Laurel Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Laurel averaged
6.89%
for the week of 2023-03-23, compared to the national average of
6.42% for the same period.
The average rate for the prior week (2023-03-16) was
6.67% and
one month ago for the week of 2023-02-16, the
average rate was 6.39%.
Laurel's average rate one year ago was 4.16%.
For refis of the same type during the week of 2023-03-23, the average rate
was 6.95%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-23 | 6.42% |
Laurel 30 Year Fixed Rate | 2023-03-23 | 6.89% |
Laurel 30 Year Fixed Rate Refi | 2023-03-23 | 6.95% |
Laurel 15 Year Fixed Rate | 2023-03-23 | 6.72% |
Laurel 15 Year Fixed Rate Refi | 2023-03-23 | 6.66% |
Laurel 30 Year FHA | 2023-03-23 | 6.34% |
Laurel 30 Year FHA Refi | 2023-03-23 | 6.05% |
Laurel 30 Year USDA | 2023-03-23 | 6.39% |
Laurel 30 Year USDA Refi | 2023-03-23 | 6.18% |
Laurel 30 Year VA | 2023-03-23 | 6.02% |
Laurel 30 Year VA Refi | 2023-03-23 | 5.64% |
Laurel 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 Laurel, 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.).
Laurel Average Closing Costs & Other Stats
Laurel, MS's 57 lenders originated 1,484
loans during 2022. The total origination value was $196,960,000, with an average loan value of
$132,722.
Laurel's average closing costs are $4,490.
The top Laurel lender as defined by loan originations is Community Bank of Mississippi, with
61 loans originated. Their average total fees are
$3,875, which is $184
lower than the next largest lender,
BancorpSouth Bank.
The lowest fee Laurel lenders (with over 10 loans originated) are
Regions Bank ($3,777), Community Bank of Mississippi ($3,875), BancorpSouth Bank ($4,059), Trustmark National Bank ($4,179) and MORTGAGE INVESTORS GROUP, INC. ($5,936).
The lowest rate Laurel lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.65%), BancorpSouth Bank (4.90%), Regions Bank (5.08%), MORTGAGE INVESTORS GROUP, INC. (5.13%) and Community Bank of Mississippi (5.13%).
Laurel, 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 |
---|---|---|---|---|
Community Bank of Mississippi | $56,160,000 | $55,485,000 | -1.2% | 28.2% |
BancorpSouth Bank | $14,635,000 | $12,480,000 | -14.7% | 6.3% |
Trustmark National Bank | $17,500,000 | $11,660,000 | -33.4% | 5.9% |
QUICKEN LOANS, LLC | $18,955,000 | $10,240,000 | -46.0% | 5.2% |
The First, A National Banking Association | $9,790,000 | $9,645,000 | -1.5% | 4.9% |
Regions Bank | $5,430,000 | $6,470,000 | 19.2% | 3.3% |
Magnolia State Bank | $5,620,000 | $5,600,000 | -0.4% | 2.8% |
21ST MORTGAGE CORPORATION | $5,795,000 | $5,175,000 | -10.7% | 2.6% |
Mortgage Research Center, LLC | $2,665,000 | $4,960,000 | 86.1% | 2.5% |
MORTGAGE INVESTORS GROUP, INC. | $10,260,000 | $4,950,000 | -51.8% | 2.5% |
Citizens Bank | $580,000 | $4,055,000 | 599.1% | 2.1% |
The Citizens National Bank of Meridian | $8,240,000 | $3,075,000 | -62.7% | 1.6% |
LOANDEPOT.COM, LLC | $4,195,000 | $3,060,000 | -27.1% | 1.6% |
KEESLER | $315,000 | $3,000,000 | 852.4% | 1.5% |
BankPlus | $12,195,000 | $2,980,000 | -75.6% | 1.5% |
UNITED WHOLESALE MORTGAGE, LLC | $2,790,000 | $2,705,000 | -3.0% | 1.4% |
STOCKTON MORTGAGE CORPORATION | $540,000 | $2,660,000 | 392.6% | 1.4% |
AMERISAVE MORTGAGE CORPORATION | $1,380,000 | $2,505,000 | 81.5% | 1.3% |
TRIAD FINANCIAL SERVICES, INC. | $1,410,000 | $2,475,000 | 75.5% | 1.3% |
BankFirst Financial Services | $2,035,000 | $2,110,000 | 3.7% | 1.1% |
Ixonia Bank | $805,000 | $2,050,000 | 154.7% | 1.0% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $1,210,000 | $2,010,000 | 66.1% | 1.0% |
PriorityOne Bank | $1,325,000 | $1,945,000 | 46.8% | 1.0% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $1,685,000 | n/a | 0.9% | |
DAS Acquisition Company, LLC | $3,650,000 | $1,475,000 | -59.6% | 0.7% |
Mr. Cooper ( Nationstar Mortgage ) | $1,665,000 | $1,380,000 | -17.1% | 0.7% |
United Community Bank | $1,230,000 | n/a | 0.6% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,085,000 | $1,105,000 | -47.0% | 0.6% |
SUNBELT Federal Credit Union | $120,000 | $1,065,000 | 787.5% | 0.5% |
Great Southern Bank | $425,000 | $1,060,000 | 149.4% | 0.5% |
CSL Financial, LLC | $600,000 | $1,040,000 | 73.3% | 0.5% |
U.S. Bank | $125,000 | $950,000 | 660.0% | 0.5% |
Wells Fargo Bank | $2,950,000 | $945,000 | -68.0% | 0.5% |
NEW DAY FINANCIAL, LLC | $270,000 | $930,000 | 244.4% | 0.5% |
FREEDOM MORTGAGE CORPORATION | $5,195,000 | $815,000 | -84.3% | 0.4% |
Flagstar Bank, FSB | $1,120,000 | $775,000 | -30.8% | 0.4% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $400,000 | $750,000 | 87.5% | 0.4% |
HOME POINT FINANCIAL CORPORATION | $400,000 | $730,000 | 82.5% | 0.4% |
EVERETT FINANCIAL, INC. | $705,000 | n/a | 0.4% | |
CALIBER HOME LOANS, INC. | $4,330,000 | $655,000 | -84.9% | 0.3% |
Hancock Whitney Bank | $205,000 | $655,000 | 219.5% | 0.3% |
FirstBank | $260,000 | $640,000 | 146.2% | 0.3% |
AMERICAN FINANCING CORPORATION | $925,000 | $635,000 | -31.4% | 0.3% |
JPMorgan Chase Bank | $1,820,000 | $625,000 | -65.7% | 0.3% |
POWERCO | $620,000 | n/a | 0.3% | |
Merchants & Marine Bank | $525,000 | $590,000 | 12.4% | 0.3% |
Citizens Bank | $580,000 | $570,000 | -1.7% | 0.3% |
BROKER SOLUTIONS, INC. | $525,000 | $520,000 | -1.0% | 0.3% |
NEWREZ LLC | $875,000 | $505,000 | -42.3% | 0.3% |
First Bank | $935,000 | $475,000 | -49.2% | 0.2% |
COUNTRYPLACE MORTGAGE, LTD. | $525,000 | $470,000 | -10.5% | 0.2% |
CROSSCOUNTRY MORTGAGE, LLC | $830,000 | $465,000 | -44.0% | 0.2% |
PENNYMAC LOAN SERVICES, LLC | $1,520,000 | $440,000 | -71.1% | 0.2% |
Truist | $305,000 | $430,000 | 41.0% | 0.2% |
ANGEL OAK HOME LOANS LLC | $625,000 | $425,000 | -32.0% | 0.2% |
CIS Financial Services, Inc. | $425,000 | n/a | 0.2% | |
NAVY FEDERAL CREDIT UNION | $720,000 | $415,000 | -42.4% | 0.2% |
UNION HOME MORTGAGE CORP. | $415,000 | n/a | 0.2% | |
RAPID MORTGAGE COMPANY | $385,000 | n/a | 0.2% | |
USAA Federal Savings Bank | $1,435,000 | $385,000 | -73.2% | 0.2% |
Hometown Lenders, Inc. | $185,000 | $375,000 | 102.7% | 0.2% |
ZILLOW HOME LOANS, LLC | $375,000 | n/a | 0.2% | |
Assurance Financial Group, L.L.C. | $355,000 | n/a | 0.2% | |
Colonial Savings, F.A. | $350,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $310,000 | n/a | 0.2% | |
MOVEMENT MORTGAGE, LLC | $310,000 | n/a | 0.2% | |
Equity Prime Mortgage LLC | $305,000 | n/a | 0.2% | |
FIRST COMMUNITY MORTGAGE, INC. | $1,255,000 | $295,000 | -76.5% | 0.1% |
CMG MORTGAGE, INC. | $405,000 | $280,000 | -30.9% | 0.1% |
Carrington Mortgage Services, LLC | $380,000 | $270,000 | -28.9% | 0.1% |
EUSTIS AND AMERICAN MORTGAGE COMPANY | $265,000 | n/a | 0.1% | |
CHEVRON | $255,000 | n/a | 0.1% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $255,000 | $250,000 | -2.0% | 0.1% |
GUILD MORTGAGE COMPANY | $1,350,000 | $230,000 | -83.0% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $665,000 | $230,000 | -65.4% | 0.1% |
MUTUAL OF OMAHA MORTGAGE, INC. | $185,000 | $220,000 | 18.9% | 0.1% |
EMBRACE HOME LOANS, INC. | $195,000 | n/a | 0.1% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $140,000 | $185,000 | 32.1% | 0.1% |
The Central Trust Bank | $185,000 | n/a | 0.1% | |
GMFS LLC | $865,000 | $175,000 | -79.8% | 0.1% |
THE MORTGAGE FIRM, INC. | $175,000 | n/a | 0.1% | |
Community First National Bank | $165,000 | n/a | 0.1% | |
South State Bank | $165,000 | n/a | 0.1% | |
TOWNE MORTGAGE COMPANY | $125,000 | $165,000 | 32.0% | 0.1% |
Watermark Capital, Inc. | $165,000 | n/a | 0.1% | |
Discover Bank | $155,000 | n/a | 0.1% | |
Paramount Residential Mortgage Group, Inc. | $250,000 | $155,000 | -38.0% | 0.1% |
Grand Bank for Savings, FSB | $170,000 | $145,000 | -14.7% | 0.1% |
Peoples Bank | $640,000 | $140,000 | -78.1% | 0.1% |
Bank of America | $405,000 | $135,000 | -66.7% | 0.1% |
GUARANTEED RATE AFFINITY, LLC | $135,000 | n/a | 0.1% | |
BETTER MORTGAGE CORPORATION | $750,000 | $115,000 | -84.7% | 0.1% |
Lakeview Community Capital, LLC | $135,000 | $115,000 | -14.8% | 0.1% |
LIMA ONE CAPITAL, LLC | $115,000 | n/a | 0.1% | |
Nations Lending Corporation | $210,000 | $115,000 | -45.2% | 0.1% |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $105,000 | n/a | 0.1% | |
Bank of England | $95,000 | $85,000 | -10.5% | 0.0% |
LAKEVIEW LOAN SERVICING, LLC | $650,000 | $75,000 | -88.5% | 0.0% |
PHH Mortgage Corporation | $75,000 | n/a | 0.0% | |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $65,000 | n/a | 0.0% | |
AMERICAN ADVISORS GROUP | $145,000 | $55,000 | -62.1% | 0.0% |
First American Bank and Trust | $45,000 | n/a | 0.0% | |
PENTAGON FEDERAL CREDIT UNION | $165,000 | $45,000 | -72.7% | 0.0% |
Laurel's top lender by overall market share is Community Bank of Mississippi, with 28.2% market share. In second place, with 6.3%, is BancorpSouth Bank, having originated $12,480,000 in loans. In third place, with 5.9%, is Trustmark National Bank, having originated $11,660,000 in loans. In fourth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $10,240,000 in loans. In fifth place, with 4.9%, is The First, A National Banking Association, having originated $9,645,000 in loans.
Laurel Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Laurel (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 | $139,625 (7.9%) | $166,881 (6.2%) | 0.00 | 261 |
2018-02-01 | $139,250 (9.7%) | $166,548 (8.7%) | 0.00 | 262 |
2018-03-01 | $134,500 (5.5%) | $162,176 (5.3%) | 0.00 | 252 |
2018-04-01 | $135,000 (3.9%) | $163,093 (5.5%) | 0.00 | 258 |
2018-05-01 | $133,750 (6.4%) | $164,755 (6.7%) | 0.00 | 257 |
2018-06-01 | $135,000 (-2.9%) | $168,201 (4.0%) | 0.00 | 253 |
2018-07-01 | $136,125 (-2.0%) | $174,519 (7.4%) | 0.00 | 257 |
2018-08-01 | $129,850 (-1.9%) | $177,044 (8.9%) | 0.00 | 247 |
2018-09-01 | $141,000 (1.1%) | $183,274 (6.9%) | 0.00 | 250 |
2018-10-01 | $144,500 (9.6%) | $182,294 (5.9%) | 0.00 | 254 |
2018-11-01 | $141,875 (1.9%) | $182,332 (9.2%) | 0.00 | 239 |
2018-12-01 | $139,950 (0.5%) | $179,285 (7.9%) | 0.00 | 220 |
2019-01-01 | $139,900 (0.2%) | $175,521 (5.2%) | 0.00 | 220 |
2019-02-01 | $139,825 (0.4%) | $177,952 (6.9%) | 0.00 | 217 |
2019-03-01 | $150,557 (11.9%) | $186,491 (15.0%) | 0.00 | 212 |
2019-04-01 | $158,207 (17.2%) | $194,206 (19.1%) | 0.00 | 205 |
2019-05-01 | $143,750 (7.5%) | $186,577 (13.3%) | 0.00 | 203 |
2019-06-01 | $156,750 (16.1%) | $195,646 (16.3%) | 0.00 | 200 |
2019-07-01 | $158,750 (16.6%) | $206,945 (18.6%) | 0.00 | 197 |
2019-08-01 | $153,291 (18.1%) | $205,330 (16.0%) | 0.00 | 192 |
2019-09-01 | $150,877 (7.0%) | $203,959 (11.3%) | 0.00 | 186 |
2019-10-01 | $149,493 (3.5%) | $203,182 (11.5%) | 0.00 | 181 |
2019-11-01 | $163,000 (14.9%) | $212,171 (16.4%) | 0.00 | 172 |
2019-12-01 | $160,000 (14.3%) | $219,540 (22.5%) | 0.00 | 166 |
2020-01-01 | $155,875 (11.4%) | $205,139 (16.9%) | 0.00 | 156 |
2020-02-01 | $161,000 (15.1%) | $216,411 (21.6%) | 0.00 | 147 |
2020-03-01 | $161,000 (6.9%) | $214,256 (14.9%) | 0.00 | 138 |
2020-04-01 | $156,450 (-1.1%) | $207,925 (7.1%) | 0.00 | 143 |
2020-05-01 | $163,000 (13.4%) | $220,103 (18.0%) | 0.00 | 130 |
2020-06-01 | $156,250 (-0.3%) | $220,321 (12.6%) | 0.00 | 118 |
2020-07-01 | $149,600 (-5.8%) | $218,091 (5.4%) | 0.00 | 113 |
2020-08-01 | $159,500 (4.1%) | $227,992 (11.0%) | 0.00 | 103 |
2020-09-01 | $166,375 (10.3%) | $243,016 (19.2%) | 0.00 | 91 |
2020-10-01 | $191,000 (27.8%) | $241,166 (18.7%) | 0.00 | 82 |
2020-11-01 | $176,350 (8.2%) | $230,918 (8.8%) | 0.00 | 78 |
2020-12-01 | $189,250 (18.3%) | $243,154 (10.8%) | 0.00 | 91 |
2021-01-01 | $161,000 (3.3%) | $251,194 (22.5%) | 0.00 | 87 |
2021-02-01 | $192,000 (19.3%) | $256,413 (18.5%) | 0.00 | 82 |
2021-03-01 | $159,575 (-0.9%) | $237,715 (11.0%) | 0.00 | 68 |
2021-04-01 | $183,475 (17.3%) | $238,007 (14.5%) | 0.00 | 57 |
2021-05-01 | $164,500 (0.9%) | $233,428 (6.1%) | 0.00 | 49 |
2021-06-01 | $175,925 (12.6%) | $218,972 (-0.6%) | 0.00 | 52 |
2021-07-01 | $174,950 (17.0%) | $221,568 (1.6%) | 0.00 | 69 |
2021-08-01 | $184,950 (16.0%) | $222,557 (-2.4%) | 0.00 | 73 |
2021-09-01 | $192,075 (15.5%) | $223,001 (-8.2%) | 0.00 | 72 |
2021-10-01 | $184,900 (-3.2%) | $216,704 (-10.1%) | 0.00 | 64 |
2021-11-01 | $199,800 (13.3%) | $229,652 (-0.6%) | 0.00 | 90 |
2021-12-01 | $203,275 (7.4%) | $228,908 (-5.9%) | 0.00 | 84 |
2022-01-01 | $207,000 (28.6%) | $231,398 (-7.9%) | 0.00 | 75 |
2022-02-01 | $188,750 (-1.7%) | $242,495 (-5.4%) | 0.00 | 60 |
2022-03-01 | $210,625 (32.0%) | $243,441 (2.4%) | 0.00 | 58 |
2022-04-01 | $176,750 (-3.7%) | $242,590 (1.9%) | 0.00 | 71 |
2022-05-01 | $208,500 (26.8%) | $266,031 (14.0%) | 0.00 | 93 |
2022-06-01 | $239,025 (35.9%) | $297,078 (35.7%) | 0.00 | 103 |
2022-07-01 | $239,450 (36.9%) | $294,144 (32.8%) | 0.00 | 109 |
2022-08-01 | $252,250 (36.4%) | $315,897 (41.9%) | 0.00 | 103 |
2022-09-01 | $238,400 (24.1%) | $315,179 (41.3%) | 0.00 | 108 |
2022-10-01 | $207,000 (12.0%) | $304,003 (40.3%) | 0.00 | 109 |
2022-11-01 | $202,350 (1.3%) | $275,421 (19.9%) | 0.00 | 113 |
2022-12-01 | $184,900 (-9.0%) | $273,220 (19.4%) | 0.00 | 117 |
2023-01-01 | $179,975 (-13.1%) | $260,127 (12.4%) | 0.00 | 112 |
2023-02-01 | $179,700 (-4.8%) | $248,246 (2.4%) | 0.00 | 98 |
Laurel's median listing price comes in at 0% of the national average.
Laurel's average listing price for 2023-02-01 was $248,246, a difference of $5,751 (2.4%) versus the prior year and $-11,881 versus the prior month.
For the 2023-02-01 period, Laurel had 98 MLS listings, a difference of -14 listings (-13%) versus the prior month and 38 listings (63%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Laurel (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,818 sqft |
2018-02-01 | 0 days | 1,863 sqft |
2018-03-01 | 0 days | 1,893 sqft |
2018-04-01 | 0 days | 1,913 sqft |
2018-05-01 | 0 days | 1,926 sqft |
2018-06-01 | 0 days | 1,961 sqft |
2018-07-01 | 0 days | 1,941 sqft |
2018-08-01 | 0 days | 1,952 sqft |
2018-09-01 | 0 days | 1,967 sqft |
2018-10-01 | 0 days | 1,999 sqft |
2018-11-01 | 0 days | 1,981 sqft |
2018-12-01 | 0 days | 1,979 sqft |
2019-01-01 | 0 days | 1,979 sqft |
2019-02-01 | 0 days | 1,947 sqft |
2019-03-01 | 0 days | 1,970 sqft |
2019-04-01 | 0 days | 1,981 sqft |
2019-05-01 | 0 days | 1,944 sqft |
2019-06-01 | 0 days | 1,980 sqft |
2019-07-01 | 0 days | 2,006 sqft |
2019-08-01 | 0 days | 2,014 sqft |
2019-09-01 | 0 days | 2,006 sqft |
2019-10-01 | 0 days | 2,001 sqft |
2019-11-01 | 0 days | 2,000 sqft |
2019-12-01 | 0 days | 2,022 sqft |
2020-01-01 | 0 days | 1,929 sqft |
2020-02-01 | 0 days | 1,999 sqft |
2020-03-01 | 0 days | 2,145 sqft |
2020-04-01 | 0 days | 2,038 sqft |
2020-05-01 | 0 days | 1,999 sqft |
2020-06-01 | 0 days | 1,983 sqft |
2020-07-01 | 0 days | 1,919 sqft |
2020-08-01 | 0 days | 1,957 sqft |
2020-09-01 | 0 days | 1,996 sqft |
2020-10-01 | 0 days | 2,063 sqft |
2020-11-01 | 0 days | 2,079 sqft |
2020-12-01 | 0 days | 2,112 sqft |
2021-01-01 | 0 days | 2,025 sqft |
2021-02-01 | 0 days | 2,012 sqft |
2021-03-01 | 0 days | 1,885 sqft |
2021-04-01 | 0 days | 1,875 sqft |
2021-05-01 | 0 days | 1,770 sqft |
2021-06-01 | 0 days | 1,904 sqft |
2021-07-01 | 0 days | 1,948 sqft |
2021-08-01 | 0 days | 1,953 sqft |
2021-09-01 | 0 days | 2,076 sqft |
2021-10-01 | 0 days | 2,004 sqft |
2021-11-01 | 0 days | 1,977 sqft |
2021-12-01 | 0 days | 1,948 sqft |
2022-01-01 | 0 days | 1,933 sqft |
2022-02-01 | 0 days | 1,895 sqft |
2022-03-01 | 0 days | 1,866 sqft |
2022-04-01 | 0 days | 1,822 sqft |
2022-05-01 | 0 days | 1,831 sqft |
2022-06-01 | 0 days | 1,900 sqft |
2022-07-01 | 0 days | 1,907 sqft |
2022-08-01 | 0 days | 2,056 sqft |
2022-09-01 | 0 days | 2,037 sqft |
2022-10-01 | 0 days | 2,030 sqft |
2022-11-01 | 0 days | 1,963 sqft |
2022-12-01 | 0 days | 1,925 sqft |
2023-01-01 | 0 days | 1,891 sqft |
2023-02-01 | 0 days | 1,927 sqft |
Laurel's median square footage for active listings during the 2023-02-01 period was 1,927 sqft. One year prior, the average listing was 1,895 sqft.
Laurel, MS Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 685 | $110,685,000 | $161,584 |
Refi | 480 | $50,510,000 | $105,229 |
Other | 127 | $12,075,000 | $95,079 |
Cash Out Refi | 124 | $17,360,000 | $140,000 |
Home Improvement | 68 | $6,330,000 | $93,088 |
Laurel's most frequently cited loan purpose was Home Purchase, with 685 originations. The 2nd most popular reason was Refi, with 480 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 311 | $47,515,000 | $152,781 |
5-6% | 283 | $41,065,000 | $145,106 |
3-4% | 251 | $43,195,000 | $172,092 |
6-7% | 218 | $26,070,000 | $119,587 |
Over 8% | 122 | $8,890,000 | $72,869 |
7-8% | 115 | $11,105,000 | $96,565 |
<2.5% | 59 | $5,525,000 | $93,644 |
2.5-3% | 54 | $6,410,000 | $118,704 |
During 2022, Laurel's most frequently originated rate bucket was 4-5%, with 311 originations.
Loan Sizing (Laurel, MS MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 717 | $38,215,000 | $53,298 |
$100k-200k | 501 | $70,925,000 | $141,567 |
$200k-400k | 226 | $60,100,000 | $265,929 |
$400k-600k | 27 | $12,565,000 | $465,370 |
$600k-1000k | 8 | $5,600,000 | $700,000 |
$Over $1MM | 5 | $9,555,000 | $1,911,000 |
Laurel's loan sizing saw the bucket of loans from $100,000 or less with 717 originations, totaling $38,215,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 556 | $94,530,000 | $170,018 |
60-80% | 323 | $46,815,000 | $144,938 |
40-60% | 196 | $24,220,000 | $123,571 |
20-40% | 182 | $11,830,000 | $65,000 |
Under 20% | 114 | $5,060,000 | $44,386 |
Over 100% | 27 | $5,615,000 | $207,963 |
Laurel's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 556 originations, totaling $94,530,000 in origination value.