Grenada Mortgage Rates

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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 Grenada averaged 5.94% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

    The average rate for the prior week (2022-06-23) was 6.05% and one month ago for the week of 2022-05-26, the average rate was 5.54%.

    Grenada's average rate one year ago was 3.38%.

    For refis of the same type during the week of 2022-06-30, the average rate was 6.17%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-30 5.7%
    Grenada 30 Year Fixed Rate 2022-06-30 5.94%
    Grenada 30 Year Fixed Rate Refi 2022-06-30 6.17%
    Grenada 15 Year Fixed Rate 2022-06-30 6.88%
    Grenada 15 Year Fixed Rate Refi 2022-06-30 5.51%
    Grenada 30 Year FHA 2022-06-30 5.72%
    Grenada 30 Year FHA Refi 2022-06-30 5.36%
    Grenada 30 Year USDA 2022-06-30 5.91%
    Grenada 30 Year USDA Refi 2022-06-30 5.1%
    Grenada 30 Year VA 2022-06-30 5.63%
    Grenada 30 Year VA Refi 2022-06-30 5.36%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Grenada, MS.

    Grenada Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Grenada, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Renasant Bank 23 3.31% $2,978
    BancorpSouth Bank 19 3.24% $3,161
    Regions Bank 15 3.18% $2,567
    QUICKEN LOANS, LLC 14 3.21% $4,050
    BankPlus 6 2.92% $2,457
    LOANDEPOT.COM, LLC 4 3.22% $5,984
    Wells Fargo Bank 3 3.38% $2,260
    AMERISAVE MORTGAGE CORPORATION 2 3.13% $4,183
    CRESCENT MORTGAGE COMPANY 2 2.81% $4,918
    GMFS LLC 2 2.81% $4,716
    Origin Bank 2 3.69% $3,560
    Wyndham Capital Mortgage, Inc. 2 3.13% $4,530
    MORTGAGE INVESTORS GROUP, INC. 1 3.25% $3,105
    Mr. Cooper ( Nationstar Mortgage ) 1 3.13% $4,535
    Nations Lending Corporation 1 3.13% $8,675
    North American Savings Bank, F.S.B. 1 2.88% $1,504
    Wolfe Financial, Inc 1 3.25% $6,302
    FIRST COMMUNITY MORTGAGE, INC. 1 3.50% $2,597
    CHURCHILL MORTGAGE CORPORATION 1 3.13% $4,534
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $3,890
    RIVERTRUST Federal Credit Union 1 3.00% $2,232
    ROYAL UNITED MORTGAGE LLC 1 3.50% $7,355
    Flagstar Bank, FSB 1 3.25% $2,961
    BETTER MORTGAGE CORPORATION 1 2.75% $3,892
    First Horizon Bank 1 3.25% $4,489

    Grenada, MS's 25 lenders originated 492 loans during 2021. The total origination value was $69,050,000, with an average loan value of $140,346.

    The top Grenada lender as defined by loan originations is Renasant Bank, with 23 loans originated. Their average total fees are $2,978, which is $183 lower than the next largest lender, BancorpSouth Bank.

    The lowest fee Grenada lenders (with over 10 loans originated) are Regions Bank ($2,567), Renasant Bank ($2,978), BancorpSouth Bank ($3,161), QUICKEN LOANS, LLC ($4,050) and .

    The lowest rate Grenada lenders (with over 10 loans originated) are Regions Bank (3.18%), QUICKEN LOANS, LLC (3.21%), BancorpSouth Bank (3.24%), Renasant Bank (3.31%) and .

    Grenada, MS Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    Renasant Bank $12,600,000 $13,305,000 5.6% 19.3%
    BancorpSouth Bank $8,205,000 $10,655,000 29.9% 15.4%
    Regions Bank $15,800,000 $9,575,000 -39.4% 13.9%
    QUICKEN LOANS, LLC $2,695,000 $5,935,000 120.2% 8.6%
    BankPlus $340,000 $5,470,000 1,508.8% 7.9%
    Guaranty Bank and Trust Company $1,110,000 $2,175,000 95.9% 3.1%
    Mortgage Research Center, LLC $280,000 $1,545,000 451.8% 2.2%
    CRESCENT MORTGAGE COMPANY $1,040,000 $1,325,000 27.4% 1.9%
    Flagstar Bank, FSB $850,000 $1,160,000 36.5% 1.7%
    AMERISAVE MORTGAGE CORPORATION $250,000 $880,000 252.0% 1.3%
    FREEDOM MORTGAGE CORPORATION $965,000 $860,000 -10.9% 1.2%
    Nations Lending Corporation $810,000 n/a 1.2%
    21ST MORTGAGE CORPORATION $530,000 $720,000 35.8% 1.0%
    PENNYMAC LOAN SERVICES, LLC $710,000 n/a 1.0%
    BETTER MORTGAGE CORPORATION $690,000 n/a 1.0%
    ACADEMY MORTGAGE CORPORATION $510,000 $645,000 26.5% 0.9%
    LOANDEPOT.COM, LLC $765,000 $610,000 -20.3% 0.9%
    Wells Fargo Bank $590,000 n/a 0.9%
    GMFS LLC $550,000 n/a 0.8%
    First Horizon Bank $525,000 n/a 0.8%
    Planters Bank & Trust Company $335,000 $515,000 53.7% 0.7%
    MUTUAL OF OMAHA MORTGAGE, INC. $585,000 $490,000 -16.2% 0.7%
    AMERICAN PACIFIC MORTGAGE CORPORATION $480,000 n/a 0.7%
    FirstBank $475,000 n/a 0.7%
    Community Bank of Mississippi $50,000 $445,000 790.0% 0.6%
    Trustmark National Bank $440,000 $390,000 -11.4% 0.6%
    CHURCHILL MORTGAGE CORPORATION $340,000 n/a 0.5%
    NEWREZ LLC $55,000 $330,000 500.0% 0.5%
    EVERETT FINANCIAL, INC. $310,000 n/a 0.4%
    Wyndham Capital Mortgage, Inc. $310,000 n/a 0.4%
    USAA Federal Savings Bank $265,000 $300,000 13.2% 0.4%
    AMERICAN FINANCIAL NETWORK, INC. $290,000 n/a 0.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $155,000 $280,000 80.6% 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $920,000 $265,000 -71.2% 0.4%
    Origin Bank $255,000 $260,000 2.0% 0.4%
    Carrington Mortgage Services, LLC $400,000 $255,000 -36.3% 0.4%
    MOVEMENT MORTGAGE, LLC $245,000 n/a 0.4%
    OPEN MORTGAGE, LLC $235,000 n/a 0.3%
    BankFirst Financial Services $105,000 $225,000 114.3% 0.3%
    BROKER SOLUTIONS, INC. $205,000 n/a 0.3%
    MORTGAGE INVESTORS GROUP, INC. $205,000 n/a 0.3%
    North American Savings Bank, F.S.B. $205,000 n/a 0.3%
    Reliant Bank $110,000 $195,000 77.3% 0.3%
    Wolfe Financial, Inc $195,000 n/a 0.3%
    Armed Forces Bank $185,000 n/a 0.3%
    PriorityOne Bank $215,000 $175,000 -18.6% 0.3%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $170,000 n/a 0.2%
    Magnolia Bank $165,000 n/a 0.2%
    RIVERTRUST Federal Credit Union $165,000 n/a 0.2%
    TRIAD FINANCIAL SERVICES, INC. $150,000 $165,000 10.0% 0.2%
    Sycamore Bank $170,000 $160,000 -5.9% 0.2%
    First Commercial Bank $155,000 n/a 0.2%
    FIRST COMMUNITY MORTGAGE, INC. $155,000 n/a 0.2%
    Northpointe Bank $610,000 $145,000 -76.2% 0.2%
    AMERICAN HOME LENDING USA, LLC $135,000 n/a 0.2%
    JPMorgan Chase Bank $115,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $105,000 $115,000 9.5% 0.2%
    CALIBER HOME LOANS, INC. $105,000 n/a 0.2%
    NEW DAY FINANCIAL, LLC $970,000 $105,000 -89.2% 0.2%
    CMG MORTGAGE, INC. $95,000 n/a 0.1%
    First Guaranty Mortgage Corporation $115,000 $95,000 -17.4% 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $95,000 n/a 0.1%
    Barrington Bank & Trust Company, N.A. $200,000 $85,000 -57.5% 0.1%
    NAVY FEDERAL CREDIT UNION $85,000 $85,000 0.0% 0.1%
    CSL Financial, LLC $75,000 n/a 0.1%
    VILLAGE CAPITAL & INVESTMENT LLC $360,000 $75,000 -79.2% 0.1%
    1st Franklin Financial Corporation $15,000 $25,000 66.7% 0.0%
    AMERICAN ADVISORS GROUP $5,000 $25,000 400.0% 0.0%

    Grenada's top lender by overall market share is Renasant Bank, with 19.3% market share. In second place, with 15.4%, is BancorpSouth Bank, having originated $10,655,000 in loans. In third place, with 13.9%, is Regions Bank, having originated $9,575,000 in loans. In third place, with 8.6%, is QUICKEN LOANS, LLC, having originated $5,935,000 in loans. In third place, with 7.9%, is BankPlus, having originated $5,470,000 in loans.

    Grenada, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 214 $32,200,000 $150,467
    Refi 165 $24,635,000 $149,303
    Cash Out Refi 71 $9,475,000 $133,451
    Other 22 $1,550,000 $70,455
    Home Improvement 20 $1,190,000 $59,500

    Grenada's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Refi, with 165 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 190 $25,450,000 $133,947
    2.5-3% 132 $21,820,000 $165,303
    <2.5% 65 $9,995,000 $153,769
    4-5% 45 $4,705,000 $104,556
    5-6% 22 $2,720,000 $123,636
    Over 8% 12 $900,000 $75,000
    6-7% 6 $560,000 $93,333
    7-8% 6 $410,000 $68,333

    During 2021, Grenada's most frequently originated rate bucket was 3-4%, with 190 originations.

    Loan Sizing (Grenada, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 194 $11,600,000 $59,794
    $100k-200k 194 $27,550,000 $142,010
    $200k-400k 96 $25,250,000 $263,021
    $400k-600k 6 $2,960,000 $493,333
    $600k-1000k 1 $685,000 $685,000
    $Over $1MM 1 $1,005,000 $1,005,000

    Grenada's loan sizing saw the bucket of loans from $100,000 or less with 194 originations, totaling $11,600,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 208 $32,330,000 $155,433
    60-80% 148 $22,950,000 $155,068
    40-60% 53 $6,155,000 $116,132
    20-40% 35 $2,225,000 $63,571
    Under 20% 23 $575,000 $25,000
    Over 100% 5 $1,195,000 $239,000

    Grenada's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 208 originations, totaling $32,330,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Grenada (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 $119,900 (-0.1%) $185,418 (15.1%) 0.00 70
    2018-02-01 $131,750 (5.4%) $189,369 (4.5%) 0.00 66
    2018-03-01 $134,500 (9.8%) $186,755 (0.0%) 0.00 66
    2018-04-01 $134,500 (24.5%) $199,475 (6.4%) 0.00 64
    2018-05-01 $134,500 (25.1%) $201,645 (2.6%) 0.00 70
    2018-06-01 $130,000 (8.8%) $190,186 (-5.9%) 0.00 68
    2018-07-01 $129,250 (-13.8%) $173,913 (-15.6%) 0.00 69
    2018-08-01 $127,000 (-12.3%) $175,834 (-17.1%) 0.00 68
    2018-09-01 $125,500 (9.2%) $171,592 (-16.9%) 0.00 72
    2018-10-01 $125,250 (9.4%) $168,741 (-12.3%) 0.00 73
    2018-11-01 $136,700 (33.4%) $174,818 (-1.6%) 0.00 71
    2018-12-01 $119,500 (-0.3%) $181,230 (-0.6%) 0.00 72
    2019-01-01 $126,750 (5.7%) $196,545 (6.0%) 0.00 65
    2019-02-01 $120,000 (-8.9%) $183,977 (-2.9%) 0.00 61
    2019-03-01 $124,114 (-7.7%) $186,246 (-0.3%) 0.00 60
    2019-04-01 $128,914 (-4.2%) $191,672 (-3.9%) 0.00 59
    2019-05-01 $137,450 (2.2%) $212,016 (5.1%) 0.00 48
    2019-06-01 $129,900 (-0.1%) $204,500 (7.5%) 0.00 54
    2019-07-01 $147,000 (13.7%) $227,884 (31.0%) 0.00 50
    2019-08-01 $145,671 (14.7%) $241,633 (37.4%) 0.00 50
    2019-09-01 $134,900 (7.5%) $242,159 (41.1%) 0.00 48
    2019-10-01 $139,450 (11.3%) $244,856 (45.1%) 0.00 46
    2019-11-01 $139,000 (1.7%) $317,512 (81.6%) 0.00 47
    2019-12-01 $132,500 (10.9%) $314,489 (73.5%) 0.00 43
    2020-01-01 $135,750 (7.1%) $303,455 (54.4%) 0.00 42
    2020-02-01 $139,000 (15.8%) $348,395 (89.4%) 0.00 34
    2020-03-01 $207,750 (67.4%) $367,555 (97.4%) 0.00 30
    2020-04-01 $159,000 (23.3%) $329,952 (72.1%) 0.00 34
    2020-05-01 $159,000 (15.7%) $355,018 (67.5%) 0.00 33
    2020-06-01 $113,500 (-12.6%) $331,495 (62.1%) 0.00 31
    2020-07-01 $98,750 (-32.8%) $310,175 (36.1%) 0.00 34
    2020-08-01 $98,500 (-32.4%) $297,249 (23.0%) 0.00 35
    2020-09-01 $138,000 (2.3%) $313,036 (29.3%) 0.00 32
    2020-10-01 $139,500 (0.0%) $295,870 (20.8%) 0.00 37
    2020-11-01 $187,250 (34.7%) $261,210 (-17.7%) 0.00 37
    2020-12-01 $137,200 (3.6%) $202,708 (-35.5%) 0.00 41
    2021-01-01 $130,000 (-4.2%) $197,767 (-34.8%) 0.00 42
    2021-02-01 $118,000 (-15.1%) $154,977 (-55.5%) 0.00 35
    2021-03-01 $118,000 (-43.2%) $149,000 (-59.5%) 0.00 30
    2021-04-01 $149,450 (-6.0%) $203,776 (-38.2%) 0.00 20
    2021-05-01 $214,000 (34.6%) $237,505 (-33.1%) 0.00 17
    2021-06-01 $229,500 (102.2%) $284,474 (-14.2%) 0.00 12
    2021-07-01 $197,250 (99.8%) $285,556 (-7.9%) 0.00 16
    2021-08-01 $184,500 (87.3%) $285,427 (-4.0%) 0.00 20
    2021-09-01 $214,000 (55.1%) $326,046 (4.2%) 0.00 24
    2021-10-01 $235,000 (68.5%) $378,654 (28.0%) 0.00 21
    2021-11-01 $229,000 (22.3%) $362,941 (39.0%) 0.00 17
    2021-12-01 $136,250 (-0.7%) $293,407 (44.7%) 0.00 15
    2022-01-01 $150,000 (15.4%) $276,928 (40.0%) 0.00 19
    2022-02-01 $150,000 (27.1%) $263,175 (69.8%) 0.00 22
    2022-03-01 $139,250 (18.0%) $259,166 (73.9%) 0.00 22
    2022-04-01 $119,900 (-19.8%) $270,157 (32.6%) 0.00 21
    2022-05-01 $152,000 (-29.0%) $308,161 (29.8%) 0.00 28
    2022-06-01 $174,500 (-24.0%) $300,931 (5.8%) 0.00 32
    Grenada's median listing price for 2022-06-01 was $174,500, a difference of $-55,000 (-24.0%) versus the prior year and $22,500 versus the prior month.

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

    Grenada's average listing price for 2022-06-01 was $300,931, a difference of $16,457 (5.8%) versus the prior year and $-7,230 versus the prior month.

    For the 2022-06-01 period, Grenada had 32 MLS listings, a difference of 4 listings (14%) versus the prior month and 20 listings (167%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grenada (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,458 sqft
    2018-02-01 0 days 2,687 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 5,612 sqft
    2018-05-01 0 days 5,612 sqft
    2018-06-01 0 days 3,146 sqft
    2018-07-01 0 days 1,759 sqft
    2018-08-01 0 days 1,669 sqft
    2018-09-01 0 days 1,669 sqft
    2018-10-01 0 days 1,759 sqft
    2018-11-01 0 days 1,759 sqft
    2018-12-01 0 days 1,669 sqft
    2019-01-01 0 days 1,907 sqft
    2019-02-01 0 days 2,054 sqft
    2019-03-01 0 days 2,023 sqft
    2019-04-01 0 days 1,987 sqft
    2019-05-01 0 days 1,957 sqft
    2019-06-01 0 days 1,933 sqft
    2019-07-01 0 days 2,218 sqft
    2019-08-01 0 days 2,320 sqft
    2019-09-01 0 days 2,287 sqft
    2019-10-01 0 days 2,220 sqft
    2019-11-01 0 days 2,200 sqft
    2019-12-01 0 days 1,933 sqft
    2020-01-01 0 days 1,874 sqft
    2020-02-01 0 days 2,204 sqft
    2020-03-01 0 days 2,305 sqft
    2020-04-01 0 days 2,040 sqft
    2020-05-01 0 days 2,099 sqft
    2020-06-01 0 days 1,836 sqft
    2020-07-01 0 days 1,821 sqft
    2020-08-01 0 days 1,500 sqft
    2020-09-01 0 days 1,874 sqft
    2020-10-01 0 days 1,874 sqft
    2020-11-01 0 days 2,052 sqft
    2020-12-01 0 days 1,926 sqft
    2021-01-01 0 days 1,874 sqft
    2021-02-01 0 days 1,806 sqft
    2021-03-01 0 days 1,850 sqft
    2021-04-01 0 days 1,997 sqft
    2021-05-01 0 days 2,030 sqft
    2021-06-01 0 days 2,112 sqft
    2021-07-01 0 days 2,056 sqft
    2021-08-01 0 days 1,966 sqft
    2021-09-01 0 days 2,084 sqft
    2021-10-01 0 days 2,196 sqft
    2021-11-01 0 days 2,106 sqft
    2021-12-01 0 days 1,729 sqft
    2022-01-01 0 days 1,840 sqft
    2022-02-01 0 days 1,682 sqft
    2022-03-01 0 days 1,595 sqft
    2022-04-01 0 days 1,508 sqft
    2022-05-01 0 days 1,774 sqft
    2022-06-01 0 days 1,677 sqft
    Grenada's median listing age (time on market) for 2022-06-01 was 0 days.

    Grenada's median square footage for active listings during the 2022-06-01 period was 1,677 sqft. One year prior, the average listing was 2,112 sqft.