Galesburg Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Galesburg averaged
6.35%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.05% and
one month ago for the week of 2024-09-05, the
average rate was 6.18%.
Galesburg's average rate one year ago was 7.62%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.52%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
Galesburg 30 Year Fixed Rate | 2024-10-10 | 6.35% |
Galesburg 30 Year Fixed Rate Refi | 2024-10-10 | 6.52% |
Galesburg 15 Year Fixed Rate | 2024-10-10 | 5.51% |
Galesburg 15 Year Fixed Rate Refi | 2024-10-10 | 5.51% |
Galesburg 30 Year FHA | 2024-10-10 | 5.81% |
Galesburg 30 Year FHA Refi | 2024-10-10 | 6.2% |
Galesburg 30 Year USDA | 2024-10-10 | 6.08% |
Galesburg 30 Year USDA Refi | 2024-10-10 | 5.98% |
Galesburg 30 Year VA | 2024-10-10 | 5.95% |
Galesburg 30 Year VA Refi | 2024-10-10 | 5.85% |
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.).
Galesburg Average Closing Costs & Other Stats
Galesburg, IL's 55 lenders originated 825
loans during 2023. The total origination value was $85,295,000, with an average loan value of
$103,388.
Galesburg's average closing costs are $2,966.
The top Galesburg lender as defined by loan originations is CBI Bank & Trust, with
58 loans originated. Their average total fees are
$2,581, which is $549
higher than the next largest lender,
First Mid Bank & Trust.
The lowest fee Galesburg lenders (with over 10 loans originated) are
INB ($1,975), First Mid Bank & Trust ($2,033), I. H. MISSISSIPPI VALLEY CREDIT UNION ($2,139), CBI Bank & Trust ($2,581) and Community Mortgage Banc Corporation ($2,678).
The lowest rate Galesburg lenders (with over 10 loans originated) are
First Mid Bank & Trust (6.25%), QUICKEN LOANS, LLC (6.54%), Community Mortgage Banc Corporation (6.74%), INB (6.84%) and FLAT BRANCH MORTGAGE, INC. (6.96%).
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
CBI Bank & Trust | $17,035,000 | $14,535,000 | -14.7% | 17.0% |
First National Bank of Omaha | $105,000 | $8,965,000 | 8,438.1% | 10.5% |
First Mid Bank & Trust | $5,615,000 | $5,050,000 | -10.1% | 5.9% |
QUICKEN LOANS, LLC | $5,465,000 | $4,910,000 | -10.2% | 5.8% |
Midwest Bank | $3,855,000 | $4,030,000 | 4.5% | 4.7% |
INB | $4,040,000 | $3,495,000 | -13.5% | 4.1% |
I. H. MISSISSIPPI VALLEY CREDIT UNION | $5,060,000 | $3,310,000 | -34.6% | 3.9% |
Community Mortgage Banc Corporation | $5,120,000 | $2,440,000 | -52.3% | 2.9% |
CITIZENS EQUITY FIRST | $2,790,000 | $2,370,000 | -15.1% | 2.8% |
Mortgage Research Center, LLC | $3,260,000 | $2,150,000 | -34.0% | 2.5% |
FLAT BRANCH MORTGAGE, INC. | $2,280,000 | $1,725,000 | -24.3% | 2.0% |
UNITED WHOLESALE MORTGAGE, LLC | $700,000 | $1,430,000 | 104.3% | 1.7% |
Old National Bank | $1,055,000 | $1,405,000 | 33.2% | 1.6% |
Wells Fargo Bank | $3,075,000 | $1,390,000 | -54.8% | 1.6% |
Morton Community Bank | $2,055,000 | $1,370,000 | -33.3% | 1.6% |
GERSHMAN INVESTMENT CORP. | $780,000 | $1,205,000 | 54.5% | 1.4% |
U.S. Bank | $675,000 | $955,000 | 41.5% | 1.1% |
BROKER SOLUTIONS, INC. | $190,000 | $950,000 | 400.0% | 1.1% |
GREENSTATE CREDIT UNION | $1,120,000 | $925,000 | -17.4% | 1.1% |
TRIAD FINANCIAL SERVICES, INC. | $615,000 | $920,000 | 49.6% | 1.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,440,000 | $890,000 | -38.2% | 1.0% |
Servion, Inc. | $1,005,000 | $890,000 | -11.4% | 1.0% |
PLAZA HOME MORTGAGE, INC. | $435,000 | $710,000 | 63.2% | 0.8% |
Fortress Bank | $230,000 | $625,000 | 171.7% | 0.7% |
USAA Federal Savings Bank | $835,000 | $625,000 | -25.1% | 0.7% |
GUARANTEED RATE, INC. | $545,000 | $595,000 | 9.2% | 0.7% |
Bank of Farmington | $535,000 | n/a | 0.6% | |
United Community Bank | $510,000 | $530,000 | 3.9% | 0.6% |
COMPEER FINANCIAL, FLCA | $810,000 | $475,000 | -41.4% | 0.6% |
FIRST STATE MORTGAGE SERVICES, LLC | $515,000 | $470,000 | -8.7% | 0.6% |
Barrington Bank & Trust Company, N.A. | $405,000 | $460,000 | 13.6% | 0.5% |
CRESCENT MORTGAGE COMPANY | $520,000 | $440,000 | -15.4% | 0.5% |
R.I.A. Federal Credit Union | $430,000 | n/a | 0.5% | |
MidAmerica National Bank | $210,000 | $425,000 | 102.4% | 0.5% |
HOMESIDE FINANCIAL, LLC | $130,000 | $420,000 | 223.1% | 0.5% |
Union Federal Savings and Loan Association | $370,000 | $410,000 | 10.8% | 0.5% |
CIBM Bank | $365,000 | n/a | 0.4% | |
AMERISAVE MORTGAGE CORPORATION | $600,000 | $360,000 | -40.0% | 0.4% |
SUCCESS MORTGAGE PARTNERS, INC. | $95,000 | $345,000 | 263.2% | 0.4% |
Mr. Cooper ( Nationstar Mortgage ) | $945,000 | $330,000 | -65.1% | 0.4% |
American Bank and Trust Company | $690,000 | $320,000 | -53.6% | 0.4% |
Heartland Bank and Trust Company | $305,000 | n/a | 0.4% | |
Heritage Bank | $295,000 | n/a | 0.3% | |
Regions Bank | $295,000 | n/a | 0.3% | |
STATE BANK OFTOULON | $295,000 | n/a | 0.3% | |
NEWREZ LLC | $245,000 | $280,000 | 14.3% | 0.3% |
CALIBER HOME LOANS, INC. | $1,145,000 | $275,000 | -76.0% | 0.3% |
IAA Credit Union | $275,000 | n/a | 0.3% | |
Deere Employees Credit Union | $315,000 | $255,000 | -19.0% | 0.3% |
RUHL MORTGAGE, LLC | $1,100,000 | $250,000 | -77.3% | 0.3% |
JPMorgan Chase Bank | $1,520,000 | $240,000 | -84.2% | 0.3% |
Ipava State Bank | $395,000 | $220,000 | -44.3% | 0.3% |
SUN WEST MORTGAGE COMPANY, INC. | $215,000 | n/a | 0.3% | |
Flanagan State Bank | $530,000 | $210,000 | -60.4% | 0.2% |
Connexus Credit Union | $450,000 | $200,000 | -55.6% | 0.2% |
Fifth Third Bank | $230,000 | $195,000 | -15.2% | 0.2% |
Busey Bank | $190,000 | n/a | 0.2% | |
AMERICAN PACIFIC MORTGAGE CORPORATION | $115,000 | $185,000 | 60.9% | 0.2% |
Baxter Credit Union | $185,000 | n/a | 0.2% | |
DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $165,000 | n/a | 0.2% | |
Allied First Bank,sb | $85,000 | $155,000 | 82.4% | 0.2% |
MORTGAGEONE, INC. | $155,000 | n/a | 0.2% | |
NAVY FEDERAL CREDIT UNION | $720,000 | $150,000 | -79.2% | 0.2% |
ZILLOW HOME LOANS, LLC | $150,000 | n/a | 0.2% | |
NP, Inc. | $145,000 | n/a | 0.2% | |
PNC Bank | $45,000 | $130,000 | 188.9% | 0.2% |
GAS AND ELECTRIC CREDIT UNION | $75,000 | $125,000 | 66.7% | 0.1% |
TIB The Independent Bankersbank | $45,000 | $125,000 | 177.8% | 0.1% |
First Federal Bank | $135,000 | $120,000 | -11.1% | 0.1% |
Ixonia Bank | $75,000 | $120,000 | 60.0% | 0.1% |
Carrington Mortgage Services, LLC | $95,000 | $115,000 | 21.1% | 0.1% |
LOANDEPOT.COM, LLC | $230,000 | $115,000 | -50.0% | 0.1% |
PREMIA MORTGAGE, LLC | $855,000 | $115,000 | -86.5% | 0.1% |
ASCENTRA | $310,000 | $110,000 | -64.5% | 0.1% |
CROSSCOUNTRY MORTGAGE, LLC | $65,000 | $95,000 | 46.2% | 0.1% |
NATIONS DIRECT MORTGAGE, LLC | $430,000 | $95,000 | -77.9% | 0.1% |
LEADERONE FINANCIAL CORPORATION | $90,000 | n/a | 0.1% | |
Associated Bank | $350,000 | $85,000 | -75.7% | 0.1% |
FBC MORTGAGE, LLC | $85,000 | n/a | 0.1% | |
NFM, INC. | $75,000 | $85,000 | 13.3% | 0.1% |
PENNYMAC LOAN SERVICES, LLC | $350,000 | $85,000 | -75.7% | 0.1% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $85,000 | n/a | 0.1% | |
SENB Bank | $75,000 | n/a | 0.1% | |
COMMUNITY STATE BANK | $70,000 | n/a | 0.1% | |
Carrollton Bank | $65,000 | n/a | 0.1% | |
Stifel Bank and Trust | $210,000 | $65,000 | -69.0% | 0.1% |
GUILD MORTGAGE COMPANY | $55,000 | n/a | 0.1% | |
PENTAGON FEDERAL CREDIT UNION | $95,000 | $55,000 | -42.1% | 0.1% |
VERITAS FUNDING, LLC | $55,000 | n/a | 0.1% | |
The First National Bank of Ottawa | $45,000 | n/a | 0.1% | |
Discover Bank | $85,000 | $35,000 | -58.8% | 0.0% |
ROYAL UNITED MORTGAGE LLC | $115,000 | $35,000 | -69.6% | 0.0% |
Coastal Community Bank | $25,000 | n/a | 0.0% | |
York Traditions Bank | $15,000 | n/a | 0.0% | |
Two Rivers Bank & Trust | $5,000 | n/a | 0.0% |
Galesburg's top lender by overall market share is CBI Bank & Trust, with 17.0% market share. In second place, with 10.5%, is First National Bank of Omaha, having originated $8,965,000 in loans. In third place, with 5.9%, is First Mid Bank & Trust, having originated $5,050,000 in loans. In fourth place, with 5.8%, is QUICKEN LOANS, LLC, having originated $4,910,000 in loans. In fifth place, with 4.7%, is Midwest Bank, having originated $4,030,000 in loans.
Galesburg Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $104,550 (1.3%) | $137,069 (0.8%) | 0.00 | 218 |
2018-02-01 | $99,375 (-4.8%) | $134,147 (-0.8%) | 0.00 | 216 |
2018-03-01 | $105,000 (-5.0%) | $144,971 (2.5%) | 0.00 | 232 |
2018-04-01 | $112,950 (-1.7%) | $151,595 (-2.6%) | 0.00 | 243 |
2018-05-01 | $109,800 (-10.7%) | $145,199 (-12.1%) | 0.00 | 261 |
2018-06-01 | $110,700 (-12.5%) | $151,052 (-9.9%) | 0.00 | 282 |
2018-07-01 | $111,375 (-10.2%) | $148,758 (-9.9%) | 0.00 | 308 |
2018-08-01 | $99,250 (-20.6%) | $138,257 (-18.2%) | 0.00 | 329 |
2018-09-01 | $97,400 (-22.5%) | $131,576 (-22.0%) | 0.00 | 324 |
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 (-3.3%) | 0.00 | 198 |
2019-04-01 | $113,450 (0.4%) | $147,762 (-2.5%) | 0.00 | 187 |
2019-05-01 | $119,900 (9.2%) | $155,489 (7.1%) | 0.00 | 196 |
2019-06-01 | $112,900 (2.0%) | $152,152 (0.7%) | 0.00 | 214 |
2019-07-01 | $108,225 (-2.8%) | $155,451 (4.5%) | 0.00 | 220 |
2019-08-01 | $96,964 (-2.3%) | $155,664 (12.6%) | 0.00 | 224 |
2019-09-01 | $92,484 (-5.1%) | $157,573 (19.8%) | 0.00 | 233 |
2019-10-01 | $89,250 (-5.6%) | $158,846 (21.6%) | 0.00 | 238 |
2019-11-01 | $84,900 (-10.6%) | $151,056 (13.6%) | 0.00 | 241 |
2019-12-01 | $84,925 (-14.7%) | $151,227 (15.9%) | 0.00 | 221 |
2020-01-01 | $81,975 (-21.0%) | $147,254 (11.7%) | 0.00 | 197 |
2020-02-01 | $84,900 (-21.2%) | $151,073 (13.9%) | 0.00 | 178 |
2020-03-01 | $94,550 (-14.4%) | $159,932 (14.1%) | 0.00 | 182 |
2020-04-01 | $96,250 (-15.2%) | $138,955 (-6.0%) | 0.00 | 184 |
2020-05-01 | $101,900 (-15.0%) | $166,957 (7.4%) | 0.00 | 185 |
2020-06-01 | $104,225 (-7.7%) | $167,076 (9.8%) | 0.00 | 174 |
2020-07-01 | $109,450 (1.1%) | $171,686 (10.4%) | 0.00 | 167 |
2020-08-01 | $107,000 (10.4%) | $172,789 (11.0%) | 0.00 | 141 |
2020-09-01 | $96,950 (4.8%) | $165,100 (4.8%) | 0.00 | 131 |
2020-10-01 | $84,450 (-5.4%) | $160,105 (0.8%) | 0.00 | 122 |
2020-11-01 | $75,625 (-10.9%) | $141,649 (-6.2%) | 0.00 | 130 |
2020-12-01 | $75,875 (-10.7%) | $140,960 (-6.8%) | 0.00 | 107 |
2021-01-01 | $72,000 (-12.2%) | $113,415 (-23.0%) | 0.00 | 101 |
2021-02-01 | $79,900 (-5.9%) | $117,263 (-22.4%) | 0.00 | 97 |
2021-03-01 | $82,700 (-12.5%) | $130,077 (-18.7%) | 0.00 | 86 |
2021-04-01 | $87,900 (-8.7%) | $136,719 (-1.6%) | 0.00 | 71 |
2021-05-01 | $79,900 (-21.6%) | $133,530 (-20.0%) | 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 (-8.9%) | 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 | $96,200 (-3.7%) | $160,344 (1.2%) | 0.00 | 73 |
2022-08-01 | $94,450 (-19.6%) | $166,561 (5.9%) | 0.00 | 74 |
2022-09-01 | $99,575 (-23.4%) | $163,119 (-8.0%) | 0.00 | 78 |
2022-10-01 | $114,950 (3.7%) | $168,854 (-0.4%) | 0.00 | 82 |
2022-11-01 | $117,400 (14.9%) | $159,848 (9.3%) | 0.00 | 99 |
2022-12-01 | $115,000 (19.3%) | $166,887 (21.8%) | 0.00 | 89 |
2023-01-01 | $114,900 (23.2%) | $160,181 (22.4%) | 0.00 | 90 |
2023-02-01 | $125,300 (24.8%) | $173,602 (19.0%) | 0.00 | 82 |
2023-03-01 | $118,300 (19.5%) | $173,322 (15.9%) | 0.00 | 66 |
2023-04-01 | $143,500 (40.0%) | $198,608 (22.5%) | 0.00 | 60 |
2023-05-01 | $127,425 (28.5%) | $195,406 (23.4%) | 0.00 | 72 |
2023-06-01 | $127,950 (36.2%) | $203,371 (31.1%) | 0.00 | 79 |
2023-07-01 | $132,900 (38.2%) | $205,653 (28.3%) | 0.00 | 72 |
2023-08-01 | $125,175 (32.5%) | $203,185 (22.0%) | 0.00 | 80 |
2023-09-01 | $114,750 (15.2%) | $173,496 (6.4%) | 0.00 | 68 |
2023-10-01 | $110,500 (-3.9%) | $155,671 (-7.8%) | 0.00 | 79 |
2023-11-01 | $110,500 (-5.9%) | $148,117 (-7.3%) | 0.00 | 79 |
2023-12-01 | $112,450 (-2.2%) | $149,250 (-10.6%) | 0.00 | 74 |
2024-01-01 | $108,225 (-5.8%) | $148,685 (-7.2%) | 0.00 | 71 |
2024-02-01 | $94,950 (-24.2%) | $144,316 (-16.9%) | 0.00 | 68 |
2024-03-01 | $122,400 (3.5%) | $183,432 (5.8%) | 0.00 | 67 |
2024-04-01 | $143,475 (0.0%) | $205,836 (3.6%) | 0.00 | 72 |
2024-05-01 | $157,475 (23.6%) | $212,265 (8.6%) | 0.00 | 88 |
2024-06-01 | $155,000 (21.1%) | $212,543 (4.5%) | 0.00 | 93 |
2024-07-01 | $138,700 (4.4%) | $185,181 (-10.0%) | 0.00 | 101 |
2024-08-01 | $129,900 (3.8%) | $174,726 (-14.0%) | 0.00 | 91 |
2024-09-01 | $124,800 (8.8%) | $185,338 (6.8%) | 0.00 | 94 |
Galesburg's median listing price comes in at 0% of the national average.
Galesburg's average listing price for 2024-09-01 was $185,338, a difference of $11,842 (6.8%) versus the prior year and $10,612 versus the prior month.
For the 2024-09-01 period, Galesburg had 94 MLS listings, a difference of 3 listings (3%) versus the prior month and 26 listings (38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,521 sqft |
2018-04-01 | 0 days | 1,557 sqft |
2018-05-01 | 0 days | 1,517 sqft |
2018-06-01 | 0 days | 1,515 sqft |
2018-07-01 | 0 days | 1,522 sqft |
2018-08-01 | 0 days | 1,488 sqft |
2018-09-01 | 0 days | 1,488 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 | 1,588 sqft |
2019-05-01 | 0 days | 1,603 sqft |
2019-06-01 | 0 days | 1,664 sqft |
2019-07-01 | 0 days | 1,664 sqft |
2019-08-01 | 0 days | 1,591 sqft |
2019-09-01 | 0 days | 1,579 sqft |
2019-10-01 | 0 days | 1,571 sqft |
2019-11-01 | 0 days | 1,532 sqft |
2019-12-01 | 0 days | 1,524 sqft |
2020-01-01 | 0 days | 1,532 sqft |
2020-02-01 | 0 days | 1,536 sqft |
2020-03-01 | 0 days | 1,545 sqft |
2020-04-01 | 0 days | 1,539 sqft |
2020-05-01 | 0 days | 1,566 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 | 1,606 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 | 1,464 sqft |
2021-08-01 | 0 days | 1,586 sqft |
2021-09-01 | 0 days | 1,632 sqft |
2021-10-01 | 0 days | 1,473 sqft |
2021-11-01 | 0 days | 1,437 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 | 1,410 sqft |
2022-09-01 | 0 days | 1,349 sqft |
2022-10-01 | 0 days | 1,380 sqft |
2022-11-01 | 0 days | 1,411 sqft |
2022-12-01 | 0 days | 1,404 sqft |
2023-01-01 | 0 days | 1,398 sqft |
2023-02-01 | 0 days | 1,412 sqft |
2023-03-01 | 0 days | 1,429 sqft |
2023-04-01 | 0 days | 1,420 sqft |
2023-05-01 | 0 days | 1,448 sqft |
2023-06-01 | 0 days | 1,548 sqft |
2023-07-01 | 0 days | 1,637 sqft |
2023-08-01 | 0 days | 1,642 sqft |
2023-09-01 | 0 days | 1,602 sqft |
2023-10-01 | 0 days | 1,521 sqft |
2023-11-01 | 0 days | 1,389 sqft |
2023-12-01 | 0 days | 1,521 sqft |
2024-01-01 | 0 days | 1,450 sqft |
2024-02-01 | 0 days | 1,384 sqft |
2024-03-01 | 0 days | 1,466 sqft |
2024-04-01 | 0 days | 1,724 sqft |
2024-05-01 | 0 days | 1,862 sqft |
2024-06-01 | 0 days | 1,604 sqft |
2024-07-01 | 0 days | 1,542 sqft |
2024-08-01 | 0 days | 1,504 sqft |
2024-09-01 | 0 days | 1,568 sqft |
Galesburg's median square footage for active listings during the 2024-09-01 period was 1,568 sqft. One year prior, the average listing was 1,602 sqft.
Galesburg, IL Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 527 | $58,395,000 | $110,806 |
Refi | 105 | $16,315,000 | $155,381 |
Home Improvement | 79 | $3,295,000 | $41,709 |
Other | 73 | $2,975,000 | $40,753 |
Cash Out Refi | 41 | $4,315,000 | $105,244 |
Galesburg's most frequently cited loan purpose was Home Purchase, with 527 originations. The 2nd most popular reason was Refi, with 105 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
7-8% | 256 | $23,010,000 | $89,883 |
6-7% | 231 | $26,605,000 | $115,173 |
Over 8% | 118 | $5,690,000 | $48,220 |
5-6% | 93 | $19,755,000 | $212,419 |
<2.5% | 7 | $35,000 | $5,000 |
4-5% | 3 | $515,000 | $171,667 |
3-4% | 1 | $105,000 | $105,000 |
During 2023, Galesburg's most frequently originated rate bucket was 7-8%, with 256 originations.
Loan Sizing (Galesburg, IL MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 543 | $27,415,000 | $50,488 |
$100k-200k | 210 | $28,880,000 | $137,524 |
$200k-400k | 66 | $17,720,000 | $268,485 |
$400k-600k | 5 | $2,315,000 | $463,000 |
$Over $1MM | 1 | $8,965,000 | $8,965,000 |
Galesburg's loan sizing saw the bucket of loans from $100,000 or less with 543 originations, totaling $27,415,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 337 | $40,115,000 | $119,036 |
60-80% | 128 | $23,700,000 | $185,156 |
20-40% | 95 | $3,515,000 | $37,000 |
Under 20% | 64 | $1,880,000 | $29,375 |
40-60% | 49 | $5,055,000 | $103,163 |
Over 100% | 2 | $380,000 | $190,000 |
Galesburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 337 originations, totaling $40,115,000 in origination value.