Hope Mortgage Rates
30 Year Fixed Rate mortgages in Hope averaged
6.11%
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
6.22% and
one month ago for the week of 2022-05-26, the
average rate was 5.71%.
Hope's average rate one year ago was 3.51%.
For refis of the same type during the week of 2022-06-30, the average rate
was 6.01%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-30 | 5.7% |
| Hope 30 Year Fixed Rate | 2022-06-30 | 6.11% |
| Hope 30 Year Fixed Rate Refi | 2022-06-30 | 6.01% |
| Hope 15 Year Fixed Rate | 2022-06-30 | 5.28% |
| Hope 15 Year Fixed Rate Refi | 2022-06-30 | 5.1% |
| Hope 30 Year FHA | 2022-06-30 | 5.88% |
| Hope 30 Year FHA Refi | 2022-06-30 | 5.52% |
| Hope 30 Year USDA | 2022-06-30 | 5.96% |
| Hope 30 Year USDA Refi | 2022-06-30 | 5.66% |
| Hope 30 Year VA | 2022-06-30 | 5.5% |
| Hope 30 Year VA Refi | 2022-06-30 | 5.44% |
Hope 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 Hope, AR 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.).
Hope, AR's 29 lenders originated 451
loans during 2021. The total origination value was $51,395,000, with an average loan value of
$113,958.
The top Hope lender as defined by loan originations is SWBC MORTGAGE CORPORATION, with
12 loans originated. Their average total fees are
$3,090, which is $1,064
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Hope lenders (with over 10 loans originated) are
SWBC MORTGAGE CORPORATION ($3,090), .
The lowest rate Hope lenders (with over 10 loans originated) are
SWBC MORTGAGE CORPORATION (3.08%), .
Hope, AR 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 |
|---|---|---|---|---|
| SWBC MORTGAGE CORPORATION | $5,950,000 | $6,875,000 | 15.5% | 13.4% |
| Farmers Bank & Trust Company | $8,385,000 | $6,845,000 | -18.4% | 13.3% |
| QUICKEN LOANS, LLC | $5,630,000 | $4,625,000 | -17.9% | 9.0% |
| BancorpSouth Bank | $2,570,000 | $3,745,000 | 45.7% | 7.3% |
| The First National Bank of Tom Bean | $2,895,000 | $3,130,000 | 8.1% | 6.1% |
| Diamond Bank | $2,320,000 | $2,025,000 | -12.7% | 3.9% |
| FirstTrust Home Loans, Inc. | $3,275,000 | $1,830,000 | -44.1% | 3.6% |
| RED RIVER EMPLOYEES | $1,170,000 | $1,495,000 | 27.8% | 2.9% |
| 21ST MORTGAGE CORPORATION | $970,000 | $1,375,000 | 41.8% | 2.7% |
| PENNYMAC LOAN SERVICES, LLC | $1,365,000 | n/a | 2.7% | |
| FREEDOM MORTGAGE CORPORATION | $880,000 | $1,020,000 | 15.9% | 2.0% |
| LOANDEPOT.COM, LLC | $220,000 | $985,000 | 347.7% | 1.9% |
| Farm Credit Services of Western Arkansas, ACA | $1,870,000 | $870,000 | -53.5% | 1.7% |
| Bank of England | $795,000 | $775,000 | -2.5% | 1.5% |
| TRIAD FINANCIAL SERVICES, INC. | $670,000 | $685,000 | 2.2% | 1.3% |
| State Bank of De Kalb | $760,000 | $670,000 | -11.8% | 1.3% |
| Arvest Bank | $285,000 | $650,000 | 128.1% | 1.3% |
| NEWREZ LLC | $115,000 | $635,000 | 452.2% | 1.2% |
| Horatio State Bank | $30,000 | $615,000 | 1,950.0% | 1.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $920,000 | $545,000 | -40.8% | 1.1% |
| CALIBER HOME LOANS, INC. | $525,000 | n/a | 1.0% | |
| FIRST COMMUNITY MORTGAGE, INC. | $525,000 | n/a | 1.0% | |
| AMERISAVE MORTGAGE CORPORATION | $385,000 | n/a | 0.7% | |
| Wells Fargo Bank | $190,000 | $385,000 | 102.6% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $355,000 | n/a | 0.7% | |
| MORTGAGE FINANCIAL SERVICES, LLC | $330,000 | n/a | 0.6% | |
| Waterstone Mortgage Corporation | $270,000 | $330,000 | 22.2% | 0.6% |
| Mortgage Research Center, LLC | $900,000 | $320,000 | -64.4% | 0.6% |
| LAKEVIEW LOAN SERVICING, LLC | $290,000 | $300,000 | 3.4% | 0.6% |
| Bank OZK | $360,000 | $295,000 | -18.1% | 0.6% |
| U.S. Bank | $245,000 | $295,000 | 20.4% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $370,000 | $265,000 | -28.4% | 0.5% |
| Plains Commerce Bank | $255,000 | n/a | 0.5% | |
| Simmons Bank | $255,000 | n/a | 0.5% | |
| ACADEMY MORTGAGE CORPORATION | $425,000 | $230,000 | -45.9% | 0.4% |
| First National Bank | $225,000 | n/a | 0.4% | |
| UNITED WHOLESALE MORTGAGE, LLC | $225,000 | n/a | 0.4% | |
| TEXAR | $170,000 | $220,000 | 29.4% | 0.4% |
| First Guaranty Mortgage Corporation | $205,000 | n/a | 0.4% | |
| AMERICAN FINANCIAL NETWORK, INC. | $195,000 | n/a | 0.4% | |
| Nations Lending Corporation | $190,000 | n/a | 0.4% | |
| Regions Bank | $515,000 | $190,000 | -63.1% | 0.4% |
| VILLAGE CAPITAL & INVESTMENT LLC | $105,000 | $190,000 | 81.0% | 0.4% |
| Paramount Residential Mortgage Group, Inc. | $185,000 | n/a | 0.4% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $355,000 | $175,000 | -50.7% | 0.3% |
| GSF Mortgage Corporation | $55,000 | $165,000 | 200.0% | 0.3% |
| CORNERSTONE HOME LENDING, INC. | $105,000 | $155,000 | 47.6% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $155,000 | n/a | 0.3% | |
| PENTAGON FEDERAL CREDIT UNION | $155,000 | n/a | 0.3% | |
| Triumph Bank | $155,000 | n/a | 0.3% | |
| AMCAP MORTGAGE, LTD. | $145,000 | n/a | 0.3% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $145,000 | n/a | 0.3% | |
| Total Media Management, LLC | $145,000 | n/a | 0.3% | |
| CityWorth Mortgage LLC | $85,000 | $135,000 | 58.8% | 0.3% |
| Wyndham Capital Mortgage, Inc. | $135,000 | n/a | 0.3% | |
| ZILLOW HOME LOANS, LLC | $135,000 | n/a | 0.3% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $125,000 | $125,000 | 0.0% | 0.2% |
| Citizens Bank | $125,000 | n/a | 0.2% | |
| NEW DAY FINANCIAL, LLC | $270,000 | $125,000 | -53.7% | 0.2% |
| Servion, Inc. | $125,000 | n/a | 0.2% | |
| Century Next Bank | $115,000 | n/a | 0.2% | |
| COUNTRYPLACE MORTGAGE, LTD. | $170,000 | $115,000 | -32.4% | 0.2% |
| HOME POINT FINANCIAL CORPORATION | $95,000 | $115,000 | 21.1% | 0.2% |
| Figure Lending LLC | $110,000 | n/a | 0.2% | |
| Ally Bank | $105,000 | n/a | 0.2% | |
| Gateway First Bank | $105,000 | n/a | 0.2% | |
| The Home Loan Expert LLC | $105,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $355,000 | $95,000 | -73.2% | 0.2% |
| Citibank | $95,000 | n/a | 0.2% | |
| GENEVA FINANCIAL, LLC | $85,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $75,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $75,000 | n/a | 0.1% | |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $65,000 | n/a | 0.1% | |
| CSL Financial, LLC | $65,000 | n/a | 0.1% | |
| Discover Bank | $55,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $115,000 | $55,000 | -52.2% | 0.1% |
| First Security Bank | $25,000 | n/a | 0.0% |
Hope's top lender by overall market share is SWBC MORTGAGE CORPORATION, with 13.4% market share. In second place, with 13.3%, is Farmers Bank & Trust Company, having originated $6,845,000 in loans. In third place, with 9.0%, is QUICKEN LOANS, LLC, having originated $4,625,000 in loans. In third place, with 7.3%, is BancorpSouth Bank, having originated $3,745,000 in loans. In third place, with 6.1%, is The First National Bank of Tom Bean, having originated $3,130,000 in loans.
Hope, AR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 227 | $24,395,000 | $107,467 |
| Refi | 131 | $17,545,000 | $133,931 |
| Cash Out Refi | 72 | $8,350,000 | $115,972 |
| Home Improvement | 15 | $635,000 | $42,333 |
| Other | 6 | $470,000 | $78,333 |
Hope's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Refi, with 131 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 131 | $16,675,000 | $127,290 |
| 2.5-3% | 91 | $11,515,000 | $126,538 |
| 4-5% | 76 | $8,010,000 | $105,395 |
| <2.5% | 43 | $5,705,000 | $132,674 |
| 5-6% | 20 | $1,500,000 | $75,000 |
| 6-7% | 18 | $1,370,000 | $76,111 |
| Over 8% | 8 | $730,000 | $91,250 |
| 7-8% | 7 | $515,000 | $73,571 |
During 2021, Hope's most frequently originated rate bucket was 3-4%, with 131 originations.
Loan Sizing (Hope, AR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 214 | $12,560,000 | $58,692 |
| $100k-200k | 197 | $27,235,000 | $138,249 |
| $200k-400k | 36 | $8,880,000 | $246,667 |
| $400k-600k | 3 | $1,455,000 | $485,000 |
| $Over $1MM | 1 | $1,265,000 | $1,265,000 |
Hope's loan sizing saw the bucket of loans from $100,000 or less with 214 originations, totaling $12,560,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 203 | $25,005,000 | $123,177 |
| 60-80% | 107 | $11,605,000 | $108,458 |
| 40-60% | 41 | $5,375,000 | $131,098 |
| 20-40% | 19 | $1,055,000 | $55,526 |
| Under 20% | 7 | $195,000 | $27,857 |
| Over 100% | 5 | $1,255,000 | $251,000 |
Hope's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 203 originations, totaling $25,005,000 in origination value.
