Faribault - Northfield Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Faribault - Northfield averaged 7.01% for the week of 2024-06-13, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-06) was 6.65% and one month ago for the week of 2024-05-09, the average rate was 7.05%.

Faribault - Northfield's average rate one year ago was 6.57%.

For refis of the same type during the week of 2024-06-13, the average rate was 6.85%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-13 6.95%
Faribault - Northfield 30 Year Fixed Rate 2024-06-13 7.01%
Faribault - Northfield 30 Year Fixed Rate Refi 2024-06-13 6.85%
Faribault - Northfield 15 Year Fixed Rate 2024-06-13 6.07%
Faribault - Northfield 15 Year Fixed Rate Refi 2024-06-13 6.17%
Faribault - Northfield 30 Year FHA 2024-06-13 6.53%
Faribault - Northfield 30 Year FHA Refi 2024-06-13 6.61%
Faribault - Northfield 30 Year USDA 2024-06-13 6.91%
Faribault - Northfield 30 Year USDA Refi 2024-06-13 6.51%
Faribault - Northfield 30 Year VA 2024-06-13 6.22%
Faribault - Northfield 30 Year VA Refi 2024-06-13 6.42%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Faribault-Northfield, MN.

Faribault - Northfield 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 Faribault-Northfield, MN 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUARANTEED RATE, INC. 32 6.50% $5,510
Bell Bank 30 6.67% $6,080
CROSSCOUNTRY MORTGAGE, LLC 28 7.00% $6,602
Wells Fargo Bank 27 6.73% $4,838
UNITED WHOLESALE MORTGAGE, LLC 22 6.85% $7,770
QUICKEN LOANS, LLC 20 6.72% $7,339
Prosperity Home Mortgage, LLC 19 6.82% $6,208
Frandsen Bank & Trust 18 6.62% $4,710
Merchants Bank 16 6.44% $4,755
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.89% $4,626
WINGS FINANCIAL 12 5.97% $3,879
American Mortgage & Equity Consultants, Inc. 9 6.04% $7,482
PENNYMAC LOAN SERVICES, LLC 9 6.58% $6,036
AFFINITY PLUS 7 6.61% $4,982
COMPEER FINANCIAL, FLCA 6 7.88% $4,851
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 6 7.02% $2,860
U.S. Bank 6 6.85% $3,385
LOANDEPOT.COM, LLC 6 6.35% $7,649
Royal Credit Union 5 6.45% $4,146
BAY EQUITY LLC 5 6.62% $7,355
BROKER SOLUTIONS, INC. 5 6.92% $5,879
Bremer Bank 5 7.13% $7,443
Tradition Mortgage, LLC 4 6.65% $3,948
Think Mutual Bank 4 5.56% $4,555
NEWREZ LLC 4 6.91% $4,424
Minnwest Bank 4 6.44% $5,359
Summit Mortgage Corporation 3 7.25% $6,647
CMG MORTGAGE, INC. 3 6.33% $6,452
EVERETT FINANCIAL, INC. 3 6.92% $9,276
Flagstar Bank, FSB 3 7.25% $4,729
TOWNE MORTGAGE COMPANY 3 6.33% $7,375
GUARANTEED RATE AFFINITY, LLC 3 6.28% $5,586
First Bank & Trust 2 6.13% $5,462
PLAZA HOME MORTGAGE, INC. 2 6.69% $5,619
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.74% $4,275
Cambria Financial Group, LLC 2 7.00% $5,740
The Huntington National Bank 2 7.13% $4,130
The First National Bank in Sioux Falls 1 7.00% $3,575
TOPLINE FEDERAL CREDIT UNION 1 6.38% $4,165
Union Bank and Trust Company 1 6.88% $3,719
USAA Federal Savings Bank 1 6.63% $5,797
Waterstone Mortgage Corporation 1 7.25% $9,635
ZILLOW HOME LOANS, LLC 1 6.13% $4,707
Nations Lending Corporation 1 7.13% $622
ALTRA 1 7.38% $2,602
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $3,664
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 7.13% $4,425
AMERISAVE MORTGAGE CORPORATION 1 5.88% $7,666
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.62% $3,092
Associated Bank 1 6.38% $3,411
Assurance Financial Group, L.L.C. 1 6.50% $7,439
AXIA FINANCIAL, LLC 1 6.38% $4,291
Bank of America 1 6.88% $675
Barrington Bank & Trust Company, N.A. 1 6.38% $5,770
CARDINAL FINANCIAL 1 6.63% $4,131
Central Bank 1 5.50% $6,808
Chicago Mortgage Solutions LLC 1 5.85% $3,374
CHURCHILL MORTGAGE CORPORATION 1 6.99% $4,206
Citizens Bank 1 6.63% $8,166
CITY-COUNTY CREDIT UNION 1 6.75% $4,856
CoVantage Credit Union 1 6.50% $3,404
Financial Federal Bank 1 6.25% $3,486
First Federal Bank 1 7.13% $7,135
First National Bank 1 5.99% $3,265
GREENSTATE CREDIT UNION 1 5.88% $3,400
Home Federal Savings Bank 1 6.25% $694
IDEAL 1 5.50% $5,903
JPMorgan Chase Bank 1 6.38% $8,602
MAYO EMPLOYEES FEDERAL CREDIT UNION 1 6.00% $5,956
MEGASTAR FINANCIAL CORP. 1 6.50% $6,627
MICHIGAN MUTUAL, INC. 1 7.25% $1,441
MOVEMENT MORTGAGE, LLC 1 6.63% $9,105
Mr. Cooper ( Nationstar Mortgage ) 1 5.99% $29,635
Park State Bank 1 8.32% $5,315
Plains Commerce Bank 1 7.75% $6,682
PLUS RELOCATION MORTGAGE, LLC 1 7.50% $5,918
PREMIER MORTGAGE RESOURCES, L.L.C. 1 8.38% $5,013
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $6,684
Servion, Inc. 1 6.75% $4,935
Sierra Pacific Mortgage Company, Inc. 1 7.50% $8,099

Faribault - Northfield Average Closing Costs & Other Stats

Faribault-Northfield, MN's 80 lenders originated 1,047 loans during 2023. The total origination value was $225,355,000, with an average loan value of $215,239.

Faribault - Northfield's average closing costs are $5,046.

The top Faribault - Northfield lender as defined by loan originations is GUARANTEED RATE, INC., with 32 loans originated. Their average total fees are $5,510, which is $571 lower than the next largest lender, Bell Bank.

The lowest fee Faribault - Northfield lenders (with over 10 loans originated) are WINGS FINANCIAL ($3,879), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,626), Frandsen Bank & Trust ($4,710), Merchants Bank ($4,755) and Wells Fargo Bank ($4,838).

The lowest rate Faribault - Northfield lenders (with over 10 loans originated) are WINGS FINANCIAL (5.97%), Merchants Bank (6.44%), GUARANTEED RATE, INC. (6.50%), Frandsen Bank & Trust (6.62%) and Bell Bank (6.67%).

Faribault-Northfield, MN 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
Bell Bank $13,235,000 $13,705,000 3.6% 6.1%
GUARANTEED RATE, INC. $15,235,000 $11,395,000 -25.2% 5.1%
CROSSCOUNTRY MORTGAGE, LLC $18,030,000 $11,175,000 -38.0% 5.0%
Merchants Bank $28,650,000 $10,725,000 -62.6% 4.8%
Wells Fargo Bank $24,150,000 $10,060,000 -58.3% 4.5%
UNITED WHOLESALE MORTGAGE, LLC $6,845,000 $9,215,000 34.6% 4.1%
Prosperity Home Mortgage, LLC $8,615,000 $9,080,000 5.4% 4.0%
Frandsen Bank & Trust $11,725,000 $8,950,000 -23.7% 4.0%
The State Bank of Faribault $10,210,000 $8,365,000 -18.1% 3.7%
QUICKEN LOANS, LLC $14,485,000 $7,680,000 -47.0% 3.4%
American Mortgage & Equity Consultants, Inc. $6,950,000 $6,315,000 -9.1% 2.8%
AFFINITY PLUS $9,910,000 $5,890,000 -40.6% 2.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $6,590,000 $5,510,000 -16.4% 2.4%
PENNYMAC LOAN SERVICES, LLC $7,780,000 $5,420,000 -30.3% 2.4%
WINGS FINANCIAL $17,135,000 $5,165,000 -69.9% 2.3%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $7,050,000 $4,785,000 -32.1% 2.1%
LOANDEPOT.COM, LLC $10,665,000 $4,555,000 -57.3% 2.0%
COMPEER FINANCIAL, FLCA $3,350,000 $3,765,000 12.4% 1.7%
Community Resource Bank $6,600,000 $3,645,000 -44.8% 1.6%
U.S. Bank $7,745,000 $3,175,000 -59.0% 1.4%
Mortgage Research Center, LLC $2,450,000 $2,670,000 9.0% 1.2%
Think Mutual Bank $120,000 $2,650,000 2,108.3% 1.2%
BAY EQUITY LLC $1,800,000 $2,405,000 33.6% 1.1%
GUARANTEED RATE AFFINITY, LLC $895,000 $2,355,000 163.1% 1.0%
BROKER SOLUTIONS, INC. $4,230,000 $2,285,000 -46.0% 1.0%
Minnwest Bank $3,380,000 $2,235,000 -33.9% 1.0%
Bremer Bank $2,170,000 $2,225,000 2.5% 1.0%
Flagstar Bank, FSB $3,315,000 $1,925,000 -41.9% 0.9%
Royal Credit Union $1,365,000 $1,860,000 36.3% 0.8%
Summit Mortgage Corporation $2,315,000 $1,725,000 -25.5% 0.8%
TOWNE MORTGAGE COMPANY $3,255,000 $1,665,000 -48.8% 0.7%
CMG MORTGAGE, INC. $645,000 $1,565,000 142.6% 0.7%
NEWREZ LLC $2,045,000 $1,555,000 -24.0% 0.7%
The First National Bank of Le Center $1,070,000 $1,510,000 41.1% 0.7%
Tradition Mortgage, LLC $2,580,000 $1,280,000 -50.4% 0.6%
Profinium Inc. $1,255,000 n/a 0.6%
EVERETT FINANCIAL, INC. $1,230,000 $1,240,000 0.8% 0.6%
CARDINAL FINANCIAL $1,170,000 $1,230,000 5.1% 0.5%
Mr. Cooper ( Nationstar Mortgage ) $2,110,000 $1,215,000 -42.4% 0.5%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $1,320,000 $1,125,000 -14.8% 0.5%
First Bank & Trust $1,345,000 $1,110,000 -17.5% 0.5%
PLAZA HOME MORTGAGE, INC. $1,640,000 $1,060,000 -35.4% 0.5%
Cambria Financial Group, LLC $2,750,000 $985,000 -64.2% 0.4%
AMERICAN PORTFOLIO MORTGAGE CORPORATION $3,360,000 $980,000 -70.8% 0.4%
AMERICAN PACIFIC MORTGAGE CORPORATION $945,000 n/a 0.4%
The Huntington National Bank $775,000 $850,000 9.7% 0.4%
HomeTown Bank $440,000 $795,000 80.7% 0.4%
Castle Rock Bank $785,000 n/a 0.3%
USAA Federal Savings Bank $805,000 $780,000 -3.1% 0.3%
Sunrise Banks $750,000 n/a 0.3%
FREEDOM MORTGAGE CORPORATION $2,400,000 $725,000 -69.8% 0.3%
CorTrust Bank $715,000 n/a 0.3%
Park State Bank $680,000 n/a 0.3%
NEW DAY FINANCIAL, LLC $245,000 $640,000 161.2% 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $350,000 $625,000 78.6% 0.3%
ZILLOW HOME LOANS, LLC $215,000 $600,000 179.1% 0.3%
JPMorgan Chase Bank $2,095,000 $540,000 -74.2% 0.2%
Barrington Bank & Trust Company, N.A. $1,470,000 $530,000 -63.9% 0.2%
First Federal Bank $490,000 $525,000 7.1% 0.2%
First National Bank $620,000 $525,000 -15.3% 0.2%
First National Bank Minnesota $510,000 n/a 0.2%
Financial Federal Bank $505,000 n/a 0.2%
MOVEMENT MORTGAGE, LLC $1,330,000 $505,000 -62.0% 0.2%
MAYO EMPLOYEES FEDERAL CREDIT UNION $485,000 n/a 0.2%
Plains Commerce Bank $500,000 $480,000 -4.0% 0.2%
Sierra Pacific Mortgage Company, Inc. $480,000 n/a 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $380,000 $475,000 25.0% 0.2%
The Federal Savings Bank $195,000 $470,000 141.0% 0.2%
Discover Bank $400,000 $465,000 16.3% 0.2%
Citizens Bank $870,000 $410,000 -52.9% 0.2%
PREMIER MORTGAGE RESOURCES, L.L.C. $405,000 n/a 0.2%
Alerus Financial $2,925,000 $400,000 -86.3% 0.2%
AMERISAVE MORTGAGE CORPORATION $875,000 $390,000 -55.4% 0.2%
AXIA FINANCIAL, LLC $1,540,000 $390,000 -74.7% 0.2%
PLUS RELOCATION MORTGAGE, LLC $385,000 n/a 0.2%
Associated Bank $905,000 $380,000 -58.0% 0.2%
Lakeview Bank $380,000 n/a 0.2%
Commerce Home Mortgage, Inc. $375,000 n/a 0.2%
Figure Lending LLC $65,000 $370,000 469.2% 0.2%
Waterstone Mortgage Corporation $365,000 n/a 0.2%
Central Bank $345,000 n/a 0.2%
SOUTHPOINT FINANCIAL $345,000 n/a 0.2%
Chicago Mortgage Solutions LLC $305,000 $335,000 9.8% 0.1%
TOPLINE FEDERAL CREDIT UNION $140,000 $330,000 135.7% 0.1%
ALTRA $770,000 $315,000 -59.1% 0.1%
IDEAL $315,000 n/a 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $315,000 n/a 0.1%
Bank of America $470,000 $310,000 -34.0% 0.1%
TruHome Solutions, LLC $305,000 n/a 0.1%
Century Mortgage Company DBA Century Lending Company $290,000 n/a 0.1%
BankVista $275,000 n/a 0.1%
MEGASTAR FINANCIAL CORP. $275,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $90,000 $275,000 205.6% 0.1%
Union Bank and Trust Company $275,000 n/a 0.1%
CHURCHILL MORTGAGE CORPORATION $155,000 $265,000 71.0% 0.1%
Nations Lending Corporation $260,000 n/a 0.1%
Assurance Financial Group, L.L.C. $205,000 $255,000 24.4% 0.1%
Coulee Bank $660,000 $255,000 -61.4% 0.1%
CoVantage Credit Union $255,000 n/a 0.1%
CRESCENT MORTGAGE COMPANY $275,000 $255,000 -7.3% 0.1%
Home Federal Savings Bank $200,000 $255,000 27.5% 0.1%
VERIDIAN CREDIT UNION $250,000 n/a 0.1%
Equity Prime Mortgage LLC $185,000 $235,000 27.0% 0.1%
SWBC MORTGAGE CORPORATION $235,000 n/a 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $425,000 $225,000 -47.1% 0.1%
CITY-COUNTY CREDIT UNION $485,000 $215,000 -55.7% 0.1%
Servion, Inc. $760,000 $215,000 -71.7% 0.1%
Mortgages Unlimited Inc. $350,000 $210,000 -40.0% 0.1%
NAVY FEDERAL CREDIT UNION $1,755,000 $210,000 -88.0% 0.1%
Bank of England $1,020,000 $205,000 -79.9% 0.1%
RIVERLAND BANK $205,000 n/a 0.1%
Heartland Credit Union $275,000 $195,000 -29.1% 0.1%
LAKEVIEW LOAN SERVICING, LLC $615,000 $195,000 -68.3% 0.1%
Paramount Residential Mortgage Group, Inc. $265,000 $195,000 -26.4% 0.1%
Citizens Bank Minnesota $1,295,000 $185,000 -85.7% 0.1%
Community Bank Mankato $1,010,000 $170,000 -83.2% 0.1%
Deerwood Bank $305,000 $170,000 -44.3% 0.1%
MID AMERICA MORTGAGE, INC. $25,000 $165,000 560.0% 0.1%
Highland Bank $160,000 n/a 0.1%
HIWAY $1,525,000 $155,000 -89.8% 0.1%
Carrington Mortgage Services, LLC $1,320,000 $145,000 -89.0% 0.1%
The First National Bank in Sioux Falls $145,000 n/a 0.1%
GATEWAY BANK $135,000 n/a 0.1%
MICHIGAN MUTUAL, INC. $135,000 n/a 0.1%
Associated Healthcare Credit Union $130,000 $130,000 0.0% 0.1%
Coastal Community Bank $125,000 n/a 0.1%
BMO Harris Bank $420,000 $105,000 -75.0% 0.0%
MidWestOne Bank $105,000 n/a 0.0%
GREENSTATE CREDIT UNION $85,000 n/a 0.0%
PNC Bank $200,000 $85,000 -57.5% 0.0%
Third Federal Savings and Loan Association of Cleveland $75,000 n/a 0.0%
Baxter Credit Union $55,000 n/a 0.0%
SPIRE Credit Union $3,820,000 $55,000 -98.6% 0.0%
BUILDING TRADES FEDERAL CREDIT UNION $140,000 $35,000 -75.0% 0.0%
Star Choice Credit Union $35,000 n/a 0.0%

Faribault - Northfield's top lender by overall market share is Bell Bank, with 6.1% market share. In second place, with 5.1%, is GUARANTEED RATE, INC., having originated $11,395,000 in loans. In third place, with 5.0%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $11,175,000 in loans. In fourth place, with 4.8%, is Merchants Bank, having originated $10,725,000 in loans. In fifth place, with 4.5%, is Wells Fargo Bank, having originated $10,060,000 in loans.


Faribault - Northfield Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Faribault - Northfield (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 $247,450 (-9.1%) $272,411 (-9.4%) 0.00 129
2018-02-01 $249,950 (-6.9%) $275,026 (-10.3%) 0.00 134
2018-03-01 $262,400 (-5.2%) $291,092 (-2.7%) 0.00 142
2018-04-01 $281,000 (2.2%) $311,591 (3.2%) 0.00 149
2018-05-01 $282,475 (2.7%) $309,880 (1.7%) 0.00 177
2018-06-01 $292,500 (5.9%) $313,008 (4.8%) 0.00 188
2018-07-01 $289,234 (5.2%) $315,517 (5.4%) 0.00 208
2018-08-01 $289,625 (7.3%) $316,251 (6.1%) 0.00 197
2018-09-01 $284,894 (5.9%) $312,130 (1.8%) 0.00 190
2018-10-01 $289,800 (7.4%) $314,610 (6.1%) 0.00 194
2018-11-01 $283,625 (6.1%) $310,705 (6.0%) 0.00 188
2018-12-01 $289,500 (14.0%) $310,311 (10.7%) 0.00 177
2019-01-01 $294,925 (19.2%) $321,343 (18.0%) 0.00 162
2019-02-01 $309,950 (24.0%) $342,407 (24.5%) 0.00 154
2019-03-01 $306,550 (16.8%) $337,852 (16.1%) 0.00 165
2019-04-01 $302,425 (7.6%) $325,908 (4.6%) 0.00 177
2019-05-01 $289,900 (2.6%) $317,850 (2.6%) 0.00 186
2019-06-01 $289,900 (-0.9%) $324,915 (3.8%) 0.00 208
2019-07-01 $293,700 (1.5%) $334,727 (6.1%) 0.00 223
2019-08-01 $294,391 (1.7%) $338,608 (7.1%) 0.00 222
2019-09-01 $286,240 (0.5%) $336,057 (7.7%) 0.00 220
2019-10-01 $277,450 (-4.3%) $331,419 (5.3%) 0.00 219
2019-11-01 $274,900 (-3.1%) $319,256 (2.8%) 0.00 217
2019-12-01 $276,053 (-4.6%) $325,550 (4.9%) 0.00 177
2020-01-01 $283,250 (-4.0%) $329,842 (2.6%) 0.00 153
2020-02-01 $310,000 (0.0%) $338,447 (-1.2%) 0.00 163
2020-03-01 $313,400 (2.2%) $342,825 (1.5%) 0.00 161
2020-04-01 $307,175 (1.6%) $335,580 (3.0%) 0.00 174
2020-05-01 $299,999 (3.5%) $336,497 (5.9%) 0.00 180
2020-06-01 $299,900 (3.5%) $333,305 (2.6%) 0.00 180
2020-07-01 $312,675 (6.5%) $349,511 (4.4%) 0.00 160
2020-08-01 $307,801 (4.6%) $356,037 (5.2%) 0.00 157
2020-09-01 $313,225 (9.4%) $355,483 (5.8%) 0.00 163
2020-10-01 $302,900 (9.2%) $352,857 (6.5%) 0.00 160
2020-11-01 $310,975 (13.1%) $349,367 (9.4%) 0.00 118
2020-12-01 $300,000 (8.7%) $343,807 (5.6%) 0.00 89
2021-01-01 $319,900 (12.9%) $358,105 (8.6%) 0.00 79
2021-02-01 $331,553 (7.0%) $381,386 (12.7%) 0.00 71
2021-03-01 $343,400 (9.6%) $378,905 (10.5%) 0.00 82
2021-04-01 $346,000 (12.6%) $375,486 (11.9%) 0.00 84
2021-05-01 $349,900 (16.6%) $381,215 (13.3%) 0.00 95
2021-06-01 $350,300 (16.8%) $391,006 (17.3%) 0.00 111
2021-07-01 $349,900 (11.9%) $391,321 (12.0%) 0.00 112
2021-08-01 $347,113 (12.8%) $386,989 (8.7%) 0.00 119
2021-09-01 $328,470 (4.9%) $361,187 (1.6%) 0.00 126
2021-10-01 $344,900 (13.9%) $384,296 (8.9%) 0.00 135
2021-11-01 $348,317 (12.0%) $392,145 (12.2%) 0.00 118
2021-12-01 $360,150 (20.1%) $405,173 (17.9%) 0.00 109
2022-01-01 $379,900 (18.8%) $439,216 (22.7%) 0.00 89
2022-02-01 $392,715 (18.5%) $438,264 (14.9%) 0.00 83
2022-03-01 $399,253 (16.3%) $446,078 (17.7%) 0.00 81
2022-04-01 $402,604 (16.4%) $455,918 (21.4%) 0.00 86
2022-05-01 $404,400 (15.6%) $478,156 (25.4%) 0.00 106
2022-06-01 $408,002 (16.5%) $466,050 (19.2%) 0.00 125
2022-07-01 $404,654 (15.7%) $467,857 (19.6%) 0.00 127
2022-08-01 $413,302 (19.1%) $480,288 (24.1%) 0.00 138
2022-09-01 $397,900 (21.1%) $469,071 (29.9%) 0.00 139
2022-10-01 $399,900 (16.0%) $464,982 (21.0%) 0.00 141
2022-11-01 $396,675 (13.9%) $456,346 (16.4%) 0.00 136
2022-12-01 $399,900 (11.0%) $456,811 (12.7%) 0.00 120
2023-01-01 $410,150 (8.0%) $469,560 (6.9%) 0.00 100
2023-02-01 $421,900 (7.4%) $506,659 (15.6%) 0.00 89
2023-03-01 $424,700 (6.4%) $521,196 (16.8%) 0.00 84
2023-04-01 $427,950 (6.3%) $505,645 (10.9%) 0.00 75
2023-05-01 $433,314 (7.2%) $523,650 (9.5%) 0.00 84
2023-06-01 $429,675 (5.3%) $523,720 (12.4%) 0.00 97
2023-07-01 $433,314 (7.1%) $514,434 (10.0%) 0.00 100
2023-08-01 $429,422 (3.9%) $500,781 (4.3%) 0.00 106
2023-09-01 $429,787 (8.0%) $473,746 (1.0%) 0.00 108
2023-10-01 $434,614 (8.7%) $447,512 (-3.8%) 0.00 103
2023-11-01 $399,672 (0.8%) $429,514 (-5.9%) 0.00 117
2023-12-01 $404,850 (1.2%) $431,484 (-5.5%) 0.00 98
2024-01-01 $404,850 (-1.3%) $475,109 (1.2%) 0.00 76
2024-02-01 $406,002 (-3.8%) $484,373 (-4.4%) 0.00 80
2024-03-01 $440,000 (3.6%) $523,167 (0.4%) 0.00 90
2024-04-01 $444,925 (4.0%) $541,844 (7.2%) 0.00 73
2024-05-01 $464,380 (7.2%) $568,053 (8.5%) 0.00 87
Faribault - Northfield's median listing price for 2024-05-01 was $464,380, a difference of $31,066 (7.2%) versus the prior year and $19,455 versus the prior month.

Faribault - Northfield's median listing price comes in at 0% of the national average.

Faribault - Northfield's average listing price for 2024-05-01 was $568,053, a difference of $44,403 (8.5%) versus the prior year and $26,209 versus the prior month.

For the 2024-05-01 period, Faribault - Northfield had 87 MLS listings, a difference of 14 listings (19%) versus the prior month and 3 listings (4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Faribault - Northfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,814 sqft
2018-02-01 0 days 1,807 sqft
2018-03-01 0 days 1,935 sqft
2018-04-01 0 days 1,949 sqft
2018-05-01 0 days 1,971 sqft
2018-06-01 0 days 2,115 sqft
2018-07-01 0 days 2,063 sqft
2018-08-01 0 days 2,065 sqft
2018-09-01 0 days 2,092 sqft
2018-10-01 0 days 1,995 sqft
2018-11-01 0 days 1,975 sqft
2018-12-01 0 days 1,940 sqft
2019-01-01 0 days 1,958 sqft
2019-02-01 0 days 2,026 sqft
2019-03-01 0 days 2,029 sqft
2019-04-01 0 days 2,020 sqft
2019-05-01 0 days 2,020 sqft
2019-06-01 0 days 2,041 sqft
2019-07-01 0 days 2,044 sqft
2019-08-01 0 days 2,022 sqft
2019-09-01 0 days 1,993 sqft
2019-10-01 0 days 1,968 sqft
2019-11-01 0 days 1,947 sqft
2019-12-01 0 days 1,880 sqft
2020-01-01 0 days 1,862 sqft
2020-02-01 0 days 1,911 sqft
2020-03-01 0 days 1,982 sqft
2020-04-01 0 days 1,925 sqft
2020-05-01 0 days 1,975 sqft
2020-06-01 0 days 1,911 sqft
2020-07-01 0 days 1,903 sqft
2020-08-01 0 days 1,895 sqft
2020-09-01 0 days 1,911 sqft
2020-10-01 0 days 1,855 sqft
2020-11-01 0 days 1,852 sqft
2020-12-01 0 days 1,760 sqft
2021-01-01 0 days 1,750 sqft
2021-02-01 0 days 1,799 sqft
2021-03-01 0 days 1,869 sqft
2021-04-01 0 days 1,847 sqft
2021-05-01 0 days 1,851 sqft
2021-06-01 0 days 1,982 sqft
2021-07-01 0 days 1,953 sqft
2021-08-01 0 days 1,950 sqft
2021-09-01 0 days 1,829 sqft
2021-10-01 0 days 1,839 sqft
2021-11-01 0 days 1,900 sqft
2021-12-01 0 days 1,829 sqft
2022-01-01 0 days 1,973 sqft
2022-02-01 0 days 2,659 sqft
2022-03-01 0 days 2,606 sqft
2022-04-01 0 days 2,637 sqft
2022-05-01 0 days 1,935 sqft
2022-06-01 0 days 2,091 sqft
2022-07-01 0 days 2,101 sqft
2022-08-01 0 days 2,161 sqft
2022-09-01 0 days 2,144 sqft
2022-10-01 0 days 2,160 sqft
2022-11-01 0 days 1,995 sqft
2022-12-01 0 days 1,927 sqft
2023-01-01 0 days 2,016 sqft
2023-02-01 0 days 1,954 sqft
2023-03-01 0 days 2,026 sqft
2023-04-01 0 days 2,051 sqft
2023-05-01 0 days 2,178 sqft
2023-06-01 0 days 2,105 sqft
2023-07-01 0 days 2,079 sqft
2023-08-01 0 days 2,047 sqft
2023-09-01 0 days 2,079 sqft
2023-10-01 0 days 2,087 sqft
2023-11-01 0 days 1,985 sqft
2023-12-01 0 days 1,848 sqft
2024-01-01 0 days 1,907 sqft
2024-02-01 0 days 1,947 sqft
2024-03-01 0 days 2,056 sqft
2024-04-01 0 days 2,022 sqft
2024-05-01 0 days 2,228 sqft
Faribault - Northfield's median listing age (time on market) for 2024-05-01 was 0 days.

Faribault - Northfield's median square footage for active listings during the 2024-05-01 period was 2,228 sqft. One year prior, the average listing was 2,178 sqft.

Faribault-Northfield, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 647 $180,205,000 $278,524
Home Improvement 125 $8,715,000 $69,720
Other 125 $9,035,000 $72,280
Cash Out Refi 77 $14,815,000 $192,403
Refi 73 $12,585,000 $172,397

Faribault - Northfield's most frequently cited loan purpose was Home Purchase, with 647 originations. The 2nd most popular reason was Home Improvement, with 125 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 375 $93,965,000 $250,573
7-8% 234 $50,000,000 $213,675
5-6% 139 $35,905,000 $258,309
Over 8% 121 $11,955,000 $98,802
4-5% 25 $5,075,000 $203,000
<2.5% 22 $430,000 $19,545
2.5-3% 19 $2,925,000 $153,947
3-4% 2 $530,000 $265,000

During 2023, Faribault - Northfield's most frequently originated rate bucket was 6-7%, with 375 originations.

Loan Sizing (Faribault-Northfield, MN MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 419 $119,025,000 $284,069
$100,000 or less 304 $14,300,000 $47,039
$100k-200k 210 $32,300,000 $153,810
$400k-600k 94 $43,920,000 $467,234
$600k-1000k 18 $12,780,000 $710,000
$Over $1MM 2 $3,030,000 $1,515,000

Faribault - Northfield's loan sizing saw the bucket of loans from $200k-400k with 419 originations, totaling $119,025,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 386 $115,880,000 $300,207
Under 20% 233 $9,985,000 $42,854
60-80% 145 $41,635,000 $287,138
20-40% 102 $14,040,000 $137,647
40-60% 59 $12,935,000 $219,237
Over 100% 14 $6,020,000 $430,000

Faribault - Northfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 386 originations, totaling $115,880,000 in origination value.