Indianola Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Indianola averaged 6.62% for the week of 2025-04-10, compared to the national average of 6.62% for the same period.

    The average rate for the prior week (2025-04-03) was 6.64% and one month ago for the week of 2025-03-06, the average rate was 6.43%.

    Indianola's average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-04-10, the average rate was 7.42%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-10 6.62%
    Indianola 30 Year Fixed Rate 2025-04-10 6.62%
    Indianola 30 Year Fixed Rate Refi 2025-04-10 7.42%
    Indianola 15 Year Fixed Rate 2025-04-10 5.62%
    Indianola 15 Year Fixed Rate Refi 2025-04-10 6.12%
    Indianola 30 Year FHA 2025-04-10 6.63%
    Indianola 30 Year FHA Refi 2025-04-10 6.53%
    Indianola 30 Year USDA 2025-04-10 6.25%
    Indianola 30 Year USDA Refi 2025-04-10 6.35%
    Indianola 30 Year VA 2025-04-10 6.49%
    Indianola 30 Year VA Refi 2025-04-10 6.39%
    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    HOPE FEDERAL CREDIT UNION 5 6.48% $3,912
    BancorpSouth 4 6.34% $5,400
    QUICKEN LOANS, LLC 4 6.75% $3,726
    FIRST COMMUNITY MORTGAGE, INC. 2 6.50% $2,799
    Community Bank of Mississippi 2 6.31% $5,348
    JPMorgan Chase Bank 2 5.88% $5,975
    Trustmark National Bank 1 5.88% $5,197
    UNION HOME MORTGAGE CORP. 1 5.63% $9,080
    ACOPIA, LLC 1 5.88% $5,583
    Wells Fargo Bank 1 6.88% $9,012
    Bank of England 1 8.13% $5,600
    Discover Bank 1 8.29% $0
    First Horizon Bank 1 6.25% $3,577
    Princeton Mortgage Corporation 1 6.99% $5,919
    Regions Bank 1 7.00% $5,775

    Indianola Average Closing Costs & Other Stats

    Indianola, MS's 15 lenders originated 268 loans during 2024. The total origination value was $31,180,000, with an average loan value of $116,343.

    Indianola's average closing costs are $4,940.

    The top Indianola lender as defined by loan originations is HOPE FEDERAL CREDIT UNION, with 5 loans originated. Their average total fees are $3,912, which is $1,488 lower than the next largest lender, BancorpSouth.

    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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $7,015,000 n/a 22.5%
    Community Bank of Mississippi $4,235,000 $4,785,000 13.0% 15.3%
    Planters Bank & Trust Company $5,265,000 $4,415,000 -16.1% 14.2%
    BankFirst Financial Services $2,210,000 n/a 7.1%
    QUICKEN LOANS, LLC $1,485,000 $1,600,000 7.7% 5.1%
    Southern Bancorp Bank $1,675,000 $1,485,000 -11.3% 4.8%
    Guaranty Bank and Trust Company $925,000 $1,370,000 48.1% 4.4%
    BancorpSouth $80,000 $1,010,000 1,162.5% 3.2%
    Mortgage Research Center, LLC $115,000 $780,000 578.3% 2.5%
    BankPlus $235,000 $485,000 106.4% 1.6%
    FIRST COMMUNITY MORTGAGE, INC. $455,000 n/a 1.5%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $420,000 n/a 1.3%
    Magnolia Bank $290,000 n/a 0.9%
    UNION HOME MORTGAGE CORP. $285,000 n/a 0.9%
    PriorityOne Bank $275,000 n/a 0.9%
    HOPE FEDERAL CREDIT UNION $270,000 n/a 0.9%
    LAKEVIEW LOAN SERVICING, LLC $245,000 n/a 0.8%
    JPMorgan Chase Bank $240,000 n/a 0.8%
    Wells Fargo Bank $235,000 n/a 0.8%
    Flagstar Bank, FSB $180,000 $230,000 27.8% 0.7%
    Trustmark National Bank $450,000 $230,000 -48.9% 0.7%
    Princeton Mortgage Corporation $215,000 n/a 0.7%
    Nations Lending Corporation $195,000 n/a 0.6%
    BROKER SOLUTIONS, INC. $85,000 $165,000 94.1% 0.5%
    NEW DAY FINANCIAL, LLC $155,000 n/a 0.5%
    PENNYMAC LOAN SERVICES, LLC $245,000 $155,000 -36.7% 0.5%
    Regions Bank $120,000 $150,000 25.0% 0.5%
    Barrington Bank & Trust Company, N.A. $125,000 $145,000 16.0% 0.5%
    TRIAD FINANCIAL SERVICES, INC. $145,000 n/a 0.5%
    LOANDEPOT.COM, LLC $105,000 $130,000 23.8% 0.4%
    EVERETT FINANCIAL, INC. $125,000 n/a 0.4%
    FIDELITY BANK $125,000 n/a 0.4%
    NAVY FEDERAL CREDIT UNION $120,000 n/a 0.4%
    American Mortgage Bank, LLC $110,000 n/a 0.4%
    ACOPIA, LLC $105,000 n/a 0.3%
    Assurance Financial Group, L.L.C. $100,000 n/a 0.3%
    First Horizon Bank $95,000 n/a 0.3%
    Discover Bank $80,000 $85,000 6.3% 0.3%
    NEWREZ LLC $110,000 $80,000 -27.3% 0.3%
    Bank of England $320,000 $55,000 -82.8% 0.2%
    Renasant Bank $245,000 $55,000 -77.6% 0.2%
    Century Mortgage Company DBA Century Lending Company $45,000 n/a 0.1%

    Indianola's top lender by overall market share is BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC, with 22.5% market share. In second place, with 15.3%, is Community Bank of Mississippi, having originated $4,785,000 in loans. In third place, with 14.2%, is Planters Bank & Trust Company, having originated $4,415,000 in loans. In fourth place, with 7.1%, is BankFirst Financial Services, having originated $2,210,000 in loans. In fifth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $1,600,000 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 $64,500 (10.3%) $91,360 (16.9%) 0.00 12
    2018-03-01 $70,000 (16.4%) $93,142 (4.0%) 0.00 12
    2018-04-01 $60,000 (0.0%) $84,382 (-7.5%) 0.00 11
    2018-05-01 $94,500 (38.7%) $100,985 (-14.3%) 0.00 9
    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 (26.9%) $118,628 (29.9%) 0.00 23
    2019-03-01 $75,286 (7.6%) $115,139 (23.6%) 0.00 21
    2019-04-01 $74,161 (23.6%) $106,669 (26.4%) 0.00 20
    2019-05-01 $80,375 (-15.0%) $99,660 (-1.3%) 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%) $159,366 (47.5%) 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
    2023-09-01 $162,000 (21.4%) $394,043 (204.3%) 0.00 28
    2023-10-01 $157,000 (6.1%) $397,921 (130.2%) 0.00 28
    2023-11-01 $154,500 (-0.4%) $407,917 (111.8%) 0.00 27
    2023-12-01 $152,500 (-4.7%) $395,304 (116.9%) 0.00 29
    2024-01-01 $152,500 (0.0%) $369,569 (121.2%) 0.00 33
    2024-02-01 $152,000 (1.3%) $375,285 (135.5%) 0.00 28
    2024-03-01 $176,750 (4.1%) $516,784 (198.6%) 0.00 23
    2024-04-01 $175,000 (2.9%) $508,503 (185.6%) 0.00 23
    2024-05-01 $180,100 (8.6%) $542,550 (232.7%) 0.00 23
    2024-06-01 $190,500 (33.7%) $574,876 (277.0%) 0.00 22
    2024-07-01 $188,725 (30.2%) $466,463 (203.0%) 0.00 26
    2024-08-01 $194,500 (20.1%) $489,536 (29.3%) 0.00 28
    2024-09-01 $194,000 (19.8%) $384,193 (-2.5%) 0.00 27
    2024-10-01 $196,875 (25.4%) $486,986 (22.4%) 0.00 30
    2024-11-01 $204,300 (32.2%) $457,331 (12.1%) 0.00 31
    2024-12-01 $193,500 (26.9%) $264,749 (-33.0%) 0.00 33
    Indianola's median listing price for 2024-12-01 was $193,500, a difference of $41,000 (26.9%) versus the prior year and $-10,800 versus the prior month.

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

    Indianola's average listing price for 2024-12-01 was $264,749, a difference of $-130,555 (-33.0%) versus the prior year and $-192,582 versus the prior month.

    For the 2024-12-01 period, Indianola had 33 MLS listings, a difference of 2 listings (6%) versus the prior month and 4 listings (14%) 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 1,309 sqft
    2018-02-01 0 days 1,292 sqft
    2018-03-01 0 days 1,309 sqft
    2018-04-01 0 days 1,596 sqft
    2018-05-01 0 days 1,763 sqft
    2018-06-01 0 days 1,846 sqft
    2018-07-01 0 days 1,855 sqft
    2018-08-01 0 days 1,816 sqft
    2018-09-01 0 days 1,751 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
    2023-09-01 0 days 2,035 sqft
    2023-10-01 0 days 2,090 sqft
    2023-11-01 0 days 2,046 sqft
    2023-12-01 0 days 2,178 sqft
    2024-01-01 0 days 2,178 sqft
    2024-02-01 0 days 2,131 sqft
    2024-03-01 0 days 2,222 sqft
    2024-04-01 0 days 2,072 sqft
    2024-05-01 0 days 2,293 sqft
    2024-06-01 0 days 2,280 sqft
    2024-07-01 0 days 2,210 sqft
    2024-08-01 0 days 2,219 sqft
    2024-09-01 0 days 2,219 sqft
    2024-10-01 0 days 2,280 sqft
    2024-11-01 0 days 2,289 sqft
    2024-12-01 0 days 2,072 sqft
    Indianola's median listing age (time on market) for 2024-12-01 was 0 days.

    Indianola's median square footage for active listings during the 2024-12-01 period was 2,072 sqft. One year prior, the average listing was 2,178 sqft.

    Indianola, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Refi 116 $6,500,000 $56,034
    Home Purchase 99 $14,105,000 $142,475
    Home Improvement 24 $1,150,000 $47,917
    Other 19 $1,245,000 $65,526
    Cash Out Refi 9 $1,165,000 $129,444
    NA 1 $7,015,000 $7,015,000

    Indianola's most frequently cited loan purpose was Refi, with 116 originations. The 2nd most popular reason was Home Purchase, with 99 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    Over 8% 147 $9,505,000 $64,660
    6-7% 51 $5,885,000 $115,392
    7-8% 29 $5,385,000 $185,690
    5-6% 15 $1,935,000 $129,000
    <2.5% 6 $60,000 $10,000
    4-5% 1 $25,000 $25,000

    During 2024, Indianola's most frequently originated rate bucket was Over 8%, with 147 originations.

    Loan Sizing (Indianola, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 181 $7,825,000 $43,232
    $100k-200k 64 $8,460,000 $132,188
    $200k-400k 18 $4,710,000 $261,667
    $400k-600k 2 $960,000 $480,000
    $Over $1MM 2 $8,340,000 $4,170,000
    $600k-1000k 1 $885,000 $885,000

    Indianola's loan sizing saw the bucket of loans from $100,000 or less with 181 originations, totaling $7,825,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 71 $10,285,000 $144,859
    60-80% 63 $7,745,000 $122,937
    20-40% 50 $1,860,000 $37,200
    40-60% 34 $2,040,000 $60,000
    Under 20% 21 $355,000 $16,905
    Over 100% 2 $240,000 $120,000

    Indianola's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 71 originations, totaling $10,285,000 in origination value.