Forrest 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 Forrest City averaged 6.57% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.59% and one month ago for the week of 2023-04-20, the average rate was 6.39%.

    Forrest City's average rate one year ago was 5.15%.

    For refis of the same type during the week of 2023-05-25, the average rate was 6.87%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Forrest City 30 Year Fixed Rate 2023-05-25 6.57%
    Forrest City 30 Year Fixed Rate Refi 2023-05-25 6.87%
    Forrest City 15 Year Fixed Rate 2023-05-25 6.17%
    Forrest City 15 Year Fixed Rate Refi 2023-05-25 6.57%
    Forrest City 30 Year FHA 2023-05-25 6.81%
    Forrest City 30 Year FHA Refi 2023-05-25 6.81%
    Forrest City 30 Year USDA 2023-05-25 6.43%
    Forrest City 30 Year USDA Refi 2023-05-25 6.63%
    Forrest City 30 Year VA 2023-05-25 6.31%
    Forrest City 30 Year VA Refi 2023-05-25 6.51%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Forrest City, AR.

    Forrest 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 Forrest City, AR 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
    FirstTrust Home Loans, Inc. 6 5.08% $2,366
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.37% $3,211
    QUICKEN LOANS, LLC 2 3.18% $5,393
    MORTGAGE FINANCIAL SERVICES, LLC 2 5.63% $3,418
    Nations Lending Corporation 1 6.75% $5,849
    PENNYMAC LOAN SERVICES, LLC 1 3.75% $5,246
    Regions Bank 1 4.00% $2,477
    Truist 1 6.00% $4,093
    UNITED WHOLESALE MORTGAGE, LLC 1 6.75% $4,131
    U.S. Bank 1 4.88% $2,025
    Citizens Bank 1 2.88% $3,066
    Wells Fargo Bank 1 4.88% $6,628
    DAS Acquisition Company, LLC 1 5.38% $3,258
    Independent Bank 1 4.99% $3,273
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.50% $4,812

    Forrest City Average Closing Costs & Other Stats

    Forrest City, AR's 15 lenders originated 153 loans during 2022. The total origination value was $41,795,000, with an average loan value of $273,170.

    Forrest City's average closing costs are $3,883.

    The top Forrest City lender as defined by loan originations is FirstTrust Home Loans, Inc., with 6 loans originated. Their average total fees are $2,366, which is $844 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

    The lowest fee Forrest City lenders (with over 10 loans originated) are .

    The lowest rate Forrest City lenders (with over 10 loans originated) are .

    Forrest City, AR 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
    FIRST TECHNOLOGY $17,225,000 n/a 41.2%
    Capital One $7,805,000 n/a 18.7%
    FirstTrust Home Loans, Inc. $3,040,000 $2,730,000 -10.2% 6.5%
    QUICKEN LOANS, LLC $3,260,000 $2,285,000 -29.9% 5.5%
    DAS Acquisition Company, LLC $1,950,000 $2,040,000 4.6% 4.9%
    First National Bank of Eastern Arkansas $2,605,000 $1,545,000 -40.7% 3.7%
    Mortgage Research Center, LLC $580,000 $1,125,000 94.0% 2.7%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $1,470,000 $805,000 -45.2% 1.9%
    21ST MORTGAGE CORPORATION $340,000 $500,000 47.1% 1.2%
    PENNYMAC LOAN SERVICES, LLC $170,000 $450,000 164.7% 1.1%
    Eagle Bank and Trust Company $1,125,000 $400,000 -64.4% 1.0%
    Wells Fargo Bank $320,000 $400,000 25.0% 1.0%
    Truist $355,000 n/a 0.8%
    GUILD MORTGAGE COMPANY $105,000 $335,000 219.0% 0.8%
    VANDERBILT MORTGAGE AND FINANCE, INC. $370,000 $300,000 -18.9% 0.7%
    SUCCESS Federal Credit Union $120,000 $265,000 120.8% 0.6%
    Regions Bank $885,000 $260,000 -70.6% 0.6%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $280,000 $240,000 -14.3% 0.6%
    UNITED WHOLESALE MORTGAGE, LLC $240,000 n/a 0.6%
    NBKC BANK $235,000 n/a 0.6%
    Mid-Continent Funding, Inc. $225,000 n/a 0.5%
    U.S. Bank $85,000 $160,000 88.2% 0.4%
    Nations Lending Corporation $430,000 $155,000 -64.0% 0.4%
    FREEDOM MORTGAGE CORPORATION $690,000 $145,000 -79.0% 0.3%
    AMERICAN MORTGAGE SERVICES INCORPORATED $135,000 n/a 0.3%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $125,000 n/a 0.3%
    LOANDEPOT.COM, LLC $125,000 n/a 0.3%
    MORTGAGE FINANCIAL SERVICES, LLC $210,000 $120,000 -42.9% 0.3%
    CALIBER HOME LOANS, INC. $180,000 $115,000 -36.1% 0.3%
    Citizens Bank $105,000 n/a 0.3%
    Evolve Bank & Trust $145,000 $105,000 -27.6% 0.3%
    The Home Loan Expert LLC $100,000 n/a 0.2%
    Southern Bank $95,000 n/a 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $85,000 n/a 0.2%
    FIRST SOUTH FINANCIAL $65,000 n/a 0.2%
    LOANPAL, LLC $65,000 n/a 0.2%
    Arvest Bank $95,000 $60,000 -36.8% 0.1%
    AMERICAN ADVISORS GROUP $115,000 $55,000 -52.2% 0.1%
    BancorpSouth Bank $55,000 n/a 0.1%
    CSL Financial, LLC $120,000 $45,000 -62.5% 0.1%
    Independent Bank $45,000 $45,000 0.0% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $55,000 $45,000 -18.2% 0.1%
    First National Bank $25,000 n/a 0.1%

    Forrest City's top lender by overall market share is FIRST TECHNOLOGY, with 41.2% market share. In second place, with 18.7%, is Capital One, having originated $7,805,000 in loans. In third place, with 6.5%, is FirstTrust Home Loans, Inc., having originated $2,730,000 in loans. In fourth place, with 5.5%, is QUICKEN LOANS, LLC, having originated $2,285,000 in loans. In fifth place, with 4.9%, is DAS Acquisition Company, LLC, having originated $2,040,000 in loans.

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

    Realtor.com - Forrest 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 $102,400 (4.5%) $125,665 (0.4%) 0.00 74
    2018-02-01 $110,000 (14.3%) $127,516 (-0.9%) 0.00 75
    2018-03-01 $112,500 (18.4%) $144,527 (17.1%) 0.00 72
    2018-04-01 $120,750 (23.9%) $149,862 (16.8%) 0.00 67
    2018-05-01 $117,500 (23.7%) $147,546 (17.4%) 0.00 65
    2018-06-01 $114,500 (23.0%) $146,479 (13.3%) 0.00 65
    2018-07-01 $119,975 (21.5%) $148,395 (11.2%) 0.00 61
    2018-08-01 $111,250 (12.5%) $143,534 (14.5%) 0.00 58
    2018-09-01 $100,000 (0.1%) $139,415 (2.2%) 0.00 53
    2018-10-01 $105,000 (5.2%) $143,673 (12.4%) 0.00 55
    2018-11-01 $100,000 (1.0%) $138,199 (16.8%) 0.00 60
    2018-12-01 $99,900 (0.2%) $134,397 (9.3%) 0.00 58
    2019-01-01 $99,225 (-3.1%) $116,422 (-7.4%) 0.00 57
    2019-02-01 $109,000 (-0.9%) $142,759 (12.0%) 0.00 57
    2019-03-01 $104,950 (-6.7%) $139,341 (-3.6%) 0.00 56
    2019-04-01 $104,850 (-13.2%) $136,813 (-8.7%) 0.00 56
    2019-05-01 $106,175 (-9.6%) $139,907 (-5.2%) 0.00 54
    2019-06-01 $110,000 (-3.9%) $147,559 (0.7%) 0.00 50
    2019-07-01 $105,000 (-12.5%) $149,332 (0.6%) 0.00 48
    2019-08-01 $107,500 (-3.4%) $151,191 (5.3%) 0.00 47
    2019-09-01 $101,450 (1.5%) $125,263 (-10.2%) 0.00 51
    2019-10-01 $98,500 (-6.2%) $122,426 (-14.8%) 0.00 57
    2019-11-01 $91,250 (-8.8%) $130,691 (-5.4%) 0.00 58
    2019-12-01 $103,500 (3.6%) $140,109 (4.3%) 0.00 60
    2020-01-01 $95,100 (-4.2%) $136,154 (17.0%) 0.00 57
    2020-02-01 $89,950 (-17.5%) $136,567 (-4.3%) 0.00 56
    2020-03-01 $91,750 (-12.6%) $141,874 (1.8%) 0.00 58
    2020-04-01 $87,200 (-16.8%) $139,817 (2.2%) 0.00 50
    2020-05-01 $89,900 (-15.3%) $145,887 (4.3%) 0.00 49
    2020-06-01 $123,675 (12.4%) $156,642 (6.2%) 0.00 45
    2020-07-01 $111,500 (6.2%) $152,436 (2.1%) 0.00 40
    2020-08-01 $124,950 (16.2%) $157,990 (4.5%) 0.00 37
    2020-09-01 $114,000 (12.4%) $148,558 (18.6%) 0.00 44
    2020-10-01 $111,000 (12.7%) $148,424 (21.2%) 0.00 44
    2020-11-01 $115,250 (26.3%) $149,623 (14.5%) 0.00 43
    2020-12-01 $118,500 (14.5%) $153,199 (9.3%) 0.00 42
    2021-01-01 $118,500 (24.6%) $167,034 (22.7%) 0.00 30
    2021-02-01 $104,750 (16.5%) $163,937 (20.0%) 0.00 31
    2021-03-01 $97,250 (6.0%) $162,791 (14.7%) 0.00 30
    2021-04-01 $107,250 (23.0%) $167,856 (20.1%) 0.00 26
    2021-05-01 $120,000 (33.5%) $182,904 (25.4%) 0.00 22
    2021-06-01 $113,500 (-8.2%) $180,476 (15.2%) 0.00 26
    2021-07-01 $98,100 (-12.0%) $161,166 (5.7%) 0.00 26
    2021-08-01 $105,000 (-16.0%) $160,033 (1.3%) 0.00 32
    2021-09-01 $122,000 (7.0%) $165,845 (11.6%) 0.00 30
    2021-10-01 $119,000 (7.2%) $155,777 (5.0%) 0.00 29
    2021-11-01 $114,000 (-1.1%) $153,926 (2.9%) 0.00 26
    2021-12-01 $125,000 (5.5%) $159,178 (3.9%) 0.00 25
    2022-01-01 $125,000 (5.5%) $166,826 (-0.1%) 0.00 25
    2022-02-01 $115,725 (10.5%) $164,946 (0.6%) 0.00 31
    2022-03-01 $109,000 (12.1%) $149,988 (-7.9%) 0.00 31
    2022-04-01 $114,300 (6.6%) $164,031 (-2.3%) 0.00 31
    2022-05-01 $123,750 (3.1%) $162,766 (-11.0%) 0.00 31
    2022-06-01 $126,000 (11.0%) $172,679 (-4.3%) 0.00 32
    2022-07-01 $120,000 (22.3%) $157,071 (-2.5%) 0.00 39
    2022-08-01 $124,950 (19.0%) $177,521 (10.9%) 0.00 40
    2022-09-01 $125,000 (2.5%) $195,297 (17.8%) 0.00 39
    2022-10-01 $109,900 (-7.7%) $180,245 (15.7%) 0.00 44
    2022-11-01 $107,425 (-5.8%) $171,179 (11.2%) 0.00 49
    2022-12-01 $109,000 (-12.8%) $168,546 (5.9%) 0.00 46
    2023-01-01 $128,100 (2.5%) $180,088 (8.0%) 0.00 38
    2023-02-01 $129,700 (12.1%) $179,241 (8.7%) 0.00 38
    2023-03-01 $130,000 (19.3%) $180,351 (20.2%) 0.00 36
    2023-04-01 $130,000 (13.7%) $181,238 (10.5%) 0.00 34
    Forrest City's median listing price for 2023-04-01 was $130,000, a difference of $15,700 (13.7%) versus the prior year and $0 versus the prior month.

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

    Forrest City's average listing price for 2023-04-01 was $181,238, a difference of $17,207 (10.5%) versus the prior year and $887 versus the prior month.

    For the 2023-04-01 period, Forrest City had 34 MLS listings, a difference of -2 listings (-6%) versus the prior month and 3 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Forrest 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 1,787 sqft
    2018-02-01 0 days 1,895 sqft
    2018-03-01 0 days 1,970 sqft
    2018-04-01 0 days 2,068 sqft
    2018-05-01 0 days 2,020 sqft
    2018-06-01 0 days 1,935 sqft
    2018-07-01 0 days 1,905 sqft
    2018-08-01 0 days 1,869 sqft
    2018-09-01 0 days 1,895 sqft
    2018-10-01 0 days 1,925 sqft
    2018-11-01 0 days 1,970 sqft
    2018-12-01 0 days 1,970 sqft
    2019-01-01 0 days 1,953 sqft
    2019-02-01 0 days 2,017 sqft
    2019-03-01 0 days 2,004 sqft
    2019-04-01 0 days 2,004 sqft
    2019-05-01 0 days 2,004 sqft
    2019-06-01 0 days 2,057 sqft
    2019-07-01 0 days 1,996 sqft
    2019-08-01 0 days 1,920 sqft
    2019-09-01 0 days 1,670 sqft
    2019-10-01 0 days 1,629 sqft
    2019-11-01 0 days 1,719 sqft
    2019-12-01 0 days 1,697 sqft
    2020-01-01 0 days 1,758 sqft
    2020-02-01 0 days 1,695 sqft
    2020-03-01 0 days 1,870 sqft
    2020-04-01 0 days 1,768 sqft
    2020-05-01 0 days 1,767 sqft
    2020-06-01 0 days 1,893 sqft
    2020-07-01 0 days 1,793 sqft
    2020-08-01 0 days 1,793 sqft
    2020-09-01 0 days 1,801 sqft
    2020-10-01 0 days 1,792 sqft
    2020-11-01 0 days 1,800 sqft
    2020-12-01 0 days 1,825 sqft
    2021-01-01 0 days 1,841 sqft
    2021-02-01 0 days 1,774 sqft
    2021-03-01 0 days 1,783 sqft
    2021-04-01 0 days 1,836 sqft
    2021-05-01 0 days 1,870 sqft
    2021-06-01 0 days 1,847 sqft
    2021-07-01 0 days 1,776 sqft
    2021-08-01 0 days 1,798 sqft
    2021-09-01 0 days 1,835 sqft
    2021-10-01 0 days 1,700 sqft
    2021-11-01 0 days 1,668 sqft
    2021-12-01 0 days 1,817 sqft
    2022-01-01 0 days 1,863 sqft
    2022-02-01 0 days 1,996 sqft
    2022-03-01 0 days 1,716 sqft
    2022-04-01 0 days 1,897 sqft
    2022-05-01 0 days 1,754 sqft
    2022-06-01 0 days 1,667 sqft
    2022-07-01 0 days 1,631 sqft
    2022-08-01 0 days 1,629 sqft
    2022-09-01 0 days 1,680 sqft
    2022-10-01 0 days 1,530 sqft
    2022-11-01 0 days 1,417 sqft
    2022-12-01 0 days 1,369 sqft
    2023-01-01 0 days 1,408 sqft
    2023-02-01 0 days 1,594 sqft
    2023-03-01 0 days 1,731 sqft
    2023-04-01 0 days 1,617 sqft
    Forrest City's median listing age (time on market) for 2023-04-01 was 0 days.

    Forrest City's median square footage for active listings during the 2023-04-01 period was 1,617 sqft. One year prior, the average listing was 1,897 sqft.

    Forrest City, AR Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 101 $19,885,000 $196,881
    Refi 22 $2,240,000 $101,818
    Cash Out Refi 19 $19,245,000 $1,012,895
    Home Improvement 10 $350,000 $35,000
    Other 1 $75,000 $75,000

    Forrest City's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 22 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 36 $5,350,000 $148,611
    4-5% 27 $3,355,000 $124,259
    6-7% 22 $19,890,000 $904,091
    3-4% 18 $1,970,000 $109,444
    2.5-3% 8 $790,000 $98,750
    Over 8% 5 $325,000 $65,000
    7-8% 4 $390,000 $97,500
    <2.5% 1 $175,000 $175,000

    During 2022, Forrest City's most frequently originated rate bucket was 5-6%, with 36 originations.

    Loan Sizing (Forrest City, AR MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 77 $4,285,000 $55,649
    $100k-200k 58 $7,820,000 $134,828
    $200k-400k 14 $3,570,000 $255,000
    $400k-600k 2 $1,090,000 $545,000
    $Over $1MM 2 $25,030,000 $12,515,000

    Forrest City's loan sizing saw the bucket of loans from $100,000 or less with 77 originations, totaling $4,285,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 76 $10,230,000 $134,605
    60-80% 24 $27,870,000 $1,161,250
    40-60% 13 $1,065,000 $81,923
    20-40% 4 $170,000 $42,500
    Over 100% 3 $765,000 $255,000
    Under 20% 2 $40,000 $20,000

    Forrest City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 76 originations, totaling $10,230,000 in origination value.