NEWREZ LLC | $85,000 | $145,000 | 70.6% | 0.3% |
| FIRST ALLIANCE HOME MORTGAGE, LLC | $135,000 | n/a | 0.3% | |
| The Farmers and Merchants National Bank of Nashville | $145,000 | $135,000 | -6.9% | 0.3% |
| 1ST MIDAMERICA | $125,000 | n/a | 0.2% | |
| ZILLOW HOME LOANS, LLC | $125,000 | n/a | 0.2% | |
| FREEDOM MORTGAGE CORPORATION | $650,000 | $115,000 | -82.3% | 0.2% |
| SCOTT CREDIT UNION | $385,000 | $115,000 | -70.1% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $110,000 | n/a | 0.2% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $110,000 | n/a | 0.2% | |
| STOCKTON MORTGAGE CORPORATION | $95,000 | n/a | 0.2% | |
| LOANDEPOT.COM, LLC | $420,000 | $85,000 | -79.8% | 0.2% |
| GUILD MORTGAGE COMPANY | $75,000 | $70,000 | -6.7% | 0.1% |
| PENNYMAC LOAN SERVICES, LLC | $630,000 | $65,000 | -89.7% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $330,000 | $65,000 | -80.3% | 0.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $305,000 | $65,000 | -78.7% | 0.1% |
| Carrollton Bank | $85,000 | $55,000 | -35.3% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $55,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $170,000 | $55,000 | -67.6% | 0.1% |
| Bank of Hillsboro | $315,000 | $45,000 | -85.7% | 0.1% |
| Figure Lending LLC | $65,000 | $35,000 | -46.2% | 0.1% |
| Coastal Community Bank | $25,000 | n/a | 0.0% | |
| GCS | $25,000 | n/a | 0.0% | |
| The Peoples State Bank of Newton, Illinois | $410,000 | $25,000 | -93.9% | 0.0% |
Centralia's top lender by overall market share is Community Partners Savings Bank, with 13.7% market share. In second place, with 12.7%, is Peoples National Bank , N.A., having originated $6,575,000 in loans. In third place, with 5.9%, is Community Mortgage Banc Corporation, having originated $3,065,000 in loans. In fourth place, with 5.5%, is U.S. Bank, having originated $2,870,000 in loans. In fifth place, with 5.5%, is Mortgage Research Center, LLC, having originated $2,830,000 in loans.
Centralia, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 329 | $41,185,000 | $125,182 |
| Cash Out Refi | 52 | $4,210,000 | $80,962 |
| Other | 49 | $2,815,000 | $57,449 |
| Refi | 39 | $2,645,000 | $67,821 |
| Home Improvement | 26 | $1,000,000 | $38,462 |
Centralia's most frequently cited loan purpose was Home Purchase, with 329 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 159 | $19,305,000 | $121,415 |
| 7-8% | 105 | $14,155,000 | $134,810 |
| Over 8% | 65 | $4,765,000 | $73,308 |
| 5-6% | 30 | $3,240,000 | $108,000 |
| <2.5% | 14 | $180,000 | $12,857 |
| 3-4% | 11 | $665,000 | $60,455 |
| 4-5% | 2 | $120,000 | $60,000 |
During 2023, Centralia's most frequently originated rate bucket was 6-7%, with 159 originations.
Loan Sizing (Centralia, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 265 | $13,565,000 | $51,189 |
| $100k-200k | 188 | $26,530,000 | $141,117 |
| $200k-400k | 37 | $9,375,000 | $253,378 |
| $400k-600k | 5 | $2,385,000 | $477,000 |
Centralia's loan sizing saw the bucket of loans from $100,000 or less with 265 originations, totaling $13,565,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 221 | $28,595,000 | $129,389 |
| 60-80% | 63 | $8,285,000 | $131,508 |
| Under 20% | 43 | $1,085,000 | $25,233 |
| 20-40% | 36 | $1,690,000 | $46,944 |
| 40-60% | 18 | $1,560,000 | $86,667 |
| Over 100% | 6 | $1,180,000 | $196,667 |
Centralia's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 221 originations, totaling $28,595,000 in origination value.