Clarksdale Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Clarksdale averaged 6.77% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.39% and one month ago for the week of 2023-04-20, the average rate was 6.29%.

    Clarksdale's average rate one year ago was 5.45%.

    For refis of the same type during the week of 2023-05-25, the average rate was 7.07%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Clarksdale 30 Year Fixed Rate 2023-05-25 6.77%
    Clarksdale 30 Year Fixed Rate Refi 2023-05-25 7.07%
    Clarksdale 15 Year Fixed Rate 2023-05-25 6.17%
    Clarksdale 15 Year Fixed Rate Refi 2023-05-25 6.17%
    Clarksdale 30 Year FHA 2023-05-25 6.41%
    Clarksdale 30 Year FHA Refi 2023-05-25 6.51%
    Clarksdale 30 Year USDA 2023-05-25 6.53%
    Clarksdale 30 Year USDA Refi 2023-05-25 6.83%
    Clarksdale 30 Year VA 2023-05-25 6.31%
    Clarksdale 30 Year VA Refi 2023-05-25 6.31%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Clarksdale, MS.

    Clarksdale 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 Clarksdale, MS 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.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    CB&S Bank, Inc. 11 4.64% $3,016
    QUICKEN LOANS, LLC 3 4.08% $5,002
    Renasant Bank 2 5.56% $4,146
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.93% $6,803
    NAVY FEDERAL CREDIT UNION 2 7.38% $1,940
    Regions Bank 2 5.56% $5,091
    Ally Bank 1 6.00% $1,680
    COMMUNITY MORTGAGE CORPORATION 1 5.25% $2,987
    Discover Bank 1 4.25% $0
    Citizens Bank 1 3.88% $5,233

    Clarksdale Average Closing Costs & Other Stats

    Clarksdale, MS's 10 lenders originated 152 loans during 2022. The total origination value was $16,190,000, with an average loan value of $106,513.

    Clarksdale's average closing costs are $4,099.

    The top Clarksdale lender as defined by loan originations is CB&S Bank, Inc., with 11 loans originated. Their average total fees are $3,016, which is $1,986 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Clarksdale lenders (with over 10 loans originated) are CB&S Bank, Inc. ($3,016), .

    The lowest rate Clarksdale lenders (with over 10 loans originated) are CB&S Bank, Inc. (4.64%), .

    Clarksdale, MS 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
    CB&S Bank, Inc. $3,710,000 $2,380,000 -35.8% 14.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,100,000 $1,550,000 -26.2% 9.6%
    QUICKEN LOANS, LLC $2,275,000 $1,415,000 -37.8% 8.7%
    Regions Bank $1,440,000 $1,360,000 -5.6% 8.4%
    Guaranty Bank and Trust Company $85,000 $1,065,000 1,152.9% 6.6%
    Community Bank of Mississippi $895,000 n/a 5.5%
    Planters Bank & Trust Company $1,325,000 $640,000 -51.7% 4.0%
    Citizens Bank $415,000 $615,000 48.2% 3.8%
    Southern Bancorp Bank $340,000 $575,000 69.1% 3.6%
    Renasant Bank $275,000 $550,000 100.0% 3.4%
    NAVY FEDERAL CREDIT UNION $75,000 $330,000 340.0% 2.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $105,000 $300,000 185.7% 1.9%
    21ST MORTGAGE CORPORATION $295,000 n/a 1.8%
    CSL Financial, LLC $85,000 $285,000 235.3% 1.8%
    Wells Fargo Bank $405,000 $270,000 -33.3% 1.7%
    FIRST COMMUNITY MORTGAGE, INC. $145,000 $255,000 75.9% 1.6%
    Mortgage Research Center, LLC $390,000 $220,000 -43.6% 1.4%
    Mr. Cooper ( Nationstar Mortgage ) $380,000 $205,000 -46.1% 1.3%
    LOANDEPOT.COM, LLC $850,000 $175,000 -79.4% 1.1%
    EVERETT FINANCIAL, INC. $115,000 $165,000 43.5% 1.0%
    FINANCE OF AMERICA MORTGAGE LLC $160,000 n/a 1.0%
    Carrington Mortgage Services, LLC $35,000 $145,000 314.3% 0.9%
    RED RIVER EMPLOYEES $280,000 $145,000 -48.2% 0.9%
    SOUTHWEST STAGE FUNDING, LLC $125,000 $135,000 8.0% 0.8%
    Paragon Bank $225,000 $125,000 -44.4% 0.8%
    Trustmark National Bank $795,000 $120,000 -84.9% 0.7%
    NEW DAY FINANCIAL, LLC $115,000 n/a 0.7%
    Ally Bank $105,000 n/a 0.6%
    Bank of America $105,000 n/a 0.6%
    Lakeview Community Capital, LLC $105,000 n/a 0.6%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 n/a 0.6%
    SOUTHWEST FUNDING, LP $105,000 n/a 0.6%
    TRIAD FINANCIAL SERVICES, INC. $105,000 n/a 0.6%
    Discover Bank $85,000 n/a 0.5%
    STOCKTON MORTGAGE CORPORATION $85,000 n/a 0.5%
    First Security Bank $115,000 $80,000 -30.4% 0.5%
    Barrington Bank & Trust Company, N.A. $75,000 n/a 0.5%
    CRESCENT MORTGAGE COMPANY $160,000 $75,000 -53.1% 0.5%
    PENNYMAC LOAN SERVICES, LLC $45,000 $75,000 66.7% 0.5%
    AMERISAVE MORTGAGE CORPORATION $145,000 $65,000 -55.2% 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $65,000 n/a 0.4%
    MORIA DEVELOPMENT, INC. $65,000 n/a 0.4%
    ROYAL UNITED MORTGAGE LLC $65,000 n/a 0.4%
    VILLAGE CAPITAL MORTGAGE $65,000 n/a 0.4%
    BancorpSouth Bank $525,000 $55,000 -89.5% 0.3%
    COMMUNITY MORTGAGE CORPORATION $275,000 $55,000 -80.0% 0.3%
    PNC Bank $55,000 n/a 0.3%
    ATLANTA POSTAL $45,000 n/a 0.3%
    First Bank $35,000 n/a 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $115,000 $25,000 -78.3% 0.2%

    Clarksdale's top lender by overall market share is CB&S Bank, Inc., with 14.7% market share. In second place, with 9.6%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $1,550,000 in loans. In third place, with 8.7%, is QUICKEN LOANS, LLC, having originated $1,415,000 in loans. In fourth place, with 8.4%, is Regions Bank, having originated $1,360,000 in loans. In fifth place, with 6.6%, is Guaranty Bank and Trust Company, having originated $1,065,000 in loans.

    Clarksdale Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Clarksdale (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $94,000 (-9.2%) $145,052 (6.4%) 0.00 42
    2018-02-01 $88,000 (-9.0%) $132,839 (1.7%) 0.00 48
    2018-03-01 $80,000 (-8.0%) $128,665 (1.5%) 0.00 47
    2018-04-01 $79,500 (6.0%) $133,788 (15.7%) 0.00 42
    2018-05-01 $80,000 (8.8%) $147,589 (32.2%) 0.00 41
    2018-06-01 $99,000 (14.1%) $162,454 (32.5%) 0.00 39
    2018-07-01 $82,500 (-7.6%) $158,875 (24.6%) 0.00 41
    2018-08-01 $87,125 (2.8%) $170,653 (17.2%) 0.00 37
    2018-09-01 $112,950 (6.3%) $171,067 (5.0%) 0.00 40
    2018-10-01 $130,500 (31.8%) $178,688 (14.9%) 0.00 37
    2018-11-01 $131,000 (34.2%) $163,000 (13.3%) 0.00 35
    2018-12-01 $129,950 (31.3%) $156,988 (8.2%) 0.00 36
    2019-01-01 $140,000 (48.9%) $163,199 (12.5%) 0.00 39
    2019-02-01 $121,700 (38.3%) $150,085 (13.0%) 0.00 45
    2019-03-01 $132,400 (65.5%) $154,839 (20.3%) 0.00 45
    2019-04-01 $130,950 (64.7%) $150,689 (12.6%) 0.00 46
    2019-05-01 $99,750 (24.7%) $143,307 (-2.9%) 0.00 47
    2019-06-01 $96,000 (-3.0%) $129,427 (-20.3%) 0.00 57
    2019-07-01 $131,700 (59.6%) $152,049 (-4.3%) 0.00 46
    2019-08-01 $104,950 (20.5%) $142,275 (-16.6%) 0.00 51
    2019-09-01 $85,500 (-24.3%) $126,999 (-25.8%) 0.00 52
    2019-10-01 $84,500 (-35.3%) $121,886 (-31.8%) 0.00 51
    2019-11-01 $88,500 (-32.4%) $129,402 (-20.6%) 0.00 47
    2019-12-01 $86,000 (-33.8%) $125,749 (-19.9%) 0.00 44
    2020-01-01 $86,000 (-38.6%) $128,012 (-21.6%) 0.00 47
    2020-02-01 $88,500 (-27.3%) $133,418 (-11.1%) 0.00 40
    2020-03-01 $128,725 (-2.8%) $145,950 (-5.7%) 0.00 40
    2020-04-01 $117,000 (-10.7%) $137,437 (-8.8%) 0.00 43
    2020-05-01 $78,000 (-21.8%) $129,965 (-9.3%) 0.00 42
    2020-06-01 $85,750 (-10.7%) $136,311 (5.3%) 0.00 38
    2020-07-01 $98,919 (-24.9%) $145,251 (-4.5%) 0.00 32
    2020-08-01 $102,450 (-2.4%) $148,010 (4.0%) 0.00 31
    2020-09-01 $161,225 (88.6%) $176,739 (39.2%) 0.00 33
    2020-10-01 $174,950 (107.0%) $176,973 (45.2%) 0.00 32
    2020-11-01 $126,250 (42.7%) $155,602 (20.3%) 0.00 31
    2020-12-01 $160,500 (86.6%) $165,099 (31.3%) 0.00 23
    2021-01-01 $150,000 (74.4%) $166,189 (29.8%) 0.00 21
    2021-02-01 $139,995 (58.2%) $162,700 (22.0%) 0.00 25
    2021-03-01 $127,448 (-1.0%) $160,764 (10.2%) 0.00 24
    2021-04-01 $152,225 (30.1%) $176,789 (28.6%) 0.00 21
    2021-05-01 $215,000 (175.6%) $197,983 (52.3%) 0.00 16
    2021-06-01 $202,450 (136.1%) $183,100 (34.3%) 0.00 13
    2021-07-01 $189,900 (92.0%) $169,623 (16.8%) 0.00 13
    2021-08-01 $94,950 (-7.3%) $153,545 (3.7%) 0.00 15
    2021-09-01 $92,475 (-42.6%) $134,753 (-23.8%) 0.00 14
    2021-10-01 $80,000 (-54.3%) $126,072 (-28.8%) 0.00 19
    2021-11-01 $84,500 (-33.1%) $117,043 (-24.8%) 0.00 22
    2021-12-01 $70,225 (-56.3%) $103,744 (-37.2%) 0.00 19
    2022-01-01 $79,900 (-46.7%) $105,073 (-36.8%) 0.00 16
    2022-02-01 $94,000 (-32.9%) $128,924 (-20.8%) 0.00 13
    2022-03-01 $91,000 (-28.6%) $124,741 (-22.4%) 0.00 17
    2022-04-01 $90,000 (-40.9%) $122,295 (-30.8%) 0.00 16
    2022-05-01 $95,750 (-55.5%) $120,040 (-39.4%) 0.00 15
    2022-06-01 $91,750 (-54.7%) $125,746 (-31.3%) 0.00 13
    2022-07-01 $115,000 (-39.4%) $171,024 (0.8%) 0.00 19
    2022-08-01 $113,675 (19.7%) $159,473 (3.9%) 0.00 22
    2022-09-01 $105,125 (13.7%) $154,440 (14.6%) 0.00 22
    2022-10-01 $100,500 (25.6%) $153,044 (21.4%) 0.00 24
    2022-11-01 $47,000 (-44.4%) $105,113 (-10.2%) 0.00 34
    2022-12-01 $49,000 (-30.2%) $95,434 (-8.0%) 0.00 34
    2023-01-01 $54,900 (-31.3%) $97,993 (-6.7%) 0.00 37
    2023-02-01 $54,450 (-42.1%) $126,974 (-1.5%) 0.00 39
    2023-03-01 $59,875 (-34.2%) $119,629 (-4.1%) 0.00 29
    2023-04-01 $55,000 (-38.9%) $124,108 (1.5%) 0.00 26
    Clarksdale's median listing price for 2023-04-01 was $55,000, a difference of $-35,000 (-38.9%) versus the prior year and $-4,875 versus the prior month.

    Clarksdale's median listing price comes in at 0% of the national average.

    Clarksdale's average listing price for 2023-04-01 was $124,108, a difference of $1,813 (1.5%) versus the prior year and $4,479 versus the prior month.

    For the 2023-04-01 period, Clarksdale had 26 MLS listings, a difference of -3 listings (-10%) versus the prior month and 10 listings (63%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Clarksdale (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,484 sqft
    2018-02-01 0 days 2,181 sqft
    2018-03-01 0 days 2,021 sqft
    2018-04-01 0 days 1,834 sqft
    2018-05-01 0 days 1,846 sqft
    2018-06-01 0 days 2,165 sqft
    2018-07-01 0 days 2,071 sqft
    2018-08-01 0 days 2,071 sqft
    2018-09-01 0 days 2,100 sqft
    2018-10-01 0 days 2,166 sqft
    2018-11-01 0 days 2,200 sqft
    2018-12-01 0 days 2,163 sqft
    2019-01-01 0 days 2,159 sqft
    2019-02-01 0 days 2,166 sqft
    2019-03-01 0 days 2,366 sqft
    2019-04-01 0 days 2,537 sqft
    2019-05-01 0 days 2,521 sqft
    2019-06-01 0 days 2,552 sqft
    2019-07-01 0 days 2,454 sqft
    2019-08-01 0 days 2,385 sqft
    2019-09-01 0 days 2,150 sqft
    2019-10-01 0 days 1,965 sqft
    2019-11-01 0 days 2,370 sqft
    2019-12-01 0 days 2,313 sqft
    2020-01-01 0 days 2,205 sqft
    2020-02-01 0 days 2,309 sqft
    2020-03-01 0 days 2,243 sqft
    2020-04-01 0 days 2,405 sqft
    2020-05-01 0 days 2,340 sqft
    2020-06-01 0 days 2,322 sqft
    2020-07-01 0 days 2,227 sqft
    2020-08-01 0 days 2,316 sqft
    2020-09-01 0 days 2,633 sqft
    2020-10-01 0 days 2,617 sqft
    2020-11-01 0 days 2,430 sqft
    2020-12-01 0 days 2,654 sqft
    2021-01-01 0 days 2,584 sqft
    2021-02-01 0 days 2,557 sqft
    2021-03-01 0 days 2,524 sqft
    2021-04-01 0 days 2,584 sqft
    2021-05-01 0 days 2,854 sqft
    2021-06-01 0 days 2,962 sqft
    2021-07-01 0 days 2,295 sqft
    2021-08-01 0 days 1,893 sqft
    2021-09-01 0 days 1,786 sqft
    2021-10-01 0 days 1,745 sqft
    2021-11-01 0 days 1,755 sqft
    2021-12-01 0 days 1,615 sqft
    2022-01-01 0 days 1,577 sqft
    2022-02-01 0 days 1,553 sqft
    2022-03-01 0 days 1,821 sqft
    2022-04-01 0 days 1,745 sqft
    2022-05-01 0 days 1,894 sqft
    2022-06-01 0 days 1,848 sqft
    2022-07-01 0 days 2,599 sqft
    2022-08-01 0 days 1,922 sqft
    2022-09-01 0 days 1,835 sqft
    2022-10-01 0 days 1,863 sqft
    2022-11-01 0 days 1,474 sqft
    2022-12-01 0 days 1,437 sqft
    2023-01-01 0 days 1,474 sqft
    2023-02-01 0 days 1,478 sqft
    2023-03-01 0 days 1,538 sqft
    2023-04-01 0 days 1,557 sqft
    Clarksdale's median listing age (time on market) for 2023-04-01 was 0 days.

    Clarksdale's median square footage for active listings during the 2023-04-01 period was 1,557 sqft. One year prior, the average listing was 1,745 sqft.

    Clarksdale, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 76 $9,070,000 $119,342
    Refi 33 $3,395,000 $102,879
    Cash Out Refi 18 $2,310,000 $128,333
    Home Improvement 14 $790,000 $56,429
    Other 11 $625,000 $56,818

    Clarksdale's most frequently cited loan purpose was Home Purchase, with 76 originations. The 2nd most popular reason was Refi, with 33 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    4-5% 36 $4,690,000 $130,278
    5-6% 33 $3,505,000 $106,212
    3-4% 23 $2,695,000 $117,174
    6-7% 16 $1,780,000 $111,250
    7-8% 13 $1,255,000 $96,538
    Over 8% 8 $450,000 $56,250
    2.5-3% 6 $550,000 $91,667
    <2.5% 4 $250,000 $62,500

    During 2022, Clarksdale's most frequently originated rate bucket was 4-5%, with 36 originations.

    Loan Sizing (Clarksdale, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 98 $5,530,000 $56,429
    $100k-200k 38 $5,200,000 $136,842
    $200k-400k 11 $2,655,000 $241,364
    $600k-1000k 3 $1,905,000 $635,000
    $400k-600k 2 $900,000 $450,000

    Clarksdale's loan sizing saw the bucket of loans from $100,000 or less with 98 originations, totaling $5,530,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 70 $8,180,000 $116,857
    60-80% 40 $4,720,000 $118,000
    40-60% 14 $1,190,000 $85,000
    20-40% 7 $675,000 $96,429
    Under 20% 7 $135,000 $19,286

    Clarksdale's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 70 originations, totaling $8,180,000 in origination value.