ERIE Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Erie averaged
6.79%
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
6.62% and
one month ago for the week of 2024-10-03, the
average rate was 6.12%.
Erie's average rate one year ago was 7.96%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.19%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Erie 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Erie 30 Year Fixed Rate Refi | 2024-11-07 | 7.19% |
| Erie 15 Year Fixed Rate | 2024-11-07 | 6.24% |
| Erie 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Erie 30 Year FHA | 2024-11-07 | 6.53% |
| Erie 30 Year FHA Refi | 2024-11-07 | 6.43% |
| Erie 30 Year USDA | 2024-11-07 | 6.28% |
| Erie 30 Year USDA Refi | 2024-11-07 | 6.68% |
| Erie 30 Year VA | 2024-11-07 | 6.38% |
| Erie 30 Year VA Refi | 2024-11-07 | 6.44% |
ERIE 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 ERIE, PA 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.).
ERIE Average Closing Costs & Other Stats
ERIE, PA's 109 lenders originated 4,286
loans during 2023. The total origination value was $620,820,000, with an average loan value of
$144,848.
ERIE's average closing costs are $5,078.
The top ERIE lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
196 loans originated. Their average total fees are
$8,101, which is $4,978
higher than the next largest lender,
Marquette Savings Bank.
The lowest fee ERIE lenders (with over 10 loans originated) are
PENNSYLVANIA STATE EMPLOYEES Credit Union ($2,892), Marquette Savings Bank ($3,122), Widget Federal Credit Union ($3,370), CNB Bank ($4,473) and AFFORDABLE MORTGAGE ADVISORS, LLC. ($4,506).
The lowest rate ERIE lenders (with over 10 loans originated) are
Widget Federal Credit Union (6.25%), PENNSYLVANIA STATE EMPLOYEES Credit Union (6.29%), CNB Bank (6.39%), Northwest Bank (6.52%) and Marquette Savings Bank (6.54%).
ERIE, PA 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 |
|---|---|---|---|---|
| Marquette Savings Bank | $80,035,000 | $82,845,000 | 3.5% | 13.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $32,265,000 | $54,975,000 | 70.4% | 8.9% |
| Northwest Bank | $101,670,000 | $47,040,000 | -53.7% | 7.6% |
| QUICKEN LOANS, LLC | $46,780,000 | $33,405,000 | -28.6% | 5.4% |
| CNB Bank | $58,810,000 | $33,380,000 | -43.2% | 5.4% |
| ERIE FEDERAL CREDIT UNION | $35,540,000 | $31,425,000 | -11.6% | 5.1% |
| First National Bank of Pennsylvania | $34,865,000 | $27,945,000 | -19.8% | 4.5% |
| PNC Bank | $52,780,000 | $26,960,000 | -48.9% | 4.3% |
| MOVEMENT MORTGAGE, LLC | $26,700,000 | $21,480,000 | -19.6% | 3.5% |
| Citizens Bank | $38,000,000 | $20,310,000 | -46.6% | 3.3% |
| NEXTIER BANK, NATIONAL ASSOCIATION | $1,155,000 | $16,605,000 | 1,337.7% | 2.7% |
| ORIX REAL ESTATE CAPITAL, LLC | $16,125,000 | n/a | 2.6% | |
| AFFORDABLE MORTGAGE ADVISORS, LLC. | $22,230,000 | $12,870,000 | -42.1% | 2.1% |
| EQUITY RESOURCES, INC. | $13,425,000 | $12,505,000 | -6.9% | 2.0% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $17,440,000 | $11,625,000 | -33.3% | 1.9% |
| Widget Federal Credit Union | $20,000,000 | $11,030,000 | -44.9% | 1.8% |
| Mortgage Research Center, LLC | $14,525,000 | $9,280,000 | -36.1% | 1.5% |
| PENNYMAC LOAN SERVICES, LLC | $3,755,000 | $8,155,000 | 117.2% | 1.3% |
| The Huntington National Bank | $9,900,000 | $6,680,000 | -32.5% | 1.1% |
| Mercer County State Bank | $5,700,000 | $6,055,000 | 6.2% | 1.0% |
| FIRST HERITAGE FINANCIAL, LLC | $3,050,000 | $5,880,000 | 92.8% | 0.9% |
| PLAZA HOME MORTGAGE, INC. | $5,920,000 | $5,315,000 | -10.2% | 0.9% |
| PENNSYLVANIA STATE EMPLOYEES Credit Union | $5,310,000 | $4,985,000 | -6.1% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $3,755,000 | $4,225,000 | 12.5% | 0.7% |
| Baxter Credit Union | $25,000 | $3,765,000 | 14,960.0% | 0.6% |
| The Andover Bank | $9,995,000 | $3,680,000 | -63.2% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $3,820,000 | $3,515,000 | -8.0% | 0.6% |
| Plains Commerce Bank | $65,000 | $3,370,000 | 5,084.6% | 0.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,215,000 | $3,270,000 | 47.6% | 0.5% |
| KeyBank | $5,375,000 | $2,880,000 | -46.4% | 0.5% |
| WALKER & DUNLOP, LLC | $36,505,000 | $2,875,000 | -92.1% | 0.5% |
| Flagstar Bank, FSB | $20,470,000 | $2,575,000 | -87.4% | 0.4% |
| JPMorgan Chase Bank | $1,885,000 | $2,250,000 | 19.4% | 0.4% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $2,225,000 | n/a | 0.4% | |
| USAA Federal Savings Bank | $825,000 | $2,130,000 | 158.2% | 0.3% |
| Equity Prime Mortgage LLC | $1,985,000 | $2,110,000 | 6.3% | 0.3% |
| BROKER SOLUTIONS, INC. | $2,020,000 | $2,010,000 | -0.5% | 0.3% |
| RELIANCE FIRST CAPITAL, LLC | $1,080,000 | $1,945,000 | 80.1% | 0.3% |
| SOUTHPOINT FINANCIAL SERVICES, INC. | $4,270,000 | $1,750,000 | -59.0% | 0.3% |
| Wells Fargo Bank | $5,870,000 | $1,740,000 | -70.4% | 0.3% |
| Tendto Credit Union | $1,675,000 | n/a | 0.3% | |
| The Farmers National Bank of Canfield | $1,610,000 | n/a | 0.3% | |
| LOANDEPOT.COM, LLC | $4,855,000 | $1,535,000 | -68.4% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,160,000 | $1,475,000 | -53.3% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $5,710,000 | $1,465,000 | -74.3% | 0.2% |
| Ixonia Bank | $1,440,000 | n/a | 0.2% | |
| Discover Bank | $885,000 | $1,285,000 | 45.2% | 0.2% |
| MidAtlantic Farm Credit, ACA | $1,800,000 | $1,270,000 | -29.4% | 0.2% |
| First Commonwealth Bank | $840,000 | $1,265,000 | 50.6% | 0.2% |
| Fulton Bank | $1,235,000 | n/a | 0.2% | |
| UNION HOME MORTGAGE CORP. | $8,515,000 | $1,180,000 | -86.1% | 0.2% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $655,000 | $1,150,000 | 75.6% | 0.2% |
| The Federal Savings Bank | $420,000 | $1,130,000 | 169.0% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $545,000 | $1,090,000 | 100.0% | 0.2% |
| UTILITIES EMPLOYEES CREDIT UNION | $1,335,000 | $1,085,000 | -18.7% | 0.2% |
| U.S. Bank | $1,130,000 | $940,000 | -16.8% | 0.2% |
| CARDINAL FINANCIAL | $1,205,000 | $935,000 | -22.4% | 0.2% |
| ZILLOW HOME LOANS, LLC | $1,075,000 | $915,000 | -14.9% | 0.1% |
| Truist | $3,375,000 | $885,000 | -73.8% | 0.1% |
| LIBERTY HOME MORTGAGE CORPORATION | $320,000 | $880,000 | 175.0% | 0.1% |
| MICHIGAN MUTUAL, INC. | $215,000 | $870,000 | 304.7% | 0.1% |
| Carrington Mortgage Services, LLC | $1,415,000 | $820,000 | -42.0% | 0.1% |
| 21ST MORTGAGE CORPORATION | $450,000 | $810,000 | 80.0% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $1,515,000 | $805,000 | -46.9% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $430,000 | $805,000 | 87.2% | 0.1% |
| Univest Bank and Trust Co. | $800,000 | n/a | 0.1% | |
| GUARANTEED RATE, INC. | $6,110,000 | $790,000 | -87.1% | 0.1% |
| Goldman Sachs Bank USA | $755,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $920,000 | $745,000 | -19.0% | 0.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,260,000 | $740,000 | -77.3% | 0.1% |
| CORRY FEDERAL CREDIT UNION | $1,330,000 | $730,000 | -45.1% | 0.1% |
| AmeriServ Financial Bank | $1,840,000 | $680,000 | -63.0% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $85,000 | $670,000 | 688.2% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $665,000 | $665,000 | 0.0% | 0.1% |
| NEW DAY FINANCIAL, LLC | $2,130,000 | $640,000 | -70.0% | 0.1% |
| Community Bank | $32,740,000 | $625,000 | -98.1% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $370,000 | $625,000 | 68.9% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $445,000 | $625,000 | 40.4% | 0.1% |
| Citibank | $3,425,000 | $560,000 | -83.6% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $535,000 | n/a | 0.1% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $300,000 | $530,000 | 76.7% | 0.1% |
| BNC National Bank | $525,000 | n/a | 0.1% | |
| NEXERA HOLDING LLC | $520,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $1,350,000 | $515,000 | -61.9% | 0.1% |
| The Loan Store, Inc. | $485,000 | n/a | 0.1% | |
| TIDEWATER MORTGAGE SERVICES, INC. | $5,600,000 | $470,000 | -91.6% | 0.1% |
| Charles Schwab Bank, SSB | $145,000 | $465,000 | 220.7% | 0.1% |
| Clearview Federal Credit Union | $35,000 | $465,000 | 1,228.6% | 0.1% |
| Figure Lending LLC | $235,000 | $445,000 | 89.4% | 0.1% |
| Old National Bank | $445,000 | n/a | 0.1% | |
| Coastal Community Bank | $440,000 | n/a | 0.1% | |
| Bank of America | $1,555,000 | $435,000 | -72.0% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $435,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $870,000 | $430,000 | -50.6% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $410,000 | n/a | 0.1% | |
| The Croghan Colonial Bank | $405,000 | n/a | 0.1% | |
| The Muncy Bank and Trust Company | $395,000 | n/a | 0.1% | |
| MILEND, INC. | $155,000 | $385,000 | 148.4% | 0.1% |
| Premium Mortgage Corporation | $385,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $155,000 | $380,000 | 145.2% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $370,000 | n/a | 0.1% | |
| NBKC BANK | $580,000 | $365,000 | -37.1% | 0.1% |
| Colonial Savings, F.A. | $335,000 | n/a | 0.1% | |
| VELOCITY COMMERCIAL CAPITAL, LLC | $325,000 | n/a | 0.1% | |
| S&T Bank | $140,000 | $320,000 | 128.6% | 0.1% |
| Mars Bank | $315,000 | n/a | 0.1% | |
| STOCKTON MORTGAGE CORPORATION | $315,000 | n/a | 0.1% | |
| AMWEST FUNDING CORP. | $310,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $305,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $305,000 | n/a | 0.0% | |
| GUARANTY HOME MORTGAGE CORPORATION | $3,950,000 | $290,000 | -92.7% | 0.0% |
| CORNING | $285,000 | n/a | 0.0% | |
| Franklin Loan Corporation | $285,000 | n/a | 0.0% | |
| PLUS RELOCATION MORTGAGE, LLC | $285,000 | n/a | 0.0% | |
| VILLAGE CAPITAL MORTGAGE | $125,000 | $285,000 | 128.0% | 0.0% |
| Morgan Stanley Private Bank | $800,000 | $275,000 | -65.6% | 0.0% |
| Strong Home Mortgage, LLC | $185,000 | $275,000 | 48.6% | 0.0% |
| CONTOUR MORTGAGE CORPORATION | $85,000 | $270,000 | 217.6% | 0.0% |
| Farm Credit East, ACA | $125,000 | $265,000 | 112.0% | 0.0% |
| Magnolia Bank | $255,000 | $255,000 | 0.0% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $235,000 | $245,000 | 4.3% | 0.0% |
| PREMIA MORTGAGE, LLC | $245,000 | n/a | 0.0% | |
| NEWREZ LLC | $815,000 | $240,000 | -70.6% | 0.0% |
| INTERCAP LENDING INC. | $235,000 | n/a | 0.0% | |
| Marquette Bank | $235,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $165,000 | $235,000 | 42.4% | 0.0% |
| WRIGHT-PATT CREDIT UNION, INC. | $230,000 | n/a | 0.0% | |
| First Savings Bank | $300,000 | $225,000 | -25.0% | 0.0% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $115,000 | $225,000 | 95.7% | 0.0% |
| Victorian Finance, LLC | $95,000 | $215,000 | 126.3% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $805,000 | $210,000 | -73.9% | 0.0% |
| City National Bank of Florida | $205,000 | n/a | 0.0% | |
| Northpointe Bank | $205,000 | n/a | 0.0% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $205,000 | n/a | 0.0% | |
| WesBanco | $205,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $200,000 | $195,000 | -2.5% | 0.0% |
| A&D Mortgage LLC | $185,000 | n/a | 0.0% | |
| GUIDANCE RESIDENTIAL, LLC | $125,000 | $185,000 | 48.0% | 0.0% |
| INTERLINC MORTGAGE SERVICES, LLC | $185,000 | n/a | 0.0% | |
| Leader Bank | $185,000 | n/a | 0.0% | |
| ONE NEVADA CREDIT UNION | $185,000 | n/a | 0.0% | |
| CIVIC FINANCIAL SERVICES, LLC | $180,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $175,000 | n/a | 0.0% | |
| EASTMAN | $85,000 | $165,000 | 94.1% | 0.0% |
| Third Federal Savings and Loan Association of Cleveland | $250,000 | $165,000 | -34.0% | 0.0% |
| Acre Mortgage and Financial Inc | $155,000 | n/a | 0.0% | |
| CMG MORTGAGE, INC. | $85,000 | $155,000 | 82.4% | 0.0% |
| AMERICAN HERITAGE LENDING, INC. | $145,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $145,000 | n/a | 0.0% | |
| Capital Bank | $145,000 | n/a | 0.0% | |
| GSF Mortgage Corporation | $275,000 | $145,000 | -47.3% | 0.0% |
| Ally Bank | $1,640,000 | $135,000 | -91.8% | 0.0% |
| ASSEMBLIES OF GOD Credit Union | $135,000 | n/a | 0.0% | |
| FIRST COMMUNITY MORTGAGE, INC. | $135,000 | n/a | 0.0% | |
| First Federal Bank of Kansas City | $345,000 | $135,000 | -60.9% | 0.0% |
| RAPID MORTGAGE COMPANY | $135,000 | n/a | 0.0% | |
| Sail Mortgage Corp. | $135,000 | n/a | 0.0% | |
| M&T Bank | $1,465,000 | $130,000 | -91.1% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $345,000 | $125,000 | -63.8% | 0.0% |
| EMBRACE HOME LOANS, INC. | $425,000 | $125,000 | -70.6% | 0.0% |
| Fifth Third Bank | $125,000 | n/a | 0.0% | |
| First Western Trust Bank | $115,000 | n/a | 0.0% | |
| RESIDENTIAL BANCORP | $115,000 | n/a | 0.0% | |
| Bank of England | $215,000 | $105,000 | -51.2% | 0.0% |
| CITADEL FEDERAL CREDIT UNION | $105,000 | n/a | 0.0% | |
| The Ephrata National Bank | $105,000 | n/a | 0.0% | |
| TD Bank | $100,000 | n/a | 0.0% | |
| CALCON MUTUAL MORTGAGE LLC | $600,000 | $95,000 | -84.2% | 0.0% |
| Kwik Mortgage Corporation | $85,000 | $95,000 | 11.8% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $95,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $185,000 | $95,000 | -48.6% | 0.0% |
| Kish Bank | $85,000 | n/a | 0.0% | |
| The ONE | $80,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $75,000 | n/a | 0.0% | |
| NASA Federal Credit Union | $75,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $345,000 | $65,000 | -81.2% | 0.0% |
| Centier Bank | $65,000 | n/a | 0.0% | |
| Dollar Bank, Federal Savings Bank | $925,000 | $65,000 | -93.0% | 0.0% |
| United States Senate Federal Credit Union | $65,000 | n/a | 0.0% | |
| Mid-Continent Funding, Inc. | $205,000 | $55,000 | -73.2% | 0.0% |
| FREEDOM CREDIT UNION | $50,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $75,000 | $40,000 | -46.7% | 0.0% |
| COMMUNITY MORTGAGE FUNDING, LLC | $35,000 | n/a | 0.0% | |
| State Department Federal Credit Union | $35,000 | n/a | 0.0% | |
| Honor Credit Union | $15,000 | n/a | 0.0% |
ERIE's top lender by overall market share is Marquette Savings Bank, with 13.3% market share. In second place, with 8.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $54,975,000 in loans. In third place, with 7.6%, is Northwest Bank, having originated $47,040,000 in loans. In fourth place, with 5.4%, is QUICKEN LOANS, LLC, having originated $33,405,000 in loans. In fifth place, with 5.4%, is CNB Bank, having originated $33,380,000 in loans.
ERIE, PA Average Rent (2023)
Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.
| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 16401 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16403 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16407 | Erie, PA MSA | $630 | $660 | $850 | $1,050 | $1,170 |
| 16410 | Erie, PA MSA | $620 | $640 | $830 | $1,030 | $1,140 |
| 16411 | Erie, PA MSA | $810 | $840 | $1,090 | $1,350 | $1,500 |
| 16412 | Erie, PA MSA | $760 | $800 | $1,030 | $1,280 | $1,420 |
| 16413 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16415 | Erie, PA MSA | $790 | $830 | $1,070 | $1,330 | $1,470 |
| 16417 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16421 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16423 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16426 | Erie, PA MSA | $740 | $770 | $1,000 | $1,240 | $1,370 |
| 16427 | Erie, PA MSA | $850 | $880 | $1,140 | $1,410 | $1,570 |
| 16428 | Erie, PA MSA | $650 | $670 | $870 | $1,080 | $1,200 |
| 16430 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16434 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16435 | Erie, PA MSA | $640 | $660 | $860 | $1,070 | $1,180 |
| 16438 | Erie, PA MSA | $620 | $640 | $830 | $1,030 | $1,140 |
| 16441 | Erie, PA MSA | $740 | $770 | $1,000 | $1,240 | $1,370 |
| 16442 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16443 | Erie, PA MSA | $680 | $710 | $920 | $1,140 | $1,270 |
| 16444 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16501 | Erie, PA MSA | $610 | $630 | $820 | $1,020 | $1,130 |
| 16502 | Erie, PA MSA | $670 | $690 | $900 | $1,120 | $1,240 |
| 16503 | Erie, PA MSA | $650 | $670 | $870 | $1,080 | $1,200 |
| 16504 | Erie, PA MSA | $760 | $800 | $1,030 | $1,280 | $1,420 |
| 16505 | Erie, PA MSA | $720 | $750 | $970 | $1,200 | $1,330 |
| 16506 | Erie, PA MSA | $850 | $890 | $1,150 | $1,430 | $1,580 |
| 16507 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16508 | Erie, PA MSA | $670 | $690 | $900 | $1,120 | $1,240 |
| 16509 | Erie, PA MSA | $780 | $810 | $1,050 | $1,300 | $1,440 |
| 16510 | Erie, PA MSA | $770 | $800 | $1,040 | $1,290 | $1,430 |
| 16511 | Erie, PA MSA | $770 | $800 | $1,040 | $1,290 | $1,430 |
| 16512 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16514 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16515 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16541 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16544 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16546 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16550 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16563 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
| 16565 | Erie, PA MSA | $710 | $730 | $950 | $1,180 | $1,310 |
2022 Average & Median Rent Data Statistics
ERIE, PA average 1BR rent: $724, median: $730
ERIE, PA average 2BR rent: $940, median: $950
ERIE, PA average 3BR rent: $1,167, median: $1,180
ERIE, PA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,053 | $396,695,000 | $193,227 |
| Home Improvement | 732 | $46,890,000 | $64,057 |
| Other | 600 | $41,930,000 | $69,883 |
| Refi | 551 | $91,685,000 | $166,397 |
| Cash Out Refi | 350 | $43,620,000 | $124,629 |
Erie's most frequently cited loan purpose was Home Purchase, with 2,053 originations. The 2nd most popular reason was Home Improvement, with 732 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,500 | $244,620,000 | $163,080 |
| 7-8% | 989 | $159,885,000 | $161,663 |
| 5-6% | 725 | $105,475,000 | $145,483 |
| Over 8% | 641 | $53,775,000 | $83,892 |
| <2.5% | 126 | $24,480,000 | $194,286 |
| 4-5% | 113 | $13,195,000 | $116,770 |
| 3-4% | 57 | $3,565,000 | $62,544 |
| 2.5-3% | 22 | $1,970,000 | $89,545 |
During 2023, Erie's most frequently originated rate bucket was 6-7%, with 1,500 originations.
Loan Sizing (ERIE, PA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 2,004 | $106,360,000 | $53,074 |
| $100k-200k | 1,488 | $211,250,000 | $141,969 |
| $200k-400k | 658 | $173,330,000 | $263,419 |
| $400k-600k | 91 | $43,435,000 | $477,308 |
| $600k-1000k | 29 | $20,125,000 | $693,966 |
| $Over $1MM | 16 | $66,320,000 | $4,145,000 |
ERIE's loan sizing saw the bucket of loans from $100,000 or less with 2,004 originations, totaling $106,360,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,474 | $274,130,000 | $185,977 |
| 60-80% | 834 | $165,650,000 | $198,621 |
| 20-40% | 775 | $60,415,000 | $77,955 |
| Under 20% | 673 | $23,515,000 | $34,941 |
| 40-60% | 393 | $61,985,000 | $157,723 |
| Over 100% | 20 | $20,210,000 | $1,010,500 |
ERIE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,474 originations, totaling $274,130,000 in origination value.