Indianola Mortgage Rates

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

    30 Year Fixed Rate mortgages in Indianola averaged 6.17% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

    The average rate for the prior week (2022-06-16) was 6.24% and one month ago for the week of 2022-05-19, the average rate was 5.61%.

    Indianola's average rate one year ago was 3.48%.

    For refis of the same type during the week of 2022-06-23, the average rate was 6.16%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-23 5.81%
    Indianola 30 Year Fixed Rate 2022-06-23 6.17%
    Indianola 30 Year Fixed Rate Refi 2022-06-23 6.16%
    Indianola 15 Year Fixed Rate 2022-06-23 5.04%
    Indianola 15 Year Fixed Rate Refi 2022-06-23 5.24%
    Indianola 30 Year FHA 2022-06-23 0.18%
    Indianola 30 Year FHA Refi 2022-06-23 0.46%
    Indianola 30 Year USDA 2022-06-23 0.11%
    Indianola 30 Year USDA Refi 2022-06-23 -0.21%
    Indianola 30 Year VA 2022-06-23 0.69%
    Indianola 30 Year VA Refi 2022-06-23 0.47%
    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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 10 3.22% $5,127
    Community Bank of Mississippi 9 3.11% $3,855
    Magnolia Bank 6 3.25% $6,096
    Baxter Credit Union 3 3.25% $3,506
    CRESCENT MORTGAGE COMPANY 3 2.92% $5,154
    HOPE FEDERAL CREDIT UNION 3 4.75% $4,727
    Trustmark National Bank 2 3.63% $3,546
    LOANDEPOT.COM, LLC 2 3.44% $4,136
    ROYAL UNITED MORTGAGE LLC 1 3.25% $6,582
    Simmons Bank 1 3.00% $2,456
    UNITED WHOLESALE MORTGAGE, LLC 1 3.50% $4,487
    BankPlus 1 3.00% $2,365
    Wells Fargo Bank 1 3.25% $2,755
    BROKER SOLUTIONS, INC. 1 4.00% $6,257
    CORNERSTONE HOME LENDING, INC. 1 3.88% $5,160
    FIRST COMMUNITY MORTGAGE, INC. 1 3.13% $3,426
    INTERLINC MORTGAGE SERVICES, LLC 1 3.37% $4,780
    JUSTICE Federal Credit Union 1 3.00% $8,313
    MOVEMENT MORTGAGE, LLC 1 4.25% $3,456
    Regions Bank 1 3.63% $3,641

    Indianola, MS's 20 lenders originated 373 loans during 2021. The total origination value was $42,515,000, with an average loan value of $113,981.

    The top Indianola lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 loans originated. Their average total fees are $5,127, which is $1,271 higher than the next largest lender, Community Bank of Mississippi.

    The lowest fee Indianola lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($5,127), .

    The lowest rate Indianola lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.22%), .

    Indianola, MS 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
    Community Bank of Mississippi $8,540,000 $8,590,000 0.6% 20.2%
    Planters Bank & Trust Company $6,035,000 $7,755,000 28.5% 18.2%
    QUICKEN LOANS, LLC $2,350,000 $4,230,000 80.0% 9.9%
    PriorityOne Bank $3,445,000 $2,835,000 -17.7% 6.7%
    Southern Bancorp Bank $1,725,000 $2,250,000 30.4% 5.3%
    Magnolia Bank $1,390,000 $1,715,000 23.4% 4.0%
    Guaranty Bank and Trust Company $1,500,000 $1,675,000 11.7% 3.9%
    BankPlus $405,000 $1,425,000 251.9% 3.4%
    BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $1,275,000 n/a 3.0%
    BancorpSouth Bank $795,000 $1,210,000 52.2% 2.8%
    FREEDOM MORTGAGE CORPORATION $895,000 $1,060,000 18.4% 2.5%
    Trustmark National Bank $495,000 $840,000 69.7% 2.0%
    CRESCENT MORTGAGE COMPANY $610,000 n/a 1.4%
    Baxter Credit Union $575,000 $525,000 -8.7% 1.2%
    Mortgage Research Center, LLC $155,000 $430,000 177.4% 1.0%
    UNITED WHOLESALE MORTGAGE, LLC $125,000 $385,000 208.0% 0.9%
    INTERLINC MORTGAGE SERVICES, LLC $365,000 n/a 0.9%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $195,000 $330,000 69.2% 0.8%
    Regions Bank $560,000 $325,000 -42.0% 0.8%
    PENNYMAC LOAN SERVICES, LLC $95,000 $320,000 236.8% 0.8%
    JUSTICE Federal Credit Union $305,000 n/a 0.7%
    FIDELITY BANK $115,000 $280,000 143.5% 0.7%
    Barrington Bank & Trust Company, N.A. $85,000 $265,000 211.8% 0.6%
    HOPE FEDERAL CREDIT UNION $200,000 $265,000 32.5% 0.6%
    BROKER SOLUTIONS, INC. $255,000 n/a 0.6%
    ROYAL UNITED MORTGAGE LLC $75,000 $255,000 240.0% 0.6%
    Citizens Bank $115,000 $250,000 117.4% 0.6%
    LOANDEPOT.COM, LLC $465,000 $240,000 -48.4% 0.6%
    ACCELERATE MORTGAGE, LLC $225,000 n/a 0.5%
    Wells Fargo Bank $280,000 $225,000 -19.6% 0.5%
    CALIBER HOME LOANS, INC. $210,000 n/a 0.5%
    CORNERSTONE HOME LENDING, INC. $135,000 $195,000 44.4% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $675,000 $170,000 -74.8% 0.4%
    TRIAD FINANCIAL SERVICES, INC. $210,000 $165,000 -21.4% 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $160,000 n/a 0.4%
    21ST MORTGAGE CORPORATION $195,000 $150,000 -23.1% 0.4%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $115,000 n/a 0.3%
    AMERISAVE MORTGAGE CORPORATION $85,000 n/a 0.2%
    VILLAGE CAPITAL & INVESTMENT LLC $85,000 n/a 0.2%
    Austin Capital Bank SSB $75,000 n/a 0.2%
    FIRST COMMUNITY MORTGAGE, INC. $75,000 n/a 0.2%
    Renasant Bank $1,125,000 $75,000 -93.3% 0.2%
    Simmons Bank $75,000 n/a 0.2%
    MOVEMENT MORTGAGE, LLC $55,000 $65,000 18.2% 0.2%
    Origin Bank $55,000 n/a 0.1%
    NEWREZ LLC $95,000 $45,000 -52.6% 0.1%

    Indianola's top lender by overall market share is Community Bank of Mississippi, with 20.2% market share. In second place, with 18.2%, is Planters Bank & Trust Company, having originated $7,755,000 in loans. In third place, with 9.9%, is QUICKEN LOANS, LLC, having originated $4,230,000 in loans. In third place, with 6.7%, is PriorityOne Bank, having originated $2,835,000 in loans. In third place, with 5.3%, is Southern Bancorp Bank, having originated $2,250,000 in loans.

    Indianola, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Refi 214 $23,670,000 $110,607
    Home Purchase 125 $15,395,000 $123,160
    Cash Out Refi 16 $2,510,000 $156,875
    Home Improvement 13 $585,000 $45,000
    Other 5 $355,000 $71,000

    Indianola's most frequently cited loan purpose was Refi, with 214 originations. The 2nd most popular reason was Home Purchase, with 125 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    4-5% 118 $9,510,000 $80,593
    3-4% 75 $9,715,000 $129,533
    2.5-3% 73 $11,605,000 $158,973
    5-6% 44 $3,260,000 $74,091
    <2.5% 28 $3,820,000 $136,429
    6-7% 16 $1,250,000 $78,125
    7-8% 3 $255,000 $85,000
    Over 8% 2 $150,000 $75,000

    During 2021, Indianola's most frequently originated rate bucket was 4-5%, with 118 originations.

    Loan Sizing (Indianola, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 220 $11,270,000 $51,227
    $100k-200k 100 $14,180,000 $141,800
    $200k-400k 44 $11,400,000 $259,091
    $400k-600k 6 $2,730,000 $455,000
    $600k-1000k 2 $1,660,000 $830,000
    $Over $1MM 1 $1,275,000 $1,275,000

    Indianola's loan sizing saw the bucket of loans from $100,000 or less with 220 originations, totaling $11,270,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 136 $17,670,000 $129,926
    60-80% 119 $14,135,000 $118,782
    40-60% 47 $3,955,000 $84,149
    20-40% 31 $2,005,000 $64,677
    Under 20% 14 $230,000 $16,429
    Over 100% 5 $485,000 $97,000

    Indianola's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 136 originations, totaling $17,670,000 in origination value.

    Market Conditions (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 $45,000 (-30.8%) $80,127 (17.2%) 0.00 10
    2018-02-01 $67,000 (14.5%) $88,365 (14.7%) 0.00 10
    2018-03-01 $99,900 (64.6%) $96,336 (5.6%) 0.00 10
    2018-04-01 $82,500 (45.0%) $85,321 (-7.9%) 0.00 7
    2018-05-01 $112,500 (105.5%) $107,350 (7.1%) 0.00 7
    2018-06-01 $95,000 (2.7%) $108,043 (-1.8%) 0.00 7
    2018-07-01 $95,000 (111.1%) $108,671 (4.7%) 0.00 6
    2018-08-01 $122,500 (172.2%) $124,398 (21.2%) 0.00 5
    2018-09-01 $95,000 (111.1%) $91,871 (9.0%) 0.00 7
    2018-10-01 $97,250 (116.1%) $119,697 (191.5%) 0.00 11
    2018-11-01 $96,500 (114.4%) $117,789 (152.4%) 0.00 17
    2018-12-01 $85,000 (32.8%) $117,054 (33.0%) 0.00 23
    2019-01-01 $81,250 (80.6%) $110,978 (38.5%) 0.00 25
    2019-02-01 $82,500 (23.1%) $119,614 (35.4%) 0.00 22
    2019-03-01 $81,071 (-18.9%) $123,561 (28.3%) 0.00 22
    2019-04-01 $96,250 (16.7%) $125,308 (46.9%) 0.00 21
    2019-05-01 $99,500 (-11.6%) $116,465 (8.5%) 0.00 26
    2019-06-01 $99,500 (4.7%) $117,054 (8.3%) 0.00 19
    2019-07-01 $97,250 (2.4%) $117,287 (7.9%) 0.00 16
    2019-08-01 $101,429 (-17.2%) $120,972 (-2.8%) 0.00 16
    2019-09-01 $108,929 (14.7%) $128,830 (40.2%) 0.00 20
    2019-10-01 $98,750 (1.5%) $124,439 (4.0%) 0.00 21
    2019-11-01 $93,000 (-3.6%) $129,648 (10.1%) 0.00 22
    2019-12-01 $87,250 (2.7%) $120,524 (3.0%) 0.00 26
    2020-01-01 $91,250 (12.3%) $115,281 (3.9%) 0.00 25
    2020-02-01 $93,000 (12.7%) $111,726 (-6.6%) 0.00 27
    2020-03-01 $85,000 (4.9%) $101,522 (-17.8%) 0.00 32
    2020-04-01 $85,000 (-11.7%) $108,029 (-13.8%) 0.00 27
    2020-05-01 $79,000 (-20.6%) $97,137 (-16.6%) 0.00 26
    2020-06-01 $77,500 (-22.1%) $98,862 (-15.5%) 0.00 22
    2020-07-01 $76,000 (-21.9%) $100,537 (-14.3%) 0.00 20
    2020-08-01 $106,000 (4.5%) $124,663 (3.1%) 0.00 17
    2020-09-01 $127,500 (17.1%) $132,916 (3.2%) 0.00 20
    2020-10-01 $125,000 (26.6%) $137,382 (10.4%) 0.00 21
    2020-11-01 $122,000 (31.2%) $152,664 (17.8%) 0.00 21
    2020-12-01 $128,000 (46.7%) $146,970 (21.9%) 0.00 25
    2021-01-01 $120,000 (31.5%) $143,840 (24.8%) 0.00 25
    2021-02-01 $136,000 (46.2%) $149,242 (33.6%) 0.00 23
    2021-03-01 $134,750 (58.5%) $156,962 (54.6%) 0.00 21
    2021-04-01 $134,750 (58.5%) $159,011 (47.2%) 0.00 21
    2021-05-01 $150,000 (89.9%) $171,622 (76.7%) 0.00 15
    2021-06-01 $110,500 (42.6%) $151,731 (53.5%) 0.00 18
    2021-07-01 $97,500 (28.3%) $163,562 (62.7%) 0.00 18
    2021-08-01 $87,600 (-17.4%) $130,382 (4.6%) 0.00 20
    2021-09-01 $65,000 (-49.0%) $116,299 (-12.5%) 0.00 17
    2021-10-01 $165,000 (32.0%) $155,882 (13.5%) 0.00 10
    2021-11-01 $125,000 (2.5%) $154,076 (0.9%) 0.00 10
    2021-12-01 $89,900 (-29.8%) $125,556 (-14.6%) 0.00 11
    2022-01-01 $122,000 (1.7%) $125,811 (-12.5%) 0.00 15
    2022-02-01 $125,000 (-8.1%) $108,065 (-27.6%) 0.00 16
    2022-03-01 $125,000 (-7.2%) $105,922 (-32.5%) 0.00 13
    2022-04-01 $140,000 (3.9%) $136,787 (-14.0%) 0.00 14
    2022-05-01 $140,000 (-6.7%) $146,400 (-14.7%) 0.00 16
    Indianola's median listing price for 2022-05-01 was $140,000, a difference of $-10,000 (-6.7%) versus the prior year and $0 versus the prior month.

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

    Indianola's average listing price for 2022-05-01 was $146,400, a difference of $-25,222 (-14.7%) versus the prior year and $9,613 versus the prior month.

    For the 2022-05-01 period, Indianola had 16 MLS listings, a difference of 2 listings (14%) versus the prior month and 1 listings (7%) 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 1,512 sqft
    2018-02-01 0 days 1,377 sqft
    2018-03-01 0 days 1,512 sqft
    2018-04-01 0 days 1,512 sqft
    2018-05-01 0 days 1,699 sqft
    2018-06-01 0 days 1,865 sqft
    2018-07-01 0 days 1,636 sqft
    2018-08-01 0 days 1,636 sqft
    2018-09-01 0 days 1,636 sqft
    2018-10-01 0 days 1,677 sqft
    2018-11-01 0 days 1,636 sqft
    2018-12-01 0 days 1,636 sqft
    2019-01-01 0 days 1,692 sqft
    2019-02-01 0 days 2,200 sqft
    2019-03-01 0 days 2,338 sqft
    2019-04-01 0 days 1,821 sqft
    2019-05-01 0 days 1,796 sqft
    2019-06-01 0 days 1,796 sqft
    2019-07-01 0 days 1,829 sqft
    2019-08-01 0 days 1,718 sqft
    2019-09-01 0 days 1,860 sqft
    2019-10-01 0 days 1,846 sqft
    2019-11-01 0 days 1,896 sqft
    2019-12-01 0 days 1,846 sqft
    2020-01-01 0 days 1,796 sqft
    2020-02-01 0 days 1,715 sqft
    2020-03-01 0 days 1,728 sqft
    2020-04-01 0 days 1,786 sqft
    2020-05-01 0 days 1,656 sqft
    2020-06-01 0 days 1,623 sqft
    2020-07-01 0 days 1,479 sqft
    2020-08-01 0 days 1,950 sqft
    2020-09-01 0 days 1,950 sqft
    2020-10-01 0 days 1,950 sqft
    2020-11-01 0 days 2,140 sqft
    2020-12-01 0 days 2,312 sqft
    2021-01-01 0 days 1,937 sqft
    2021-02-01 0 days 1,944 sqft
    2021-03-01 0 days 1,980 sqft
    2021-04-01 0 days 2,178 sqft
    2021-05-01 0 days 2,329 sqft
    2021-06-01 0 days 2,125 sqft
    2021-07-01 0 days 2,114 sqft
    2021-08-01 0 days 1,824 sqft
    2021-09-01 0 days 1,812 sqft
    2021-10-01 0 days 1,828 sqft
    2021-11-01 0 days 1,824 sqft
    2021-12-01 0 days 1,766 sqft
    2022-01-01 0 days 1,606 sqft
    2022-02-01 0 days 1,606 sqft
    2022-03-01 0 days 1,552 sqft
    2022-04-01 0 days 1,796 sqft
    2022-05-01 0 days 1,796 sqft
    Indianola's median listing age (time on market) for 2022-05-01 was 0 days.

    Indianola's median square footage for active listings during the 2022-05-01 period was 1,796 sqft. One year prior, the average listing was 2,329 sqft.