La Grande Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in La Grande averaged
7.02%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
6.96% and
one month ago for the week of 2023-08-10, the
average rate was 6.8%.
La Grande's average rate one year ago was 5.53%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.48%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| La Grande 30 Year Fixed Rate | 2023-09-14 | 7.02% |
| La Grande 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
| La Grande 15 Year Fixed Rate | 2023-09-14 | 6.71% |
| La Grande 15 Year Fixed Rate Refi | 2023-09-14 | 6.91% |
| La Grande 30 Year FHA | 2023-09-14 | 6.89% |
| La Grande 30 Year FHA Refi | 2023-09-14 | 6.99% |
| La Grande 30 Year USDA | 2023-09-14 | 7.08% |
| La Grande 30 Year USDA Refi | 2023-09-14 | 7.08% |
| La Grande 30 Year VA | 2023-09-14 | 7.01% |
| La Grande 30 Year VA Refi | 2023-09-14 | 7.01% |
La Grande 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 La Grande, OR 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.).
La Grande Average Closing Costs & Other Stats
La Grande, OR's 68 lenders originated 653
loans during 2022. The total origination value was $141,815,000, with an average loan value of
$217,175.
La Grande's average closing costs are $5,484.
The top La Grande lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
61 loans originated. Their average total fees are
$6,197, which is $39
lower than the next largest lender,
MANN FINANCIAL INC..
The lowest fee La Grande lenders (with over 10 loans originated) are
FINANCE OF AMERICA MORTGAGE LLC ($5,895), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,197), MANN FINANCIAL INC. ($6,236), Umpqua Bank ($6,944) and QUICKEN LOANS, LLC ($11,151).
The lowest rate La Grande lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.79%), Umpqua Bank (4.94%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.97%), FINANCE OF AMERICA MORTGAGE LLC (5.10%) and MANN FINANCIAL INC. (5.26%).
La Grande, OR 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 |
|---|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $37,945,000 | $24,320,000 | -35.9% | 17.1% |
| MANN FINANCIAL INC. | $40,605,000 | $22,925,000 | -43.5% | 16.2% |
| Banner Bank | $9,270,000 | $10,170,000 | 9.7% | 7.2% |
| QUICKEN LOANS, LLC | $18,640,000 | $9,035,000 | -51.5% | 6.4% |
| Umpqua Bank | $9,715,000 | $5,825,000 | -40.0% | 4.1% |
| FINANCE OF AMERICA MORTGAGE LLC | $6,170,000 | $4,620,000 | -25.1% | 3.3% |
| U.S. Bank | $7,335,000 | $3,965,000 | -45.9% | 2.8% |
| AMERISAVE MORTGAGE CORPORATION | $3,445,000 | $2,430,000 | -29.5% | 1.7% |
| CALIBER HOME LOANS, INC. | $2,760,000 | $2,355,000 | -14.7% | 1.7% |
| LOANDEPOT.COM, LLC | $3,520,000 | $2,275,000 | -35.4% | 1.6% |
| FREEDOM MORTGAGE CORPORATION | $5,800,000 | $2,155,000 | -62.8% | 1.5% |
| GUILD MORTGAGE COMPANY | $1,800,000 | $1,970,000 | 9.4% | 1.4% |
| PENNYMAC LOAN SERVICES, LLC | $2,175,000 | $1,910,000 | -12.2% | 1.3% |
| Flagstar Bank, FSB | $1,890,000 | $1,885,000 | -0.3% | 1.3% |
| Mortgage Research Center, LLC | $1,540,000 | $1,810,000 | 17.5% | 1.3% |
| ACADEMY MORTGAGE CORPORATION | $1,480,000 | $1,795,000 | 21.3% | 1.3% |
| Northwest Farm Credit Services, FLCA | $895,000 | $1,605,000 | 79.3% | 1.1% |
| Wells Fargo Bank | $3,525,000 | $1,585,000 | -55.0% | 1.1% |
| Sierra Pacific Mortgage Company, Inc. | $5,885,000 | $1,485,000 | -74.8% | 1.0% |
| The Federal Savings Bank | $1,395,000 | $1,475,000 | 5.7% | 1.0% |
| KeyBank | $1,035,000 | $1,195,000 | 15.5% | 0.8% |
| HOME POINT FINANCIAL CORPORATION | $455,000 | $1,125,000 | 147.3% | 0.8% |
| HORIZON | $1,405,000 | $1,115,000 | -20.6% | 0.8% |
| SUMMIT FUNDING, INC. | $610,000 | $1,110,000 | 82.0% | 0.8% |
| MOVEMENT MORTGAGE, LLC | $1,065,000 | n/a | 0.8% | |
| AMERICAN FINANCING CORPORATION | $3,250,000 | $1,025,000 | -68.5% | 0.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,885,000 | $1,010,000 | -46.4% | 0.7% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,250,000 | $945,000 | -24.4% | 0.7% |
| FIRST COMMUNITY | $235,000 | $900,000 | 283.0% | 0.6% |
| USAA Federal Savings Bank | $420,000 | $885,000 | 110.7% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $890,000 | $865,000 | -2.8% | 0.6% |
| PHH Mortgage Corporation | $835,000 | n/a | 0.6% | |
| The Huntington National Bank | $815,000 | n/a | 0.6% | |
| ADVANCIAL | $735,000 | n/a | 0.5% | |
| Bank of America | $700,000 | n/a | 0.5% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,910,000 | $680,000 | -64.4% | 0.5% |
| BROKER SOLUTIONS, INC. | $840,000 | $625,000 | -25.6% | 0.4% |
| S1L, Inc. | $165,000 | $620,000 | 275.8% | 0.4% |
| IDAHO CENTRAL | $615,000 | n/a | 0.4% | |
| JPMorgan Chase Bank | $1,115,000 | $590,000 | -47.1% | 0.4% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $330,000 | $550,000 | 66.7% | 0.4% |
| ZILLOW HOME LOANS, LLC | $475,000 | $535,000 | 12.6% | 0.4% |
| FIRST TECHNOLOGY | $505,000 | n/a | 0.4% | |
| NEWREZ LLC | $2,620,000 | $495,000 | -81.1% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,210,000 | $480,000 | -60.3% | 0.3% |
| AMERICAN ADVISORS GROUP | $470,000 | n/a | 0.3% | |
| CMG MORTGAGE, INC. | $705,000 | $450,000 | -36.2% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $165,000 | $445,000 | 169.7% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,430,000 | $440,000 | -69.2% | 0.3% |
| Wyndham Capital Mortgage, Inc. | $375,000 | n/a | 0.3% | |
| MORTGAGE EXPRESS, LLC | $325,000 | $370,000 | 13.8% | 0.3% |
| Ally Bank | $155,000 | $355,000 | 129.0% | 0.3% |
| LONGBRIDGE FINANCIAL, LLC | $355,000 | n/a | 0.3% | |
| OREGON COMMUNITY | $475,000 | $340,000 | -28.4% | 0.2% |
| BETTER MORTGAGE CORPORATION | $1,025,000 | $335,000 | -67.3% | 0.2% |
| LPMC, LLC | $335,000 | n/a | 0.2% | |
| MORTGAGE CAPITAL PARTNERS, INC. | $335,000 | n/a | 0.2% | |
| Willamette Valley Bank | $750,000 | $335,000 | -55.3% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $95,000 | $330,000 | 247.4% | 0.2% |
| Citadel Servicing Corporation | $325,000 | n/a | 0.2% | |
| Bank of the West | $320,000 | n/a | 0.2% | |
| CANOPY MORTGAGE, LLC | $165,000 | $315,000 | 90.9% | 0.2% |
| HAPO COMMUNITY CREDIT UNION | $315,000 | n/a | 0.2% | |
| Opportunity Bank of Montana | $315,000 | n/a | 0.2% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $305,000 | n/a | 0.2% | |
| ROGUE | $305,000 | n/a | 0.2% | |
| SOUND | $305,000 | n/a | 0.2% | |
| BAY EQUITY LLC | $295,000 | n/a | 0.2% | |
| Washington Federal Bank | $235,000 | $295,000 | 25.5% | 0.2% |
| NETWORK CAPITAL FUNDING CORPORATION | $395,000 | $290,000 | -26.6% | 0.2% |
| INTERCAP LENDING INC. | $275,000 | n/a | 0.2% | |
| Washington Trust Bank | $275,000 | n/a | 0.2% | |
| Hometown Lenders, Inc. | $245,000 | n/a | 0.2% | |
| PLANET HOME LENDING, LLC | $185,000 | $245,000 | 32.4% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $245,000 | n/a | 0.2% | |
| Commerce Home Mortgage, Inc. | $240,000 | n/a | 0.2% | |
| LEADERONE FINANCIAL CORPORATION | $235,000 | n/a | 0.2% | |
| MASON MCDUFFIE MORTGAGE CORPORATION | $235,000 | n/a | 0.2% | |
| Rivermark Community Credit Union | $235,000 | n/a | 0.2% | |
| CONTOUR MORTGAGE CORPORATION | $225,000 | n/a | 0.2% | |
| PENTAGON FEDERAL CREDIT UNION | $225,000 | n/a | 0.2% | |
| 1st Security Bank of Washington | $175,000 | $215,000 | 22.9% | 0.2% |
| EVERETT FINANCIAL, INC. | $215,000 | n/a | 0.2% | |
| Nations Lending Corporation | $185,000 | $215,000 | 16.2% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $255,000 | $210,000 | -17.6% | 0.1% |
| Columbia State Bank | $1,590,000 | $205,000 | -87.1% | 0.1% |
| Unitus Community Credit Union | $730,000 | $200,000 | -72.6% | 0.1% |
| GESA | $430,000 | $195,000 | -54.7% | 0.1% |
| SWBC MORTGAGE CORPORATION | $505,000 | $195,000 | -61.4% | 0.1% |
| PNC Bank | $180,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $180,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $560,000 | $175,000 | -68.8% | 0.1% |
| Potlatch No. 1 Financial Credit Union | $350,000 | $175,000 | -50.0% | 0.1% |
| OnPoint Community Credit Union | $805,000 | $170,000 | -78.9% | 0.1% |
| Discover Bank | $240,000 | $165,000 | -31.3% | 0.1% |
| GUARANTEED RATE, INC. | $165,000 | n/a | 0.1% | |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $430,000 | $165,000 | -61.6% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $955,000 | $155,000 | -83.8% | 0.1% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $155,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $3,060,000 | $135,000 | -95.6% | 0.1% |
| FARMERS BANK | $125,000 | n/a | 0.1% | |
| MOUNTAIN AMERICA | $115,000 | n/a | 0.1% | |
| Figure Lending LLC | $60,000 | $105,000 | 75.0% | 0.1% |
| SELCO COMMUNITY | $105,000 | n/a | 0.1% | |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $95,000 | n/a | 0.1% | |
| Golden Empire Mortgage, Inc. | $95,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $85,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $65,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $45,000 | n/a | 0.0% |
La Grande's top lender by overall market share is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 17.1% market share. In second place, with 16.2%, is MANN FINANCIAL INC., having originated $22,925,000 in loans. In third place, with 7.2%, is Banner Bank, having originated $10,170,000 in loans. In fourth place, with 6.4%, is QUICKEN LOANS, LLC, having originated $9,035,000 in loans. In fifth place, with 4.1%, is Umpqua Bank, having originated $5,825,000 in loans.
La Grande, OR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 329 | $87,165,000 | $264,939 |
| Cash Out Refi | 147 | $30,655,000 | $208,537 |
| Refi | 88 | $16,320,000 | $185,455 |
| Home Improvement | 56 | $4,840,000 | $86,429 |
| Other | 33 | $2,835,000 | $85,909 |
La Grande's most frequently cited loan purpose was Home Purchase, with 329 originations. The 2nd most popular reason was Cash Out Refi, with 147 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 178 | $42,110,000 | $236,573 |
| 3-4% | 148 | $36,820,000 | $248,784 |
| 4-5% | 130 | $28,230,000 | $217,154 |
| 6-7% | 81 | $16,875,000 | $208,333 |
| 2.5-3% | 71 | $10,865,000 | $153,028 |
| <2.5% | 16 | $3,250,000 | $203,125 |
| 7-8% | 15 | $2,695,000 | $179,667 |
| Over 8% | 14 | $970,000 | $69,286 |
During 2022, La Grande's most frequently originated rate bucket was 5-6%, with 178 originations.
Loan Sizing (La Grande, OR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 275 | $75,995,000 | $276,345 |
| $100k-200k | 213 | $32,665,000 | $153,357 |
| $100,000 or less | 116 | $6,940,000 | $59,828 |
| $400k-600k | 37 | $17,465,000 | $472,027 |
| $600k-1000k | 12 | $8,750,000 | $729,167 |
La Grande's loan sizing saw the bucket of loans from $200k-400k with 275 originations, totaling $75,995,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 234 | $64,320,000 | $274,872 |
| 60-80% | 178 | $47,660,000 | $267,753 |
| 40-60% | 90 | $15,620,000 | $173,556 |
| Under 20% | 78 | $4,620,000 | $59,231 |
| 20-40% | 60 | $6,350,000 | $105,833 |
| Over 100% | 8 | $1,890,000 | $236,250 |
La Grande's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 234 originations, totaling $64,320,000 in origination value.