Houghton Mortgage Rates
30 Year Fixed Rate mortgages in Houghton averaged
5.66%
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
5.67% and
one month ago for the week of 2022-05-26, the
average rate was 5.36%.
Houghton's average rate one year ago was 3.24%.
For refis of the same type during the week of 2022-06-30, the average rate
was 5.75%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2022-06-30 | 5.7% |
Houghton 30 Year Fixed Rate | 2022-06-30 | 5.66% |
Houghton 30 Year Fixed Rate Refi | 2022-06-30 | 5.75% |
Houghton 15 Year Fixed Rate | 2022-06-30 | 4.75% |
Houghton 15 Year Fixed Rate Refi | 2022-06-30 | 4.96% |
Houghton 30 Year FHA | 2022-06-30 | 6.02% |
Houghton 30 Year FHA Refi | 2022-06-30 | 5.58% |
Houghton 30 Year USDA | 2022-06-30 | 5.8% |
Houghton 30 Year VA | 2022-06-30 | 5.59% |
Houghton 30 Year VA Refi | 2022-06-30 | 5.48% |
Houghton 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 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.).
Houghton, MI's 67 lenders originated 683
loans during 2021. The total origination value was $112,575,000, with an average loan value of
$164,824.
The top Houghton lender as defined by loan originations is Range Bank, with
87 loans originated. Their average total fees are
$3,083, which is $500
higher than the next largest lender,
IncredibleBank.
The lowest fee Houghton lenders (with over 10 loans originated) are
Wells Fargo Bank ($2,449), IncredibleBank ($2,583), Range Bank ($3,083), UNITED WHOLESALE MORTGAGE, LLC ($3,615) and QUICKEN LOANS, LLC ($4,477).
The lowest rate Houghton lenders (with over 10 loans originated) are
Range Bank (2.89%), UNITED WHOLESALE MORTGAGE, LLC (3.06%), IncredibleBank (3.14%), Wells Fargo Bank (3.22%) and QUICKEN LOANS, LLC (3.27%).
Houghton, MI 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 |
---|---|---|---|---|
Range Bank | $44,080,000 | $31,435,000 | -28.7% | 27.9% |
QUICKEN LOANS, LLC | $12,595,000 | $14,380,000 | 14.2% | 12.8% |
IncredibleBank | $16,585,000 | $13,695,000 | -17.4% | 12.2% |
Wells Fargo Bank | $5,970,000 | $7,210,000 | 20.8% | 6.4% |
Mortgage Research Center, LLC | $2,205,000 | $4,000,000 | 81.4% | 3.6% |
The Huntington National Bank | $2,720,000 | $3,175,000 | 16.7% | 2.8% |
UNITED WHOLESALE MORTGAGE, LLC | $1,040,000 | $2,885,000 | 177.4% | 2.6% |
mBank | $375,000 | $2,500,000 | 566.7% | 2.2% |
Flagstar Bank, FSB | $645,000 | $1,875,000 | 190.7% | 1.7% |
BETTER MORTGAGE CORPORATION | $180,000 | $1,650,000 | 816.7% | 1.5% |
LAKE MICHIGAN CREDIT UNION | $1,640,000 | $1,415,000 | -13.7% | 1.3% |
FREEDOM MORTGAGE CORPORATION | $2,085,000 | $1,310,000 | -37.2% | 1.2% |
LOANDEPOT.COM, LLC | $1,285,000 | n/a | 1.1% | |
JPMorgan Chase Bank | $1,365,000 | $1,260,000 | -7.7% | 1.1% |
NAVY FEDERAL CREDIT UNION | $390,000 | $1,130,000 | 189.7% | 1.0% |
HOME POINT FINANCIAL CORPORATION | $375,000 | $1,015,000 | 170.7% | 0.9% |
NEW DAY FINANCIAL, LLC | $425,000 | $925,000 | 117.6% | 0.8% |
AMERISAVE MORTGAGE CORPORATION | $330,000 | $905,000 | 174.2% | 0.8% |
Associated Bank | $530,000 | $900,000 | 69.8% | 0.8% |
PNC Bank | $855,000 | $790,000 | -7.6% | 0.7% |
Toyota Financial Savings Bank | $645,000 | $785,000 | 21.7% | 0.7% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $960,000 | $730,000 | -24.0% | 0.6% |
GUARANTEED RATE, INC. | $675,000 | n/a | 0.6% | |
Isabella Bank | $320,000 | $640,000 | 100.0% | 0.6% |
CROSSCOUNTRY MORTGAGE, LLC | $560,000 | n/a | 0.5% | |
MORTGAGE 1 INCORPORATED | $560,000 | n/a | 0.5% | |
BMO Harris Bank | $550,000 | n/a | 0.5% | |
CMG MORTGAGE, INC. | $245,000 | $525,000 | 114.3% | 0.5% |
Mr. Cooper ( Nationstar Mortgage ) | $630,000 | $435,000 | -31.0% | 0.4% |
Wyndham Capital Mortgage, Inc. | $420,000 | n/a | 0.4% | |
Nicolet National Bank | $350,000 | $410,000 | 17.1% | 0.4% |
Charles Schwab Bank, SSB | $375,000 | n/a | 0.3% | |
USAA Federal Savings Bank | $1,185,000 | $370,000 | -68.8% | 0.3% |
U.S. Bank | $665,000 | $360,000 | -45.9% | 0.3% |
BROKER SOLUTIONS, INC. | $55,000 | $355,000 | 545.5% | 0.3% |
Citizens Bank | $85,000 | $350,000 | 311.8% | 0.3% |
SUCCESS MORTGAGE PARTNERS, INC. | $165,000 | $300,000 | 81.8% | 0.3% |
CoVantage Credit Union | $75,000 | $295,000 | 293.3% | 0.3% |
Preston Home Loans Inc | $295,000 | n/a | 0.3% | |
TRUWEST Credit Union | $285,000 | n/a | 0.3% | |
Bank of America | $220,000 | $280,000 | 27.3% | 0.2% |
Bell Bank | $280,000 | n/a | 0.2% | |
GREAT LAKES | $275,000 | n/a | 0.2% | |
COMPASS MORTGAGE, INC. | $265,000 | n/a | 0.2% | |
RUOFF MORTGAGE COMPANY, INC. | $265,000 | n/a | 0.2% | |
WINGS FINANCIAL | $115,000 | $265,000 | 130.4% | 0.2% |
EMM LOANS LLC | $260,000 | n/a | 0.2% | |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $125,000 | $260,000 | 108.0% | 0.2% |
AMERICAN FINANCING CORPORATION | $255,000 | n/a | 0.2% | |
Stillman BancCorp N.A. | $245,000 | n/a | 0.2% | |
UNIVERSITY LENDING GROUP, LLC | $195,000 | $245,000 | 25.6% | 0.2% |
MORTGAGE CENTER L.C | $45,000 | $220,000 | 388.9% | 0.2% |
Fifth Third Bank | $160,000 | $210,000 | 31.3% | 0.2% |
Gate City Bank | $205,000 | n/a | 0.2% | |
CHURCHILL MORTGAGE CORPORATION | $200,000 | n/a | 0.2% | |
Goldwater Bank, N.A. | $195,000 | n/a | 0.2% | |
Honor Credit Union | $410,000 | $190,000 | -53.7% | 0.2% |
FINANCE OF AMERICA REVERSE LLC | $185,000 | n/a | 0.2% | |
First Home Bank | $185,000 | n/a | 0.2% | |
PENNYMAC LOAN SERVICES, LLC | $235,000 | $175,000 | -25.5% | 0.2% |
FINANCE OF AMERICA MORTGAGE LLC | $165,000 | n/a | 0.1% | |
J. VIRGIL, INC. | $165,000 | n/a | 0.1% | |
AMERIFIRST FINANCIAL CORPORATION | $155,000 | n/a | 0.1% | |
Community First National Bank | $155,000 | n/a | 0.1% | |
Independent Bank | $155,000 | n/a | 0.1% | |
MYCUMORTGAGE, LLC | $125,000 | $155,000 | 24.0% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $150,000 | n/a | 0.1% | |
American Bank of the North | $145,000 | n/a | 0.1% | |
Chicago Mortgage Solutions LLC | $145,000 | n/a | 0.1% | |
Citibank | $145,000 | n/a | 0.1% | |
GreenStone Farm Credit Services, FLCA | $1,070,000 | $145,000 | -86.4% | 0.1% |
QUORUM FEDERAL CREDIT UNION | $145,000 | n/a | 0.1% | |
THRIVENT Federal Credit Union | $145,000 | n/a | 0.1% | |
COMMUNITY FINANCIAL CREDIT UNION | $140,000 | n/a | 0.1% | |
NEWREZ LLC | $220,000 | $140,000 | -36.4% | 0.1% |
Bank Five Nine | $135,000 | n/a | 0.1% | |
DFCU FINANCIAL | $135,000 | n/a | 0.1% | |
MICHIGAN MUTUAL, INC. | $135,000 | n/a | 0.1% | |
Discover Bank | $85,000 | $130,000 | 52.9% | 0.1% |
Baxter Credit Union | $125,000 | n/a | 0.1% | |
First Savings Bank | $125,000 | n/a | 0.1% | |
INLANTA MORTGAGE, INC. | $95,000 | $125,000 | 31.6% | 0.1% |
Northpointe Bank | $125,000 | n/a | 0.1% | |
Northwest Federal Credit Union | $115,000 | n/a | 0.1% | |
Truist Bank | $115,000 | n/a | 0.1% | |
ALLIANT CREDIT UNION | $105,000 | n/a | 0.1% | |
Capital Bank | $105,000 | n/a | 0.1% | |
First Guaranty Mortgage Corporation | $165,000 | $105,000 | -36.4% | 0.1% |
ROSS MORTGAGE CORPORATION | $145,000 | $105,000 | -27.6% | 0.1% |
Waterstone Mortgage Corporation | $105,000 | n/a | 0.1% | |
InterContinental Capital Group, Inc | $95,000 | n/a | 0.1% | |
VILLAGE CAPITAL & INVESTMENT LLC | $125,000 | $95,000 | -24.0% | 0.1% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $65,000 | $85,000 | 30.8% | 0.1% |
T2 FINANCIAL LLC | $85,000 | n/a | 0.1% | |
United Bay Community Credit Union | $85,000 | n/a | 0.1% | |
GENISYS | $75,000 | n/a | 0.1% | |
VIBE CREDIT UNION | $55,000 | $75,000 | 36.4% | 0.1% |
MEMBER FIRST MORTGAGE, LLC | $85,000 | $65,000 | -23.5% | 0.1% |
MICHIGAN SCHOOLS AND GOVERNMENT | $85,000 | $55,000 | -35.3% | 0.0% |
NEW ENGLAND FEDERAL CREDIT UNION | $275,000 | $55,000 | -80.0% | 0.0% |
DOW CHEMICAL EMPLOYEES' | $275,000 | $45,000 | -83.6% | 0.0% |
Flanagan State Bank | $45,000 | n/a | 0.0% |
Houghton's top lender by overall market share is Range Bank, with 27.9% market share. In second place, with 12.8%, is QUICKEN LOANS, LLC, having originated $14,380,000 in loans. In third place, with 12.2%, is IncredibleBank, having originated $13,695,000 in loans. In third place, with 6.4%, is Wells Fargo Bank, having originated $7,210,000 in loans. In third place, with 3.6%, is Mortgage Research Center, LLC, having originated $4,000,000 in loans.
Houghton, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 285 | $48,825,000 | $171,316 |
Refi | 208 | $35,420,000 | $170,288 |
Cash Out Refi | 164 | $25,590,000 | $156,037 |
Other | 16 | $1,450,000 | $90,625 |
Home Improvement | 10 | $1,290,000 | $129,000 |
Houghton's most frequently cited loan purpose was Home Purchase, with 285 originations. The 2nd most popular reason was Refi, with 208 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 293 | $47,835,000 | $163,259 |
3-4% | 188 | $29,290,000 | $155,798 |
<2.5% | 162 | $27,620,000 | $170,494 |
4-5% | 29 | $6,945,000 | $239,483 |
5-6% | 7 | $525,000 | $75,000 |
7-8% | 2 | $220,000 | $110,000 |
6-7% | 1 | $55,000 | $55,000 |
During 2021, Houghton's most frequently originated rate bucket was 2.5-3%, with 293 originations.
Loan Sizing (Houghton, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 297 | $42,395,000 | $142,744 |
$100,000 or less | 208 | $14,370,000 | $69,087 |
$200k-400k | 149 | $39,355,000 | $264,128 |
$400k-600k | 23 | $10,905,000 | $474,130 |
$600k-1000k | 4 | $2,990,000 | $747,500 |
$Over $1MM | 2 | $2,560,000 | $1,280,000 |
Houghton's loan sizing saw the bucket of loans from $100k-200k with 297 originations, totaling $42,395,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
60-80% | 264 | $47,800,000 | $181,061 |
80-100% | 256 | $43,550,000 | $170,117 |
40-60% | 110 | $14,840,000 | $134,909 |
20-40% | 29 | $2,575,000 | $88,793 |
Under 20% | 7 | $585,000 | $83,571 |
Over 100% | 4 | $830,000 | $207,500 |
Houghton's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 264 originations, totaling $47,800,000 in origination value.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $137,400 (7.8%) | $192,872 (9.8%) | 0.00 | 144 |
2018-02-01 | $142,700 (10.3%) | $192,836 (10.2%) | 0.00 | 139 |
2018-03-01 | $150,000 (12.8%) | $204,986 (23.1%) | 0.00 | 141 |
2018-04-01 | $169,750 (15.5%) | $231,538 (24.6%) | 0.00 | 133 |
2018-05-01 | $166,200 (-7.2%) | $231,592 (13.3%) | 0.00 | 146 |
2018-06-01 | $164,900 (-3.0%) | $218,933 (5.6%) | 0.00 | 200 |
2018-07-01 | $160,200 (-2.9%) | $215,858 (5.9%) | 0.00 | 214 |
2018-08-01 | $152,450 (-6.1%) | $210,521 (2.6%) | 0.00 | 213 |
2018-09-01 | $149,000 (6.4%) | $204,995 (2.7%) | 0.00 | 201 |
2018-10-01 | $146,450 (-5.5%) | $201,330 (-1.8%) | 0.00 | 182 |
2018-11-01 | $147,000 (-5.2%) | $203,965 (-1.9%) | 0.00 | 154 |
2018-12-01 | $149,900 (0.6%) | $218,193 (8.6%) | 0.00 | 131 |
2019-01-01 | $139,000 (1.2%) | $220,179 (14.2%) | 0.00 | 103 |
2019-02-01 | $136,950 (-4.0%) | $224,989 (16.7%) | 0.00 | 99 |
2019-03-01 | $170,429 (13.6%) | $248,713 (21.3%) | 0.00 | 98 |
2019-04-01 | $197,000 (16.1%) | $257,294 (11.1%) | 0.00 | 104 |
2019-05-01 | $197,000 (18.5%) | $251,290 (8.5%) | 0.00 | 141 |
2019-06-01 | $199,500 (21.0%) | $240,358 (9.8%) | 0.00 | 182 |
2019-07-01 | $179,900 (12.3%) | $225,972 (4.7%) | 0.00 | 203 |
2019-08-01 | $174,814 (14.7%) | $218,399 (3.7%) | 0.00 | 207 |
2019-09-01 | $170,000 (14.1%) | $213,944 (4.4%) | 0.00 | 211 |
2019-10-01 | $156,950 (7.2%) | $203,174 (0.9%) | 0.00 | 195 |
2019-11-01 | $154,900 (5.4%) | $198,528 (-2.7%) | 0.00 | 169 |
2019-12-01 | $159,500 (6.4%) | $210,070 (-3.7%) | 0.00 | 152 |
2020-01-01 | $165,000 (18.7%) | $212,733 (-3.4%) | 0.00 | 120 |
2020-02-01 | $174,000 (27.1%) | $225,212 (0.1%) | 0.00 | 105 |
2020-03-01 | $194,000 (13.8%) | $247,802 (-0.4%) | 0.00 | 102 |
2020-04-01 | $184,450 (-6.4%) | $241,235 (-6.2%) | 0.00 | 108 |
2020-05-01 | $189,000 (-4.1%) | $247,949 (-1.3%) | 0.00 | 113 |
2020-06-01 | $179,900 (-9.8%) | $245,097 (2.0%) | 0.00 | 121 |
2020-07-01 | $179,900 (0.0%) | $250,591 (10.9%) | 0.00 | 128 |
2020-08-01 | $179,900 (2.9%) | $251,192 (15.0%) | 0.00 | 120 |
2020-09-01 | $175,000 (2.9%) | $255,364 (19.4%) | 0.00 | 98 |
2020-10-01 | $164,900 (5.1%) | $261,254 (28.6%) | 0.00 | 73 |
2020-11-01 | $139,000 (-10.3%) | $272,329 (37.2%) | 0.00 | 61 |
2020-12-01 | $162,000 (1.6%) | $284,746 (35.6%) | 0.00 | 43 |
2021-01-01 | $156,500 (-5.2%) | $268,260 (26.1%) | 0.00 | 37 |
2021-02-01 | $152,750 (-12.2%) | $296,112 (31.5%) | 0.00 | 33 |
2021-03-01 | $184,250 (-5.0%) | $362,751 (46.4%) | 0.00 | 28 |
2021-04-01 | $176,860 (-4.1%) | $356,350 (47.7%) | 0.00 | 34 |
2021-05-01 | $179,500 (-5.0%) | $348,059 (40.4%) | 0.00 | 43 |
2021-06-01 | $179,500 (-0.2%) | $300,672 (22.7%) | 0.00 | 65 |
2021-07-01 | $189,500 (5.3%) | $291,915 (16.5%) | 0.00 | 67 |
2021-08-01 | $178,000 (-1.1%) | $284,449 (13.2%) | 0.00 | 55 |
2021-09-01 | $174,900 (-0.1%) | $262,326 (2.7%) | 0.00 | 54 |
2021-10-01 | $174,900 (6.1%) | $243,325 (-6.9%) | 0.00 | 51 |
2021-11-01 | $159,450 (14.7%) | $301,642 (10.8%) | 0.00 | 43 |
2021-12-01 | $159,900 (-1.3%) | $309,747 (8.8%) | 0.00 | 42 |
2022-01-01 | $179,900 (15.0%) | $360,933 (34.6%) | 0.00 | 25 |
2022-02-01 | $215,000 (40.8%) | $569,692 (92.4%) | 0.00 | 12 |
2022-03-01 | $304,900 (65.5%) | $649,149 (79.0%) | 0.00 | 11 |
2022-04-01 | $249,500 (41.1%) | $585,153 (64.2%) | 0.00 | 12 |
2022-05-01 | $234,750 (30.8%) | $511,603 (47.0%) | 0.00 | 18 |
2022-06-01 | $229,950 (28.1%) | $453,413 (50.8%) | 0.00 | 28 |
Houghton's median listing price comes in at 0% of the national average.
Houghton's average listing price for 2022-06-01 was $453,413, a difference of $152,741 (50.8%) versus the prior year and $-58,190 versus the prior month.
For the 2022-06-01 period, Houghton had 28 MLS listings, a difference of 10 listings (56%) versus the prior month and -37 listings (-57%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,660 sqft |
2018-02-01 | 0 days | 1,669 sqft |
2018-03-01 | 0 days | 1,678 sqft |
2018-04-01 | 0 days | 1,700 sqft |
2018-05-01 | 0 days | 1,660 sqft |
2018-06-01 | 0 days | 1,678 sqft |
2018-07-01 | 0 days | 1,658 sqft |
2018-08-01 | 0 days | 1,626 sqft |
2018-09-01 | 0 days | 1,600 sqft |
2018-10-01 | 0 days | 1,581 sqft |
2018-11-01 | 0 days | 1,568 sqft |
2018-12-01 | 0 days | 1,581 sqft |
2019-01-01 | 0 days | 1,602 sqft |
2019-02-01 | 0 days | 1,635 sqft |
2019-03-01 | 0 days | 1,741 sqft |
2019-04-01 | 0 days | 1,813 sqft |
2019-05-01 | 0 days | 1,723 sqft |
2019-06-01 | 0 days | 1,734 sqft |
2019-07-01 | 0 days | 1,714 sqft |
2019-08-01 | 0 days | 1,731 sqft |
2019-09-01 | 0 days | 1,740 sqft |
2019-10-01 | 0 days | 1,712 sqft |
2019-11-01 | 0 days | 1,728 sqft |
2019-12-01 | 0 days | 1,711 sqft |
2020-01-01 | 0 days | 1,712 sqft |
2020-02-01 | 0 days | 1,678 sqft |
2020-03-01 | 0 days | 1,731 sqft |
2020-04-01 | 0 days | 1,728 sqft |
2020-05-01 | 0 days | 1,824 sqft |
2020-06-01 | 0 days | 1,818 sqft |
2020-07-01 | 0 days | 1,838 sqft |
2020-08-01 | 0 days | 1,868 sqft |
2020-09-01 | 0 days | 1,880 sqft |
2020-10-01 | 0 days | 1,624 sqft |
2020-11-01 | 0 days | 1,602 sqft |
2020-12-01 | 0 days | 1,748 sqft |
2021-01-01 | 0 days | 1,644 sqft |
2021-02-01 | 0 days | 1,624 sqft |
2021-03-01 | 0 days | 1,868 sqft |
2021-04-01 | 0 days | 1,916 sqft |
2021-05-01 | 0 days | 1,910 sqft |
2021-06-01 | 0 days | 1,785 sqft |
2021-07-01 | 0 days | 1,868 sqft |
2021-08-01 | 0 days | 1,852 sqft |
2021-09-01 | 0 days | 1,932 sqft |
2021-10-01 | 0 days | 1,852 sqft |
2021-11-01 | 0 days | 1,824 sqft |
2021-12-01 | 0 days | 1,832 sqft |
2022-01-01 | 0 days | 1,508 sqft |
2022-02-01 | 0 days | 1,680 sqft |
2022-03-01 | 0 days | 1,844 sqft |
2022-04-01 | 0 days | 1,819 sqft |
2022-05-01 | 0 days | 1,757 sqft |
2022-06-01 | 0 days | 1,840 sqft |
Houghton's median square footage for active listings during the 2022-06-01 period was 1,840 sqft. One year prior, the average listing was 1,785 sqft.