Escanaba 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 Escanaba averaged 7.26% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

    The average rate for the prior week (2023-09-14) was 7.35% and one month ago for the week of 2023-08-17, the average rate was 7.06%.

    Escanaba's average rate one year ago was 6.19%.

    For refis of the same type during the week of 2023-09-21, the average rate was 7.79%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-21 7.19%
    Escanaba 30 Year Fixed Rate 2023-09-21 7.26%
    Escanaba 30 Year Fixed Rate Refi 2023-09-21 7.79%
    Escanaba 15 Year Fixed Rate 2023-09-21 6.74%
    Escanaba 15 Year Fixed Rate Refi 2023-09-21 6.44%
    Escanaba 30 Year FHA 2023-09-21 7.14%
    Escanaba 30 Year FHA Refi 2023-09-21 7.04%
    Escanaba 30 Year USDA 2023-09-21 7.02%
    Escanaba 30 Year USDA Refi 2023-09-21 6.92%
    Escanaba 30 Year VA 2023-09-21 6.82%
    Escanaba 30 Year VA Refi 2023-09-21 6.72%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Escanaba, MI.

    Escanaba 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 Escanaba, MI 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
    Nicolet National Bank 15 5.21% $2,762
    QUICKEN LOANS, LLC 10 5.31% $5,421
    UNITED WHOLESALE MORTGAGE, LLC 6 4.64% $4,047
    Wells Fargo Bank 6 6.13% $4,660
    FIRST CENTENNIAL MORTGAGE CORPORATION 5 5.73% $3,770
    Flagstar Bank, FSB 4 5.38% $2,559
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 4 4.91% $3,609
    LOANDEPOT.COM, LLC 3 5.63% $3,342
    U.S. Bank 2 4.56% $2,709
    MICHIGAN MUTUAL, INC. 2 6.06% $4,349
    GUARANTEED RATE AFFINITY, LLC 1 5.25% $3,059
    IncredibleBank 1 4.75% $2,588
    J. VIRGIL, INC. 1 5.38% $3,150
    LAKEVIEW LOAN SERVICING, LLC 1 4.50% $3,301
    MORTGAGE ACCESS CORP. 1 7.49% $3,381
    NBKC BANK 1 5.25% $3,265
    Range Bank 1 4.64% $1,818
    ROYAL UNITED MORTGAGE LLC 1 5.88% $5,555
    STAUNTON FINANCIAL, INC. 1 5.63% $14,711
    The Dart Bank 1 6.75% $2,923
    USAA Federal Savings Bank 1 7.13% $1,929
    VAN DYK MORTGAGE CORPORATION 1 4.50% $0
    1st State Financial, Ltd. 1 5.75% $4,204
    ZILLOW HOME LOANS, LLC 1 7.50% $3,420
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $3,224
    AMERISAVE MORTGAGE CORPORATION 1 3.88% $1,904
    Bank of England 1 3.75% $3,349
    Barrington Bank & Trust Company, N.A. 1 5.88% $3,416
    BROKER SOLUTIONS, INC. 1 6.13% $3,699
    Chicago Mortgage Solutions LLC 1 5.97% $2,753
    CoVantage Credit Union 1 4.88% $2,745
    FINANCE OF AMERICA MORTGAGE LLC 1 3.63% $3,778
    GreenStone Farm Credit Services, FLCA 1 4.75% $7,721

    Escanaba Average Closing Costs & Other Stats

    Escanaba, MI's 33 lenders originated 244 loans during 2022. The total origination value was $38,550,000, with an average loan value of $157,992.

    Escanaba's average closing costs are $3,501.

    The top Escanaba lender as defined by loan originations is Nicolet National Bank, with 15 loans originated. Their average total fees are $2,762, which is $2,659 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Escanaba lenders (with over 10 loans originated) are Nicolet National Bank ($2,762), QUICKEN LOANS, LLC ($5,421), .

    The lowest rate Escanaba lenders (with over 10 loans originated) are Nicolet National Bank (5.21%), QUICKEN LOANS, LLC (5.31%), .

    Escanaba, MI 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
    QUICKEN LOANS, LLC $9,160,000 $4,305,000 -53.0% 11.2%
    Nicolet National Bank $1,875,000 $3,995,000 113.1% 10.4%
    Mortgage Research Center, LLC $3,270,000 $3,570,000 9.2% 9.3%
    UNITED WHOLESALE MORTGAGE, LLC $4,875,000 $2,285,000 -53.1% 5.9%
    Wells Fargo Bank $5,585,000 $1,990,000 -64.4% 5.2%
    Flagstar Bank, FSB $3,695,000 $1,650,000 -55.3% 4.3%
    FREEDOM MORTGAGE CORPORATION $2,410,000 $1,115,000 -53.7% 2.9%
    FIRST CENTENNIAL MORTGAGE CORPORATION $1,020,000 n/a 2.6%
    LOANDEPOT.COM, LLC $340,000 $980,000 188.2% 2.5%
    GreenStone Farm Credit Services, FLCA $150,000 $915,000 510.0% 2.4%
    Oregon Community Bank $185,000 $835,000 351.4% 2.2%
    HomePromise Corporation $805,000 n/a 2.1%
    FINANCE OF AMERICA MORTGAGE LLC $1,030,000 $785,000 -23.8% 2.0%
    The Fountain Trust Company $785,000 n/a 2.0%
    TOP FLITE FINANCIAL, INC. $720,000 $710,000 -1.4% 1.8%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $55,000 $650,000 1,081.8% 1.7%
    NEW DAY FINANCIAL, LLC $600,000 $575,000 -4.2% 1.5%
    Barrington Bank & Trust Company, N.A. $95,000 $560,000 489.5% 1.5%
    U.S. Bank $995,000 $510,000 -48.7% 1.3%
    STAUNTON FINANCIAL, INC. $505,000 n/a 1.3%
    LAKEVIEW LOAN SERVICING, LLC $885,000 $465,000 -47.5% 1.2%
    USAA Federal Savings Bank $1,560,000 $465,000 -70.2% 1.2%
    MICHIGAN MUTUAL, INC. $195,000 $455,000 133.3% 1.2%
    Bank of America $420,000 n/a 1.1%
    AMERISAVE MORTGAGE CORPORATION $230,000 $405,000 76.1% 1.1%
    Greenleaf Wayside Bank $400,000 n/a 1.0%
    CALIBER HOME LOANS, INC. $220,000 $360,000 63.6% 0.9%
    MOVEMENT MORTGAGE, LLC $315,000 n/a 0.8%
    Mr. Cooper ( Nationstar Mortgage ) $440,000 $300,000 -31.8% 0.8%
    Equity Prime Mortgage LLC $275,000 n/a 0.7%
    MORTGAGE ACCESS CORP. $275,000 n/a 0.7%
    The Dart Bank $265,000 n/a 0.7%
    CROSSCOUNTRY MORTGAGE, LLC $380,000 $255,000 -32.9% 0.7%
    NAVY FEDERAL CREDIT UNION $160,000 $250,000 56.3% 0.6%
    ZILLOW HOME LOANS, LLC $250,000 n/a 0.6%
    AMERICAN PACIFIC MORTGAGE CORPORATION $235,000 n/a 0.6%
    Honor Credit Union $165,000 $225,000 36.4% 0.6%
    1st State Financial, Ltd. $205,000 n/a 0.5%
    IncredibleBank $105,000 $200,000 90.5% 0.5%
    Independent Bank $195,000 n/a 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $180,000 $185,000 2.8% 0.5%
    PENTAGON FEDERAL CREDIT UNION $115,000 $185,000 60.9% 0.5%
    PHH Mortgage Corporation $185,000 n/a 0.5%
    ROYAL UNITED MORTGAGE LLC $180,000 $180,000 0.0% 0.5%
    Nations Lending Corporation $185,000 $175,000 -5.4% 0.5%
    CREDIT UNION ONE $155,000 n/a 0.4%
    NBKC BANK $155,000 n/a 0.4%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $540,000 $145,000 -73.1% 0.4%
    VAN DYK MORTGAGE CORPORATION $145,000 n/a 0.4%
    Colonial Savings, F.A. $115,000 $135,000 17.4% 0.4%
    Chicago Mortgage Solutions LLC $115,000 n/a 0.3%
    CITIZENS EQUITY FIRST $115,000 n/a 0.3%
    NEWREZ LLC $115,000 $115,000 0.0% 0.3%
    BROKER SOLUTIONS, INC. $420,000 $105,000 -75.0% 0.3%
    GUARANTEED RATE AFFINITY, LLC $105,000 n/a 0.3%
    GUARANTEED RATE, INC. $195,000 $105,000 -46.2% 0.3%
    The Huntington National Bank $1,150,000 $100,000 -91.3% 0.3%
    Associated Bank $95,000 n/a 0.2%
    Bank of England $95,000 n/a 0.2%
    Citizens Bank $145,000 $95,000 -34.5% 0.2%
    MID AMERICA MORTGAGE, INC. $145,000 $95,000 -34.5% 0.2%
    PENNYMAC LOAN SERVICES, LLC $150,000 $95,000 -36.7% 0.2%
    AMERICAN ADVISORS GROUP $85,000 $75,000 -11.8% 0.2%
    CoVantage Credit Union $415,000 $75,000 -81.9% 0.2%
    Frankenmuth Credit Union $75,000 n/a 0.2%
    HOME POINT FINANCIAL CORPORATION $75,000 n/a 0.2%
    MIDWEST LOAN SOLUTIONS, INC. $75,000 n/a 0.2%
    NETWORK CAPITAL FUNDING CORPORATION $75,000 n/a 0.2%
    Carrington Mortgage Services, LLC $65,000 $55,000 -15.4% 0.1%
    Range Bank $550,000 $55,000 -90.0% 0.1%
    J. VIRGIL, INC. $45,000 n/a 0.1%
    PNC Bank $250,000 $35,000 -86.0% 0.1%
    UNITED $35,000 n/a 0.1%
    Figure Lending LLC $25,000 n/a 0.1%

    Escanaba's top lender by overall market share is QUICKEN LOANS, LLC, with 11.2% market share. In second place, with 10.4%, is Nicolet National Bank, having originated $3,995,000 in loans. In third place, with 9.3%, is Mortgage Research Center, LLC, having originated $3,570,000 in loans. In fourth place, with 5.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $2,285,000 in loans. In fifth place, with 5.2%, is Wells Fargo Bank, having originated $1,990,000 in loans.

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

    Realtor.com - Escanaba (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 $122,750 (7.5%) $164,380 (2.9%) 0.00 182
    2018-02-01 $130,950 (12.9%) $175,533 (8.2%) 0.00 158
    2018-03-01 $137,950 (15.9%) $166,213 (-1.0%) 0.00 153
    2018-04-01 $142,225 (19.5%) $172,162 (3.4%) 0.00 161
    2018-05-01 $139,950 (17.6%) $171,193 (0.7%) 0.00 197
    2018-06-01 $139,900 (12.6%) $173,283 (-0.6%) 0.00 250
    2018-07-01 $129,950 (0.7%) $164,729 (-6.3%) 0.00 261
    2018-08-01 $129,950 (4.0%) $161,894 (-6.7%) 0.00 272
    2018-09-01 $123,900 (-0.8%) $162,043 (-7.5%) 0.00 272
    2018-10-01 $119,375 (-0.4%) $157,028 (-8.7%) 0.00 264
    2018-11-01 $117,375 (-6.0%) $156,940 (-6.5%) 0.00 243
    2018-12-01 $117,750 (-8.4%) $152,814 (-8.9%) 0.00 214
    2019-01-01 $109,625 (-10.7%) $149,979 (-8.8%) 0.00 192
    2019-02-01 $117,500 (-10.3%) $158,408 (-9.8%) 0.00 179
    2019-03-01 $130,636 (-5.3%) $170,896 (2.8%) 0.00 173
    2019-04-01 $141,850 (-0.3%) $184,909 (7.4%) 0.00 169
    2019-05-01 $145,900 (4.3%) $182,737 (6.7%) 0.00 179
    2019-06-01 $149,950 (7.2%) $183,844 (6.1%) 0.00 194
    2019-07-01 $143,700 (10.6%) $181,008 (9.9%) 0.00 211
    2019-08-01 $136,636 (5.2%) $177,823 (9.8%) 0.00 225
    2019-09-01 $132,341 (6.8%) $173,121 (6.8%) 0.00 232
    2019-10-01 $129,225 (8.3%) $169,534 (8.0%) 0.00 240
    2019-11-01 $127,000 (8.2%) $169,882 (8.3%) 0.00 230
    2019-12-01 $125,000 (6.2%) $170,871 (11.8%) 0.00 207
    2020-01-01 $120,000 (9.5%) $170,237 (13.5%) 0.00 178
    2020-02-01 $120,000 (2.1%) $168,002 (6.1%) 0.00 169
    2020-03-01 $124,450 (-4.7%) $176,362 (3.2%) 0.00 167
    2020-04-01 $132,650 (-6.5%) $175,435 (-5.1%) 0.00 156
    2020-05-01 $129,900 (-11.0%) $182,263 (-0.3%) 0.00 154
    2020-06-01 $140,475 (-6.3%) $197,467 (7.4%) 0.00 143
    2020-07-01 $139,900 (-2.6%) $202,528 (11.9%) 0.00 137
    2020-08-01 $124,900 (-8.6%) $195,700 (10.1%) 0.00 141
    2020-09-01 $124,975 (-5.6%) $199,989 (15.5%) 0.00 131
    2020-10-01 $137,750 (6.6%) $201,473 (18.8%) 0.00 110
    2020-11-01 $131,850 (3.8%) $195,979 (15.4%) 0.00 103
    2020-12-01 $120,700 (-3.4%) $197,601 (15.6%) 0.00 98
    2021-01-01 $119,900 (-0.1%) $191,207 (12.3%) 0.00 78
    2021-02-01 $109,000 (-9.2%) $204,540 (21.8%) 0.00 60
    2021-03-01 $163,000 (31.0%) $251,334 (42.5%) 0.00 46
    2021-04-01 $184,500 (39.1%) $276,255 (57.5%) 0.00 48
    2021-05-01 $160,000 (23.2%) $268,073 (47.1%) 0.00 51
    2021-06-01 $198,675 (41.4%) $269,693 (36.6%) 0.00 66
    2021-07-01 $184,900 (32.2%) $261,026 (28.9%) 0.00 74
    2021-08-01 $166,125 (33.0%) $247,738 (26.6%) 0.00 82
    2021-09-01 $168,700 (35.0%) $255,675 (27.8%) 0.00 84
    2021-10-01 $162,500 (18.0%) $275,004 (36.5%) 0.00 76
    2021-11-01 $163,650 (24.1%) $259,437 (32.4%) 0.00 69
    2021-12-01 $164,925 (36.6%) $268,138 (35.7%) 0.00 59
    2022-01-01 $174,900 (45.9%) $335,938 (75.7%) 0.00 39
    2022-02-01 $162,500 (49.1%) $340,508 (66.5%) 0.00 32
    2022-03-01 $164,975 (1.2%) $346,768 (38.0%) 0.00 30
    2022-04-01 $199,900 (8.4%) $376,386 (36.3%) 0.00 37
    2022-05-01 $264,900 (65.6%) $352,476 (31.5%) 0.00 47
    2022-06-01 $217,450 (9.5%) $328,392 (21.8%) 0.00 50
    2022-07-01 $239,900 (29.8%) $344,338 (31.9%) 0.00 59
    2022-08-01 $252,475 (52.0%) $335,512 (35.4%) 0.00 74
    2022-09-01 $234,950 (39.3%) $326,583 (27.7%) 0.00 74
    2022-10-01 $199,500 (22.8%) $285,008 (3.6%) 0.00 68
    2022-11-01 $179,000 (9.4%) $273,956 (5.6%) 0.00 62
    2022-12-01 $179,000 (8.5%) $290,293 (8.3%) 0.00 58
    2023-01-01 $169,450 (-3.1%) $284,540 (-15.3%) 0.00 49
    2023-02-01 $219,250 (34.9%) $344,180 (1.1%) 0.00 37
    2023-03-01 $400,225 (142.6%) $425,539 (22.7%) 0.00 32
    2023-04-01 $415,000 (107.6%) $428,408 (13.8%) 0.00 26
    2023-05-01 $323,500 (22.1%) $378,249 (7.3%) 0.00 35
    2023-06-01 $292,500 (34.5%) $382,736 (16.6%) 0.00 43
    2023-07-01 $295,000 (23.0%) $410,013 (19.1%) 0.00 46
    2023-08-01 $314,750 (24.7%) $416,632 (24.2%) 0.00 48
    Escanaba's median listing price for 2023-08-01 was $314,750, a difference of $62,275 (24.7%) versus the prior year and $19,750 versus the prior month.

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

    Escanaba's average listing price for 2023-08-01 was $416,632, a difference of $81,120 (24.2%) versus the prior year and $6,619 versus the prior month.

    For the 2023-08-01 period, Escanaba had 48 MLS listings, a difference of 2 listings (4%) versus the prior month and -26 listings (-35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Escanaba (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,442 sqft
    2018-02-01 0 days 1,516 sqft
    2018-03-01 0 days 1,504 sqft
    2018-04-01 0 days 1,493 sqft
    2018-05-01 0 days 1,465 sqft
    2018-06-01 0 days 1,445 sqft
    2018-07-01 0 days 1,484 sqft
    2018-08-01 0 days 1,484 sqft
    2018-09-01 0 days 1,484 sqft
    2018-10-01 0 days 1,441 sqft
    2018-11-01 0 days 1,424 sqft
    2018-12-01 0 days 1,472 sqft
    2019-01-01 0 days 1,412 sqft
    2019-02-01 0 days 1,446 sqft
    2019-03-01 0 days 1,477 sqft
    2019-04-01 0 days 1,510 sqft
    2019-05-01 0 days 1,528 sqft
    2019-06-01 0 days 1,564 sqft
    2019-07-01 0 days 1,529 sqft
    2019-08-01 0 days 1,525 sqft
    2019-09-01 0 days 1,525 sqft
    2019-10-01 0 days 1,523 sqft
    2019-11-01 0 days 1,509 sqft
    2019-12-01 0 days 1,543 sqft
    2020-01-01 0 days 1,528 sqft
    2020-02-01 0 days 1,493 sqft
    2020-03-01 0 days 1,515 sqft
    2020-04-01 0 days 1,508 sqft
    2020-05-01 0 days 1,505 sqft
    2020-06-01 0 days 1,508 sqft
    2020-07-01 0 days 1,512 sqft
    2020-08-01 0 days 1,497 sqft
    2020-09-01 0 days 1,522 sqft
    2020-10-01 0 days 1,522 sqft
    2020-11-01 0 days 1,489 sqft
    2020-12-01 0 days 1,491 sqft
    2021-01-01 0 days 1,476 sqft
    2021-02-01 0 days 1,555 sqft
    2021-03-01 0 days 1,536 sqft
    2021-04-01 0 days 1,519 sqft
    2021-05-01 0 days 1,468 sqft
    2021-06-01 0 days 1,453 sqft
    2021-07-01 0 days 1,488 sqft
    2021-08-01 0 days 1,650 sqft
    2021-09-01 0 days 1,671 sqft
    2021-10-01 0 days 1,648 sqft
    2021-11-01 0 days 1,480 sqft
    2021-12-01 0 days 1,665 sqft
    2022-01-01 0 days 1,500 sqft
    2022-02-01 0 days 1,457 sqft
    2022-03-01 0 days 1,586 sqft
    2022-04-01 0 days 1,875 sqft
    2022-05-01 0 days 1,833 sqft
    2022-06-01 0 days 1,936 sqft
    2022-07-01 0 days 1,870 sqft
    2022-08-01 0 days 1,867 sqft
    2022-09-01 0 days 1,800 sqft
    2022-10-01 0 days 1,816 sqft
    2022-11-01 0 days 1,727 sqft
    2022-12-01 0 days 1,672 sqft
    2023-01-01 0 days 1,542 sqft
    2023-02-01 0 days 1,717 sqft
    2023-03-01 0 days 2,019 sqft
    2023-04-01 0 days 1,829 sqft
    2023-05-01 0 days 1,884 sqft
    2023-06-01 0 days 1,855 sqft
    2023-07-01 0 days 1,847 sqft
    2023-08-01 0 days 1,890 sqft
    Escanaba's median listing age (time on market) for 2023-08-01 was 0 days.

    Escanaba's median square footage for active listings during the 2023-08-01 period was 1,890 sqft. One year prior, the average listing was 1,867 sqft.

    Escanaba, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 141 $25,185,000 $178,617
    Cash Out Refi 53 $8,315,000 $156,887
    Refi 23 $3,105,000 $135,000
    Home Improvement 15 $905,000 $60,333
    Other 12 $1,040,000 $86,667

    Escanaba's most frequently cited loan purpose was Home Purchase, with 141 originations. The 2nd most popular reason was Cash Out Refi, with 53 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 79 $13,795,000 $174,620
    4-5% 64 $9,520,000 $148,750
    3-4% 42 $6,660,000 $158,571
    6-7% 27 $3,535,000 $130,926
    7-8% 12 $1,900,000 $158,333
    2.5-3% 11 $1,825,000 $165,909
    <2.5% 4 $680,000 $170,000
    Over 8% 3 $235,000 $78,333

    During 2022, Escanaba's most frequently originated rate bucket was 5-6%, with 79 originations.

    Loan Sizing (Escanaba, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 113 $16,055,000 $142,080
    $100,000 or less 71 $4,655,000 $65,563
    $200k-400k 55 $14,425,000 $262,273
    $600k-1000k 3 $2,425,000 $808,333
    $400k-600k 2 $990,000 $495,000

    Escanaba's loan sizing saw the bucket of loans from $100k-200k with 113 originations, totaling $16,055,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 143 $26,075,000 $182,343
    60-80% 51 $7,485,000 $146,765
    40-60% 17 $2,035,000 $119,706
    20-40% 16 $1,190,000 $74,375
    Under 20% 9 $245,000 $27,222
    Over 100% 6 $1,120,000 $186,667

    Escanaba's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 143 originations, totaling $26,075,000 in origination value.