Grenada 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 Grenada averaged 6.86% 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 6.89% and one month ago for the week of 2023-02-09, the average rate was 6.48%.

    Grenada's average rate one year ago was 3.55%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.78%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Grenada 30 Year Fixed Rate 2023-03-16 6.86%
    Grenada 30 Year Fixed Rate Refi 2023-03-16 6.78%
    Grenada 15 Year Fixed Rate 2023-03-16 6.62%
    Grenada 15 Year Fixed Rate Refi 2023-03-16 6.25%
    Grenada 30 Year FHA 2023-03-16 6.46%
    Grenada 30 Year FHA Refi 2023-03-16 6.19%
    Grenada 30 Year USDA 2023-03-16 6.34%
    Grenada 30 Year USDA Refi 2023-03-16 6.49%
    Grenada 30 Year VA 2023-03-16 6.51%
    Grenada 30 Year VA Refi 2023-03-16 5.58%
    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 lender, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    BancorpSouth Bank 12 5.23% $4,040
    Renasant Bank 11 4.56% $4,207
    Regions Bank 7 5.93% $5,063
    QUICKEN LOANS, LLC 5 5.37% $5,313
    Flagstar Bank, FSB 4 5.17% $5,969
    BankPlus 2 5.56% $3,573
    CB&S Bank, Inc. 2 4.50% $3,006
    21ST MORTGAGE CORPORATION 2 6.15% $5,470
    NAVY FEDERAL CREDIT UNION 1 6.50% $3,450
    Northpointe Bank 1 2.88% $6,436
    RIVERTRUST Federal Credit Union 1 3.75% $3,734
    Vibrant Credit Union 1 4.38% $2,412
    ACADEMY MORTGAGE CORPORATION 1 5.59% $5,358
    Ally Bank 1 3.38% $2,040
    ATLANTA POSTAL 1 4.50% $5,199
    Colonial Savings, F.A. 1 5.88% $7,651
    GMFS LLC 1 5.63% $485
    LOANDEPOT.COM, LLC 1 2.99% $5,520
    Nations Lending Corporation 1 2.75% $1,721

    Grenada Average Closing Costs & Other Stats

    Grenada, MS's 19 lenders originated 373 loans during 2022. The total origination value was $51,715,000, with an average loan value of $138,646.

    Grenada's average closing costs are $4,038.

    The top Grenada lender as defined by loan originations is BancorpSouth Bank, with 12 loans originated. Their average total fees are $4,040, which is $168 lower than the next largest lender, Renasant Bank.

    The lowest fee Grenada lenders (with over 10 loans originated) are BancorpSouth Bank ($4,040), Renasant Bank ($4,207), .

    The lowest rate Grenada lenders (with over 10 loans originated) are Renasant Bank (4.56%), BancorpSouth Bank (5.23%), .

    Grenada, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Renasant Bank $13,305,000 $9,690,000 -27.2% 18.7%
    BancorpSouth Bank $10,655,000 $7,090,000 -33.5% 13.7%
    BankPlus $5,470,000 $5,380,000 -1.6% 10.4%
    Regions Bank $9,575,000 $4,915,000 -48.7% 9.5%
    Flagstar Bank, FSB $1,160,000 $3,805,000 228.0% 7.4%
    Guaranty Bank and Trust Company $2,175,000 $2,460,000 13.1% 4.8%
    QUICKEN LOANS, LLC $5,935,000 $2,140,000 -63.9% 4.1%
    Nations Lending Corporation $810,000 $1,300,000 60.5% 2.5%
    Mortgage Research Center, LLC $1,545,000 $1,200,000 -22.3% 2.3%
    ACADEMY MORTGAGE CORPORATION $645,000 $1,080,000 67.4% 2.1%
    TRIAD FINANCIAL SERVICES, INC. $165,000 $795,000 381.8% 1.5%
    LOANDEPOT.COM, LLC $610,000 $760,000 24.6% 1.5%
    BETTER MORTGAGE CORPORATION $690,000 $645,000 -6.5% 1.2%
    EVERETT FINANCIAL, INC. $310,000 $615,000 98.4% 1.2%
    21ST MORTGAGE CORPORATION $720,000 $535,000 -25.7% 1.0%
    NEW DAY FINANCIAL, LLC $105,000 $510,000 385.7% 1.0%
    GMFS LLC $550,000 $465,000 -15.5% 0.9%
    Eagle Bank and Trust Company $435,000 n/a 0.8%
    CB&S Bank, Inc. $390,000 n/a 0.8%
    AMERISAVE MORTGAGE CORPORATION $880,000 $350,000 -60.2% 0.7%
    Northpointe Bank $145,000 $335,000 131.0% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $265,000 $330,000 24.5% 0.6%
    Colonial Savings, F.A. $325,000 n/a 0.6%
    ATLANTA POSTAL $315,000 n/a 0.6%
    CSL Financial, LLC $75,000 $305,000 306.7% 0.6%
    Bank of England $285,000 n/a 0.6%
    CALIBER HOME LOANS, INC. $105,000 $285,000 171.4% 0.6%
    COMMUNITY MORTGAGE CORPORATION $275,000 n/a 0.5%
    PENNYMAC LOAN SERVICES, LLC $710,000 $255,000 -64.1% 0.5%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $250,000 n/a 0.5%
    USAA Federal Savings Bank $300,000 $250,000 -16.7% 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $280,000 $245,000 -12.5% 0.5%
    Trustmark National Bank $390,000 $230,000 -41.0% 0.4%
    Carrington Mortgage Services, LLC $255,000 $225,000 -11.8% 0.4%
    PREMIA MORTGAGE, LLC $215,000 n/a 0.4%
    First Guaranty Mortgage Corporation $95,000 $205,000 115.8% 0.4%
    Ally Bank $195,000 n/a 0.4%
    CORNERSTONE HOME LENDING, INC. $195,000 n/a 0.4%
    Independent Bank $195,000 n/a 0.4%
    PriorityOne Bank $175,000 $195,000 11.4% 0.4%
    FirstTrust Home Loans, Inc. $185,000 n/a 0.4%
    Peoples Bank $185,000 n/a 0.4%
    COUNTRYPLACE MORTGAGE, LTD. $165,000 n/a 0.3%
    NUMARK CREDIT UNION $155,000 n/a 0.3%
    The First, A National Banking Association $155,000 n/a 0.3%
    UNITED WHOLESALE MORTGAGE, LLC $155,000 n/a 0.3%
    Austin Capital Bank SSB $135,000 n/a 0.3%
    Leaders Credit Union $125,000 n/a 0.2%
    RIVERTRUST Federal Credit Union $165,000 $125,000 -24.2% 0.2%
    CRESCENT MORTGAGE COMPANY $1,325,000 $115,000 -91.3% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $115,000 n/a 0.2%
    Planters Bank & Trust Company $515,000 $115,000 -77.7% 0.2%
    NAVY FEDERAL CREDIT UNION $85,000 $95,000 11.8% 0.2%
    Vibrant Credit Union $75,000 n/a 0.1%
    FirstBank $475,000 $65,000 -86.3% 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $95,000 $55,000 -42.1% 0.1%
    Community Bank of Mississippi $445,000 $25,000 -94.4% 0.0%

    Grenada's top lender by overall market share is Renasant Bank, with 18.7% market share. In second place, with 13.7%, is BancorpSouth Bank, having originated $7,090,000 in loans. In third place, with 10.4%, is BankPlus, having originated $5,380,000 in loans. In fourth place, with 9.5%, is Regions Bank, having originated $4,915,000 in loans. In fifth place, with 7.4%, is Flagstar Bank, FSB, having originated $3,805,000 in loans.

    Grenada Housing Market Trends (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 $126,725 (3.5%) $188,027 (14.9%) 0.00 69
    2018-02-01 $134,500 (7.6%) $192,280 (-0.9%) 0.00 64
    2018-03-01 $134,500 (17.2%) $188,057 (-4.9%) 0.00 65
    2018-04-01 $134,500 (24.5%) $196,755 (-1.7%) 0.00 64
    2018-05-01 $134,500 (25.1%) $200,433 (-4.3%) 0.00 70
    2018-06-01 $130,000 (-6.8%) $190,186 (-11.4%) 0.00 67
    2018-07-01 $134,975 (-10.0%) $177,354 (-18.2%) 0.00 67
    2018-08-01 $127,750 (-14.4%) $180,197 (-19.3%) 0.00 64
    2018-09-01 $128,500 (4.3%) $175,542 (-19.6%) 0.00 66
    2018-10-01 $125,375 (7.9%) $171,224 (-11.9%) 0.00 68
    2018-11-01 $137,750 (32.8%) $178,981 (0.3%) 0.00 67
    2018-12-01 $128,500 (7.2%) $187,282 (1.9%) 0.00 67
    2019-01-01 $125,250 (-1.2%) $198,618 (5.6%) 0.00 62
    2019-02-01 $119,875 (-10.9%) $185,462 (-3.6%) 0.00 62
    2019-03-01 $122,986 (-8.6%) $187,109 (-0.5%) 0.00 61
    2019-04-01 $126,761 (-5.8%) $191,667 (-2.6%) 0.00 61
    2019-05-01 $137,450 (2.2%) $212,057 (5.8%) 0.00 48
    2019-06-01 $134,450 (3.4%) $205,730 (8.2%) 0.00 53
    2019-07-01 $146,500 (8.5%) $226,876 (27.9%) 0.00 51
    2019-08-01 $147,245 (15.3%) $240,014 (33.2%) 0.00 49
    2019-09-01 $143,114 (11.4%) $246,644 (40.5%) 0.00 48
    2019-10-01 $140,359 (12.0%) $253,031 (47.8%) 0.00 46
    2019-11-01 $139,450 (1.2%) $323,384 (80.7%) 0.00 46
    2019-12-01 $134,125 (4.4%) $321,064 (71.4%) 0.00 42
    2020-01-01 $134,125 (7.1%) $310,347 (56.3%) 0.00 41
    2020-02-01 $139,000 (16.0%) $348,395 (87.9%) 0.00 34
    2020-03-01 $207,750 (68.9%) $367,555 (96.4%) 0.00 30
    2020-04-01 $149,225 (17.7%) $329,952 (72.2%) 0.00 35
    2020-05-01 $169,450 (23.3%) $359,712 (69.6%) 0.00 33
    2020-06-01 $106,250 (-21.0%) $331,495 (61.1%) 0.00 31
    2020-07-01 $97,375 (-33.5%) $310,175 (36.7%) 0.00 35
    2020-08-01 $98,500 (-33.1%) $297,249 (23.9%) 0.00 35
    2020-09-01 $138,000 (-3.6%) $313,036 (26.9%) 0.00 32
    2020-10-01 $131,750 (-6.1%) $297,978 (17.8%) 0.00 36
    2020-11-01 $175,375 (25.8%) $263,770 (-18.4%) 0.00 36
    2020-12-01 $157,000 (17.1%) $213,017 (-33.7%) 0.00 38
    2021-01-01 $130,000 (-3.1%) $205,227 (-33.9%) 0.00 38
    2021-02-01 $123,250 (-11.3%) $160,872 (-53.8%) 0.00 32
    2021-03-01 $123,500 (-40.6%) $156,836 (-57.3%) 0.00 27
    2021-04-01 $154,725 (3.7%) $209,984 (-36.4%) 0.00 21
    2021-05-01 $214,000 (26.3%) $245,055 (-31.9%) 0.00 17
    2021-06-01 $229,500 (116.0%) $294,464 (-11.2%) 0.00 12
    2021-07-01 $194,500 (99.7%) $293,070 (-5.5%) 0.00 16
    2021-08-01 $174,250 (76.9%) $285,388 (-4.0%) 0.00 20
    2021-09-01 $202,500 (46.7%) $312,098 (-0.3%) 0.00 24
    2021-10-01 $229,000 (73.8%) $372,002 (24.8%) 0.00 20
    2021-11-01 $226,750 (29.3%) $368,079 (39.6%) 0.00 17
    2021-12-01 $133,975 (-14.7%) $306,178 (43.7%) 0.00 16
    2022-01-01 $149,250 (14.8%) $271,368 (32.2%) 0.00 19
    2022-02-01 $166,250 (34.9%) $272,988 (69.7%) 0.00 22
    2022-03-01 $151,250 (22.5%) $274,503 (75.0%) 0.00 21
    2022-04-01 $128,500 (-17.0%) $291,621 (38.9%) 0.00 19
    2022-05-01 $148,000 (-30.8%) $305,470 (24.7%) 0.00 26
    2022-06-01 $164,125 (-28.5%) $293,885 (-0.2%) 0.00 31
    2022-07-01 $155,000 (-20.3%) $292,393 (-0.2%) 0.00 30
    2022-08-01 $183,000 (5.0%) $279,758 (-2.0%) 0.00 33
    2022-09-01 $167,500 (-17.3%) $291,752 (-6.5%) 0.00 26
    2022-10-01 $178,500 (-22.1%) $244,156 (-34.4%) 0.00 34
    2022-11-01 $167,250 (-26.2%) $227,852 (-38.1%) 0.00 34
    2022-12-01 $149,000 (11.2%) $205,670 (-32.8%) 0.00 33
    2023-01-01 $149,450 (0.1%) $202,917 (-25.2%) 0.00 33
    2023-02-01 $147,625 (-11.2%) $187,614 (-31.3%) 0.00 36
    Grenada's median listing price for 2023-02-01 was $147,625, a difference of $-18,625 (-11.2%) versus the prior year and $-1,825 versus the prior month.

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

    Grenada's average listing price for 2023-02-01 was $187,614, a difference of $-85,374 (-31.3%) versus the prior year and $-15,303 versus the prior month.

    For the 2023-02-01 period, Grenada had 36 MLS listings, a difference of 3 listings (9%) versus the prior month and 14 listings (64%) 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 2,357 sqft
    2018-02-01 0 days 2,524 sqft
    2018-03-01 0 days 2,091 sqft
    2018-04-01 0 days 2,524 sqft
    2018-05-01 0 days 2,199 sqft
    2018-06-01 0 days 2,108 sqft
    2018-07-01 0 days 1,926 sqft
    2018-08-01 0 days 1,759 sqft
    2018-09-01 0 days 1,748 sqft
    2018-10-01 0 days 1,815 sqft
    2018-11-01 0 days 2,018 sqft
    2018-12-01 0 days 2,018 sqft
    2019-01-01 0 days 2,092 sqft
    2019-02-01 0 days 2,092 sqft
    2019-03-01 0 days 2,018 sqft
    2019-04-01 0 days 1,944 sqft
    2019-05-01 0 days 1,957 sqft
    2019-06-01 0 days 1,913 sqft
    2019-07-01 0 days 2,214 sqft
    2019-08-01 0 days 2,275 sqft
    2019-09-01 0 days 2,235 sqft
    2019-10-01 0 days 2,208 sqft
    2019-11-01 0 days 2,200 sqft
    2019-12-01 0 days 1,934 sqft
    2020-01-01 0 days 1,889 sqft
    2020-02-01 0 days 2,092 sqft
    2020-03-01 0 days 2,305 sqft
    2020-04-01 0 days 1,992 sqft
    2020-05-01 0 days 2,040 sqft
    2020-06-01 0 days 1,788 sqft
    2020-07-01 0 days 1,773 sqft
    2020-08-01 0 days 1,500 sqft
    2020-09-01 0 days 1,789 sqft
    2020-10-01 0 days 1,874 sqft
    2020-11-01 0 days 2,033 sqft
    2020-12-01 0 days 1,965 sqft
    2021-01-01 0 days 1,874 sqft
    2021-02-01 0 days 1,856 sqft
    2021-03-01 0 days 1,850 sqft
    2021-04-01 0 days 2,007 sqft
    2021-05-01 0 days 2,294 sqft
    2021-06-01 0 days 2,112 sqft
    2021-07-01 0 days 2,140 sqft
    2021-08-01 0 days 2,041 sqft
    2021-09-01 0 days 2,106 sqft
    2021-10-01 0 days 2,213 sqft
    2021-11-01 0 days 2,101 sqft
    2021-12-01 0 days 1,697 sqft
    2022-01-01 0 days 1,761 sqft
    2022-02-01 0 days 1,743 sqft
    2022-03-01 0 days 1,659 sqft
    2022-04-01 0 days 1,546 sqft
    2022-05-01 0 days 1,705 sqft
    2022-06-01 0 days 1,650 sqft
    2022-07-01 0 days 2,099 sqft
    2022-08-01 0 days 2,055 sqft
    2022-09-01 0 days 1,997 sqft
    2022-10-01 0 days 1,950 sqft
    2022-11-01 0 days 1,974 sqft
    2022-12-01 0 days 1,936 sqft
    2023-01-01 0 days 1,945 sqft
    2023-02-01 0 days 1,865 sqft
    Grenada's median listing age (time on market) for 2023-02-01 was 0 days.

    Grenada's median square footage for active listings during the 2023-02-01 period was 1,865 sqft. One year prior, the average listing was 1,743 sqft.

    Grenada, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 204 $32,570,000 $159,657
    Refi 88 $9,830,000 $111,705
    Cash Out Refi 39 $6,185,000 $158,590
    Home Improvement 23 $1,245,000 $54,130
    Other 19 $1,885,000 $99,211

    Grenada's most frequently cited loan purpose was Home Purchase, with 204 originations. The 2nd most popular reason was Refi, with 88 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 108 $17,230,000 $159,537
    4-5% 74 $12,120,000 $163,784
    3-4% 71 $9,325,000 $131,338
    6-7% 56 $6,650,000 $118,750
    <2.5% 22 $1,300,000 $59,091
    7-8% 21 $2,145,000 $102,143
    2.5-3% 11 $2,285,000 $207,727
    Over 8% 9 $655,000 $72,778

    During 2022, Grenada's most frequently originated rate bucket was 5-6%, with 108 originations.

    Loan Sizing (Grenada, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 162 $8,370,000 $51,667
    $100k-200k 126 $18,640,000 $147,937
    $200k-400k 76 $19,970,000 $262,763
    $400k-600k 5 $2,145,000 $429,000
    $600k-1000k 4 $2,590,000 $647,500

    Grenada's loan sizing saw the bucket of loans from $100,000 or less with 162 originations, totaling $8,370,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 154 $28,520,000 $185,195
    60-80% 93 $14,565,000 $156,613
    40-60% 41 $4,645,000 $113,293
    Under 20% 40 $870,000 $21,750
    20-40% 37 $1,885,000 $50,946
    Over 100% 5 $925,000 $185,000

    Grenada's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 154 originations, totaling $28,520,000 in origination value.