Ketchikan Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ketchikan averaged
6.69%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.82% and
one month ago for the week of 2023-02-09, the
average rate was 6.11%.
Ketchikan's average rate one year ago was 3.64%.
For refis of the same type during the week of 2023-03-16, the average rate
was 7%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Ketchikan 30 Year Fixed Rate | 2023-03-16 | 6.69% |
Ketchikan 30 Year Fixed Rate Refi | 2023-03-16 | 7% |
Ketchikan 15 Year Fixed Rate | 2023-03-16 | 6.46% |
Ketchikan 15 Year Fixed Rate Refi | 2023-03-16 | 6.04% |
Ketchikan 30 Year FHA | 2023-03-16 | 6.08% |
Ketchikan 30 Year FHA Refi | 2023-03-16 | 6.61% |
Ketchikan 30 Year USDA | 2023-03-16 | 6.56% |
Ketchikan 30 Year USDA Refi | 2023-03-16 | 6.52% |
Ketchikan 30 Year VA | 2023-03-16 | 6.14% |
Ketchikan 30 Year VA Refi | 2023-03-16 | 5.99% |
Ketchikan 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 Ketchikan, AK 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.).
Ketchikan Average Closing Costs & Other Stats
Ketchikan, AK's 30 lenders originated 331
loans during 2021. The total origination value was $98,995,000, with an average loan value of
$299,079.
Ketchikan's average closing costs are $6,600.
The top Ketchikan lender as defined by loan originations is Alaska USA Federal Credit Union, with
14 loans originated. Their average total fees are
$4,523, which is $0
lower than the next largest lender,
Alaska USA Mortgage Company LLC.
The lowest fee Ketchikan lenders (with over 10 loans originated) are
Wells Fargo Bank ($3,961), Alaska USA Federal Credit Union ($4,523), Alaska USA Mortgage Company LLC ($4,523), KeyBank ($4,612) and QUICKEN LOANS, LLC ($8,538).
The lowest rate Ketchikan lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (3.03%), KeyBank (3.05%), Alaska USA Federal Credit Union (3.13%), Alaska USA Mortgage Company LLC (3.13%) and Wells Fargo Bank (3.21%).
Ketchikan, AK 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
Alaska USA Federal Credit Union | $50,000 | $14,935,000 | 29,770.0% | 15.1% |
Alaska USA Mortgage Company LLC | $10,005,000 | $14,700,000 | 46.9% | 14.8% |
QUICKEN LOANS, LLC | $13,360,000 | $7,735,000 | -42.1% | 7.8% |
KeyBank | $4,100,000 | $6,905,000 | 68.4% | 7.0% |
Wells Fargo Bank | $3,840,000 | $4,090,000 | 6.5% | 4.1% |
Mortgage Research Center, LLC | $2,715,000 | $3,975,000 | 46.4% | 4.0% |
LOANDEPOT.COM, LLC | $1,275,000 | $3,760,000 | 194.9% | 3.8% |
USAA Federal Savings Bank | $2,400,000 | $3,755,000 | 56.5% | 3.8% |
RESIDENTIAL MORTGAGE, LLC | $2,570,000 | $3,695,000 | 43.8% | 3.7% |
AMERISAVE MORTGAGE CORPORATION | $3,515,000 | $3,215,000 | -8.5% | 3.2% |
NAVY FEDERAL CREDIT UNION | $1,095,000 | $3,195,000 | 191.8% | 3.2% |
CREDIT UNION 1 | $2,595,000 | $2,295,000 | -11.6% | 2.3% |
CRESCENT MORTGAGE COMPANY | $1,835,000 | n/a | 1.9% | |
PENNYMAC LOAN SERVICES, LLC | $1,755,000 | $1,775,000 | 1.1% | 1.8% |
RESIDENTIAL BANCORP. | $495,000 | $1,755,000 | 254.5% | 1.8% |
MID AMERICA MORTGAGE, INC. | $920,000 | $1,350,000 | 46.7% | 1.4% |
SUN WEST MORTGAGE COMPANY, INC. | $1,280,000 | n/a | 1.3% | |
CALIBER HOME LOANS, INC. | $570,000 | $1,240,000 | 117.5% | 1.3% |
FINANCE OF AMERICA MORTGAGE LLC | $1,115,000 | n/a | 1.1% | |
BETTER MORTGAGE CORPORATION | $1,100,000 | n/a | 1.1% | |
CMG MORTGAGE, INC. | $700,000 | $990,000 | 41.4% | 1.0% |
North American Savings Bank, F.S.B. | $1,075,000 | $965,000 | -10.2% | 1.0% |
Mr. Cooper ( Nationstar Mortgage ) | $1,260,000 | $895,000 | -29.0% | 0.9% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $890,000 | n/a | 0.9% | |
STEARNS LENDING, LLC | $830,000 | n/a | 0.8% | |
ACCELERATE MORTGAGE, LLC | $790,000 | n/a | 0.8% | |
LAKEVIEW LOAN SERVICING, LLC | $785,000 | n/a | 0.8% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $440,000 | $710,000 | 61.4% | 0.7% |
The Federal Savings Bank | $1,520,000 | $680,000 | -55.3% | 0.7% |
Barrington Bank & Trust Company, N.A. | $1,310,000 | $650,000 | -50.4% | 0.7% |
Flagstar Bank, FSB | $545,000 | n/a | 0.6% | |
FREEDOM MORTGAGE CORPORATION | $1,235,000 | $530,000 | -57.1% | 0.5% |
Toyota Financial Savings Bank | $505,000 | n/a | 0.5% | |
TRUE NORTH FEDERAL CREDIT UNION | $475,000 | n/a | 0.5% | |
KS StateBank | $425,000 | $435,000 | 2.4% | 0.4% |
NuVision Federal Credit Union | $435,000 | n/a | 0.4% | |
AMCAP MORTGAGE, LTD. | $1,290,000 | $395,000 | -69.4% | 0.4% |
First National Bank Alaska | $355,000 | $385,000 | 8.5% | 0.4% |
ACADEMY MORTGAGE CORPORATION | $375,000 | n/a | 0.4% | |
Bank of America | $365,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $365,000 | n/a | 0.4% | |
AMERICAN ADVISORS GROUP | $345,000 | n/a | 0.3% | |
AMERICAN FINANCING CORPORATION | $115,000 | $345,000 | 200.0% | 0.3% |
AMERICAN FINANCIAL NETWORK, INC. | $325,000 | n/a | 0.3% | |
WINGS FINANCIAL | $315,000 | n/a | 0.3% | |
UNITED WHOLESALE MORTGAGE, LLC | $590,000 | $305,000 | -48.3% | 0.3% |
FINANCE OF AMERICA COMMERCIAL LLC | $235,000 | n/a | 0.2% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $285,000 | $205,000 | -28.1% | 0.2% |
First Home Bank | $175,000 | n/a | 0.2% | |
PENTAGON FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% |
Ketchikan's top lender by overall market share is Alaska USA Federal Credit Union, with 15.1% market share. In second place, with 14.8%, is Alaska USA Mortgage Company LLC, having originated $14,700,000 in loans. In third place, with 7.8%, is QUICKEN LOANS, LLC, having originated $7,735,000 in loans. In fourth place, with 7.0%, is KeyBank, having originated $6,905,000 in loans. In fifth place, with 4.1%, is Wells Fargo Bank, having originated $4,090,000 in loans.
Ketchikan Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Ketchikan (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 | $184,590 (-33.6%) | $264,744 (-43.4%) | 0.00 | 85 |
2018-02-01 | $205,250 (-25.4%) | $270,601 (-42.3%) | 0.00 | 80 |
2018-03-01 | $234,500 (-11.4%) | $282,654 (-39.8%) | 0.00 | 84 |
2018-04-01 | $238,250 (-10.1%) | $300,361 (-30.5%) | 0.00 | 69 |
2018-05-01 | $264,738 (-6.8%) | $312,331 (-32.4%) | 0.00 | 68 |
2018-06-01 | $315,000 (15.3%) | $380,631 (-21.6%) | 0.00 | 80 |
2018-07-01 | $295,000 (11.3%) | $403,486 (-14.5%) | 0.00 | 99 |
2018-08-01 | $304,875 (14.0%) | $408,226 (-10.1%) | 0.00 | 96 |
2018-09-01 | $319,500 (26.8%) | $394,585 (-8.0%) | 0.00 | 88 |
2018-10-01 | $281,000 (12.9%) | $345,717 (-12.9%) | 0.00 | 85 |
2018-11-01 | $297,250 (20.6%) | $361,831 (-9.0%) | 0.00 | 71 |
2018-12-01 | $269,000 (9.1%) | $347,768 (-13.3%) | 0.00 | 72 |
2019-01-01 | $269,000 (45.7%) | $307,421 (16.1%) | 0.00 | 68 |
2019-02-01 | $269,000 (31.1%) | $314,991 (16.4%) | 0.00 | 66 |
2019-03-01 | $292,786 (24.9%) | $324,333 (14.8%) | 0.00 | 64 |
2019-04-01 | $315,536 (32.4%) | $333,653 (11.1%) | 0.00 | 61 |
2019-05-01 | $324,500 (22.6%) | $319,772 (2.4%) | 0.00 | 65 |
2019-06-01 | $329,000 (4.4%) | $335,244 (-11.9%) | 0.00 | 68 |
2019-07-01 | $326,625 (10.7%) | $329,245 (-18.4%) | 0.00 | 66 |
2019-08-01 | $307,918 (1.0%) | $319,767 (-21.7%) | 0.00 | 72 |
2019-09-01 | $297,670 (-6.8%) | $308,633 (-21.8%) | 0.00 | 75 |
2019-10-01 | $289,475 (3.0%) | $297,378 (-14.0%) | 0.00 | 78 |
2019-11-01 | $287,000 (-3.5%) | $284,492 (-21.4%) | 0.00 | 76 |
2019-12-01 | $277,750 (3.3%) | $274,512 (-21.1%) | 0.00 | 67 |
2020-01-01 | $276,250 (2.7%) | $281,623 (-8.4%) | 0.00 | 67 |
2020-02-01 | $284,000 (5.6%) | $283,261 (-10.1%) | 0.00 | 69 |
2020-03-01 | $249,750 (-14.7%) | $273,511 (-15.7%) | 0.00 | 67 |
2020-04-01 | $257,000 (-18.6%) | $288,260 (-13.6%) | 0.00 | 69 |
2020-05-01 | $284,000 (-12.5%) | $304,098 (-4.9%) | 0.00 | 75 |
2020-06-01 | $290,500 (-11.7%) | $304,296 (-9.2%) | 0.00 | 81 |
2020-07-01 | $271,250 (-17.0%) | $292,034 (-11.3%) | 0.00 | 82 |
2020-08-01 | $298,500 (-3.1%) | $312,482 (-2.3%) | 0.00 | 72 |
2020-09-01 | $290,250 (-2.5%) | $307,155 (-0.5%) | 0.00 | 74 |
2020-10-01 | $245,000 (-15.4%) | $292,748 (-1.6%) | 0.00 | 80 |
2020-11-01 | $247,500 (-13.8%) | $296,676 (4.3%) | 0.00 | 73 |
2020-12-01 | $263,625 (-5.1%) | $308,187 (12.3%) | 0.00 | 66 |
2021-01-01 | $290,000 (5.0%) | $325,716 (15.7%) | 0.00 | 45 |
2021-02-01 | $346,250 (21.9%) | $406,779 (43.6%) | 0.00 | 35 |
2021-03-01 | $344,750 (38.0%) | $397,403 (45.3%) | 0.00 | 35 |
2021-04-01 | $345,250 (34.3%) | $366,716 (27.2%) | 0.00 | 43 |
2021-05-01 | $335,000 (18.0%) | $338,842 (11.4%) | 0.00 | 51 |
2021-06-01 | $325,000 (11.9%) | $351,524 (15.5%) | 0.00 | 51 |
2021-07-01 | $341,000 (25.7%) | $377,221 (29.2%) | 0.00 | 53 |
2021-08-01 | $376,500 (26.1%) | $382,250 (22.3%) | 0.00 | 54 |
2021-09-01 | $394,375 (35.9%) | $381,380 (24.2%) | 0.00 | 43 |
2021-10-01 | $359,000 (46.5%) | $380,564 (30.0%) | 0.00 | 36 |
2021-11-01 | $309,250 (25.0%) | $373,058 (25.8%) | 0.00 | 29 |
2021-12-01 | $374,250 (42.0%) | $399,918 (29.8%) | 0.00 | 27 |
2022-01-01 | $399,000 (37.6%) | $407,704 (25.2%) | 0.00 | 20 |
2022-02-01 | $420,625 (21.5%) | $425,572 (4.6%) | 0.00 | 24 |
2022-03-01 | $485,000 (40.7%) | $417,913 (5.2%) | 0.00 | 24 |
2022-04-01 | $344,750 (-0.1%) | $423,690 (15.5%) | 0.00 | 22 |
2022-05-01 | $406,500 (21.3%) | $453,378 (33.8%) | 0.00 | 23 |
2022-06-01 | $428,750 (31.9%) | $454,792 (29.4%) | 0.00 | 14 |
2022-07-01 | $399,000 (17.0%) | $378,633 (0.4%) | 0.00 | 21 |
2022-08-01 | $449,250 (19.3%) | $408,429 (6.9%) | 0.00 | 23 |
2022-09-01 | $438,250 (11.1%) | $399,342 (4.7%) | 0.00 | 28 |
2022-10-01 | $435,250 (21.2%) | $421,672 (10.8%) | 0.00 | 30 |
2022-11-01 | $405,000 (31.0%) | $377,243 (1.1%) | 0.00 | 29 |
2022-12-01 | $389,000 (3.9%) | $387,426 (-3.1%) | 0.00 | 29 |
2023-01-01 | $395,500 (-0.9%) | $380,359 (-6.7%) | 0.00 | 28 |
2023-02-01 | $388,000 (-7.8%) | $391,920 (-7.9%) | 0.00 | 24 |
Ketchikan's median listing price comes in at 0% of the national average.
Ketchikan's average listing price for 2023-02-01 was $391,920, a difference of $-33,652 (-7.9%) versus the prior year and $11,561 versus the prior month.
For the 2023-02-01 period, Ketchikan had 24 MLS listings, a difference of -4 listings (-14%) versus the prior month and 0 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ketchikan (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,430 sqft |
2018-02-01 | 0 days | 1,501 sqft |
2018-03-01 | 0 days | 1,502 sqft |
2018-04-01 | 0 days | 1,500 sqft |
2018-05-01 | 0 days | 1,505 sqft |
2018-06-01 | 0 days | 1,647 sqft |
2018-07-01 | 0 days | 1,709 sqft |
2018-08-01 | 0 days | 1,778 sqft |
2018-09-01 | 0 days | 1,749 sqft |
2018-10-01 | 0 days | 1,625 sqft |
2018-11-01 | 0 days | 1,624 sqft |
2018-12-01 | 0 days | 1,440 sqft |
2019-01-01 | 0 days | 1,357 sqft |
2019-02-01 | 0 days | 1,440 sqft |
2019-03-01 | 0 days | 1,521 sqft |
2019-04-01 | 0 days | 1,655 sqft |
2019-05-01 | 0 days | 1,668 sqft |
2019-06-01 | 0 days | 1,636 sqft |
2019-07-01 | 0 days | 1,637 sqft |
2019-08-01 | 0 days | 1,583 sqft |
2019-09-01 | 0 days | 1,502 sqft |
2019-10-01 | 0 days | 1,413 sqft |
2019-11-01 | 0 days | 1,300 sqft |
2019-12-01 | 0 days | 1,243 sqft |
2020-01-01 | 0 days | 1,329 sqft |
2020-02-01 | 0 days | 1,260 sqft |
2020-03-01 | 0 days | 1,218 sqft |
2020-04-01 | 0 days | 1,225 sqft |
2020-05-01 | 0 days | 1,440 sqft |
2020-06-01 | 0 days | 1,466 sqft |
2020-07-01 | 0 days | 1,453 sqft |
2020-08-01 | 0 days | 1,636 sqft |
2020-09-01 | 0 days | 1,508 sqft |
2020-10-01 | 0 days | 1,352 sqft |
2020-11-01 | 0 days | 1,398 sqft |
2020-12-01 | 0 days | 1,296 sqft |
2021-01-01 | 0 days | 1,296 sqft |
2021-02-01 | 0 days | 1,429 sqft |
2021-03-01 | 0 days | 1,496 sqft |
2021-04-01 | 0 days | 1,500 sqft |
2021-05-01 | 0 days | 1,473 sqft |
2021-06-01 | 0 days | 1,477 sqft |
2021-07-01 | 0 days | 1,541 sqft |
2021-08-01 | 0 days | 1,593 sqft |
2021-09-01 | 0 days | 1,482 sqft |
2021-10-01 | 0 days | 1,620 sqft |
2021-11-01 | 0 days | 1,610 sqft |
2021-12-01 | 0 days | 1,598 sqft |
2022-01-01 | 0 days | 1,753 sqft |
2022-02-01 | 0 days | 1,733 sqft |
2022-03-01 | 0 days | 1,791 sqft |
2022-04-01 | 0 days | 1,461 sqft |
2022-05-01 | 0 days | 1,598 sqft |
2022-06-01 | 0 days | 1,780 sqft |
2022-07-01 | 0 days | 1,874 sqft |
2022-08-01 | 0 days | 1,890 sqft |
2022-09-01 | 0 days | 1,832 sqft |
2022-10-01 | 0 days | 1,703 sqft |
2022-11-01 | 0 days | 1,537 sqft |
2022-12-01 | 0 days | 1,584 sqft |
2023-01-01 | 0 days | 1,705 sqft |
2023-02-01 | 0 days | 1,494 sqft |
Ketchikan's median square footage for active listings during the 2023-02-01 period was 1,494 sqft. One year prior, the average listing was 1,733 sqft.
Ketchikan, AK Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 136 | $47,310,000 | $347,868 |
Refi | 109 | $30,385,000 | $278,761 |
Cash Out Refi | 71 | $19,525,000 | $275,000 |
Home Improvement | 10 | $650,000 | $65,000 |
Other | 5 | $1,125,000 | $225,000 |
Ketchikan's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Refi, with 109 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 169 | $51,935,000 | $307,308 |
3-4% | 77 | $21,475,000 | $278,896 |
<2.5% | 75 | $24,115,000 | $321,533 |
4-5% | 6 | $1,030,000 | $171,667 |
Over 8% | 1 | $185,000 | $185,000 |
5-6% | 1 | $145,000 | $145,000 |
6-7% | 1 | $55,000 | $55,000 |
7-8% | 1 | $55,000 | $55,000 |
During 2021, Ketchikan's most frequently originated rate bucket was 2.5-3%, with 169 originations.
Loan Sizing (Ketchikan, AK MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$200k-400k | 197 | $60,165,000 | $305,406 |
$400k-600k | 66 | $30,530,000 | $462,576 |
$100k-200k | 46 | $6,980,000 | $151,739 |
$100,000 or less | 22 | $1,320,000 | $60,000 |
Ketchikan's loan sizing saw the bucket of loans from $200k-400k with 197 originations, totaling $60,165,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 133 | $45,605,000 | $342,895 |
60-80% | 89 | $26,865,000 | $301,854 |
40-60% | 43 | $10,135,000 | $235,698 |
Over 100% | 18 | $7,150,000 | $397,222 |
20-40% | 16 | $2,020,000 | $126,250 |
Under 20% | 9 | $425,000 | $47,222 |
Ketchikan's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 133 originations, totaling $45,605,000 in origination value.