Indianola Mortgage Rates & Closing Costs
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% |
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. LouisDate | 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 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. LouisDate | 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 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.