Ketchikan 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 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%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ketchikan, AK.

    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.).

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    Alaska USA Federal Credit Union 14 3.13% $4,523
    Alaska USA Mortgage Company LLC 14 3.13% $4,523
    KeyBank 13 3.05% $4,612
    Wells Fargo Bank 12 3.21% $3,961
    QUICKEN LOANS, LLC 10 3.03% $8,538
    LOANDEPOT.COM, LLC 9 2.93% $5,184
    RESIDENTIAL MORTGAGE, LLC 7 2.79% $7,738
    CREDIT UNION 1 7 3.38% $5,381
    AMERISAVE MORTGAGE CORPORATION 5 3.12% $3,501
    NAVY FEDERAL CREDIT UNION 4 2.78% $4,273
    RESIDENTIAL BANCORP. 3 3.08% $6,237
    BETTER MORTGAGE CORPORATION 2 2.94% $2,830
    North American Savings Bank, F.S.B. 2 3.19% $4,208
    CRESCENT MORTGAGE COMPANY 2 3.69% $4,992
    MID AMERICA MORTGAGE, INC. 2 3.31% $5,216
    FINANCE OF AMERICA MORTGAGE LLC 2 3.00% $4,110
    WINGS FINANCIAL 1 2.88% $3,756
    AMCAP MORTGAGE, LTD. 1 2.75% $10,853
    AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $14,884
    AMERICAN FINANCING CORPORATION 1 4.00% $5,069
    Bank of America 1 2.88% $6,890
    CALIBER HOME LOANS, INC. 1 2.75% $4,287
    First National Bank Alaska 1 3.25% $7,286
    Flagstar Bank, FSB 1 2.50% $9,981
    LAKEVIEW LOAN SERVICING, LLC 1 2.99% $2,103
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $4,958
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $2,075
    STEARNS LENDING, LLC 1 2.99% $11,251
    Toyota Financial Savings Bank 1 2.75% $3,937
    TRUE NORTH FEDERAL CREDIT UNION 1 2.88% $13,512

    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. Louis
    Date 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 for 2023-02-01 was $388,000, a difference of $-32,625 (-7.8%) versus the prior year and $-7,500 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2023-02-01 was 0 days.

    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.