Greenwood Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Greenwood averaged
6.12%
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
6.22% and
one month ago for the week of 2024-09-05, the
average rate was 6.55%.
Greenwood's average rate one year ago was 7.69%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.82%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Greenwood 30 Year Fixed Rate | 2024-10-10 | 6.12% |
| Greenwood 30 Year Fixed Rate Refi | 2024-10-10 | 6.82% |
| Greenwood 15 Year Fixed Rate | 2024-10-10 | 5.21% |
| Greenwood 15 Year Fixed Rate Refi | 2024-10-10 | 5.91% |
| Greenwood 30 Year FHA | 2024-10-10 | 6.1% |
| Greenwood 30 Year FHA Refi | 2024-10-10 | 6.2% |
| Greenwood 30 Year USDA | 2024-10-10 | 6.08% |
| Greenwood 30 Year USDA Refi | 2024-10-10 | 6.28% |
| Greenwood 30 Year VA | 2024-10-10 | 5.65% |
| Greenwood 30 Year VA Refi | 2024-10-10 | 6.05% |
Greenwood 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 Greenwood, MS 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 |
|---|---|---|---|
| BancorpSouth | 4 | 6.47% | $4,267 |
| Regions Bank | 3 | 6.79% | $3,690 |
| Trustmark National Bank | 3 | 6.83% | $3,581 |
| QUICKEN LOANS, LLC | 3 | 6.62% | $6,954 |
| AmeriHome Mortgage Company, LLC | 2 | 7.00% | $3,231 |
| CB&S Bank, Inc. | 1 | 6.75% | $4,042 |
| CORNERSTONE HOME LENDING, INC. | 1 | 7.50% | $3,316 |
| Deere Employees Credit Union | 1 | 6.63% | $3,896 |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | 1 | 6.99% | $4,166 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.63% | $4,982 |
| Magnolia Bank | 1 | 7.00% | $5,331 |
| MORTGAGE INVESTORS GROUP, INC. | 1 | 6.38% | $3,789 |
| Mortgage Research Center, LLC | 1 | 7.63% | $2,573 |
| OPEN MORTGAGE, LLC | 1 | 7.99% | $3,078 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 7.62% | $8,274 |
| UNION HOME MORTGAGE CORP. | 1 | 7.25% | $6,414 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.00% | $8,032 |
| ZILLOW HOME LOANS, LLC | 1 | 7.13% | $4,447 |
| AMERISAVE MORTGAGE CORPORATION | 1 | 6.88% | $5,341 |
| Bank of America | 1 | 7.38% | $3,531 |
| Bank of England | 1 | 7.50% | $5,976 |
| BankPlus | 1 | 6.50% | $2,900 |
Greenwood Average Closing Costs & Other Stats
Greenwood, MS's 22 lenders originated 259
loans during 2023. The total origination value was $37,115,000, with an average loan value of
$143,301.
Greenwood's average closing costs are $4,427.
The top Greenwood lender as defined by loan originations is BancorpSouth, with
4 loans originated. Their average total fees are
$4,267, which is $577
higher than the next largest lender,
Regions Bank.
The lowest fee Greenwood lenders (with over 10 loans originated) are
.
The lowest rate Greenwood lenders (with over 10 loans originated) are
.
Greenwood, MS 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 |
|---|---|---|---|---|
| Guaranty Bank and Trust Company | $1,100,000 | $7,190,000 | 553.6% | 19.4% |
| Planters Bank & Trust Company | $4,305,000 | $3,990,000 | -7.3% | 10.8% |
| Southern Bank | $3,475,000 | n/a | 9.4% | |
| BankPlus | $3,420,000 | $2,070,000 | -39.5% | 5.6% |
| Trustmark National Bank | $4,265,000 | $1,580,000 | -63.0% | 4.3% |
| CB&S Bank, Inc. | $760,000 | $1,435,000 | 88.8% | 3.9% |
| Regions Bank | $2,375,000 | $1,310,000 | -44.8% | 3.5% |
| QUICKEN LOANS, LLC | $2,785,000 | $1,170,000 | -58.0% | 3.2% |
| BancorpSouth | $1,095,000 | $1,095,000 | 0.0% | 3.0% |
| Renasant Bank | $2,635,000 | $930,000 | -64.7% | 2.5% |
| Mortgage Research Center, LLC | $1,025,000 | $840,000 | -18.0% | 2.3% |
| GMFS LLC | $4,065,000 | $705,000 | -82.7% | 1.9% |
| AmeriHome Mortgage Company, LLC | $865,000 | $690,000 | -20.2% | 1.9% |
| 21ST MORTGAGE CORPORATION | $460,000 | $680,000 | 47.8% | 1.8% |
| Southern Bancorp Bank | $135,000 | $670,000 | 396.3% | 1.8% |
| MICHIGAN MUTUAL, INC. | $710,000 | $635,000 | -10.6% | 1.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,555,000 | $515,000 | -66.9% | 1.4% |
| TRIAD FINANCIAL SERVICES, INC. | $475,000 | n/a | 1.3% | |
| NAVY FEDERAL CREDIT UNION | $460,000 | n/a | 1.2% | |
| UNION HOME MORTGAGE CORP. | $125,000 | $430,000 | 244.0% | 1.2% |
| The First, A National Banking Association | $360,000 | n/a | 1.0% | |
| Nations Lending Corporation | $335,000 | n/a | 0.9% | |
| Magnolia Bank | $310,000 | n/a | 0.8% | |
| ACADEMY MORTGAGE CORPORATION | $305,000 | n/a | 0.8% | |
| COMMUNITY MORTGAGE CORPORATION | $300,000 | n/a | 0.8% | |
| Deere Employees Credit Union | $300,000 | n/a | 0.8% | |
| Mr. Cooper ( Nationstar Mortgage ) | $485,000 | $265,000 | -45.4% | 0.7% |
| AMERISAVE MORTGAGE CORPORATION | $685,000 | $260,000 | -62.0% | 0.7% |
| Flagstar Bank, FSB | $375,000 | $260,000 | -30.7% | 0.7% |
| LOANDEPOT.COM, LLC | $410,000 | $250,000 | -39.0% | 0.7% |
| Bank of England | $240,000 | n/a | 0.6% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $125,000 | $240,000 | 92.0% | 0.6% |
| Mid-Continent Funding, Inc. | $235,000 | n/a | 0.6% | |
| Origin Bank | $585,000 | $235,000 | -59.8% | 0.6% |
| Paragon Bank | $225,000 | n/a | 0.6% | |
| CARDINAL FINANCIAL | $155,000 | $215,000 | 38.7% | 0.6% |
| OPEN MORTGAGE, LLC | $135,000 | $215,000 | 59.3% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $280,000 | $205,000 | -26.8% | 0.6% |
| CSL Financial, LLC | $165,000 | n/a | 0.4% | |
| Bank of America | $45,000 | $155,000 | 244.4% | 0.4% |
| ZILLOW HOME LOANS, LLC | $155,000 | n/a | 0.4% | |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | $145,000 | n/a | 0.4% | |
| Truist | $145,000 | n/a | 0.4% | |
| BROKER SOLUTIONS, INC. | $140,000 | n/a | 0.4% | |
| Liberty Bank and Trust Company | $115,000 | n/a | 0.3% | |
| SWBC MORTGAGE CORPORATION | $95,000 | n/a | 0.3% | |
| MORTGAGE INVESTORS GROUP, INC. | $505,000 | $85,000 | -83.2% | 0.2% |
| PriorityOne Bank | $885,000 | $85,000 | -90.4% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $85,000 | n/a | 0.2% | |
| Wells Fargo Bank | $125,000 | $85,000 | -32.0% | 0.2% |
| STOCKTON MORTGAGE CORPORATION | $75,000 | n/a | 0.2% | |
| CORNERSTONE HOME LENDING, INC. | $65,000 | n/a | 0.2% | |
| The Citizens Bank of Philadelphia, Mississippi | $45,000 | n/a | 0.1% | |
| b1BANK | $35,000 | n/a | 0.1% | |
| Coastal Community Bank | $25,000 | n/a | 0.1% | |
| First Citizens National Bank | $15,000 | n/a | 0.0% |
Greenwood's top lender by overall market share is Guaranty Bank and Trust Company, with 19.4% market share. In second place, with 10.8%, is Planters Bank & Trust Company, having originated $3,990,000 in loans. In third place, with 9.4%, is Southern Bank, having originated $3,475,000 in loans. In fourth place, with 5.6%, is BankPlus, having originated $2,070,000 in loans. In fifth place, with 4.3%, is Trustmark National Bank, having originated $1,580,000 in loans.
Greenwood, MS Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 143 | $27,305,000 | $190,944 |
| Refi | 75 | $6,605,000 | $88,067 |
| Other | 18 | $800,000 | $44,444 |
| Home Improvement | 13 | $865,000 | $66,538 |
| Cash Out Refi | 10 | $1,540,000 | $154,000 |
Greenwood's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Refi, with 75 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 82 | $6,760,000 | $82,439 |
| 6-7% | 65 | $11,655,000 | $179,308 |
| 7-8% | 50 | $6,760,000 | $135,200 |
| 5-6% | 20 | $2,920,000 | $146,000 |
| <2.5% | 13 | $285,000 | $21,923 |
| 4-5% | 1 | $205,000 | $205,000 |
| 3-4% | 1 | $85,000 | $85,000 |
During 2023, Greenwood's most frequently originated rate bucket was Over 8%, with 82 originations.
Loan Sizing (Greenwood, MS MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 130 | $6,340,000 | $48,769 |
| $100k-200k | 95 | $13,245,000 | $139,421 |
| $200k-400k | 30 | $7,840,000 | $261,333 |
| $400k-600k | 2 | $1,110,000 | $555,000 |
| $Over $1MM | 2 | $8,580,000 | $4,290,000 |
Greenwood's loan sizing saw the bucket of loans from $100,000 or less with 130 originations, totaling $6,340,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 100 | $18,070,000 | $180,700 |
| 60-80% | 51 | $5,855,000 | $114,804 |
| 20-40% | 25 | $1,325,000 | $53,000 |
| Under 20% | 25 | $565,000 | $22,600 |
| 40-60% | 24 | $1,920,000 | $80,000 |
| Over 100% | 5 | $765,000 | $153,000 |
Greenwood's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 100 originations, totaling $18,070,000 in origination value.