Indianola Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Indianola averaged 7.39% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 7.08% and one month ago for the week of 2023-08-17, the average rate was 7.09%.

Indianola's average rate one year ago was 5.82%.

For refis of the same type during the week of 2023-09-21, the average rate was 7.19%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Indianola 30 Year Fixed Rate 2023-09-21 7.39%
Indianola 30 Year Fixed Rate Refi 2023-09-21 7.19%
Indianola 15 Year Fixed Rate 2023-09-21 6.74%
Indianola 15 Year Fixed Rate Refi 2023-09-21 6.54%
Indianola 30 Year FHA 2023-09-21 6.94%
Indianola 30 Year FHA Refi 2023-09-21 6.84%
Indianola 30 Year USDA 2023-09-21 7.12%
Indianola 30 Year USDA Refi 2023-09-21 6.92%
Indianola 30 Year VA 2023-09-21 6.72%
Indianola 30 Year VA Refi 2023-09-21 6.92%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Indianola, MS.

Indianola 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 Indianola, 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
QUICKEN LOANS, LLC 5 5.05% $4,751
Community Bank of Mississippi 3 5.13% $3,440
BancorpSouth 2 5.06% $2,839
GUARANTY HOME MORTGAGE CORPORATION 2 5.13% $5,129
HOPE FEDERAL CREDIT UNION 2 5.63% $4,355
Wells Fargo Bank 2 3.94% $3,867
UNITED WHOLESALE MORTGAGE, LLC 1 5.50% $6,491
LOANDEPOT.COM, LLC 1 2.99% $5,399
Paramount Residential Mortgage Group, Inc. 1 6.63% $4,861
BankPlus 1 4.00% $3,224
Regions Bank 1 6.50% $0
RIVERLAND FEDERAL CREDIT UNION 1 4.13% $8,046
Barrington Bank & Trust Company, N.A. 1 7.13% $3,550
Trustmark National Bank 1 5.88% $2,137
HOME POINT FINANCIAL CORPORATION 1 2.99% $4,833

Indianola Average Closing Costs & Other Stats

Indianola, MS's 15 lenders originated 301 loans during 2022. The total origination value was $26,965,000, with an average loan value of $89,585.

Indianola's average closing costs are $4,727.

The top Indianola lender as defined by loan originations is QUICKEN LOANS, LLC, with 5 loans originated. Their average total fees are $4,751, which is $1,311 higher than the next largest lender, Community Bank of Mississippi.

The lowest fee Indianola lenders (with over 10 loans originated) are .

The lowest rate Indianola lenders (with over 10 loans originated) are .

Indianola, 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
Planters Bank & Trust Company $7,755,000 $4,980,000 -35.8% 18.5%
Community Bank of Mississippi $8,590,000 $4,720,000 -45.1% 17.5%
Southern Bancorp Bank $2,250,000 $3,820,000 69.8% 14.2%
QUICKEN LOANS, LLC $4,230,000 $2,720,000 -35.7% 10.1%
Guaranty Bank and Trust Company $1,675,000 $1,035,000 -38.2% 3.8%
Mortgage Research Center, LLC $430,000 $700,000 62.8% 2.6%
PriorityOne Bank $2,835,000 $675,000 -76.2% 2.5%
BankPlus $1,425,000 $610,000 -57.2% 2.3%
LOANDEPOT.COM, LLC $240,000 $560,000 133.3% 2.1%
Regions Bank $325,000 $485,000 49.2% 1.8%
Wells Fargo Bank $225,000 $410,000 82.2% 1.5%
BancorpSouth Bank $1,210,000 $385,000 -68.2% 1.4%
HOPE FEDERAL CREDIT UNION $265,000 $350,000 32.1% 1.3%
Baxter Credit Union $525,000 $340,000 -35.2% 1.3%
UNITED WHOLESALE MORTGAGE, LLC $385,000 $320,000 -16.9% 1.2%
Trustmark National Bank $840,000 $260,000 -69.0% 1.0%
ATLANTA POSTAL $255,000 n/a 0.9%
Northpointe Bank $255,000 n/a 0.9%
Renasant Bank $75,000 $245,000 226.7% 0.9%
RIVERLAND FEDERAL CREDIT UNION $245,000 n/a 0.9%
FirstBank $220,000 n/a 0.8%
GUARANTY HOME MORTGAGE CORPORATION $210,000 n/a 0.8%
Lakeview Community Capital, LLC $205,000 n/a 0.8%
NEWREZ LLC $45,000 $200,000 344.4% 0.7%
Barrington Bank & Trust Company, N.A. $265,000 $195,000 -26.4% 0.7%
Magnolia Bank $1,715,000 $175,000 -89.8% 0.6%
PRIMARY RESIDENTIAL MORTGAGE, INC. $165,000 n/a 0.6%
SECURITYNATIONAL MORTGAGE COMPANY $165,000 n/a 0.6%
EVERETT FINANCIAL, INC. $155,000 n/a 0.6%
PENNYMAC LOAN SERVICES, LLC $320,000 $145,000 -54.7% 0.5%
HOME POINT FINANCIAL CORPORATION $135,000 n/a 0.5%
MUTUAL OF OMAHA MORTGAGE, INC. $135,000 n/a 0.5%
Citizens Bank $250,000 $125,000 -50.0% 0.5%
HOMESTAR FINANCIAL CORPORATION $115,000 n/a 0.4%
AMERISAVE MORTGAGE CORPORATION $85,000 $105,000 23.5% 0.4%
BROKER SOLUTIONS, INC. $255,000 $105,000 -58.8% 0.4%
AMERICAN FINANCING CORPORATION $95,000 n/a 0.4%
HOMESIDE FINANCIAL, LLC $95,000 n/a 0.4%
LIBERTY HOME MORTGAGE CORPORATION $95,000 n/a 0.4%
CSL Financial, LLC $85,000 n/a 0.3%
Flagstar Bank, FSB $85,000 n/a 0.3%
ROYAL UNITED MORTGAGE LLC $255,000 $85,000 -66.7% 0.3%
AMERICAN ADVISORS GROUP $75,000 n/a 0.3%
CALIBER HOME LOANS, INC. $210,000 $75,000 -64.3% 0.3%
FINANCE OF AMERICA MORTGAGE LLC $75,000 n/a 0.3%
FREEDOM MORTGAGE CORPORATION $1,060,000 $75,000 -92.9% 0.3%
JPMorgan Chase Bank $65,000 n/a 0.2%
Paramount Residential Mortgage Group, Inc. $55,000 n/a 0.2%
Peoples Bank $55,000 n/a 0.2%
CB&S Bank, Inc. $25,000 n/a 0.1%

Indianola's top lender by overall market share is Planters Bank & Trust Company, with 18.5% market share. In second place, with 17.5%, is Community Bank of Mississippi, having originated $4,720,000 in loans. In third place, with 14.2%, is Southern Bancorp Bank, having originated $3,820,000 in loans. In fourth place, with 10.1%, is QUICKEN LOANS, LLC, having originated $2,720,000 in loans. In fifth place, with 3.8%, is Guaranty Bank and Trust Company, having originated $1,035,000 in loans.


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

Realtor.com - Indianola (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 $49,750 (-21.5%) $87,609 (22.8%) 0.00 11
2018-02-01 $63,000 (7.7%) $90,032 (15.2%) 0.00 11
2018-03-01 $60,000 (-0.3%) $89,973 (0.5%) 0.00 11
2018-04-01 $60,000 (0.0%) $79,973 (-12.4%) 0.00 10
2018-05-01 $77,500 (13.8%) $97,983 (-16.9%) 0.00 8
2018-06-01 $85,000 (6.3%) $106,836 (-13.0%) 0.00 9
2018-07-01 $95,000 (46.2%) $115,522 (0.5%) 0.00 8
2018-08-01 $113,750 (75.0%) $122,389 (3.1%) 0.00 8
2018-09-01 $92,500 (37.0%) $97,280 (-14.1%) 0.00 10
2018-10-01 $92,500 (105.6%) $115,504 (22.9%) 0.00 13
2018-11-01 $88,250 (96.1%) $115,639 (27.3%) 0.00 17
2018-12-01 $85,000 (56.0%) $116,775 (19.2%) 0.00 23
2019-01-01 $78,125 (57.0%) $109,856 (25.4%) 0.00 26
2019-02-01 $81,875 (30.0%) $118,628 (31.8%) 0.00 23
2019-03-01 $75,286 (25.5%) $115,139 (28.0%) 0.00 21
2019-04-01 $74,161 (23.6%) $106,669 (33.4%) 0.00 20
2019-05-01 $80,375 (3.7%) $99,660 (1.7%) 0.00 28
2019-06-01 $92,000 (8.2%) $98,345 (-8.0%) 0.00 20
2019-07-01 $90,875 (-4.3%) $93,729 (-18.9%) 0.00 17
2019-08-01 $88,273 (-22.4%) $91,865 (-24.9%) 0.00 17
2019-09-01 $86,432 (-6.6%) $96,974 (-0.3%) 0.00 20
2019-10-01 $85,205 (-7.9%) $103,524 (-10.4%) 0.00 21
2019-11-01 $87,250 (-1.1%) $111,898 (-3.2%) 0.00 23
2019-12-01 $85,000 (0.0%) $110,730 (-5.2%) 0.00 27
2020-01-01 $88,625 (13.4%) $112,499 (2.4%) 0.00 26
2020-02-01 $89,500 (9.3%) $109,129 (-8.0%) 0.00 28
2020-03-01 $83,650 (11.1%) $101,522 (-11.8%) 0.00 32
2020-04-01 $85,000 (14.6%) $108,029 (1.3%) 0.00 28
2020-05-01 $79,000 (-1.7%) $97,137 (-2.5%) 0.00 26
2020-06-01 $78,250 (-15.0%) $108,149 (10.0%) 0.00 24
2020-07-01 $77,500 (-14.7%) $113,856 (21.5%) 0.00 22
2020-08-01 $106,000 (20.1%) $138,506 (50.8%) 0.00 18
2020-09-01 $118,750 (37.4%) $132,916 (37.1%) 0.00 20
2020-10-01 $121,750 (42.9%) $137,382 (32.7%) 0.00 21
2020-11-01 $112,000 (28.4%) $152,159 (36.0%) 0.00 21
2020-12-01 $112,500 (32.4%) $146,366 (32.2%) 0.00 25
2021-01-01 $108,750 (22.7%) $144,455 (28.4%) 0.00 24
2021-02-01 $120,000 (34.1%) $148,723 (36.3%) 0.00 22
2021-03-01 $127,375 (52.3%) $156,958 (54.6%) 0.00 21
2021-04-01 $134,125 (57.8%) $159,011 (47.2%) 0.00 21
2021-05-01 $145,600 (84.3%) $171,622 (76.7%) 0.00 15
2021-06-01 $107,250 (37.1%) $149,115 (37.9%) 0.00 19
2021-07-01 $86,000 (11.0%) $159,245 (39.9%) 0.00 20
2021-08-01 $88,750 (-16.3%) $134,086 (-3.2%) 0.00 21
2021-09-01 $71,225 (-40.0%) $120,588 (-9.3%) 0.00 18
2021-10-01 $157,500 (29.4%) $154,573 (12.5%) 0.00 10
2021-11-01 $125,000 (11.6%) $154,076 (1.3%) 0.00 11
2021-12-01 $89,900 (-20.1%) $125,556 (-14.2%) 0.00 12
2022-01-01 $122,000 (12.2%) $125,811 (-12.9%) 0.00 15
2022-02-01 $121,000 (0.8%) $108,065 (-27.3%) 0.00 17
2022-03-01 $125,000 (-1.9%) $105,922 (-32.5%) 0.00 14
2022-04-01 $145,000 (8.1%) $140,238 (-11.8%) 0.00 14
2022-05-01 $145,000 (-0.4%) $148,964 (-13.2%) 0.00 17
2022-06-01 $139,750 (30.3%) $152,992 (2.6%) 0.00 14
2022-07-01 $139,000 (61.6%) $140,731 (-11.6%) 0.00 13
2022-08-01 $144,250 (62.5%) $148,011 (10.4%) 0.00 14
2022-09-01 $133,450 (87.4%) $129,480 (7.4%) 0.00 13
2022-10-01 $148,000 (-6.0%) $172,869 (11.8%) 0.00 15
2022-11-01 $155,125 (24.1%) $192,642 (25.0%) 0.00 18
2022-12-01 $160,000 (78.0%) $182,239 (45.2%) 0.00 18
2023-01-01 $152,500 (25.0%) $167,110 (32.8%) 0.00 20
2023-02-01 $150,000 (24.0%) $159,086 (47.2%) 0.00 22
2023-03-01 $169,750 (35.8%) $173,047 (63.4%) 0.00 27
2023-04-01 $170,000 (17.2%) $178,081 (27.0%) 0.00 28
2023-05-01 $165,800 (14.3%) $163,063 (9.5%) 0.00 30
2023-06-01 $142,500 (2.0%) $152,494 (-0.3%) 0.00 33
2023-07-01 $145,000 (4.3%) $153,972 (9.4%) 0.00 29
2023-08-01 $162,000 (12.3%) $378,500 (155.7%) 0.00 31
Indianola's median listing price for 2023-08-01 was $162,000, a difference of $17,750 (12.3%) versus the prior year and $17,000 versus the prior month.

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

Indianola's average listing price for 2023-08-01 was $378,500, a difference of $230,489 (155.7%) versus the prior year and $224,528 versus the prior month.

For the 2023-08-01 period, Indianola had 31 MLS listings, a difference of 2 listings (7%) versus the prior month and 17 listings (121%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Indianola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,377 sqft
2018-02-01 0 days 1,242 sqft
2018-03-01 0 days 1,242 sqft
2018-04-01 0 days 1,445 sqft
2018-05-01 0 days 1,679 sqft
2018-06-01 0 days 1,846 sqft
2018-07-01 0 days 1,855 sqft
2018-08-01 0 days 1,823 sqft
2018-09-01 0 days 1,759 sqft
2018-10-01 0 days 1,749 sqft
2018-11-01 0 days 1,636 sqft
2018-12-01 0 days 1,664 sqft
2019-01-01 0 days 1,718 sqft
2019-02-01 0 days 1,821 sqft
2019-03-01 0 days 1,825 sqft
2019-04-01 0 days 1,744 sqft
2019-05-01 0 days 1,669 sqft
2019-06-01 0 days 1,636 sqft
2019-07-01 0 days 1,632 sqft
2019-08-01 0 days 1,504 sqft
2019-09-01 0 days 1,571 sqft
2019-10-01 0 days 1,710 sqft
2019-11-01 0 days 1,828 sqft
2019-12-01 0 days 1,796 sqft
2020-01-01 0 days 1,793 sqft
2020-02-01 0 days 1,702 sqft
2020-03-01 0 days 1,747 sqft
2020-04-01 0 days 1,786 sqft
2020-05-01 0 days 1,665 sqft
2020-06-01 0 days 1,636 sqft
2020-07-01 0 days 1,551 sqft
2020-08-01 0 days 1,965 sqft
2020-09-01 0 days 1,925 sqft
2020-10-01 0 days 1,925 sqft
2020-11-01 0 days 2,234 sqft
2020-12-01 0 days 2,312 sqft
2021-01-01 0 days 2,058 sqft
2021-02-01 0 days 2,004 sqft
2021-03-01 0 days 1,969 sqft
2021-04-01 0 days 2,178 sqft
2021-05-01 0 days 2,265 sqft
2021-06-01 0 days 2,095 sqft
2021-07-01 0 days 2,050 sqft
2021-08-01 0 days 1,824 sqft
2021-09-01 0 days 1,818 sqft
2021-10-01 0 days 1,828 sqft
2021-11-01 0 days 1,824 sqft
2021-12-01 0 days 1,552 sqft
2022-01-01 0 days 1,606 sqft
2022-02-01 0 days 1,589 sqft
2022-03-01 0 days 1,552 sqft
2022-04-01 0 days 1,785 sqft
2022-05-01 0 days 1,785 sqft
2022-06-01 0 days 1,800 sqft
2022-07-01 0 days 1,589 sqft
2022-08-01 0 days 1,818 sqft
2022-09-01 0 days 1,818 sqft
2022-10-01 0 days 2,193 sqft
2022-11-01 0 days 2,285 sqft
2022-12-01 0 days 2,285 sqft
2023-01-01 0 days 2,028 sqft
2023-02-01 0 days 2,068 sqft
2023-03-01 0 days 2,224 sqft
2023-04-01 0 days 2,225 sqft
2023-05-01 0 days 1,960 sqft
2023-06-01 0 days 1,920 sqft
2023-07-01 0 days 2,058 sqft
2023-08-01 0 days 2,047 sqft
Indianola's median listing age (time on market) for 2023-08-01 was 0 days.

Indianola's median square footage for active listings during the 2023-08-01 period was 2,047 sqft. One year prior, the average listing was 1,818 sqft.

Indianola, MS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Refi 127 $10,055,000 $79,173
Home Purchase 104 $10,370,000 $99,712
Cash Out Refi 35 $4,365,000 $124,714
Home Improvement 24 $1,590,000 $66,250
Other 11 $585,000 $53,182

Indianola's most frequently cited loan purpose was Refi, with 127 originations. The 2nd most popular reason was Home Purchase, with 104 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 78 $7,950,000 $101,923
6-7% 63 $4,305,000 $68,333
4-5% 63 $6,145,000 $97,540
3-4% 34 $3,720,000 $109,412
7-8% 27 $2,285,000 $84,630
Over 8% 16 $750,000 $46,875
2.5-3% 11 $1,475,000 $134,091
<2.5% 8 $310,000 $38,750

During 2022, Indianola's most frequently originated rate bucket was 5-6%, with 78 originations.

Loan Sizing (Indianola, MS MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 199 $9,575,000 $48,116
$100k-200k 81 $11,095,000 $136,975
$200k-400k 17 $4,325,000 $254,412
$400k-600k 3 $1,305,000 $435,000
$600k-1000k 1 $665,000 $665,000

Indianola's loan sizing saw the bucket of loans from $100,000 or less with 199 originations, totaling $9,575,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 98 $11,960,000 $122,041
60-80% 94 $8,510,000 $90,532
40-60% 57 $4,355,000 $76,404
20-40% 31 $1,165,000 $37,581
Under 20% 14 $330,000 $23,571
Over 100% 4 $520,000 $130,000

Indianola's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 98 originations, totaling $11,960,000 in origination value.