Indianola Mortgage Rates
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% |
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. LouisDate | 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 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. LouisDate | 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 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.