Galesburg Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Galesburg averaged 6.91% for the week of 2023-03-16, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2023-03-09) was 7.14% and one month ago for the week of 2023-02-09, the average rate was 6.33%.

    Galesburg's average rate one year ago was 3.61%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.97%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Galesburg 30 Year Fixed Rate 2023-03-16 6.91%
    Galesburg 30 Year Fixed Rate Refi 2023-03-16 6.97%
    Galesburg 15 Year Fixed Rate 2023-03-16 5.85%
    Galesburg 15 Year Fixed Rate Refi 2023-03-16 6.66%
    Galesburg 30 Year FHA 2023-03-16 6.4%
    Galesburg 30 Year FHA Refi 2023-03-16 6.54%
    Galesburg 30 Year USDA 2023-03-16 6.34%
    Galesburg 30 Year USDA Refi 2023-03-16 6.47%
    Galesburg 30 Year VA 2023-03-16 6.27%
    Galesburg 30 Year VA Refi 2023-03-16 6.13%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Galesburg, IL.

    Galesburg 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 Galesburg, IL 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
    CBI Bank & Trust 74 5.46% $2,375
    First Mid Bank & Trust 38 5.34% $2,003
    I. H. MISSISSIPPI VALLEY CREDIT UNION 35 4.38% $1,609
    Community Mortgage Banc Corporation 27 5.43% $3,260
    INB 24 5.64% $2,091
    Wells Fargo Bank 17 5.51% $2,919
    CITIZENS EQUITY FIRST 13 4.48% $1,672
    QUICKEN LOANS, LLC 13 5.25% $4,648
    FLAT BRANCH MORTGAGE, INC. 10 5.45% $2,610
    GREENSTATE CREDIT UNION 9 4.71% $2,410
    JPMorgan Chase Bank 8 5.61% $3,785
    Old National Bank 7 6.00% $2,504
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.77% $3,305
    CALIBER HOME LOANS, INC. 5 4.88% $3,193
    PREMIA MORTGAGE, LLC 4 5.27% $1,051
    Morton Community Bank 4 4.72% $1,968
    RUHL MORTGAGE, LLC 3 4.75% $2,206
    Mr. Cooper ( Nationstar Mortgage ) 3 4.08% $6,121
    Servion, Inc. 3 3.42% $4,796
    U.S. Bank 3 6.41% $2,320
    UNITED WHOLESALE MORTGAGE, LLC 3 5.84% $7,029
    Fifth Third Bank 2 4.00% $2,696
    American Bank and Trust Company 2 4.56% $3,032
    Arvest Bank 2 5.38% $5,174
    Connexus Credit Union 2 3.69% $1,740
    Deere Employees Credit Union 2 3.62% $2,474
    NATIONS DIRECT MORTGAGE, LLC 2 4.31% $7,057
    NAVY FEDERAL CREDIT UNION 2 6.50% $844
    PENNYMAC LOAN SERVICES, LLC 2 5.25% $3,814
    Town & Country Banc Mortgage Services, Inc. 2 6.20% $1,719
    First Federal Bank 1 5.38% $1,822
    Allied First Bank,sb 1 5.50% $4,684
    First Midwest Bank 1 3.63% $2,847
    FIRST NORTHERN Credit Union 1 7.13% $2,094
    FIRST STATE MORTGAGE SERVICES, LLC 1 5.75% $6,687
    DUPACO COMMUNITY 1 5.63% $2,069
    Fortress Bank 1 6.63% $2,242
    FRONTIER FINANCIAL, INC. 1 7.38% $2,133
    DRAPER AND KRAMER MORTGAGE CORP. 1 4.25% $3,065
    Discover Bank 1 6.99% $0
    DIRECT MORTGAGE LOANS, LLC 1 6.99% $2,310
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.25% $3,734
    LENDSURE MORTGAGE CORP. 1 6.88% $15,048
    LOANDEPOT.COM, LLC 1 6.13% $3,964
    Marine Bank 1 5.25% $1,854
    MidWestOne Bank 1 5.75% $7,795
    Mortgage Research Center, LLC 1 5.50% $2,250
    COMPEER FINANCIAL, FLCA 1 4.50% $2,022
    Collins Community Credit Union 1 3.75% $1,434
    M&T Bank 1 4.13% $3,787
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.88% $3,289
    Associated Bank 1 4.13% $1,645
    USAA Federal Savings Bank 1 5.63% $2,351
    CMG MORTGAGE, INC. 1 4.38% $5,078
    Old Second National Bank 1 8.00% $3,919
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $6,437
    CHURCHILL MORTGAGE CORPORATION 1 5.50% $3,061
    BROKER SOLUTIONS, INC. 1 4.75% $5,097
    BETTER MORTGAGE CORPORATION 1 3.75% $1,332
    Bell Bank 1 4.13% $4,046
    TIB The Independent Bankersbank 1 4.00% $3,025
    AmeriHome Mortgage Company, LLC 1 5.63% $3,145
    First Bank 1 6.00% $3,198
    First Bankers Trust Company 1 4.88% $1,951
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 5.13% $5,359
    First Citizens National Bank 1 4.50% $3,074

    Galesburg Average Closing Costs & Other Stats

    Galesburg, IL's 66 lenders originated 942 loans during 2022. The total origination value was $97,880,000, with an average loan value of $103,907.

    Galesburg's average closing costs are $2,878.

    The top Galesburg lender as defined by loan originations is CBI Bank & Trust, with 74 loans originated. Their average total fees are $2,375, which is $371 higher than the next largest lender, First Mid Bank & Trust.

    The lowest fee Galesburg lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION ($1,609), CITIZENS EQUITY FIRST ($1,672), First Mid Bank & Trust ($2,003), INB ($2,091) and CBI Bank & Trust ($2,375).

    The lowest rate Galesburg lenders (with over 10 loans originated) are I. H. MISSISSIPPI VALLEY CREDIT UNION (4.38%), CITIZENS EQUITY FIRST (4.48%), QUICKEN LOANS, LLC (5.25%), First Mid Bank & Trust (5.34%) and Community Mortgage Banc Corporation (5.43%).

    Galesburg, IL 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
    CBI Bank & Trust $39,465,000 $17,035,000 -56.8% 17.4%
    First Mid Bank & Trust $7,690,000 $5,615,000 -27.0% 5.7%
    QUICKEN LOANS, LLC $7,980,000 $5,465,000 -31.5% 5.6%
    Community Mortgage Banc Corporation $8,845,000 $5,120,000 -42.1% 5.2%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $7,640,000 $5,060,000 -33.8% 5.2%
    INB $630,000 $4,040,000 541.3% 4.1%
    Midwest Bank $5,540,000 $3,855,000 -30.4% 3.9%
    Mortgage Research Center, LLC $3,195,000 $3,260,000 2.0% 3.3%
    Wells Fargo Bank $4,945,000 $3,075,000 -37.8% 3.1%
    CITIZENS EQUITY FIRST $2,015,000 $2,790,000 38.5% 2.9%
    FLAT BRANCH MORTGAGE, INC. $1,380,000 $2,280,000 65.2% 2.3%
    Morton Community Bank $1,335,000 $2,055,000 53.9% 2.1%
    JPMorgan Chase Bank $550,000 $1,520,000 176.4% 1.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $650,000 $1,440,000 121.5% 1.5%
    CALIBER HOME LOANS, INC. $2,780,000 $1,145,000 -58.8% 1.2%
    GREENSTATE CREDIT UNION $1,600,000 $1,120,000 -30.0% 1.1%
    RUHL MORTGAGE, LLC $270,000 $1,100,000 307.4% 1.1%
    Citizens Bank $2,735,000 $1,095,000 -60.0% 1.1%
    Old National Bank $1,055,000 n/a 1.1%
    Servion, Inc. $1,365,000 $1,005,000 -26.4% 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $2,085,000 $945,000 -54.7% 1.0%
    PREMIA MORTGAGE, LLC $115,000 $855,000 643.5% 0.9%
    USAA Federal Savings Bank $200,000 $835,000 317.5% 0.9%
    FREEDOM MORTGAGE CORPORATION $2,050,000 $830,000 -59.5% 0.8%
    COMPEER FINANCIAL, FLCA $1,345,000 $810,000 -39.8% 0.8%
    GERSHMAN INVESTMENT CORP. $435,000 $780,000 79.3% 0.8%
    Better Banks $145,000 $745,000 413.8% 0.8%
    NAVY FEDERAL CREDIT UNION $965,000 $720,000 -25.4% 0.7%
    UNITED WHOLESALE MORTGAGE, LLC $1,340,000 $700,000 -47.8% 0.7%
    American Bank and Trust Company $115,000 $690,000 500.0% 0.7%
    U.S. Bank $980,000 $675,000 -31.1% 0.7%
    TRIAD FINANCIAL SERVICES, INC. $25,000 $615,000 2,360.0% 0.6%
    AMERISAVE MORTGAGE CORPORATION $515,000 $600,000 16.5% 0.6%
    MidWestOne Bank $565,000 n/a 0.6%
    GUARANTEED RATE, INC. $170,000 $545,000 220.6% 0.6%
    Flanagan State Bank $340,000 $530,000 55.9% 0.5%
    CRESCENT MORTGAGE COMPANY $395,000 $520,000 31.6% 0.5%
    FIRST STATE MORTGAGE SERVICES, LLC $715,000 $515,000 -28.0% 0.5%
    United Community Bank $160,000 $510,000 218.8% 0.5%
    LENDSURE MORTGAGE CORP. $495,000 n/a 0.5%
    CMG MORTGAGE, INC. $470,000 n/a 0.5%
    Connexus Credit Union $450,000 n/a 0.5%
    PLAZA HOME MORTGAGE, INC. $830,000 $435,000 -47.6% 0.4%
    NATIONS DIRECT MORTGAGE, LLC $605,000 $430,000 -28.9% 0.4%
    Barrington Bank & Trust Company, N.A. $285,000 $405,000 42.1% 0.4%
    Ipava State Bank $260,000 $395,000 51.9% 0.4%
    Union Federal Savings and Loan Association $35,000 $370,000 957.1% 0.4%
    Associated Bank $350,000 n/a 0.4%
    PENNYMAC LOAN SERVICES, LLC $510,000 $350,000 -31.4% 0.4%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $345,000 n/a 0.4%
    Paramount Residential Mortgage Group, Inc. $75,000 $340,000 353.3% 0.3%
    DRAPER AND KRAMER MORTGAGE CORP. $335,000 n/a 0.3%
    First Bankers Trust Company $335,000 n/a 0.3%
    HOME POINT FINANCIAL CORPORATION $770,000 $320,000 -58.4% 0.3%
    Deere Employees Credit Union $980,000 $315,000 -67.9% 0.3%
    Town & Country Banc Mortgage Services, Inc. $865,000 $315,000 -63.6% 0.3%
    ASCENTRA $70,000 $310,000 342.9% 0.3%
    NEW DAY FINANCIAL, LLC $685,000 $280,000 -59.1% 0.3%
    CONTOUR MORTGAGE CORPORATION $275,000 n/a 0.3%
    Marine Bank $255,000 $255,000 0.0% 0.3%
    M&T Bank $255,000 n/a 0.3%
    NEWREZ LLC $305,000 $245,000 -19.7% 0.3%
    LAKEVIEW LOAN SERVICING, LLC $45,000 $240,000 433.3% 0.2%
    Fifth Third Bank $185,000 $230,000 24.3% 0.2%
    Fortress Bank $1,850,000 $230,000 -87.6% 0.2%
    LOANDEPOT.COM, LLC $590,000 $230,000 -61.0% 0.2%
    Arvest Bank $145,000 $220,000 51.7% 0.2%
    CHURCHILL MORTGAGE CORPORATION $105,000 $220,000 109.5% 0.2%
    MidAmerica National Bank $210,000 n/a 0.2%
    Stifel Bank and Trust $55,000 $210,000 281.8% 0.2%
    AmeriHome Mortgage Company, LLC $205,000 n/a 0.2%
    Collins Community Credit Union $205,000 n/a 0.2%
    DUPACO COMMUNITY $205,000 n/a 0.2%
    First Midwest Bank $2,640,000 $195,000 -92.6% 0.2%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $195,000 n/a 0.2%
    BROKER SOLUTIONS, INC. $505,000 $190,000 -62.4% 0.2%
    INLAND BANK & TRUST $135,000 $190,000 40.7% 0.2%
    Central Bank Illinois $675,000 $180,000 -73.3% 0.2%
    BANKORION $170,000 n/a 0.2%
    Lake Forest Bank & Trust $165,000 n/a 0.2%
    Bank of America $270,000 $160,000 -40.7% 0.2%
    FIRST CENTENNIAL MORTGAGE CORPORATION $155,000 n/a 0.2%
    FRONTIER FINANCIAL, INC. $155,000 n/a 0.2%
    Bell Bank $135,000 n/a 0.1%
    First Federal Bank $135,000 n/a 0.1%
    HOMESIDE FINANCIAL, LLC $440,000 $130,000 -70.5% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $430,000 $130,000 -69.8% 0.1%
    BETTER MORTGAGE CORPORATION $210,000 $125,000 -40.5% 0.1%
    Old Second National Bank $125,000 n/a 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $135,000 $115,000 -14.8% 0.1%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $115,000 $115,000 0.0% 0.1%
    Farmers National Bank $105,000 $115,000 9.5% 0.1%
    First Bank $165,000 $115,000 -30.3% 0.1%
    PLANET HOME LENDING, LLC $115,000 n/a 0.1%
    ROYAL UNITED MORTGAGE LLC $115,000 n/a 0.1%
    ACADEMY MORTGAGE CORPORATION $110,000 n/a 0.1%
    First National Bank of Omaha $105,000 n/a 0.1%
    AMERICAN FINANCING CORPORATION $145,000 $95,000 -34.5% 0.1%
    Carrington Mortgage Services, LLC $160,000 $95,000 -40.6% 0.1%
    PENTAGON FEDERAL CREDIT UNION $115,000 $95,000 -17.4% 0.1%
    Plains Commerce Bank $95,000 n/a 0.1%
    SUCCESS MORTGAGE PARTNERS, INC. $95,000 n/a 0.1%
    VILLAGE CAPITAL MORTGAGE $435,000 $95,000 -78.2% 0.1%
    Allied First Bank,sb $85,000 n/a 0.1%
    Discover Bank $105,000 $85,000 -19.0% 0.1%
    MidFirst Bank $85,000 n/a 0.1%
    Figure Lending LLC $80,000 n/a 0.1%
    First Citizens National Bank $75,000 n/a 0.1%
    GAS AND ELECTRIC CREDIT UNION $75,000 n/a 0.1%
    Ixonia Bank $75,000 n/a 0.1%
    Mid-Continent Funding, Inc. $340,000 $75,000 -77.9% 0.1%
    NFM, INC. $75,000 n/a 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $135,000 $65,000 -51.9% 0.1%
    Equity Prime Mortgage LLC $65,000 n/a 0.1%
    Third Federal Savings and Loan Association of Cleveland $235,000 $65,000 -72.3% 0.1%
    DIRECT MORTGAGE LOANS, LLC $55,000 n/a 0.1%
    FIRST NORTHERN Credit Union $55,000 n/a 0.1%
    Goodfield State Bank $95,000 $55,000 -42.1% 0.1%
    SPRING EQ, LLC $50,000 n/a 0.1%
    PNC Bank $1,065,000 $45,000 -95.8% 0.0%
    TIB The Independent Bankersbank $315,000 $45,000 -85.7% 0.0%
    Commerce Bank $25,000 n/a 0.0%
    Midwest Heritage Bank FSB $190,000 $25,000 -86.8% 0.0%
    AMERICAN ADVISORS GROUP $15,000 n/a 0.0%

    Galesburg's top lender by overall market share is CBI Bank & Trust, with 17.4% market share. In second place, with 5.7%, is First Mid Bank & Trust, having originated $5,615,000 in loans. In third place, with 5.6%, is QUICKEN LOANS, LLC, having originated $5,465,000 in loans. In fourth place, with 5.2%, is Community Mortgage Banc Corporation, having originated $5,120,000 in loans. In fifth place, with 5.2%, is I. H. MISSISSIPPI VALLEY CREDIT UNION, having originated $5,060,000 in loans.

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

    Realtor.com - Galesburg (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 $104,550 (3.3%) $137,069 (1.2%) 0.00 218
    2018-02-01 $99,375 (-4.4%) $134,147 (-0.4%) 0.00 216
    2018-03-01 $105,000 (-4.5%) $144,582 (2.6%) 0.00 233
    2018-04-01 $112,350 (-1.6%) $151,187 (-2.6%) 0.00 244
    2018-05-01 $109,600 (-10.1%) $144,834 (-12.1%) 0.00 262
    2018-06-01 $110,350 (-12.6%) $150,670 (-9.9%) 0.00 283
    2018-07-01 $110,750 (-10.0%) $148,251 (-10.0%) 0.00 309
    2018-08-01 $98,950 (-20.8%) $137,668 (-18.4%) 0.00 331
    2018-09-01 $95,450 (-24.1%) $131,275 (-22.2%) 0.00 325
    2018-10-01 $94,500 (-20.2%) $130,682 (-19.7%) 0.00 312
    2018-11-01 $94,975 (-14.3%) $132,992 (-14.5%) 0.00 278
    2018-12-01 $99,500 (-5.2%) $130,497 (-6.8%) 0.00 234
    2019-01-01 $103,725 (-0.8%) $131,890 (-3.8%) 0.00 224
    2019-02-01 $107,750 (8.4%) $132,685 (-1.1%) 0.00 214
    2019-03-01 $110,500 (5.2%) $140,202 (-3.0%) 0.00 198
    2019-04-01 $113,450 (1.0%) $147,762 (-2.3%) 0.00 187
    2019-05-01 $119,900 (9.4%) $155,289 (7.2%) 0.00 196
    2019-06-01 $112,900 (2.3%) $152,152 (1.0%) 0.00 214
    2019-07-01 $108,450 (-2.1%) $155,451 (4.9%) 0.00 220
    2019-08-01 $96,814 (-2.2%) $155,566 (13.0%) 0.00 225
    2019-09-01 $92,109 (-3.5%) $157,326 (19.8%) 0.00 233
    2019-10-01 $88,850 (-6.0%) $158,500 (21.3%) 0.00 239
    2019-11-01 $84,900 (-10.6%) $150,717 (13.3%) 0.00 242
    2019-12-01 $84,800 (-14.8%) $150,881 (15.6%) 0.00 222
    2020-01-01 $81,325 (-21.6%) $146,861 (11.4%) 0.00 198
    2020-02-01 $84,900 (-21.2%) $150,645 (13.5%) 0.00 179
    2020-03-01 $94,200 (-14.8%) $159,448 (13.7%) 0.00 183
    2020-04-01 $96,075 (-15.3%) $138,588 (-6.2%) 0.00 185
    2020-05-01 $100,450 (-16.2%) $166,423 (7.2%) 0.00 186
    2020-06-01 $104,225 (-7.7%) $167,076 (9.8%) 0.00 174
    2020-07-01 $109,450 (0.9%) $171,686 (10.4%) 0.00 167
    2020-08-01 $107,000 (10.5%) $172,061 (10.6%) 0.00 141
    2020-09-01 $96,950 (5.3%) $165,100 (4.9%) 0.00 131
    2020-10-01 $84,450 (-5.0%) $160,105 (1.0%) 0.00 122
    2020-11-01 $75,625 (-10.9%) $141,649 (-6.0%) 0.00 130
    2020-12-01 $75,875 (-10.5%) $140,960 (-6.6%) 0.00 107
    2021-01-01 $72,000 (-11.5%) $113,415 (-22.8%) 0.00 101
    2021-02-01 $79,900 (-5.9%) $117,263 (-22.2%) 0.00 97
    2021-03-01 $82,700 (-12.2%) $130,077 (-18.4%) 0.00 86
    2021-04-01 $87,900 (-8.5%) $136,719 (-1.4%) 0.00 71
    2021-05-01 $79,900 (-20.5%) $133,530 (-19.8%) 0.00 62
    2021-06-01 $95,900 (-8.0%) $150,559 (-9.9%) 0.00 71
    2021-07-01 $99,900 (-8.7%) $158,490 (-7.7%) 0.00 83
    2021-08-01 $117,450 (9.8%) $157,351 (-8.6%) 0.00 82
    2021-09-01 $129,950 (34.0%) $177,226 (7.3%) 0.00 94
    2021-10-01 $110,900 (31.3%) $169,451 (5.8%) 0.00 97
    2021-11-01 $102,200 (35.1%) $146,232 (3.2%) 0.00 104
    2021-12-01 $96,375 (27.0%) $136,992 (-2.8%) 0.00 100
    2022-01-01 $93,250 (29.5%) $130,841 (15.4%) 0.00 80
    2022-02-01 $100,425 (25.7%) $145,894 (24.4%) 0.00 58
    2022-03-01 $99,000 (19.7%) $149,532 (15.0%) 0.00 55
    2022-04-01 $102,500 (16.6%) $162,160 (18.6%) 0.00 72
    2022-05-01 $99,175 (24.1%) $158,363 (18.6%) 0.00 78
    2022-06-01 $93,950 (-2.0%) $155,165 (3.1%) 0.00 67
    2022-07-01 $96,700 (-3.2%) $160,430 (1.2%) 0.00 73
    2022-08-01 $96,075 (-18.2%) $172,981 (9.9%) 0.00 74
    2022-09-01 $99,950 (-23.1%) $173,455 (-2.1%) 0.00 78
    2022-10-01 $111,950 (1.0%) $169,053 (-0.2%) 0.00 82
    2022-11-01 $116,225 (13.7%) $162,743 (11.3%) 0.00 99
    2022-12-01 $115,000 (19.3%) $167,463 (22.2%) 0.00 89
    2023-01-01 $118,475 (27.1%) $164,214 (25.5%) 0.00 90
    2023-02-01 $126,950 (26.4%) $176,855 (21.2%) 0.00 82
    Galesburg's median listing price for 2023-02-01 was $126,950, a difference of $26,525 (26.4%) versus the prior year and $8,475 versus the prior month.

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

    Galesburg's average listing price for 2023-02-01 was $176,855, a difference of $30,961 (21.2%) versus the prior year and $12,641 versus the prior month.

    For the 2023-02-01 period, Galesburg had 82 MLS listings, a difference of -8 listings (-9%) versus the prior month and 24 listings (41%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,526 sqft
    2018-02-01 0 days 1,506 sqft
    2018-03-01 0 days 1,520 sqft
    2018-04-01 0 days 1,554 sqft
    2018-05-01 0 days 1,512 sqft
    2018-06-01 0 days 1,510 sqft
    2018-07-01 0 days 1,517 sqft
    2018-08-01 0 days 1,486 sqft
    2018-09-01 0 days 1,486 sqft
    2018-10-01 0 days 1,502 sqft
    2018-11-01 0 days 1,483 sqft
    2018-12-01 0 days 1,501 sqft
    2019-01-01 0 days 1,546 sqft
    2019-02-01 0 days 1,544 sqft
    2019-03-01 0 days 1,569 sqft
    2019-04-01 0 days 1,585 sqft
    2019-05-01 0 days 1,603 sqft
    2019-06-01 0 days 1,664 sqft
    2019-07-01 0 days 1,666 sqft
    2019-08-01 0 days 1,590 sqft
    2019-09-01 0 days 1,578 sqft
    2019-10-01 0 days 1,569 sqft
    2019-11-01 0 days 1,528 sqft
    2019-12-01 0 days 1,520 sqft
    2020-01-01 0 days 1,528 sqft
    2020-02-01 0 days 1,520 sqft
    2020-03-01 0 days 1,535 sqft
    2020-04-01 0 days 1,528 sqft
    2020-05-01 0 days 1,550 sqft
    2020-06-01 0 days 1,542 sqft
    2020-07-01 0 days 1,646 sqft
    2020-08-01 0 days 1,640 sqft
    2020-09-01 0 days 1,602 sqft
    2020-10-01 0 days 1,581 sqft
    2020-11-01 0 days 1,555 sqft
    2020-12-01 0 days 1,532 sqft
    2021-01-01 0 days 1,440 sqft
    2021-02-01 0 days 1,371 sqft
    2021-03-01 0 days 1,400 sqft
    2021-04-01 0 days 1,582 sqft
    2021-05-01 0 days 1,510 sqft
    2021-06-01 0 days 1,442 sqft
    2021-07-01 0 days 1,467 sqft
    2021-08-01 0 days 1,611 sqft
    2021-09-01 0 days 1,639 sqft
    2021-10-01 0 days 1,473 sqft
    2021-11-01 0 days 1,438 sqft
    2021-12-01 0 days 1,462 sqft
    2022-01-01 0 days 1,506 sqft
    2022-02-01 0 days 1,412 sqft
    2022-03-01 0 days 1,399 sqft
    2022-04-01 0 days 1,422 sqft
    2022-05-01 0 days 1,472 sqft
    2022-06-01 0 days 1,452 sqft
    2022-07-01 0 days 1,400 sqft
    2022-08-01 0 days 1,430 sqft
    2022-09-01 0 days 1,358 sqft
    2022-10-01 0 days 1,381 sqft
    2022-11-01 0 days 1,407 sqft
    2022-12-01 0 days 1,410 sqft
    2023-01-01 0 days 1,404 sqft
    2023-02-01 0 days 1,415 sqft
    Galesburg's median listing age (time on market) for 2023-02-01 was 0 days.

    Galesburg's median square footage for active listings during the 2023-02-01 period was 1,415 sqft. One year prior, the average listing was 1,412 sqft.

    Galesburg, IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 601 $71,185,000 $118,444
    Refi 133 $11,525,000 $86,654
    Cash Out Refi 94 $9,100,000 $96,809
    Home Improvement 62 $2,660,000 $42,903
    Other 52 $3,410,000 $65,577

    Galesburg's most frequently cited loan purpose was Home Purchase, with 601 originations. The 2nd most popular reason was Refi, with 133 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 274 $29,920,000 $109,197
    4-5% 191 $20,685,000 $108,298
    3-4% 142 $16,200,000 $114,085
    6-7% 135 $13,045,000 $96,630
    7-8% 70 $4,710,000 $67,286
    2.5-3% 47 $5,345,000 $113,723
    <2.5% 20 $1,630,000 $81,500
    Over 8% 4 $320,000 $80,000

    During 2022, Galesburg's most frequently originated rate bucket was 5-6%, with 274 originations.

    Loan Sizing (Galesburg, IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 579 $32,575,000 $56,261
    $100k-200k 271 $37,175,000 $137,177
    $200k-400k 81 $22,195,000 $274,012
    $400k-600k 9 $4,625,000 $513,889
    $600k-1000k 2 $1,310,000 $655,000

    Galesburg's loan sizing saw the bucket of loans from $100,000 or less with 579 originations, totaling $32,575,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 452 $53,220,000 $117,743
    60-80% 212 $26,070,000 $122,972
    20-40% 64 $3,020,000 $47,188
    40-60% 62 $4,950,000 $79,839
    Under 20% 56 $1,420,000 $25,357
    Over 100% 12 $2,280,000 $190,000

    Galesburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 452 originations, totaling $53,220,000 in origination value.