Houghton Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Houghton averaged 6.97% for the week of 2024-03-21, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2024-03-14) was 6.94% and one month ago for the week of 2024-02-15, the average rate was 6.87%.

Houghton's average rate one year ago was 7.1%.

For refis of the same type during the week of 2024-03-21, the average rate was 7.37%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-03-21 6.87%
Houghton 30 Year Fixed Rate 2024-03-21 6.97%
Houghton 30 Year Fixed Rate Refi 2024-03-21 7.37%
Houghton 15 Year Fixed Rate 2024-03-21 6.31%
Houghton 15 Year Fixed Rate Refi 2024-03-21 6.61%
Houghton 30 Year FHA 2024-03-21 6.7%
Houghton 30 Year FHA Refi 2024-03-21 6.6%
Houghton 30 Year USDA 2024-03-21 6.87%
Houghton 30 Year USDA Refi 2024-03-21 6.67%
Houghton 30 Year VA 2024-03-21 6.74%
Houghton 30 Year VA Refi 2024-03-21 6.74%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Houghton, MI.

Houghton 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 Houghton, MI 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
Range Bank 39 6.81% $2,463
QUICKEN LOANS, LLC 22 6.98% $6,000
IncredibleBank 18 7.14% $2,852
The Huntington National Bank 5 6.73% $2,760
JPMorgan Chase Bank 5 6.68% $5,889
Flagstar Bank, FSB 4 6.58% $3,877
UNITED WHOLESALE MORTGAGE, LLC 4 6.82% $5,159
LAKE MICHIGAN CREDIT UNION 3 6.92% $3,256
MORTGAGE CENTER L.C 3 5.88% $2,950
Associated Bank 2 6.25% $3,766
ZILLOW HOME LOANS, LLC 2 7.63% $4,199
U.S. Bank 2 7.06% $2,557
Mortgage Research Center, LLC 2 7.19% $3,304
Honor Credit Union 2 6.81% $2,795
J. VIRGIL, INC. 1 7.75% $12,106
MICHIGAN FIRST CREDIT UNION 1 11.25% $8,104
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1 6.38% $3,165
NAVY FEDERAL CREDIT UNION 1 7.00% $1,987
NEWREZ LLC 1 6.63% $4,742
Nicolet National Bank 1 7.88% $3,148
OAK MORTGAGE, LLC 1 6.13% $5,094
PHH Mortgage Corporation 1 6.25% $5,556
PNC Bank 1 7.75% $3,458
PROPER RATE, LLC 1 7.88% $3,701
PURDUE FEDERAL CREDIT UNION 1 6.50% $2,469
Quontic Bank 1 8.88% $6,368
RIVER VALLEY CREDIT UNION 1 6.13% $3,610
S1L, Inc. 1 6.13% $3,668
Summit Credit Union 1 5.88% $1,999
TEAM ONE CREDIT UNION 1 6.25% $0
Ally Bank 1 6.63% $2,046
USAA Federal Savings Bank 1 6.75% $3,395
Wells Fargo Bank 1 7.63% $2,839
UNION HOME MORTGAGE CORP. 1 7.38% $4,343
AMERISAVE MORTGAGE CORPORATION 1 7.38% $3,398
Atlantic Coast Mortgage, LLC 1 7.50% $3,737
Barrington Bank & Trust Company, N.A. 1 8.13% $2,328
BETTER MORTGAGE CORPORATION 1 6.63% $3,520
Carrington Mortgage Services, LLC 1 6.25% $5,954
Citizens Bank 1 5.75% $8,649
CMG MORTGAGE, INC. 1 6.50% $3,936
CoVantage Credit Union 1 6.88% $2,884
Discover Bank 1 7.49% $0
DOW CHEMICAL EMPLOYEES' 1 6.88% $2,873
FINANCIAL PLUS CREDIT UNION 1 6.38% $2,578
First Federal Bank 1 6.25% $2,208
GUARANTEED RATE, INC. 1 7.88% $3,438

Houghton Average Closing Costs & Other Stats

Houghton, MI's 47 lenders originated 462 loans during 2023. The total origination value was $78,250,000, with an average loan value of $169,372.

Houghton's average closing costs are $3,376.

The top Houghton lender as defined by loan originations is Range Bank, with 39 loans originated. Their average total fees are $2,463, which is $3,537 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Houghton lenders (with over 10 loans originated) are Range Bank ($2,463), IncredibleBank ($2,852), QUICKEN LOANS, LLC ($6,000), .

The lowest rate Houghton lenders (with over 10 loans originated) are Range Bank (6.81%), QUICKEN LOANS, LLC (6.98%), IncredibleBank (7.14%), .

Houghton, MI 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
Range Bank $17,470,000 $16,045,000 -8.2% 20.5%
QUICKEN LOANS, LLC $8,250,000 $6,505,000 -21.2% 8.3%
IncredibleBank $8,345,000 $5,195,000 -37.7% 6.6%
Mortgage Research Center, LLC $1,180,000 $2,430,000 105.9% 3.1%
The Huntington National Bank $2,375,000 $1,800,000 -24.2% 2.3%
UNITED WHOLESALE MORTGAGE, LLC $1,790,000 $1,630,000 -8.9% 2.1%
JPMorgan Chase Bank $530,000 $1,225,000 131.1% 1.6%
GreenStone Farm Credit Services, FLCA $535,000 $1,160,000 116.8% 1.5%
Flagstar Bank, FSB $2,285,000 $1,045,000 -54.3% 1.3%
NAVY FEDERAL CREDIT UNION $890,000 $935,000 5.1% 1.2%
LAKE MICHIGAN CREDIT UNION $870,000 $840,000 -3.4% 1.1%
Wells Fargo Bank $4,085,000 $760,000 -81.4% 1.0%
CoVantage Credit Union $25,000 $685,000 2,640.0% 0.9%
Associated Bank $445,000 $670,000 50.6% 0.9%
AMERISAVE MORTGAGE CORPORATION $660,000 n/a 0.8%
Honor Credit Union $205,000 $655,000 219.5% 0.8%
USAA Federal Savings Bank $705,000 $610,000 -13.5% 0.8%
FREEDOM MORTGAGE CORPORATION $325,000 $600,000 84.6% 0.8%
BROKER SOLUTIONS, INC. $95,000 $535,000 463.2% 0.7%
NEXERA HOLDING LLC $485,000 n/a 0.6%
MORTGAGE CENTER L.C $110,000 $480,000 336.4% 0.6%
BETTER MORTGAGE CORPORATION $580,000 $435,000 -25.0% 0.6%
DOW CHEMICAL EMPLOYEES' $75,000 $425,000 466.7% 0.5%
J. VIRGIL, INC. $365,000 n/a 0.5%
Atlantic Coast Mortgage, LLC $325,000 n/a 0.4%
PURDUE FEDERAL CREDIT UNION $325,000 n/a 0.4%
IVY MORTGAGE, INC. $305,000 n/a 0.4%
RIVER VALLEY CREDIT UNION $295,000 n/a 0.4%
Nicolet National Bank $860,000 $275,000 -68.0% 0.4%
Citizens Bank $210,000 $265,000 26.2% 0.3%
MICHIGAN FIRST CREDIT UNION $265,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $260,000 n/a 0.3%
NEW DAY FINANCIAL, LLC $175,000 $235,000 34.3% 0.3%
CMG MORTGAGE, INC. $230,000 n/a 0.3%
UNION HOME MORTGAGE CORP. $125,000 $215,000 72.0% 0.3%
FOUNDATION MORTGAGE CORPORATION $205,000 n/a 0.3%
PROPER RATE, LLC $205,000 n/a 0.3%
CHURCHILL MORTGAGE CORPORATION $75,000 $195,000 160.0% 0.2%
U.S. Bank $450,000 $190,000 -57.8% 0.2%
Discover Bank $80,000 $185,000 131.3% 0.2%
OAK MORTGAGE, LLC $185,000 n/a 0.2%
ZILLOW HOME LOANS, LLC $245,000 $180,000 -26.5% 0.2%
Ally Bank $135,000 $175,000 29.6% 0.2%
Quontic Bank $175,000 n/a 0.2%
NEWREZ LLC $170,000 n/a 0.2%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $295,000 $165,000 -44.1% 0.2%
TOWER $165,000 n/a 0.2%
GUARANTEED RATE, INC. $465,000 $155,000 -66.7% 0.2%
HOMEBRIDGE FINANCIAL SERVICES, INC. $700,000 $145,000 -79.3% 0.2%
LOANDEPOT.COM, LLC $920,000 $125,000 -86.4% 0.2%
First Federal Bank $115,000 n/a 0.1%
TEAM ONE CREDIT UNION $115,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $55,000 $105,000 90.9% 0.1%
Deere Employees Credit Union $105,000 n/a 0.1%
LIMA ONE CAPITAL, LLC $115,000 $105,000 -8.7% 0.1%
Paramount Residential Mortgage Group, Inc. $105,000 n/a 0.1%
PNC Bank $330,000 $105,000 -68.2% 0.1%
Carrington Mortgage Services, LLC $95,000 n/a 0.1%
CROSSCOUNTRY MORTGAGE, LLC $530,000 $95,000 -82.1% 0.1%
FINANCIAL PLUS CREDIT UNION $85,000 n/a 0.1%
PHH Mortgage Corporation $65,000 $85,000 30.8% 0.1%
S1L, Inc. $85,000 n/a 0.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $195,000 $75,000 -61.5% 0.1%
PREMIER MORTGAGE RESOURCES, L.L.C. $75,000 n/a 0.1%
Summit Credit Union $75,000 n/a 0.1%
PENNYMAC LOAN SERVICES, LLC $305,000 $65,000 -78.7% 0.1%
AMERICAN FINANCING CORPORATION $55,000 n/a 0.1%
Figure Lending LLC $65,000 $50,000 -23.1% 0.1%
CREDIT UNION ONE $45,000 n/a 0.1%
Bank of America $115,000 $25,000 -78.3% 0.0%

Houghton's top lender by overall market share is Range Bank, with 20.5% market share. In second place, with 8.3%, is QUICKEN LOANS, LLC, having originated $6,505,000 in loans. In third place, with 6.6%, is IncredibleBank, having originated $5,195,000 in loans. In fourth place, with 3.1%, is Mortgage Research Center, LLC, having originated $2,430,000 in loans. In fifth place, with 2.3%, is The Huntington National Bank, having originated $1,800,000 in loans.


Houghton Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Houghton (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 $119,975 (7.6%) $188,822 (17.7%) 0.00 174
2018-02-01 $124,375 (12.4%) $191,157 (20.2%) 0.00 170
2018-03-01 $142,450 (19.0%) $205,596 (30.3%) 0.00 170
2018-04-01 $152,675 (13.2%) $224,633 (28.8%) 0.00 165
2018-05-01 $153,450 (-3.2%) $223,789 (12.8%) 0.00 183
2018-06-01 $155,000 (8.5%) $214,782 (8.0%) 0.00 247
2018-07-01 $153,950 (10.0%) $207,572 (4.1%) 0.00 260
2018-08-01 $147,500 (6.1%) $203,458 (1.8%) 0.00 264
2018-09-01 $134,950 (3.9%) $191,065 (-0.4%) 0.00 253
2018-10-01 $134,900 (-0.8%) $189,905 (-2.9%) 0.00 228
2018-11-01 $137,975 (-0.9%) $197,870 (-1.6%) 0.00 195
2018-12-01 $140,950 (10.6%) $199,707 (3.7%) 0.00 167
2019-01-01 $131,250 (9.4%) $198,650 (5.2%) 0.00 136
2019-02-01 $130,750 (5.1%) $203,706 (6.6%) 0.00 127
2019-03-01 $152,043 (6.7%) $223,317 (8.6%) 0.00 124
2019-04-01 $172,400 (12.9%) $231,191 (2.9%) 0.00 127
2019-05-01 $163,175 (6.3%) $230,798 (3.1%) 0.00 172
2019-06-01 $179,000 (15.5%) $227,164 (5.8%) 0.00 214
2019-07-01 $165,075 (7.2%) $212,059 (2.2%) 0.00 241
2019-08-01 $156,600 (6.2%) $205,089 (0.8%) 0.00 243
2019-09-01 $152,325 (12.9%) $199,341 (4.3%) 0.00 241
2019-10-01 $146,950 (8.9%) $193,118 (1.7%) 0.00 238
2019-11-01 $139,000 (0.7%) $186,822 (-5.6%) 0.00 207
2019-12-01 $145,075 (2.9%) $194,571 (-2.6%) 0.00 183
2020-01-01 $148,850 (13.4%) $193,952 (-2.4%) 0.00 143
2020-02-01 $153,750 (17.6%) $202,187 (-0.8%) 0.00 126
2020-03-01 $182,000 (19.7%) $224,898 (0.7%) 0.00 121
2020-04-01 $170,000 (-1.4%) $220,045 (-4.8%) 0.00 126
2020-05-01 $167,500 (2.7%) $224,321 (-2.8%) 0.00 131
2020-06-01 $167,125 (-6.6%) $222,174 (-2.2%) 0.00 143
2020-07-01 $164,950 (-0.1%) $226,070 (6.6%) 0.00 150
2020-08-01 $167,450 (6.9%) $224,539 (9.5%) 0.00 142
2020-09-01 $169,000 (11.0%) $236,115 (18.5%) 0.00 119
2020-10-01 $139,900 (-4.8%) $237,845 (23.2%) 0.00 91
2020-11-01 $139,000 (0.0%) $248,014 (32.8%) 0.00 75
2020-12-01 $149,450 (3.0%) $265,830 (36.6%) 0.00 55
2021-01-01 $137,450 (-7.7%) $256,662 (32.3%) 0.00 46
2021-02-01 $144,450 (-6.1%) $290,803 (43.8%) 0.00 41
2021-03-01 $173,850 (-4.5%) $318,458 (41.6%) 0.00 37
2021-04-01 $164,525 (-3.2%) $309,376 (40.6%) 0.00 44
2021-05-01 $171,610 (2.5%) $308,710 (37.6%) 0.00 51
2021-06-01 $163,625 (-2.1%) $273,068 (22.9%) 0.00 78
2021-07-01 $180,000 (9.1%) $272,200 (20.4%) 0.00 82
2021-08-01 $162,725 (-2.8%) $253,190 (12.8%) 0.00 76
2021-09-01 $147,475 (-12.7%) $237,190 (0.5%) 0.00 68
2021-10-01 $157,000 (12.2%) $229,631 (-3.5%) 0.00 67
2021-11-01 $150,000 (7.9%) $285,025 (14.9%) 0.00 54
2021-12-01 $151,000 (1.0%) $292,740 (10.1%) 0.00 53
2022-01-01 $145,000 (5.5%) $322,601 (25.7%) 0.00 36
2022-02-01 $182,450 (26.3%) $463,878 (59.5%) 0.00 18
2022-03-01 $244,700 (40.8%) $586,496 (84.2%) 0.00 15
2022-04-01 $232,250 (41.2%) $447,871 (44.8%) 0.00 17
2022-05-01 $186,175 (8.5%) $410,839 (33.1%) 0.00 23
2022-06-01 $214,500 (31.1%) $379,879 (39.1%) 0.00 37
2022-07-01 $247,450 (37.5%) $373,611 (37.3%) 0.00 51
2022-08-01 $252,400 (55.1%) $357,228 (41.1%) 0.00 57
2022-09-01 $195,950 (32.9%) $316,628 (33.5%) 0.00 59
2022-10-01 $177,000 (12.7%) $316,663 (37.9%) 0.00 57
2022-11-01 $195,500 (30.3%) $329,969 (15.8%) 0.00 49
2022-12-01 $259,900 (72.1%) $353,161 (20.6%) 0.00 34
2023-01-01 $242,500 (67.2%) $380,482 (17.9%) 0.00 29
2023-02-01 $261,250 (43.2%) $302,172 (-34.9%) 0.00 28
2023-03-01 $263,750 (7.8%) $338,405 (-42.3%) 0.00 32
2023-04-01 $214,000 (-7.9%) $348,094 (-22.3%) 0.00 35
2023-05-01 $162,350 (-12.8%) $318,977 (-22.4%) 0.00 38
2023-06-01 $164,700 (-23.2%) $297,449 (-21.7%) 0.00 48
2023-07-01 $239,000 (-3.4%) $360,267 (-3.6%) 0.00 54
2023-08-01 $244,000 (-3.3%) $352,768 (-1.3%) 0.00 65
2023-09-01 $229,000 (16.9%) $340,048 (7.4%) 0.00 60
2023-10-01 $204,500 (15.5%) $322,731 (1.9%) 0.00 58
2023-11-01 $190,125 (-2.8%) $290,733 (-11.9%) 0.00 58
2023-12-01 $178,000 (-31.5%) $237,303 (-32.8%) 0.00 56
2024-01-01 $167,250 (-31.0%) $225,335 (-40.8%) 0.00 46
2024-02-01 $167,000 (-36.1%) $236,219 (-21.8%) 0.00 41
Houghton's median listing price for 2024-02-01 was $167,000, a difference of $-94,250 (-36.1%) versus the prior year and $-250 versus the prior month.

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

Houghton's average listing price for 2024-02-01 was $236,219, a difference of $-65,953 (-21.8%) versus the prior year and $10,884 versus the prior month.

For the 2024-02-01 period, Houghton had 41 MLS listings, a difference of -5 listings (-11%) versus the prior month and 13 listings (46%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,572 sqft
2018-02-01 0 days 1,568 sqft
2018-03-01 0 days 1,576 sqft
2018-04-01 0 days 1,581 sqft
2018-05-01 0 days 1,566 sqft
2018-06-01 0 days 1,593 sqft
2018-07-01 0 days 1,592 sqft
2018-08-01 0 days 1,579 sqft
2018-09-01 0 days 1,552 sqft
2018-10-01 0 days 1,550 sqft
2018-11-01 0 days 1,540 sqft
2018-12-01 0 days 1,572 sqft
2019-01-01 0 days 1,558 sqft
2019-02-01 0 days 1,578 sqft
2019-03-01 0 days 1,653 sqft
2019-04-01 0 days 1,704 sqft
2019-05-01 0 days 1,693 sqft
2019-06-01 0 days 1,696 sqft
2019-07-01 0 days 1,656 sqft
2019-08-01 0 days 1,665 sqft
2019-09-01 0 days 1,654 sqft
2019-10-01 0 days 1,643 sqft
2019-11-01 0 days 1,649 sqft
2019-12-01 0 days 1,625 sqft
2020-01-01 0 days 1,606 sqft
2020-02-01 0 days 1,588 sqft
2020-03-01 0 days 1,604 sqft
2020-04-01 0 days 1,588 sqft
2020-05-01 0 days 1,672 sqft
2020-06-01 0 days 1,635 sqft
2020-07-01 0 days 1,709 sqft
2020-08-01 0 days 1,672 sqft
2020-09-01 0 days 1,731 sqft
2020-10-01 0 days 1,588 sqft
2020-11-01 0 days 1,537 sqft
2020-12-01 0 days 1,588 sqft
2021-01-01 0 days 1,536 sqft
2021-02-01 0 days 1,575 sqft
2021-03-01 0 days 1,770 sqft
2021-04-01 0 days 1,877 sqft
2021-05-01 0 days 1,861 sqft
2021-06-01 0 days 1,687 sqft
2021-07-01 0 days 1,855 sqft
2021-08-01 0 days 1,810 sqft
2021-09-01 0 days 1,850 sqft
2021-10-01 0 days 1,829 sqft
2021-11-01 0 days 1,827 sqft
2021-12-01 0 days 1,773 sqft
2022-01-01 0 days 1,583 sqft
2022-02-01 0 days 1,468 sqft
2022-03-01 0 days 1,680 sqft
2022-04-01 0 days 1,824 sqft
2022-05-01 0 days 1,628 sqft
2022-06-01 0 days 1,762 sqft
2022-07-01 0 days 1,584 sqft
2022-08-01 0 days 1,737 sqft
2022-09-01 0 days 1,649 sqft
2022-10-01 0 days 1,556 sqft
2022-11-01 0 days 1,624 sqft
2022-12-01 0 days 1,656 sqft
2023-01-01 0 days 1,637 sqft
2023-02-01 0 days 1,653 sqft
2023-03-01 0 days 1,926 sqft
2023-04-01 0 days 1,840 sqft
2023-05-01 0 days 1,702 sqft
2023-06-01 0 days 1,653 sqft
2023-07-01 0 days 1,613 sqft
2023-08-01 0 days 1,438 sqft
2023-09-01 0 days 1,381 sqft
2023-10-01 0 days 1,410 sqft
2023-11-01 0 days 1,379 sqft
2023-12-01 0 days 1,380 sqft
2024-01-01 0 days 1,502 sqft
2024-02-01 0 days 1,446 sqft
Houghton's median listing age (time on market) for 2024-02-01 was 0 days.

Houghton's median square footage for active listings during the 2024-02-01 period was 1,446 sqft. One year prior, the average listing was 1,653 sqft.

Houghton, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 281 $55,375,000 $197,064
Cash Out Refi 80 $10,650,000 $133,125
Home Improvement 43 $3,475,000 $80,814
Refi 35 $7,155,000 $204,429
Other 23 $1,595,000 $69,348

Houghton's most frequently cited loan purpose was Home Purchase, with 281 originations. The 2nd most popular reason was Cash Out Refi, with 80 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 192 $35,880,000 $186,875
7-8% 147 $27,295,000 $185,680
Over 8% 86 $9,090,000 $105,698
5-6% 35 $5,755,000 $164,429
2.5-3% 1 $65,000 $65,000
4-5% 1 $165,000 $165,000

During 2023, Houghton's most frequently originated rate bucket was 6-7%, with 192 originations.

Loan Sizing (Houghton, MI MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 173 $10,695,000 $61,821
$100k-200k 162 $22,370,000 $138,086
$200k-400k 103 $27,835,000 $270,243
$400k-600k 16 $7,590,000 $474,375
$Over $1MM 5 $7,755,000 $1,551,000
$600k-1000k 3 $2,005,000 $668,333

Houghton's loan sizing saw the bucket of loans from $100,000 or less with 173 originations, totaling $10,695,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 186 $36,120,000 $194,194
60-80% 138 $27,870,000 $201,957
40-60% 54 $7,620,000 $141,111
20-40% 49 $3,735,000 $76,224
Under 20% 30 $1,970,000 $65,667
Over 100% 4 $870,000 $217,500

Houghton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 186 originations, totaling $36,120,000 in origination value.