Elk City 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 Elk City averaged 6.97% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

    The average rate for the prior week (2023-03-16) was 6.95% and one month ago for the week of 2023-02-16, the average rate was 6.87%.

    Elk City's average rate one year ago was 4.3%.

    For refis of the same type during the week of 2023-03-23, the average rate was 7.03%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-23 6.42%
    Elk City 30 Year Fixed Rate 2023-03-23 6.97%
    Elk City 30 Year Fixed Rate Refi 2023-03-23 7.03%
    Elk City 15 Year Fixed Rate 2023-03-23 7.32%
    Elk City 15 Year Fixed Rate Refi 2023-03-23 6.61%
    Elk City 30 Year FHA 2023-03-23 6.22%
    Elk City 30 Year FHA Refi 2023-03-23 6.19%
    Elk City 30 Year USDA 2023-03-23 6.33%
    Elk City 30 Year USDA Refi 2023-03-23 6.35%
    Elk City 30 Year VA 2023-03-23 6.56%
    Elk City 30 Year VA Refi 2023-03-23 5.62%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Elk City, OK.

    Elk 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 Elk City, OK 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
    INTERLINC MORTGAGE SERVICES, LLC 30 5.26% $4,322
    Great Plains National Bank 11 5.48% $4,744
    QUICKEN LOANS, LLC 10 5.31% $5,992
    InterBank 8 5.39% $2,331
    Wells Fargo Bank 3 4.13% $5,335
    BancFirst 3 5.63% $4,554
    LOANDEPOT.COM, LLC 3 5.33% $4,310
    MID AMERICA MORTGAGE, INC. 3 5.25% $4,925
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.31% $5,619
    GUARANTEED RATE, INC. 2 6.43% $3,674
    HOME POINT FINANCIAL CORPORATION 2 5.38% $3,633
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 5.75% $5,941
    Discover Bank 1 7.74% $0
    F & M Bank 1 5.49% $4,004
    Bank of England 1 5.88% $5,129
    Bank of America 1 4.88% $4,966
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 6.63% $10,484
    U.S. Bank 1 3.63% $2,857
    AMCAP MORTGAGE, LTD. 1 5.88% $7,574
    OPEN MORTGAGE, LLC 1 5.99% $5,188
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $4,370
    Prosperity Bank 1 4.00% $6,228
    AMERICAN FINANCING CORPORATION 1 6.13% $4,398
    SUN WEST MORTGAGE COMPANY, INC. 1 7.12% $2,717
    UNIFY FINANCIAL Credit Union 1 4.58% $2,501
    UNITED WHOLESALE MORTGAGE, LLC 1 5.38% $3,949
    BOKF 1 3.88% $3,787
    BROKER SOLUTIONS, INC. 1 5.63% $5,910
    CERTAINTY HOME LOANS, LLC 1 5.63% $3,473
    CHERRY CREEK MORTGAGE, LLC 1 2.75% $123
    CROSSCOUNTRY MORTGAGE, LLC 1 6.00% $6,158

    Elk City Average Closing Costs & Other Stats

    Elk City, OK's 31 lenders originated 313 loans during 2022. The total origination value was $50,065,000, with an average loan value of $159,952.

    Elk City's average closing costs are $4,458.

    The top Elk City lender as defined by loan originations is INTERLINC MORTGAGE SERVICES, LLC, with 30 loans originated. Their average total fees are $4,322, which is $421 lower than the next largest lender, Great Plains National Bank.

    The lowest fee Elk City lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC ($4,322), Great Plains National Bank ($4,744), QUICKEN LOANS, LLC ($5,992), .

    The lowest rate Elk City lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC (5.26%), QUICKEN LOANS, LLC (5.31%), Great Plains National Bank (5.48%), .

    Elk City, OK 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
    INTERLINC MORTGAGE SERVICES, LLC $10,570,000 $11,785,000 11.5% 23.5%
    Great Plains National Bank $6,000,000 $8,355,000 39.3% 16.7%
    QUICKEN LOANS, LLC $6,235,000 $4,365,000 -30.0% 8.7%
    InterBank $5,845,000 $2,820,000 -51.8% 5.6%
    MID AMERICA MORTGAGE, INC. $10,345,000 $2,765,000 -73.3% 5.5%
    UNITED WHOLESALE MORTGAGE, LLC $155,000 $1,990,000 1,183.9% 4.0%
    Mortgage Research Center, LLC $1,170,000 $1,755,000 50.0% 3.5%
    HOME POINT FINANCIAL CORPORATION $2,060,000 $1,475,000 -28.4% 2.9%
    Wells Fargo Bank $875,000 $1,155,000 32.0% 2.3%
    LOANDEPOT.COM, LLC $2,655,000 $915,000 -65.5% 1.8%
    CROSSCOUNTRY MORTGAGE, LLC $665,000 n/a 1.3%
    F & M Bank $685,000 $660,000 -3.6% 1.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $405,000 $630,000 55.6% 1.3%
    SUN WEST MORTGAGE COMPANY, INC. $625,000 n/a 1.2%
    FINANCIAL CONCEPTS MORTGAGE, LLC $610,000 n/a 1.2%
    U.S. Bank $765,000 $555,000 -27.5% 1.1%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $510,000 n/a 1.0%
    GUARANTEED RATE, INC. $430,000 $460,000 7.0% 0.9%
    FREEDOM MORTGAGE CORPORATION $1,275,000 $425,000 -66.7% 0.8%
    NAVY FEDERAL CREDIT UNION $75,000 $425,000 466.7% 0.8%
    BancFirst $335,000 $420,000 25.4% 0.8%
    Prosperity Bank $645,000 $415,000 -35.7% 0.8%
    AMERISAVE MORTGAGE CORPORATION $1,025,000 $400,000 -61.0% 0.8%
    NEW DAY FINANCIAL, LLC $335,000 $340,000 1.5% 0.7%
    Carrington Mortgage Services, LLC $330,000 n/a 0.7%
    CHERRY CREEK MORTGAGE, LLC $325,000 n/a 0.6%
    UMB Bank $305,000 n/a 0.6%
    LEGEND LENDING CORPORATION $290,000 n/a 0.6%
    Barrington Bank & Trust Company, N.A. $260,000 $275,000 5.8% 0.5%
    PENNYMAC LOAN SERVICES, LLC $550,000 $260,000 -52.7% 0.5%
    Legacy Bank $50,000 $245,000 390.0% 0.5%
    VANDERBILT MORTGAGE AND FINANCE, INC. $175,000 $215,000 22.9% 0.4%
    21ST MORTGAGE CORPORATION $205,000 n/a 0.4%
    NFM, INC. $205,000 n/a 0.4%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $195,000 n/a 0.4%
    BROKER SOLUTIONS, INC. $1,155,000 $195,000 -83.1% 0.4%
    CERTAINTY HOME LOANS, LLC $185,000 n/a 0.4%
    AMCAP MORTGAGE, LTD. $155,000 n/a 0.3%
    Arvest Bank $210,000 $150,000 -28.6% 0.3%
    BOKF $340,000 $145,000 -57.4% 0.3%
    Equity Prime Mortgage LLC $135,000 n/a 0.3%
    JPMorgan Chase Bank $590,000 $125,000 -78.8% 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $210,000 $125,000 -40.5% 0.2%
    UNIFY FINANCIAL Credit Union $125,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $620,000 $115,000 -81.5% 0.2%
    Discover Bank $115,000 n/a 0.2%
    OPEN MORTGAGE, LLC $115,000 n/a 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $115,000 n/a 0.2%
    AMERICAN FINANCING CORPORATION $175,000 $105,000 -40.0% 0.2%
    Bank of England $105,000 n/a 0.2%
    CORNERSTONE HOME LENDING, INC. $595,000 $105,000 -82.4% 0.2%
    Bank of America $155,000 $95,000 -38.7% 0.2%
    First United Bank and Trust Company $410,000 $95,000 -76.8% 0.2%
    NEWREZ LLC $820,000 $95,000 -88.4% 0.2%
    PHH Mortgage Corporation $95,000 n/a 0.2%
    LENDINGHOME FUNDING CORPORATION $55,000 n/a 0.1%
    LOANPAL, LLC $55,000 n/a 0.1%
    All America Bank $170,000 $45,000 -73.5% 0.1%
    Tinker Federal Credit Union $45,000 n/a 0.1%

    Elk City's top lender by overall market share is INTERLINC MORTGAGE SERVICES, LLC, with 23.5% market share. In second place, with 16.7%, is Great Plains National Bank, having originated $8,355,000 in loans. In third place, with 8.7%, is QUICKEN LOANS, LLC, having originated $4,365,000 in loans. In fourth place, with 5.6%, is InterBank, having originated $2,820,000 in loans. In fifth place, with 5.5%, is MID AMERICA MORTGAGE, INC., having originated $2,765,000 in loans.

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

    Realtor.com - Elk City (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 $128,450 (-7.8%) $170,647 (11.7%) 0.00 196
    2018-02-01 $128,500 (-5.9%) $170,818 (16.0%) 0.00 199
    2018-03-01 $125,000 (-7.3%) $165,636 (12.1%) 0.00 209
    2018-04-01 $129,900 (-3.8%) $168,245 (10.0%) 0.00 223
    2018-05-01 $129,950 (-6.0%) $172,086 (7.4%) 0.00 221
    2018-06-01 $139,000 (-0.4%) $175,072 (9.6%) 0.00 236
    2018-07-01 $134,850 (-5.6%) $168,814 (5.8%) 0.00 227
    2018-08-01 $134,600 (-0.3%) $170,427 (9.0%) 0.00 226
    2018-09-01 $133,250 (-1.3%) $171,126 (8.4%) 0.00 210
    2018-10-01 $145,000 (7.4%) $179,034 (12.5%) 0.00 212
    2018-11-01 $149,325 (10.7%) $180,018 (12.6%) 0.00 220
    2018-12-01 $147,000 (13.1%) $179,938 (6.5%) 0.00 220
    2019-01-01 $144,225 (12.3%) $174,833 (2.5%) 0.00 211
    2019-02-01 $142,225 (10.7%) $177,557 (4.0%) 0.00 204
    2019-03-01 $146,829 (17.5%) $177,376 (7.1%) 0.00 197
    2019-04-01 $149,950 (15.4%) $185,313 (10.1%) 0.00 194
    2019-05-01 $149,950 (15.4%) $179,799 (4.5%) 0.00 193
    2019-06-01 $149,900 (7.8%) $175,737 (0.4%) 0.00 202
    2019-07-01 $149,000 (10.5%) $172,643 (2.3%) 0.00 198
    2019-08-01 $147,818 (9.8%) $172,920 (1.5%) 0.00 199
    2019-09-01 $149,045 (11.9%) $174,231 (1.8%) 0.00 198
    2019-10-01 $149,950 (3.4%) $175,105 (-2.2%) 0.00 197
    2019-11-01 $149,900 (0.4%) $172,430 (-4.2%) 0.00 190
    2019-12-01 $149,925 (2.0%) $169,177 (-6.0%) 0.00 203
    2020-01-01 $148,750 (3.1%) $167,965 (-3.9%) 0.00 204
    2020-02-01 $146,250 (2.8%) $163,586 (-7.9%) 0.00 196
    2020-03-01 $145,625 (-0.8%) $165,601 (-6.6%) 0.00 193
    2020-04-01 $146,000 (-2.6%) $170,233 (-8.1%) 0.00 199
    2020-05-01 $139,450 (-7.0%) $165,462 (-8.0%) 0.00 197
    2020-06-01 $139,000 (-7.3%) $168,949 (-3.9%) 0.00 172
    2020-07-01 $126,500 (-15.1%) $168,014 (-2.7%) 0.00 175
    2020-08-01 $130,950 (-11.4%) $170,883 (-1.2%) 0.00 169
    2020-09-01 $139,475 (-6.4%) $176,478 (1.3%) 0.00 156
    2020-10-01 $135,000 (-10.0%) $166,940 (-4.7%) 0.00 169
    2020-11-01 $134,750 (-10.1%) $167,767 (-2.7%) 0.00 158
    2020-12-01 $135,000 (-10.0%) $170,141 (0.6%) 0.00 158
    2021-01-01 $132,000 (-11.3%) $189,664 (12.9%) 0.00 155
    2021-02-01 $135,450 (-7.4%) $232,015 (41.8%) 0.00 151
    2021-03-01 $139,675 (-4.1%) $231,873 (40.0%) 0.00 150
    2021-04-01 $134,950 (-7.6%) $235,444 (38.3%) 0.00 153
    2021-05-01 $135,500 (-2.8%) $256,839 (55.2%) 0.00 137
    2021-06-01 $147,450 (6.1%) $277,367 (64.2%) 0.00 140
    2021-07-01 $159,900 (26.4%) $300,435 (78.8%) 0.00 144
    2021-08-01 $159,900 (22.1%) $306,970 (79.6%) 0.00 129
    2021-09-01 $162,250 (16.3%) $320,133 (81.4%) 0.00 128
    2021-10-01 $159,200 (17.9%) $309,904 (85.6%) 0.00 130
    2021-11-01 $160,450 (19.1%) $315,414 (88.0%) 0.00 119
    2021-12-01 $159,975 (18.5%) $287,886 (69.2%) 0.00 101
    2022-01-01 $158,500 (20.1%) $258,441 (36.3%) 0.00 97
    2022-02-01 $158,000 (16.7%) $206,205 (-11.1%) 0.00 96
    2022-03-01 $144,475 (3.4%) $199,365 (-14.0%) 0.00 90
    2022-04-01 $118,400 (-12.3%) $181,070 (-23.1%) 0.00 84
    2022-05-01 $136,000 (0.4%) $196,214 (-23.6%) 0.00 82
    2022-06-01 $126,975 (-13.9%) $195,640 (-29.5%) 0.00 100
    2022-07-01 $152,450 (-4.7%) $211,779 (-29.5%) 0.00 114
    2022-08-01 $154,975 (-3.1%) $215,822 (-29.7%) 0.00 110
    2022-09-01 $154,950 (-4.5%) $223,501 (-30.2%) 0.00 101
    2022-10-01 $157,450 (-1.1%) $236,029 (-23.8%) 0.00 92
    2022-11-01 $159,950 (-0.3%) $237,517 (-24.7%) 0.00 94
    2022-12-01 $159,900 (-0.1%) $231,358 (-19.6%) 0.00 97
    2023-01-01 $157,400 (-0.7%) $225,015 (-12.9%) 0.00 94
    2023-02-01 $184,925 (17.0%) $223,227 (8.3%) 0.00 94
    Elk City's median listing price for 2023-02-01 was $184,925, a difference of $26,925 (17.0%) versus the prior year and $27,525 versus the prior month.

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

    Elk City's average listing price for 2023-02-01 was $223,227, a difference of $17,022 (8.3%) versus the prior year and $-1,788 versus the prior month.

    For the 2023-02-01 period, Elk City had 94 MLS listings, a difference of 0 listings (0%) versus the prior month and -2 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elk City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,637 sqft
    2018-02-01 0 days 1,615 sqft
    2018-03-01 0 days 1,524 sqft
    2018-04-01 0 days 1,602 sqft
    2018-05-01 0 days 1,571 sqft
    2018-06-01 0 days 1,599 sqft
    2018-07-01 0 days 1,600 sqft
    2018-08-01 0 days 1,601 sqft
    2018-09-01 0 days 1,684 sqft
    2018-10-01 0 days 1,674 sqft
    2018-11-01 0 days 1,718 sqft
    2018-12-01 0 days 1,716 sqft
    2019-01-01 0 days 1,706 sqft
    2019-02-01 0 days 1,690 sqft
    2019-03-01 0 days 1,715 sqft
    2019-04-01 0 days 1,747 sqft
    2019-05-01 0 days 1,747 sqft
    2019-06-01 0 days 1,724 sqft
    2019-07-01 0 days 1,677 sqft
    2019-08-01 0 days 1,677 sqft
    2019-09-01 0 days 1,683 sqft
    2019-10-01 0 days 1,685 sqft
    2019-11-01 0 days 1,638 sqft
    2019-12-01 0 days 1,618 sqft
    2020-01-01 0 days 1,631 sqft
    2020-02-01 0 days 1,620 sqft
    2020-03-01 0 days 1,630 sqft
    2020-04-01 0 days 1,631 sqft
    2020-05-01 0 days 1,608 sqft
    2020-06-01 0 days 1,622 sqft
    2020-07-01 0 days 1,629 sqft
    2020-08-01 0 days 1,658 sqft
    2020-09-01 0 days 1,621 sqft
    2020-10-01 0 days 1,608 sqft
    2020-11-01 0 days 1,564 sqft
    2020-12-01 0 days 1,603 sqft
    2021-01-01 0 days 1,587 sqft
    2021-02-01 0 days 1,541 sqft
    2021-03-01 0 days 1,595 sqft
    2021-04-01 0 days 1,582 sqft
    2021-05-01 0 days 1,608 sqft
    2021-06-01 0 days 1,675 sqft
    2021-07-01 0 days 1,730 sqft
    2021-08-01 0 days 1,696 sqft
    2021-09-01 0 days 1,716 sqft
    2021-10-01 0 days 1,755 sqft
    2021-11-01 0 days 1,741 sqft
    2021-12-01 0 days 1,643 sqft
    2022-01-01 0 days 1,641 sqft
    2022-02-01 0 days 1,591 sqft
    2022-03-01 0 days 1,628 sqft
    2022-04-01 0 days 1,448 sqft
    2022-05-01 0 days 1,586 sqft
    2022-06-01 0 days 1,573 sqft
    2022-07-01 0 days 1,614 sqft
    2022-08-01 0 days 1,589 sqft
    2022-09-01 0 days 1,623 sqft
    2022-10-01 0 days 1,719 sqft
    2022-11-01 0 days 1,775 sqft
    2022-12-01 0 days 1,717 sqft
    2023-01-01 0 days 1,718 sqft
    2023-02-01 0 days 1,766 sqft
    Elk City's median listing age (time on market) for 2023-02-01 was 0 days.

    Elk City's median square footage for active listings during the 2023-02-01 period was 1,766 sqft. One year prior, the average listing was 1,591 sqft.

    Elk City, OK Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 230 $37,440,000 $162,783
    Refi 37 $5,515,000 $149,054
    Cash Out Refi 34 $6,120,000 $180,000
    Home Improvement 6 $460,000 $76,667
    Other 6 $530,000 $88,333

    Elk City's most frequently cited loan purpose was Home Purchase, with 230 originations. The 2nd most popular reason was Refi, with 37 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 105 $17,635,000 $167,952
    4-5% 66 $11,140,000 $168,788
    6-7% 50 $7,380,000 $147,600
    3-4% 43 $7,895,000 $183,605
    7-8% 22 $2,450,000 $111,364
    2.5-3% 12 $2,180,000 $181,667
    Over 8% 8 $610,000 $76,250
    <2.5% 3 $485,000 $161,667

    During 2022, Elk City's most frequently originated rate bucket was 5-6%, with 105 originations.

    Loan Sizing (Elk City, OK MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 145 $20,735,000 $143,000
    $100,000 or less 83 $5,245,000 $63,193
    $200k-400k 74 $18,860,000 $254,865
    $400k-600k 10 $4,380,000 $438,000
    $600k-1000k 1 $845,000 $845,000

    Elk City's loan sizing saw the bucket of loans from $100k-200k with 145 originations, totaling $20,735,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 187 $33,225,000 $177,674
    60-80% 71 $10,295,000 $145,000
    40-60% 29 $4,405,000 $151,897
    20-40% 12 $680,000 $56,667
    Over 100% 4 $730,000 $182,500
    Under 20% 4 $230,000 $57,500

    Elk City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 187 originations, totaling $33,225,000 in origination value.