Houghton Mortgage Rates & Closing Costs

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  • Trends
  • Rates vs. Fees
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Houghton averaged 6.42% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.34% and one month ago for the week of 2023-04-20, the average rate was 6.34%.

    Houghton's average rate one year ago was 5.4%.

    For refis of the same type during the week of 2023-05-25, the average rate was 6.77%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Houghton 30 Year Fixed Rate 2023-05-25 6.42%
    Houghton 30 Year Fixed Rate Refi 2023-05-25 6.77%
    Houghton 15 Year Fixed Rate 2023-05-25 5.97%
    Houghton 15 Year Fixed Rate Refi 2023-05-25 6.57%
    Houghton 30 Year FHA 2023-05-25 6.61%
    Houghton 30 Year FHA Refi 2023-05-25 6.91%
    Houghton 30 Year USDA 2023-05-25 6.73%
    Houghton 30 Year USDA Refi 2023-05-25 6.83%
    Houghton 30 Year VA 2023-05-25 6.31%
    Houghton 30 Year VA Refi 2023-05-25 6.41%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Range Bank 58 5.09% $2,681
    IncredibleBank 32 4.98% $2,541
    QUICKEN LOANS, LLC 24 4.95% $5,503
    Wells Fargo Bank 14 4.93% $3,015
    Flagstar Bank, FSB 7 4.56% $3,208
    UNITED WHOLESALE MORTGAGE, LLC 6 6.10% $5,406
    The Huntington National Bank 6 4.71% $2,996
    JPMorgan Chase Bank 3 4.04% $2,227
    CROSSCOUNTRY MORTGAGE, LLC 3 5.88% $6,276
    LOANDEPOT.COM, LLC 3 3.58% $4,328
    MICHIGAN SCHOOLS AND GOVERNMENT 2 4.94% $2,188
    BETTER MORTGAGE CORPORATION 2 4.44% $2,069
    GUARANTEED RATE, INC. 2 4.81% $4,510
    NAVY FEDERAL CREDIT UNION 2 3.69% $1,961
    U.S. Bank 2 4.44% $2,459
    Nicolet National Bank 2 4.31% $3,066
    PNC Bank 2 4.63% $3,460
    Mercantile Bank of Michigan 1 3.50% $2,100
    MICHIGAN MUTUAL, INC. 1 5.75% $3,861
    MORTGAGE 1 INCORPORATED 1 6.88% $2,867
    MORTGAGE CENTER L.C 1 3.38% $1,546
    Mortgage Research Center, LLC 1 5.63% $3,449
    Mr. Cooper ( Nationstar Mortgage ) 1 4.99% $8,681
    MYCUMORTGAGE, LLC 1 4.50% $4,389
    Old National Bank 1 6.13% $3,120
    PHH Mortgage Corporation 1 6.63% $4,451
    Prairie State Bank and Trust 1 3.50% $1,298
    Prosperity Home Mortgage, LLC 1 5.38% $7,120
    ROYAL UNITED MORTGAGE LLC 1 5.25% $6,860
    SOFI LENDING CORP. 1 2.88% $3,796
    South State Bank 1 5.25% $3,360
    STAUNTON FINANCIAL, INC. 1 3.88% $2,782
    Stillman BancCorp N.A. 1 3.95% $2,365
    THE EQUITABLE MORTGAGE CORPORATION 1 5.00% $1,783
    The State Bank 1 7.13% $3,398
    TOWNE MORTGAGE COMPANY 1 5.99% $4,706
    UNION HOME MORTGAGE CORP. 1 4.38% $3,719
    United Community Bank 1 4.38% $16,644
    UNIVERSITY LENDING GROUP, LLC 1 3.88% $2,430
    USAA Federal Savings Bank 1 5.50% $3,230
    ADVANTAGE ONE Credit Union 1 4.88% $5,214
    ZILLOW HOME LOANS, LLC 1 3.50% $4,561
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.88% $4,705
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.12% $4,606
    Associated Bank 1 3.25% $2,024
    Baxter Credit Union 1 4.63% $2,519
    CHURCHILL MORTGAGE CORPORATION 1 5.99% $2,743
    COMMUNITY FINANCIAL CREDIT UNION 1 5.75% $2,681
    Core Bank 1 5.63% $2,384
    DFCU FINANCIAL 1 7.13% $13,036
    Discover Bank 1 7.99% $0
    DOW CHEMICAL EMPLOYEES' 1 7.38% $2,198
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.50% $8,608
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.13% $4,674
    FREEDOM MORTGAGE CORPORATION 1 7.38% $4,606
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.13% $1,733
    GreenStone Farm Credit Services, FLCA 1 6.95% $2,418
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $5,346

    Houghton Average Closing Costs & Other Stats

    Houghton, MI's 58 lenders originated 640 loans during 2022. The total origination value was $102,460,000, with an average loan value of $160,094.

    Houghton's average closing costs are $3,249.

    The top Houghton lender as defined by loan originations is Range Bank, with 58 loans originated. Their average total fees are $2,681, which is $140 higher than the next largest lender, IncredibleBank.

    The lowest fee Houghton lenders (with over 10 loans originated) are IncredibleBank ($2,541), Range Bank ($2,681), Wells Fargo Bank ($3,015), QUICKEN LOANS, LLC ($5,503) and .

    The lowest rate Houghton lenders (with over 10 loans originated) are Wells Fargo Bank (4.93%), QUICKEN LOANS, LLC (4.95%), IncredibleBank (4.98%), Range Bank (5.09%) and .

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Range Bank $31,435,000 $17,470,000 -44.4% 17.1%
    IncredibleBank $13,695,000 $8,345,000 -39.1% 8.1%
    QUICKEN LOANS, LLC $14,380,000 $8,250,000 -42.6% 8.1%
    Wells Fargo Bank $7,210,000 $4,085,000 -43.3% 4.0%
    The Huntington National Bank $3,175,000 $2,375,000 -25.2% 2.3%
    Flagstar Bank, FSB $1,875,000 $2,285,000 21.9% 2.2%
    UNITED WHOLESALE MORTGAGE, LLC $2,885,000 $1,790,000 -38.0% 1.7%
    Mortgage Research Center, LLC $4,000,000 $1,180,000 -70.5% 1.2%
    United Community Bank $1,075,000 n/a 1.0%
    LOANDEPOT.COM, LLC $1,285,000 $920,000 -28.4% 0.9%
    NAVY FEDERAL CREDIT UNION $1,130,000 $890,000 -21.2% 0.9%
    LAKE MICHIGAN CREDIT UNION $1,415,000 $870,000 -38.5% 0.8%
    Nicolet National Bank $410,000 $860,000 109.8% 0.8%
    USAA Federal Savings Bank $370,000 $705,000 90.5% 0.7%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $700,000 n/a 0.7%
    BETTER MORTGAGE CORPORATION $1,650,000 $580,000 -64.8% 0.6%
    GreenStone Farm Credit Services, FLCA $145,000 $535,000 269.0% 0.5%
    CROSSCOUNTRY MORTGAGE, LLC $560,000 $530,000 -5.4% 0.5%
    JPMorgan Chase Bank $1,260,000 $530,000 -57.9% 0.5%
    HOME POINT FINANCIAL CORPORATION $1,015,000 $485,000 -52.2% 0.5%
    Armed Forces Bank $465,000 n/a 0.5%
    GUARANTEED RATE, INC. $675,000 $465,000 -31.1% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $435,000 $465,000 6.9% 0.5%
    Home State Bank $455,000 n/a 0.4%
    U.S. Bank $360,000 $450,000 25.0% 0.4%
    Associated Bank $900,000 $445,000 -50.6% 0.4%
    Isabella Bank $640,000 $405,000 -36.7% 0.4%
    Plains Commerce Bank $385,000 n/a 0.4%
    ADVANTAGE ONE Credit Union $365,000 n/a 0.4%
    PNC Bank $790,000 $330,000 -58.2% 0.3%
    FREEDOM MORTGAGE CORPORATION $1,310,000 $325,000 -75.2% 0.3%
    SOFI LENDING CORP. $325,000 n/a 0.3%
    MICHIGAN SCHOOLS AND GOVERNMENT $55,000 $320,000 481.8% 0.3%
    DRAPER AND KRAMER MORTGAGE CORP. $315,000 n/a 0.3%
    PENNYMAC LOAN SERVICES, LLC $175,000 $305,000 74.3% 0.3%
    South State Bank $305,000 n/a 0.3%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $260,000 $295,000 13.5% 0.3%
    MICHIGAN MUTUAL, INC. $135,000 $290,000 114.8% 0.3%
    DFCU FINANCIAL $135,000 $285,000 111.1% 0.3%
    VILLAGE CAPITAL MORTGAGE $95,000 $275,000 189.5% 0.3%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $255,000 n/a 0.2%
    Fifth Third Bank $210,000 $250,000 19.0% 0.2%
    JOLT CREDIT UNION $245,000 n/a 0.2%
    The Stephenson National Bank and Trust $245,000 n/a 0.2%
    ZILLOW HOME LOANS, LLC $245,000 n/a 0.2%
    Mercantile Bank of Michigan $230,000 n/a 0.2%
    Citizens Bank $350,000 $210,000 -40.0% 0.2%
    Honor Credit Union $190,000 $205,000 7.9% 0.2%
    Colonial Savings, F.A. $195,000 n/a 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $730,000 $195,000 -73.3% 0.2%
    Prosperity Home Mortgage, LLC $195,000 n/a 0.2%
    Stillman BancCorp N.A. $245,000 $195,000 -20.4% 0.2%
    COMMUNITY FINANCIAL CREDIT UNION $140,000 $185,000 32.1% 0.2%
    Northern State Bank $185,000 n/a 0.2%
    MYCUMORTGAGE, LLC $155,000 $175,000 12.9% 0.2%
    NEW DAY FINANCIAL, LLC $925,000 $175,000 -81.1% 0.2%
    Prairie State Bank and Trust $175,000 n/a 0.2%
    Baxter Credit Union $125,000 $155,000 24.0% 0.2%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $155,000 n/a 0.2%
    Core Bank $145,000 n/a 0.1%
    Old National Bank $145,000 n/a 0.1%
    Ally Bank $135,000 n/a 0.1%
    VAN DYK MORTGAGE CORPORATION $135,000 n/a 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $125,000 n/a 0.1%
    HOMESIDE FINANCIAL, LLC $125,000 n/a 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $125,000 n/a 0.1%
    UNION HOME MORTGAGE CORP. $125,000 n/a 0.1%
    Bank of America $280,000 $115,000 -58.9% 0.1%
    FINANCE OF AMERICA MORTGAGE LLC $165,000 $115,000 -30.3% 0.1%
    LIMA ONE CAPITAL, LLC $115,000 n/a 0.1%
    PLAZA HOME MORTGAGE, INC. $115,000 n/a 0.1%
    THE EQUITABLE MORTGAGE CORPORATION $115,000 n/a 0.1%
    TOWNE MORTGAGE COMPANY $115,000 n/a 0.1%
    MORTGAGE CENTER L.C $220,000 $110,000 -50.0% 0.1%
    LAFCU $105,000 n/a 0.1%
    STAUNTON FINANCIAL, INC. $105,000 n/a 0.1%
    The State Bank $105,000 n/a 0.1%
    BROKER SOLUTIONS, INC. $355,000 $95,000 -73.2% 0.1%
    MORTGAGE 1 INCORPORATED $560,000 $95,000 -83.0% 0.1%
    Servion, Inc. $95,000 n/a 0.1%
    UNIVERSITY LENDING GROUP, LLC $245,000 $95,000 -61.2% 0.1%
    LONGBRIDGE FINANCIAL, LLC $85,000 n/a 0.1%
    Discover Bank $130,000 $80,000 -38.5% 0.1%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $75,000 n/a 0.1%
    BMO Harris Bank $550,000 $75,000 -86.4% 0.1%
    CHURCHILL MORTGAGE CORPORATION $200,000 $75,000 -62.5% 0.1%
    DOW CHEMICAL EMPLOYEES' $45,000 $75,000 66.7% 0.1%
    ROYAL UNITED MORTGAGE LLC $150,000 $75,000 -50.0% 0.1%
    Figure Lending LLC $65,000 n/a 0.1%
    PHH Mortgage Corporation $65,000 n/a 0.1%
    RUOFF MORTGAGE COMPANY, INC. $265,000 $65,000 -75.5% 0.1%
    Barrington Bank & Trust Company, N.A. $55,000 n/a 0.1%
    SPRING EQ, LLC $35,000 n/a 0.0%
    CoVantage Credit Union $295,000 $25,000 -91.5% 0.0%

    Houghton's top lender by overall market share is Range Bank, with 17.1% market share. In second place, with 8.1%, is IncredibleBank, having originated $8,345,000 in loans. In third place, with 8.1%, is QUICKEN LOANS, LLC, having originated $8,250,000 in loans. In fourth place, with 4.0%, is Wells Fargo Bank, having originated $4,085,000 in loans. In fifth place, with 2.3%, is The Huntington National Bank, having originated $2,375,000 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 $119,725 (7.4%) $188,033 (18.2%) 0.00 178
    2018-02-01 $123,350 (10.7%) $190,287 (21.0%) 0.00 174
    2018-03-01 $141,450 (18.7%) $205,324 (31.5%) 0.00 173
    2018-04-01 $154,175 (15.1%) $224,134 (29.6%) 0.00 168
    2018-05-01 $153,450 (0.6%) $223,335 (13.8%) 0.00 186
    2018-06-01 $155,000 (11.1%) $214,549 (8.8%) 0.00 249
    2018-07-01 $153,950 (10.5%) $207,390 (4.9%) 0.00 262
    2018-08-01 $147,500 (7.5%) $203,305 (2.6%) 0.00 266
    2018-09-01 $134,950 (4.4%) $190,999 (0.1%) 0.00 255
    2018-10-01 $134,900 (1.1%) $189,560 (-2.7%) 0.00 230
    2018-11-01 $135,925 (-2.2%) $197,032 (-1.6%) 0.00 198
    2018-12-01 $139,000 (10.9%) $198,790 (3.6%) 0.00 170
    2019-01-01 $129,750 (8.4%) $197,414 (5.0%) 0.00 139
    2019-02-01 $127,625 (3.5%) $202,292 (6.3%) 0.00 130
    2019-03-01 $149,000 (5.3%) $215,811 (5.1%) 0.00 122
    2019-04-01 $169,400 (9.9%) $226,864 (1.2%) 0.00 130
    2019-05-01 $157,700 (2.8%) $229,228 (2.6%) 0.00 174
    2019-06-01 $179,000 (15.5%) $226,020 (5.4%) 0.00 216
    2019-07-01 $163,200 (6.0%) $211,166 (1.8%) 0.00 243
    2019-08-01 $154,900 (5.0%) $206,985 (1.8%) 0.00 252
    2019-09-01 $152,400 (12.9%) $199,256 (4.3%) 0.00 251
    2019-10-01 $146,950 (8.9%) $193,118 (1.9%) 0.00 238
    2019-11-01 $139,000 (2.3%) $186,822 (-5.2%) 0.00 207
    2019-12-01 $145,075 (4.4%) $194,571 (-2.1%) 0.00 183
    2020-01-01 $148,850 (14.7%) $193,952 (-1.8%) 0.00 143
    2020-02-01 $153,750 (20.5%) $202,187 (-0.1%) 0.00 126
    2020-03-01 $182,000 (22.2%) $224,898 (4.2%) 0.00 121
    2020-04-01 $170,000 (0.4%) $220,045 (-3.0%) 0.00 126
    2020-05-01 $167,500 (6.2%) $224,321 (-2.1%) 0.00 131
    2020-06-01 $167,125 (-6.6%) $222,174 (-1.7%) 0.00 143
    2020-07-01 $164,950 (1.1%) $226,070 (7.1%) 0.00 150
    2020-08-01 $167,450 (8.1%) $224,107 (8.3%) 0.00 142
    2020-09-01 $169,000 (10.9%) $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 $169,000 (0.9%) $304,516 (35.8%) 0.00 52
    2021-06-01 $159,750 (-4.4%) $270,793 (21.9%) 0.00 79
    2021-07-01 $180,000 (9.1%) $270,080 (19.5%) 0.00 83
    2021-08-01 $163,450 (-2.4%) $250,929 (12.0%) 0.00 78
    2021-09-01 $148,700 (-12.0%) $233,818 (-1.0%) 0.00 72
    2021-10-01 $158,000 (12.9%) $229,167 (-3.7%) 0.00 69
    2021-11-01 $150,000 (7.9%) $280,522 (13.1%) 0.00 56
    2021-12-01 $146,250 (-2.1%) $287,861 (8.3%) 0.00 54
    2022-01-01 $140,000 (1.9%) $322,601 (25.7%) 0.00 37
    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 (10.2%) $410,839 (34.9%) 0.00 23
    2022-06-01 $214,500 (34.3%) $379,879 (40.3%) 0.00 37
    2022-07-01 $247,450 (37.5%) $373,611 (38.3%) 0.00 51
    2022-08-01 $252,400 (54.4%) $357,228 (42.4%) 0.00 57
    2022-09-01 $195,950 (31.8%) $316,628 (35.4%) 0.00 59
    2022-10-01 $177,000 (12.0%) $316,663 (38.2%) 0.00 57
    2022-11-01 $195,500 (30.3%) $329,969 (17.6%) 0.00 49
    2022-12-01 $259,900 (77.7%) $353,161 (22.7%) 0.00 34
    2023-01-01 $242,500 (73.2%) $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
    Houghton's median listing price for 2023-04-01 was $214,000, a difference of $-18,250 (-7.9%) versus the prior year and $-49,750 versus the prior month.

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

    Houghton's average listing price for 2023-04-01 was $348,094, a difference of $-99,777 (-22.3%) versus the prior year and $9,689 versus the prior month.

    For the 2023-04-01 period, Houghton had 35 MLS listings, a difference of 3 listings (9%) versus the prior month and 18 listings (106%) 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 1,568 sqft
    2018-02-01 0 days 1,568 sqft
    2018-03-01 0 days 1,576 sqft
    2018-04-01 0 days 1,592 sqft
    2018-05-01 0 days 1,568 sqft
    2018-06-01 0 days 1,592 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 1,552 sqft
    2018-11-01 0 days 1,543 sqft
    2018-12-01 0 days 1,576 sqft
    2019-01-01 0 days 1,568 sqft
    2019-02-01 0 days 1,585 sqft
    2019-03-01 0 days 1,613 sqft
    2019-04-01 0 days 1,698 sqft
    2019-05-01 0 days 1,694 sqft
    2019-06-01 0 days 1,698 sqft
    2019-07-01 0 days 1,656 sqft
    2019-08-01 0 days 1,649 sqft
    2019-09-01 0 days 1,677 sqft
    2019-10-01 0 days 1,640 sqft
    2019-11-01 0 days 1,649 sqft
    2019-12-01 0 days 1,625 sqft
    2020-01-01 0 days 1,614 sqft
    2020-02-01 0 days 1,588 sqft
    2020-03-01 0 days 1,627 sqft
    2020-04-01 0 days 1,619 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 1,853 sqft
    2021-06-01 0 days 1,640 sqft
    2021-07-01 0 days 1,849 sqft
    2021-08-01 0 days 1,797 sqft
    2021-09-01 0 days 1,824 sqft
    2021-10-01 0 days 1,810 sqft
    2021-11-01 0 days 1,743 sqft
    2021-12-01 0 days 1,758 sqft
    2022-01-01 0 days 1,562 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
    Houghton's median listing age (time on market) for 2023-04-01 was 0 days.

    Houghton's median square footage for active listings during the 2023-04-01 period was 1,840 sqft. One year prior, the average listing was 1,824 sqft.

    Houghton, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 382 $64,580,000 $169,058
    Cash Out Refi 141 $21,255,000 $150,745
    Refi 60 $9,990,000 $166,500
    Home Improvement 35 $4,715,000 $134,714
    Other 22 $1,920,000 $87,273

    Houghton's most frequently cited loan purpose was Home Purchase, with 382 originations. The 2nd most popular reason was Cash Out Refi, with 141 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 193 $30,255,000 $156,762
    4-5% 156 $30,480,000 $195,385
    3-4% 122 $20,240,000 $165,902
    6-7% 89 $11,625,000 $130,618
    7-8% 41 $3,385,000 $82,561
    2.5-3% 30 $5,300,000 $176,667
    Over 8% 5 $205,000 $41,000
    <2.5% 2 $380,000 $190,000

    During 2022, Houghton's most frequently originated rate bucket was 5-6%, with 193 originations.

    Loan Sizing (Houghton, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 265 $37,165,000 $140,245
    $100,000 or less 225 $14,465,000 $64,289
    $200k-400k 120 $32,710,000 $272,583
    $400k-600k 22 $10,080,000 $458,182
    $600k-1000k 6 $4,470,000 $745,000
    $Over $1MM 2 $3,570,000 $1,785,000

    Houghton's loan sizing saw the bucket of loans from $100k-200k with 265 originations, totaling $37,165,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 246 $42,370,000 $172,236
    60-80% 233 $41,535,000 $178,262
    40-60% 86 $11,820,000 $137,442
    20-40% 40 $3,210,000 $80,250
    Under 20% 27 $1,645,000 $60,926
    Over 100% 4 $1,050,000 $262,500

    Houghton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 246 originations, totaling $42,370,000 in origination value.