Cortland Mortgage Rates

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

30 Year Fixed Rate mortgages in Cortland averaged 6.21% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

The average rate for the prior week (2022-06-16) was 5.78% and one month ago for the week of 2022-05-19, the average rate was 5.65%.

Cortland's average rate one year ago was 2.87%.

For refis of the same type during the week of 2022-06-23, the average rate was 6.27%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Cortland 30 Year Fixed Rate 2022-06-23 6.21%
Cortland 30 Year Fixed Rate Refi 2022-06-23 6.27%
Cortland 15 Year Fixed Rate 2022-06-23 5.59%
Cortland 15 Year Fixed Rate Refi 2022-06-23 5.48%
Cortland 30 Year FHA 2022-06-23 0.25%
Cortland 30 Year FHA Refi 2022-06-23 0.14%
Cortland 30 Year USDA 2022-06-23 0.25%
Cortland 30 Year USDA Refi 2022-06-23 4.2%
Cortland 30 Year VA 2022-06-23 0.45%
Cortland 30 Year VA Refi 2022-06-23 0.34%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Cortland, NY.

Cortland 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 Cortland, NY 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CFCU Community Credit Union 67 3.12% $1,272
NBT Bank 53 2.95% $3,356
PARAGON HOME LOANS INC. 44 2.99% $3,405
Tompkins Trust Company 43 3.04% $2,912
QUICKEN LOANS, LLC 21 3.17% $5,571
KeyBank 15 3.22% $3,050
AMERICU Credit Union 15 3.50% $3,790
1ST PRIORITY MORTGAGE, INC. 13 3.08% $3,697
Elmira Savings Bank 12 3.02% $3,179
Manufacturers and Traders Trust Company 11 3.32% $4,485
VISIONS 7 3.10% $2,425
THE SUMMIT Federal Credit Union 6 3.06% $2,582
SEFCU SERVICES, LLC 5 3.13% $2,982
Community Bank 5 3.58% $518
MOVEMENT MORTGAGE, LLC 4 3.39% $3,960
PLAZA HOME MORTGAGE, INC. 4 2.94% $7,031
ROYAL UNITED MORTGAGE LLC 3 3.88% $5,142
HOMESTEAD FUNDING CORP. 3 2.88% $3,360
UNITED WHOLESALE MORTGAGE, LLC 3 3.10% $7,130
JPMorgan Chase Bank 3 3.00% $3,136
FREEDOM MORTGAGE CORPORATION 3 3.46% $4,459
The Lyons National Bank 3 2.92% $4,914
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.19% $3,484
Citizens Bank 2 3.06% $4,216
COMMONFUND MORTGAGE CORP. 2 3.25% $3,413
Farm Credit East, ACA 2 3.83% $6,584
HOME POINT FINANCIAL CORPORATION 1 2.99% $6,737
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.38% $9,285
GHS Federal Credit Union 1 3.00% $2,890
Genesee Regional Bank 1 3.25% $3,378
Geddes Federal Savings and Loan Association 1 3.25% $3,119
Mr. Cooper ( Nationstar Mortgage ) 1 4.50% $3,332
Municipal Credit Union 1 3.50% $3,246
Flagstar Bank, FSB 1 4.13% $5,524
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.13% $3,524
PENTAGON FEDERAL CREDIT UNION 1 2.88% $2,457
Plains Commerce Bank 1 2.75% $9,406
Empower Federal Credit Union 1 3.13% $4,008
PNC Bank 1 2.75% $4,604
CONTOUR MORTGAGE CORPORATION 1 3.25% $9,127
Citibank 1 2.75% $3,675
Chemung Canal Trust Company 1 3.63% $0
CCFCU FUNDING, LLC 1 3.00% $3,164
SUNMARK FEDERAL CREDIT UNION 1 3.25% $3,969
The Federal Savings Bank 1 3.00% $4,196
Carrington Mortgage Services, LLC 1 2.88% $3,462
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.88% $4,167
TIAA, FSB 1 3.13% $5,768
CALIBER HOME LOANS, INC. 1 2.99% $3,148
BETTER MORTGAGE CORPORATION 1 3.13% $2,790
A&D Mortgage LLC 1 4.49% $7,593
Wells Fargo Bank 1 3.75% $1,062

Cortland, NY's 52 lenders originated 1,014 loans during 2021. The total origination value was $141,610,000, with an average loan value of $139,655.

The top Cortland lender as defined by loan originations is CFCU Community Credit Union, with 67 loans originated. Their average total fees are $1,272, which is $2,084 lower than the next largest lender, NBT Bank.

The lowest fee Cortland lenders (with over 10 loans originated) are CFCU Community Credit Union ($1,272), Tompkins Trust Company ($2,912), KeyBank ($3,050), Elmira Savings Bank ($3,179) and NBT Bank ($3,356).

The lowest rate Cortland lenders (with over 10 loans originated) are NBT Bank (2.95%), PARAGON HOME LOANS INC. (2.99%), Elmira Savings Bank (3.02%), Tompkins Trust Company (3.04%) and 1ST PRIORITY MORTGAGE, INC. (3.08%).

Cortland, NY 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
CFCU Community Credit Union $17,175,000 $19,130,000 11.4% 13.5%
NBT Bank $15,695,000 $16,840,000 7.3% 11.9%
PARAGON HOME LOANS INC. $16,290,000 $15,065,000 -7.5% 10.6%
QUICKEN LOANS, LLC $9,450,000 $14,460,000 53.0% 10.2%
Tompkins Trust Company $8,475,000 $12,295,000 45.1% 8.7%
KeyBank $6,900,000 $9,270,000 34.3% 6.5%
Manufacturers and Traders Trust Company $2,590,000 $4,935,000 90.5% 3.5%
1ST PRIORITY MORTGAGE, INC. $1,720,000 $4,415,000 156.7% 3.1%
Elmira Savings Bank $3,380,000 $3,775,000 11.7% 2.7%
AMERICU Credit Union $1,395,000 $3,275,000 134.8% 2.3%
THE SUMMIT Federal Credit Union $1,240,000 $2,810,000 126.6% 2.0%
Wells Fargo Bank $2,460,000 $2,275,000 -7.5% 1.6%
Citizens Bank $1,310,000 $1,570,000 19.8% 1.1%
Community Bank $290,000 $1,465,000 405.2% 1.0%
MOVEMENT MORTGAGE, LLC $945,000 $1,460,000 54.5% 1.0%
The Lyons National Bank $1,420,000 n/a 1.0%
FREEDOM MORTGAGE CORPORATION $330,000 $1,335,000 304.5% 0.9%
VISIONS $615,000 $1,325,000 115.4% 0.9%
Chemung Canal Trust Company $1,315,000 n/a 0.9%
PLAZA HOME MORTGAGE, INC. $720,000 $1,165,000 61.8% 0.8%
SEFCU SERVICES, LLC $330,000 $1,090,000 230.3% 0.8%
Empower Federal Credit Union $970,000 $1,045,000 7.7% 0.7%
BETTER MORTGAGE CORPORATION $1,000,000 n/a 0.7%
Carrington Mortgage Services, LLC $125,000 $935,000 648.0% 0.7%
HOMESTEAD FUNDING CORP. $535,000 $910,000 70.1% 0.6%
Farm Credit East, ACA $1,875,000 $780,000 -58.4% 0.6%
UNITED WHOLESALE MORTGAGE, LLC $260,000 $770,000 196.2% 0.5%
LOANDEPOT.COM, LLC $1,190,000 $760,000 -36.1% 0.5%
Solvay Bank $230,000 $710,000 208.7% 0.5%
Mortgage Research Center, LLC $570,000 $690,000 21.1% 0.5%
USAA Federal Savings Bank $320,000 $680,000 112.5% 0.5%
Mr. Cooper ( Nationstar Mortgage ) $320,000 $640,000 100.0% 0.5%
Geddes Federal Savings and Loan Association $605,000 $610,000 0.8% 0.4%
NAVY FEDERAL CREDIT UNION $770,000 $565,000 -26.6% 0.4%
Barrington Bank & Trust Company, N.A. $135,000 $535,000 296.3% 0.4%
HOMEBRIDGE FINANCIAL SERVICES, INC. $165,000 $525,000 218.2% 0.4%
CONTOUR MORTGAGE CORPORATION $145,000 $455,000 213.8% 0.3%
ROYAL UNITED MORTGAGE LLC $275,000 $455,000 65.5% 0.3%
PENTAGON FEDERAL CREDIT UNION $445,000 n/a 0.3%
CALIBER HOME LOANS, INC. $435,000 n/a 0.3%
JPMorgan Chase Bank $290,000 $425,000 46.6% 0.3%
21ST MORTGAGE CORPORATION $420,000 n/a 0.3%
HOME POINT FINANCIAL CORPORATION $115,000 $400,000 247.8% 0.3%
PRIMELENDING, A PLAINSCAPITAL COMPANY $390,000 n/a 0.3%
Tioga State Bank $1,675,000 $385,000 -77.0% 0.3%
Flagstar Bank, FSB $370,000 n/a 0.3%
NEWREZ LLC $175,000 $330,000 88.6% 0.2%
SUNMARK FEDERAL CREDIT UNION $325,000 n/a 0.2%
The Federal Savings Bank $305,000 n/a 0.2%
COMMONFUND MORTGAGE CORP. $85,000 $270,000 217.6% 0.2%
Seneca Savings $265,000 n/a 0.2%
AMERICAN FINANCIAL NETWORK, INC. $260,000 n/a 0.2%
Bank of America $45,000 $250,000 455.6% 0.2%
Plains Commerce Bank $245,000 n/a 0.2%
PNC Bank $235,000 n/a 0.2%
STATE EMPLOYEES FEDERAL CREDIT UNION $35,000 $235,000 571.4% 0.2%
Genesee Regional Bank $125,000 $230,000 84.0% 0.2%
TIAA, FSB $225,000 n/a 0.2%
Premium Mortgage Corporation $250,000 $215,000 -14.0% 0.2%
CCFCU FUNDING, LLC $195,000 n/a 0.1%
First Home Bank $65,000 $175,000 169.2% 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $145,000 n/a 0.1%
MID-ISLAND MORTGAGE CORP. $145,000 n/a 0.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $105,000 $135,000 28.6% 0.1%
SECNY Federal Credit Union $35,000 $120,000 242.9% 0.1%
A&D Mortgage LLC $115,000 n/a 0.1%
Bank of England $115,000 n/a 0.1%
OWNERSCHOICE FUNDING, INCORPORATED $135,000 $105,000 -22.2% 0.1%
PHH Mortgage Corporation $105,000 n/a 0.1%
Citibank $95,000 n/a 0.1%
GHS Federal Credit Union $45,000 $85,000 88.9% 0.1%
CORNING $115,000 $80,000 -30.4% 0.1%
Metro City Bank $125,000 $75,000 -40.0% 0.1%
Municipal Credit Union $75,000 n/a 0.1%
Ukrainian Federal Credit Union $75,000 n/a 0.1%
CAPITAL COMMUNICATIONS Federal Credit Union $65,000 n/a 0.0%
FAMILY FIRST OF NY $65,000 n/a 0.0%
Truist Bank $65,000 n/a 0.0%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $55,000 n/a 0.0%
Bethpage Federal Credit Union $45,000 n/a 0.0%
Citizens & Northern Bank $45,000 n/a 0.0%
COUNTRYSIDE Federal Credit Union $15,000 n/a 0.0%

Cortland's top lender by overall market share is CFCU Community Credit Union, with 13.5% market share. In second place, with 11.9%, is NBT Bank, having originated $16,840,000 in loans. In third place, with 10.6%, is PARAGON HOME LOANS INC., having originated $15,065,000 in loans. In third place, with 10.2%, is QUICKEN LOANS, LLC, having originated $14,460,000 in loans. In third place, with 8.7%, is Tompkins Trust Company, having originated $12,295,000 in loans.


Cortland, NY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 514 $81,050,000 $157,685
Refi 260 $34,010,000 $130,808
Cash Out Refi 127 $17,995,000 $141,693
Other 58 $4,320,000 $74,483
Home Improvement 55 $4,235,000 $77,000

Cortland's most frequently cited loan purpose was Home Purchase, with 514 originations. The 2nd most popular reason was Refi, with 260 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 449 $62,115,000 $138,341
3-4% 344 $50,880,000 $147,907
<2.5% 152 $19,880,000 $130,789
4-5% 38 $5,810,000 $152,895
5-6% 6 $290,000 $48,333
6-7% 5 $375,000 $75,000
7-8% 3 $275,000 $91,667
Over 8% 3 $195,000 $65,000

During 2021, Cortland's most frequently originated rate bucket was 2.5-3%, with 449 originations.

Loan Sizing (Cortland, NY MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 507 $70,945,000 $139,931
$100,000 or less 345 $22,455,000 $65,087
$200k-400k 144 $35,740,000 $248,194
$400k-600k 9 $4,145,000 $460,556
$600k-1000k 5 $3,615,000 $723,000
$Over $1MM 4 $4,710,000 $1,177,500

Cortland's loan sizing saw the bucket of loans from $100k-200k with 507 originations, totaling $70,945,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 431 $69,735,000 $161,798
60-80% 320 $48,640,000 $152,000
40-60% 120 $11,170,000 $93,083
20-40% 75 $4,285,000 $57,133
Under 20% 43 $1,195,000 $27,791
Over 100% 9 $3,165,000 $351,667

Cortland's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 431 originations, totaling $69,735,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cortland (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 $125,900 (-6.7%) $152,887 (-8.5%) 0.00 205
2018-02-01 $120,000 (-9.4%) $146,320 (-11.7%) 0.00 203
2018-03-01 $120,000 (-10.4%) $147,657 (-11.9%) 0.00 184
2018-04-01 $119,900 (-17.3%) $150,746 (-16.2%) 0.00 203
2018-05-01 $129,450 (-7.5%) $156,880 (-13.7%) 0.00 202
2018-06-01 $134,900 (-14.8%) $171,589 (-12.9%) 0.00 213
2018-07-01 $139,200 (-11.3%) $172,296 (-10.8%) 0.00 249
2018-08-01 $135,700 (-9.2%) $167,185 (-12.3%) 0.00 240
2018-09-01 $125,000 (-10.7%) $162,762 (-12.4%) 0.00 244
2018-10-01 $128,000 (-5.2%) $160,314 (-11.2%) 0.00 238
2018-11-01 $121,950 (-9.7%) $157,994 (-10.2%) 0.00 219
2018-12-01 $114,000 (-14.0%) $148,841 (-13.1%) 0.00 208
2019-01-01 $114,450 (-9.1%) $150,748 (-1.4%) 0.00 187
2019-02-01 $105,000 (-12.5%) $147,956 (1.1%) 0.00 177
2019-03-01 $111,571 (-7.0%) $155,504 (5.3%) 0.00 181
2019-04-01 $115,000 (-4.1%) $162,296 (7.7%) 0.00 174
2019-05-01 $132,400 (2.3%) $166,827 (6.3%) 0.00 190
2019-06-01 $139,900 (3.7%) $178,730 (4.2%) 0.00 223
2019-07-01 $150,000 (7.8%) $196,401 (14.0%) 0.00 232
2019-08-01 $148,286 (9.3%) $197,068 (17.9%) 0.00 231
2019-09-01 $146,000 (16.8%) $197,048 (21.1%) 0.00 221
2019-10-01 $142,450 (11.3%) $187,427 (16.9%) 0.00 226
2019-11-01 $139,900 (14.7%) $189,111 (19.7%) 0.00 216
2019-12-01 $129,450 (13.6%) $185,937 (24.9%) 0.00 183
2020-01-01 $129,700 (13.3%) $186,750 (23.9%) 0.00 171
2020-02-01 $135,000 (28.6%) $191,222 (29.2%) 0.00 171
2020-03-01 $135,850 (21.8%) $187,077 (20.3%) 0.00 168
2020-04-01 $135,900 (18.2%) $191,949 (18.3%) 0.00 151
2020-05-01 $142,500 (7.6%) $195,576 (17.2%) 0.00 153
2020-06-01 $174,900 (25.0%) $204,578 (14.5%) 0.00 170
2020-07-01 $167,000 (11.3%) $197,835 (0.7%) 0.00 160
2020-08-01 $159,000 (7.2%) $208,976 (6.0%) 0.00 149
2020-09-01 $138,900 (-4.9%) $189,982 (-3.6%) 0.00 138
2020-10-01 $134,900 (-5.3%) $187,782 (0.2%) 0.00 131
2020-11-01 $169,450 (21.1%) $192,450 (1.8%) 0.00 102
2020-12-01 $175,950 (35.9%) $222,408 (19.6%) 0.00 87
2021-01-01 $155,000 (19.5%) $223,413 (19.6%) 0.00 73
2021-02-01 $147,450 (9.2%) $222,869 (16.6%) 0.00 75
2021-03-01 $151,200 (11.3%) $232,832 (24.5%) 0.00 72
2021-04-01 $172,400 (26.9%) $189,325 (-1.4%) 0.00 69
2021-05-01 $167,900 (17.8%) $199,598 (2.1%) 0.00 69
2021-06-01 $177,450 (1.5%) $196,917 (-3.7%) 0.00 69
2021-07-01 $154,900 (-7.3%) $191,088 (-3.4%) 0.00 80
2021-08-01 $159,900 (0.6%) $204,011 (-2.4%) 0.00 89
2021-09-01 $150,000 (8.0%) $222,758 (17.3%) 0.00 87
2021-10-01 $169,900 (26.0%) $241,068 (28.4%) 0.00 78
2021-11-01 $189,900 (12.1%) $244,157 (26.9%) 0.00 76
2021-12-01 $194,000 (10.3%) $266,204 (19.7%) 0.00 68
2022-01-01 $179,900 (16.1%) $253,580 (13.5%) 0.00 56
2022-02-01 $191,000 (29.5%) $262,116 (17.6%) 0.00 49
2022-03-01 $170,000 (12.4%) $242,557 (4.2%) 0.00 57
2022-04-01 $174,900 (1.5%) $235,943 (24.6%) 0.00 57
2022-05-01 $182,450 (8.7%) $233,353 (16.9%) 0.00 49
Cortland's median listing price for 2022-05-01 was $182,450, a difference of $14,550 (8.7%) versus the prior year and $7,550 versus the prior month.

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

Cortland's average listing price for 2022-05-01 was $233,353, a difference of $33,755 (16.9%) versus the prior year and $-2,590 versus the prior month.

For the 2022-05-01 period, Cortland had 49 MLS listings, a difference of -8 listings (-14%) versus the prior month and -20 listings (-29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cortland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,516 sqft
2018-02-01 0 days 1,493 sqft
2018-03-01 0 days 1,508 sqft
2018-04-01 0 days 1,518 sqft
2018-05-01 0 days 1,559 sqft
2018-06-01 0 days 1,594 sqft
2018-07-01 0 days 1,583 sqft
2018-08-01 0 days 1,580 sqft
2018-09-01 0 days 1,560 sqft
2018-10-01 0 days 1,551 sqft
2018-11-01 0 days 1,532 sqft
2018-12-01 0 days 1,400 sqft
2019-01-01 0 days 1,416 sqft
2019-02-01 0 days 1,416 sqft
2019-03-01 0 days 1,460 sqft
2019-04-01 0 days 1,458 sqft
2019-05-01 0 days 1,510 sqft
2019-06-01 0 days 1,566 sqft
2019-07-01 0 days 1,580 sqft
2019-08-01 0 days 1,579 sqft
2019-09-01 0 days 1,583 sqft
2019-10-01 0 days 1,592 sqft
2019-11-01 0 days 1,604 sqft
2019-12-01 0 days 1,547 sqft
2020-01-01 0 days 1,553 sqft
2020-02-01 0 days 1,554 sqft
2020-03-01 0 days 1,551 sqft
2020-04-01 0 days 1,503 sqft
2020-05-01 0 days 1,444 sqft
2020-06-01 0 days 1,566 sqft
2020-07-01 0 days 1,638 sqft
2020-08-01 0 days 1,652 sqft
2020-09-01 0 days 1,652 sqft
2020-10-01 0 days 1,572 sqft
2020-11-01 0 days 1,644 sqft
2020-12-01 0 days 1,757 sqft
2021-01-01 0 days 1,746 sqft
2021-02-01 0 days 1,690 sqft
2021-03-01 0 days 1,644 sqft
2021-04-01 0 days 1,664 sqft
2021-05-01 0 days 1,664 sqft
2021-06-01 0 days 1,584 sqft
2021-07-01 0 days 1,624 sqft
2021-08-01 0 days 1,632 sqft
2021-09-01 0 days 1,607 sqft
2021-10-01 0 days 1,721 sqft
2021-11-01 0 days 1,711 sqft
2021-12-01 0 days 1,734 sqft
2022-01-01 0 days 1,730 sqft
2022-02-01 0 days 1,730 sqft
2022-03-01 0 days 1,680 sqft
2022-04-01 0 days 1,704 sqft
2022-05-01 0 days 1,633 sqft
Cortland's median listing age (time on market) for 2022-05-01 was 0 days.

Cortland's median square footage for active listings during the 2022-05-01 period was 1,633 sqft. One year prior, the average listing was 1,664 sqft.