Escanaba Mortgage Rates

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

30 Year Fixed Rate mortgages in Escanaba averaged 6.24% 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 6.11% and one month ago for the week of 2022-05-19, the average rate was 5.48%.

Escanaba's average rate one year ago was 3.36%.

For refis of the same type during the week of 2022-06-23, the average rate was 5.85%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Escanaba 30 Year Fixed Rate 2022-06-23 6.24%
Escanaba 30 Year Fixed Rate Refi 2022-06-23 5.85%
Escanaba 15 Year Fixed Rate 2022-06-23 5.53%
Escanaba 15 Year Fixed Rate Refi 2022-06-23 4.89%
Escanaba 30 Year FHA 2022-06-23 0.43%
Escanaba 30 Year FHA Refi 2022-06-23 -0.16%
Escanaba 30 Year USDA 2022-06-23 0.35%
Escanaba 30 Year USDA Refi 2022-06-23 2.5%
Escanaba 30 Year VA 2022-06-23 0.59%
Escanaba 30 Year VA Refi 2022-06-23 -0.17%
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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
mBank 17 3.23% $1,966
Wells Fargo Bank 15 3.25% $2,719
QUICKEN LOANS, LLC 14 3.28% $4,163
Nicolet National Bank 9 3.46% $2,620
UNITED WHOLESALE MORTGAGE, LLC 7 3.10% $3,167
Flagstar Bank, FSB 6 3.08% $2,367
LAKE MICHIGAN CREDIT UNION 5 3.15% $2,270
U.S. Bank 5 2.95% $2,253
CoVantage Credit Union 3 3.16% $3,312
FINANCE OF AMERICA MORTGAGE LLC 3 3.33% $4,056
ROYAL UNITED MORTGAGE LLC 2 3.50% $5,473
GreenStone Farm Credit Services, FLCA 2 4.00% $2,509
The Huntington National Bank 2 3.13% $3,331
HOMESIDE FINANCIAL, LLC 2 3.43% $2,603
UNION HOME MORTGAGE CORP. 2 3.31% $3,814
Range Bank 2 2.81% $3,015
JPMorgan Chase Bank 2 2.99% $2,549
Fifth Third Bank 2 3.06% $2,837
North American Savings Bank, F.S.B. 2 3.13% $766
PENTAGON FEDERAL CREDIT UNION 1 2.63% $1,063
Platinum Home Mortgage Corporation 1 3.25% $3,004
PNC Bank 1 3.00% $1,755
ROSS MORTGAGE CORPORATION 1 3.25% $3,538
SUCCESS MORTGAGE PARTNERS, INC. 1 3.63% $3,982
THRIVENT Federal Credit Union 1 2.75% $2,174
Waterstone Mortgage Corporation 1 3.38% $3,242
Mortgage Research Center, LLC 1 3.25% $3,645
AMERIFIRST FINANCIAL CORPORATION 1 3.63% $2,719
AMERISAVE MORTGAGE CORPORATION 1 2.88% $7,243
BETTER MORTGAGE CORPORATION 1 2.63% $5,322
BROKER SOLUTIONS, INC. 1 3.49% $3,048
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $4,017
CHERRY CREEK MORTGAGE, LLC 1 3.38% $1,572
CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $2,869
DFCU FINANCIAL 1 3.63% $3,938
Gateway First Bank 1 3.25% $2,580
Honor Credit Union 1 3.75% $2,538
InterContinental Capital Group, Inc 1 2.75% $3,271
MORTGAGE CENTER L.C 1 3.38% $2,011
ACADEMY MORTGAGE CORPORATION 1 3.63% $7,414
Mr. Cooper ( Nationstar Mortgage ) 1 3.63% $3,525
Nations Lending Corporation 1 3.38% $6,878
NAVY FEDERAL CREDIT UNION 1 3.75% $1,818
Neighborhood Loans, Inc. 1 3.38% $3,533
Oregon Community Bank 1 3.00% $2,519

Escanaba, MI's 45 lenders originated 403 loans during 2021. The total origination value was $59,905,000, with an average loan value of $148,648.

The top Escanaba lender as defined by loan originations is mBank, with 17 loans originated. Their average total fees are $1,966, which is $752 lower than the next largest lender, Wells Fargo Bank.

The lowest fee Escanaba lenders (with over 10 loans originated) are mBank ($1,966), Wells Fargo Bank ($2,719), QUICKEN LOANS, LLC ($4,163), .

The lowest rate Escanaba lenders (with over 10 loans originated) are mBank (3.23%), Wells Fargo Bank (3.25%), QUICKEN LOANS, LLC (3.28%), .

Escanaba, MI 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
QUICKEN LOANS, LLC $8,150,000 $9,160,000 12.4% 15.3%
Wells Fargo Bank $3,860,000 $5,585,000 44.7% 9.3%
UNITED WHOLESALE MORTGAGE, LLC $780,000 $4,875,000 525.0% 8.1%
mBank $11,795,000 $3,980,000 -66.3% 6.6%
Flagstar Bank, FSB $2,320,000 $3,695,000 59.3% 6.2%
Mortgage Research Center, LLC $2,230,000 $3,270,000 46.6% 5.5%
FREEDOM MORTGAGE CORPORATION $1,710,000 $2,410,000 40.9% 4.0%
Nicolet National Bank $1,875,000 n/a 3.1%
USAA Federal Savings Bank $2,105,000 $1,560,000 -25.9% 2.6%
The Huntington National Bank $680,000 $1,150,000 69.1% 1.9%
LAKE MICHIGAN CREDIT UNION $1,060,000 n/a 1.8%
FINANCE OF AMERICA MORTGAGE LLC $2,835,000 $1,030,000 -63.7% 1.7%
U.S. Bank $220,000 $995,000 352.3% 1.7%
LAKEVIEW LOAN SERVICING, LLC $245,000 $885,000 261.2% 1.5%
TOP FLITE FINANCIAL, INC. $880,000 $720,000 -18.2% 1.2%
AMERICAN FINANCING CORPORATION $45,000 $615,000 1,266.7% 1.0%
NEW DAY FINANCIAL, LLC $620,000 $600,000 -3.2% 1.0%
Range Bank $940,000 $550,000 -41.5% 0.9%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $335,000 $540,000 61.2% 0.9%
JPMorgan Chase Bank $230,000 $505,000 119.6% 0.8%
Mr. Cooper ( Nationstar Mortgage ) $590,000 $440,000 -25.4% 0.7%
BROKER SOLUTIONS, INC. $420,000 n/a 0.7%
CoVantage Credit Union $450,000 $415,000 -7.8% 0.7%
BETTER MORTGAGE CORPORATION $390,000 n/a 0.7%
CROSSCOUNTRY MORTGAGE, LLC $380,000 n/a 0.6%
FINANCIAL PLUS CREDIT UNION $375,000 n/a 0.6%
LOANDEPOT.COM, LLC $470,000 $340,000 -27.7% 0.6%
North American Savings Bank, F.S.B. $340,000 n/a 0.6%
Neighborhood Loans, Inc. $325,000 n/a 0.5%
VILLAGE CAPITAL & INVESTMENT LLC $310,000 $320,000 3.2% 0.5%
The Union Bank Company $315,000 n/a 0.5%
ROSS MORTGAGE CORPORATION $305,000 n/a 0.5%
Fifth Third Bank $295,000 n/a 0.5%
Bank First, N.A. $275,000 n/a 0.5%
Platinum Home Mortgage Corporation $85,000 $275,000 223.5% 0.5%
UNION HOME MORTGAGE CORP. $275,000 n/a 0.5%
Low VA Rates, LLC $270,000 n/a 0.5%
GUILD MORTGAGE COMPANY $275,000 $265,000 -3.6% 0.4%
INLANTA MORTGAGE, INC. $265,000 n/a 0.4%
RUOFF MORTGAGE COMPANY, INC. $255,000 n/a 0.4%
HOMESIDE FINANCIAL, LLC $250,000 n/a 0.4%
Mercantile Bank of Michigan $145,000 $250,000 72.4% 0.4%
PNC Bank $205,000 $250,000 22.0% 0.4%
ACADEMY MORTGAGE CORPORATION $245,000 n/a 0.4%
AMERISAVE MORTGAGE CORPORATION $400,000 $230,000 -42.5% 0.4%
CHERRY CREEK MORTGAGE, LLC $325,000 $225,000 -30.8% 0.4%
InterContinental Capital Group, Inc $225,000 n/a 0.4%
The Federal Savings Bank $225,000 $225,000 0.0% 0.4%
CALIBER HOME LOANS, INC. $205,000 $220,000 7.3% 0.4%
MICHIGAN FIRST CREDIT UNION $305,000 $215,000 -29.5% 0.4%
Servion, Inc. $305,000 $210,000 -31.1% 0.4%
CLEARPATH LENDING $175,000 $205,000 17.1% 0.3%
MORTGAGE CENTER L.C $135,000 $200,000 48.1% 0.3%
DFCU FINANCIAL $135,000 $195,000 44.4% 0.3%
GUARANTEED RATE, INC. $310,000 $195,000 -37.1% 0.3%
MICHIGAN MUTUAL, INC. $195,000 n/a 0.3%
PARKSIDE LENDING, LLC $445,000 $195,000 -56.2% 0.3%
Nations Lending Corporation $185,000 n/a 0.3%
Oregon Community Bank $185,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $95,000 $180,000 89.5% 0.3%
ROYAL UNITED MORTGAGE LLC $260,000 $180,000 -30.8% 0.3%
EMBRACE HOME LOANS, INC. $175,000 $175,000 0.0% 0.3%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $300,000 $175,000 -41.7% 0.3%
Honor Credit Union $45,000 $165,000 266.7% 0.3%
NAVY FEDERAL CREDIT UNION $200,000 $160,000 -20.0% 0.3%
GreenStone Farm Credit Services, FLCA $910,000 $150,000 -83.5% 0.3%
PENNYMAC LOAN SERVICES, LLC $330,000 $150,000 -54.5% 0.3%
Citizens Bank $145,000 n/a 0.2%
HERITAGE CREDIT UNION $145,000 n/a 0.2%
MID AMERICA MORTGAGE, INC. $505,000 $145,000 -71.3% 0.2%
Collins State Bank $135,000 n/a 0.2%
Level One Bank $135,000 n/a 0.2%
Waterstone Mortgage Corporation $65,000 $135,000 107.7% 0.2%
Colonial Savings, F.A. $460,000 $115,000 -75.0% 0.2%
NEWREZ LLC $65,000 $115,000 76.9% 0.2%
PENTAGON FEDERAL CREDIT UNION $115,000 n/a 0.2%
ELGA CREDIT UNION $110,000 n/a 0.2%
PCM $110,000 n/a 0.2%
AMERIFIRST FINANCIAL CORPORATION $490,000 $105,000 -78.6% 0.2%
CHURCHILL MORTGAGE CORPORATION $255,000 $105,000 -58.8% 0.2%
DUPACO COMMUNITY $105,000 n/a 0.2%
IncredibleBank $1,145,000 $105,000 -90.8% 0.2%
PRIME FINANCIAL CREDIT UNION $105,000 n/a 0.2%
Barrington Bank & Trust Company, N.A. $250,000 $95,000 -62.0% 0.2%
Bell Bank $95,000 n/a 0.2%
ChoiceOne Bank $225,000 $95,000 -57.8% 0.2%
First National Community Bank $95,000 n/a 0.2%
AMERICAN ADVISORS GROUP $120,000 $85,000 -29.2% 0.1%
Chickasaw Community Bank $85,000 n/a 0.1%
Gateway First Bank $75,000 n/a 0.1%
GERBER FEDERAL CREDIT UNION $75,000 n/a 0.1%
Carrington Mortgage Services, LLC $65,000 n/a 0.1%
THRIVENT Federal Credit Union $65,000 n/a 0.1%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $55,000 n/a 0.1%
SUCCESS MORTGAGE PARTNERS, INC. $315,000 $55,000 -82.5% 0.1%

Escanaba's top lender by overall market share is QUICKEN LOANS, LLC, with 15.3% market share. In second place, with 9.3%, is Wells Fargo Bank, having originated $5,585,000 in loans. In third place, with 8.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $4,875,000 in loans. In third place, with 6.6%, is mBank, having originated $3,980,000 in loans. In third place, with 6.2%, is Flagstar Bank, FSB, having originated $3,695,000 in loans.


Escanaba, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 183 $28,935,000 $158,115
Refi 149 $21,235,000 $142,517
Cash Out Refi 60 $8,990,000 $149,833
Home Improvement 6 $310,000 $51,667
Other 5 $435,000 $87,000

Escanaba's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Refi, with 149 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 158 $24,500,000 $155,063
3-4% 131 $18,075,000 $137,977
<2.5% 90 $14,770,000 $164,111
4-5% 18 $2,040,000 $113,333
6-7% 2 $110,000 $55,000
5-6% 1 $105,000 $105,000

During 2021, Escanaba's most frequently originated rate bucket was 2.5-3%, with 158 originations.

Loan Sizing (Escanaba, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 184 $25,540,000 $138,804
$100,000 or less 128 $9,630,000 $75,234
$200k-400k 84 $21,400,000 $254,762
$400k-600k 7 $3,335,000 $476,429

Escanaba's loan sizing saw the bucket of loans from $100k-200k with 184 originations, totaling $25,540,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 197 $30,965,000 $157,183
60-80% 114 $17,570,000 $154,123
40-60% 45 $5,305,000 $117,889
20-40% 16 $1,200,000 $75,000
Over 100% 4 $870,000 $217,500
Under 20% 4 $160,000 $40,000

Escanaba's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 197 originations, totaling $30,965,000 in origination value.


Market Conditions (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 $126,500 (12.4%) $162,825 (8.8%) 0.00 158
2018-02-01 $133,400 (16.6%) $174,916 (15.4%) 0.00 136
2018-03-01 $140,000 (20.7%) $166,298 (5.5%) 0.00 134
2018-04-01 $143,200 (21.4%) $171,659 (7.5%) 0.00 139
2018-05-01 $139,950 (17.6%) $169,068 (-0.8%) 0.00 177
2018-06-01 $139,900 (14.3%) $169,352 (-1.4%) 0.00 231
2018-07-01 $131,750 (2.1%) $163,854 (-5.8%) 0.00 245
2018-08-01 $132,200 (5.8%) $163,470 (-4.6%) 0.00 262
2018-09-01 $129,000 (3.3%) $160,755 (-6.6%) 0.00 260
2018-10-01 $118,950 (-0.9%) $155,041 (-8.7%) 0.00 252
2018-11-01 $117,000 (-6.3%) $155,829 (-5.6%) 0.00 228
2018-12-01 $117,000 (-9.3%) $151,142 (-8.6%) 0.00 202
2019-01-01 $109,000 (-13.8%) $147,530 (-9.4%) 0.00 178
2019-02-01 $114,900 (-13.9%) $155,110 (-11.3%) 0.00 165
2019-03-01 $128,143 (-8.5%) $167,500 (0.7%) 0.00 164
2019-04-01 $145,250 (1.4%) $181,718 (5.9%) 0.00 163
2019-05-01 $148,700 (6.3%) $181,128 (7.1%) 0.00 164
2019-06-01 $159,900 (14.3%) $187,654 (10.8%) 0.00 189
2019-07-01 $145,000 (10.1%) $182,720 (11.5%) 0.00 204
2019-08-01 $137,386 (3.9%) $178,438 (9.2%) 0.00 215
2019-09-01 $131,948 (2.3%) $171,529 (6.7%) 0.00 231
2019-10-01 $129,000 (8.5%) $170,900 (10.2%) 0.00 234
2019-11-01 $125,000 (6.8%) $169,497 (8.8%) 0.00 226
2019-12-01 $125,000 (6.8%) $168,812 (11.7%) 0.00 205
2020-01-01 $124,950 (14.6%) $171,697 (16.4%) 0.00 183
2020-02-01 $119,900 (4.4%) $168,669 (8.7%) 0.00 180
2020-03-01 $119,950 (-6.4%) $171,991 (2.7%) 0.00 172
2020-04-01 $129,450 (-10.9%) $171,967 (-5.4%) 0.00 155
2020-05-01 $124,900 (-16.0%) $179,526 (-0.9%) 0.00 155
2020-06-01 $146,250 (-8.5%) $197,317 (5.2%) 0.00 145
2020-07-01 $137,450 (-5.2%) $195,898 (7.2%) 0.00 137
2020-08-01 $124,900 (-9.1%) $191,405 (7.3%) 0.00 138
2020-09-01 $135,000 (2.3%) $197,874 (15.4%) 0.00 125
2020-10-01 $143,500 (11.2%) $202,557 (18.5%) 0.00 105
2020-11-01 $133,750 (7.0%) $196,351 (15.8%) 0.00 95
2020-12-01 $127,200 (1.8%) $199,420 (18.1%) 0.00 93
2021-01-01 $119,900 (-4.0%) $192,140 (11.9%) 0.00 70
2021-02-01 $115,000 (-4.1%) $201,156 (19.3%) 0.00 54
2021-03-01 $175,000 (45.9%) $251,691 (46.3%) 0.00 41
2021-04-01 $183,900 (42.1%) $260,625 (51.6%) 0.00 43
2021-05-01 $159,900 (28.0%) $256,026 (42.6%) 0.00 52
2021-06-01 $199,350 (36.3%) $278,214 (41.0%) 0.00 58
2021-07-01 $199,450 (45.1%) $272,912 (39.3%) 0.00 69
2021-08-01 $176,250 (41.1%) $261,465 (36.6%) 0.00 78
2021-09-01 $172,500 (27.8%) $273,142 (38.0%) 0.00 81
2021-10-01 $165,000 (15.0%) $285,526 (41.0%) 0.00 75
2021-11-01 $159,900 (19.6%) $264,948 (34.9%) 0.00 68
2021-12-01 $165,000 (29.7%) $281,354 (41.1%) 0.00 56
2022-01-01 $179,500 (49.7%) $340,176 (77.1%) 0.00 37
2022-02-01 $189,900 (65.1%) $335,550 (66.8%) 0.00 35
2022-03-01 $206,250 (17.9%) $358,212 (42.3%) 0.00 31
2022-04-01 $253,900 (38.1%) $389,418 (49.4%) 0.00 38
2022-05-01 $272,400 (70.4%) $370,513 (44.7%) 0.00 45
Escanaba's median listing price for 2022-05-01 was $272,400, a difference of $112,500 (70.4%) versus the prior year and $18,500 versus the prior month.

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

Escanaba's average listing price for 2022-05-01 was $370,513, a difference of $114,487 (44.7%) versus the prior year and $-18,905 versus the prior month.

For the 2022-05-01 period, Escanaba had 45 MLS listings, a difference of 7 listings (18%) versus the prior month and -7 listings (-13%) 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 1,501 sqft
2018-02-01 0 days 1,546 sqft
2018-03-01 0 days 1,524 sqft
2018-04-01 0 days 1,537 sqft
2018-05-01 0 days 1,473 sqft
2018-06-01 0 days 1,484 sqft
2018-07-01 0 days 1,500 sqft
2018-08-01 0 days 1,488 sqft
2018-09-01 0 days 1,485 sqft
2018-10-01 0 days 1,445 sqft
2018-11-01 0 days 1,462 sqft
2018-12-01 0 days 1,480 sqft
2019-01-01 0 days 1,421 sqft
2019-02-01 0 days 1,450 sqft
2019-03-01 0 days 1,477 sqft
2019-04-01 0 days 1,512 sqft
2019-05-01 0 days 1,553 sqft
2019-06-01 0 days 1,583 sqft
2019-07-01 0 days 1,567 sqft
2019-08-01 0 days 1,559 sqft
2019-09-01 0 days 1,524 sqft
2019-10-01 0 days 1,523 sqft
2019-11-01 0 days 1,493 sqft
2019-12-01 0 days 1,493 sqft
2020-01-01 0 days 1,491 sqft
2020-02-01 0 days 1,472 sqft
2020-03-01 0 days 1,483 sqft
2020-04-01 0 days 1,503 sqft
2020-05-01 0 days 1,500 sqft
2020-06-01 0 days 1,505 sqft
2020-07-01 0 days 1,503 sqft
2020-08-01 0 days 1,505 sqft
2020-09-01 0 days 1,540 sqft
2020-10-01 0 days 1,632 sqft
2020-11-01 0 days 1,540 sqft
2020-12-01 0 days 1,638 sqft
2021-01-01 0 days 1,540 sqft
2021-02-01 0 days 1,602 sqft
2021-03-01 0 days 1,616 sqft
2021-04-01 0 days 1,541 sqft
2021-05-01 0 days 1,450 sqft
2021-06-01 0 days 1,479 sqft
2021-07-01 0 days 1,702 sqft
2021-08-01 0 days 1,784 sqft
2021-09-01 0 days 1,765 sqft
2021-10-01 0 days 1,680 sqft
2021-11-01 0 days 1,584 sqft
2021-12-01 0 days 1,690 sqft
2022-01-01 0 days 1,680 sqft
2022-02-01 0 days 1,416 sqft
2022-03-01 0 days 1,545 sqft
2022-04-01 0 days 1,992 sqft
2022-05-01 0 days 1,837 sqft
Escanaba's median listing age (time on market) for 2022-05-01 was 0 days.

Escanaba's median square footage for active listings during the 2022-05-01 period was 1,837 sqft. One year prior, the average listing was 1,450 sqft.