Laurinburg Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Laurinburg averaged
6.62%
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
6.66% and
one month ago for the week of 2023-08-10, the
average rate was 6.6%.
Laurinburg's average rate one year ago was 5.63%.
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% |
| Laurinburg 30 Year Fixed Rate | 2023-09-14 | 6.62% |
| Laurinburg 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
| Laurinburg 15 Year Fixed Rate | 2023-09-14 | 6.61% |
| Laurinburg 15 Year Fixed Rate Refi | 2023-09-14 | 6.51% |
| Laurinburg 30 Year FHA | 2023-09-14 | 6.88% |
| Laurinburg 30 Year FHA Refi | 2023-09-14 | 7.09% |
| Laurinburg 30 Year USDA | 2023-09-14 | 7.08% |
| Laurinburg 30 Year USDA Refi | 2023-09-14 | 6.78% |
| Laurinburg 30 Year VA | 2023-09-14 | 6.81% |
| Laurinburg 30 Year VA Refi | 2023-09-14 | 7.01% |
Laurinburg 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 Laurinburg, NC 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.).
Laurinburg Average Closing Costs & Other Stats
Laurinburg, NC's 50 lenders originated 535
loans during 2022. The total origination value was $86,935,000, with an average loan value of
$162,495.
Laurinburg's average closing costs are $4,626.
The top Laurinburg lender as defined by loan originations is STATE EMPLOYEES', with
35 loans originated. Their average total fees are
$3,579, which is $1,871
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Laurinburg lenders (with over 10 loans originated) are
STATE EMPLOYEES' ($3,579), LOCAL GOVERNMENT FEDERAL CREDIT UNION ($3,643), QUICKEN LOANS, LLC ($5,450), .
The lowest rate Laurinburg lenders (with over 10 loans originated) are
LOCAL GOVERNMENT FEDERAL CREDIT UNION (3.70%), STATE EMPLOYEES' (3.88%), QUICKEN LOANS, LLC (4.83%), .
Laurinburg, NC 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 |
|---|---|---|---|---|
| STATE EMPLOYEES' | $11,615,000 | $13,245,000 | 14.0% | 15.2% |
| QUICKEN LOANS, LLC | $12,965,000 | $5,975,000 | -53.9% | 6.9% |
| Mortgage Research Center, LLC | $3,730,000 | $4,185,000 | 12.2% | 4.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,505,000 | $3,915,000 | 160.1% | 4.5% |
| PNC Bank | $2,630,000 | $3,590,000 | 36.5% | 4.1% |
| First Bank | $8,270,000 | $3,085,000 | -62.7% | 3.5% |
| SOUTHERN TRUST MORTGAGE, LLC | $1,040,000 | $3,015,000 | 189.9% | 3.5% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $2,305,000 | $2,505,000 | 8.7% | 2.9% |
| Blue Ridge Bank | $2,800,000 | $2,455,000 | -12.3% | 2.8% |
| INTERCOASTAL MORTGAGE COMPANY | $1,460,000 | $2,305,000 | 57.9% | 2.7% |
| CALIBER HOME LOANS, INC. | $2,775,000 | $2,185,000 | -21.3% | 2.5% |
| Wells Fargo Bank | $2,370,000 | $1,965,000 | -17.1% | 2.3% |
| United Bank | $1,765,000 | n/a | 2.0% | |
| MOVEMENT MORTGAGE, LLC | $3,270,000 | $1,600,000 | -51.1% | 1.8% |
| NAVY FEDERAL CREDIT UNION | $900,000 | $1,570,000 | 74.4% | 1.8% |
| Truist | $1,460,000 | $1,390,000 | -4.8% | 1.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,910,000 | $1,350,000 | -29.3% | 1.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $250,000 | $1,325,000 | 430.0% | 1.5% |
| LOANDEPOT.COM, LLC | $1,180,000 | $1,245,000 | 5.5% | 1.4% |
| 21ST MORTGAGE CORPORATION | $1,405,000 | $1,020,000 | -27.4% | 1.2% |
| The Federal Savings Bank | $990,000 | n/a | 1.1% | |
| First National Bank of Pennsylvania | $970,000 | n/a | 1.1% | |
| USAA Federal Savings Bank | $340,000 | $900,000 | 164.7% | 1.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $780,000 | $895,000 | 14.7% | 1.0% |
| PREMIA MORTGAGE, LLC | $855,000 | n/a | 1.0% | |
| First-Citizens Bank & Trust Company | $590,000 | $790,000 | 33.9% | 0.9% |
| UNION HOME MORTGAGE CORP. | $335,000 | $755,000 | 125.4% | 0.9% |
| NFM, INC. | $1,140,000 | $750,000 | -34.2% | 0.9% |
| SOUTHWEST STAGE FUNDING, LLC | $85,000 | $745,000 | 776.5% | 0.9% |
| CMG MORTGAGE, INC. | $1,415,000 | $700,000 | -50.5% | 0.8% |
| CORNERSTONE HOME LENDING, INC. | $2,535,000 | $675,000 | -73.4% | 0.8% |
| GUARANTEED RATE, INC. | $670,000 | n/a | 0.8% | |
| American Security Mortgage Corp. | $1,115,000 | $630,000 | -43.5% | 0.7% |
| 1ST SIGNATURE LENDING, LLC | $215,000 | $585,000 | 172.1% | 0.7% |
| Wyndham Capital Mortgage, Inc. | $580,000 | n/a | 0.7% | |
| Prosperity Home Mortgage, LLC | $265,000 | $555,000 | 109.4% | 0.6% |
| BROKER SOLUTIONS, INC. | $280,000 | $505,000 | 80.4% | 0.6% |
| North American Savings Bank, F.S.B. | $500,000 | n/a | 0.6% | |
| Mr. Cooper ( Nationstar Mortgage ) | $1,330,000 | $485,000 | -63.5% | 0.6% |
| Carrington Mortgage Services, LLC | $600,000 | $405,000 | -32.5% | 0.5% |
| The Fidelity Bank | $405,000 | n/a | 0.5% | |
| DAS Acquisition Company, LLC | $370,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $3,060,000 | $360,000 | -88.2% | 0.4% |
| Uwharrie Bank | $350,000 | n/a | 0.4% | |
| ARC HOME LLC | $85,000 | $345,000 | 305.9% | 0.4% |
| BNC National Bank | $345,000 | n/a | 0.4% | |
| Equity Prime Mortgage LLC | $345,000 | n/a | 0.4% | |
| FIRST COMMUNITY MORTGAGE, INC. | $345,000 | n/a | 0.4% | |
| Alcova Mortgage LLC | $135,000 | $340,000 | 151.9% | 0.4% |
| SUMMIT FUNDING, INC. | $340,000 | n/a | 0.4% | |
| MID AMERICA MORTGAGE, INC. | $320,000 | n/a | 0.4% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $295,000 | n/a | 0.3% | |
| PLAZA HOME MORTGAGE, INC. | $295,000 | n/a | 0.3% | |
| American National Bank and Trust Company | $285,000 | n/a | 0.3% | |
| CLEARPATH LENDING | $525,000 | $285,000 | -45.7% | 0.3% |
| U.S. Bank | $280,000 | n/a | 0.3% | |
| NEWREZ LLC | $305,000 | $275,000 | -9.8% | 0.3% |
| HOME POINT FINANCIAL CORPORATION | $270,000 | n/a | 0.3% | |
| Regions Bank | $255,000 | n/a | 0.3% | |
| AMERICAN FINANCING CORPORATION | $235,000 | n/a | 0.3% | |
| GoPrime Mortgage, Inc. | $930,000 | $235,000 | -74.7% | 0.3% |
| Magnolia Bank | $225,000 | n/a | 0.3% | |
| Northpointe Bank | $225,000 | n/a | 0.3% | |
| PLANET HOME LENDING, LLC | $115,000 | $225,000 | 95.7% | 0.3% |
| Towne Bank | $275,000 | $225,000 | -18.2% | 0.3% |
| Peoples Bank | $215,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $210,000 | n/a | 0.2% | |
| Lumbee Guaranty Bank | $150,000 | $205,000 | 36.7% | 0.2% |
| Midwest Bank | $205,000 | n/a | 0.2% | |
| Truliant Federal Credit Union | $195,000 | n/a | 0.2% | |
| Mid-Continent Funding, Inc. | $185,000 | n/a | 0.2% | |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $175,000 | n/a | 0.2% | |
| FINANCE OF AMERICA MORTGAGE LLC | $165,000 | n/a | 0.2% | |
| JPMorgan Chase Bank | $330,000 | $165,000 | -50.0% | 0.2% |
| OVM FINANCIAL, INC. | $445,000 | $165,000 | -62.9% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $180,000 | $160,000 | -11.1% | 0.2% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $185,000 | $155,000 | -16.2% | 0.2% |
| CONTOUR MORTGAGE CORPORATION | $155,000 | n/a | 0.2% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $250,000 | $155,000 | -38.0% | 0.2% |
| Figure Lending LLC | $150,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $145,000 | n/a | 0.2% | |
| TJC Mortgage, Inc. | $145,000 | n/a | 0.2% | |
| Citizens Bank | $135,000 | n/a | 0.2% | |
| Fifth Third Bank | $65,000 | $135,000 | 107.7% | 0.2% |
| UNITED | $135,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $125,000 | n/a | 0.1% | |
| NEW FED MORTGAGE, CORP. | $125,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $145,000 | $125,000 | -13.8% | 0.1% |
| Platinum Home Mortgage Corporation | $125,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $590,000 | $115,000 | -80.5% | 0.1% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $115,000 | n/a | 0.1% | |
| South State Bank | $225,000 | $115,000 | -48.9% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $645,000 | $105,000 | -83.7% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $105,000 | n/a | 0.1% | |
| THE MORTGAGE FIRM, INC. | $105,000 | n/a | 0.1% | |
| Third Federal Savings and Loan Association of Cleveland | $105,000 | n/a | 0.1% | |
| PENNYMAC LOAN SERVICES, LLC | $1,340,000 | $95,000 | -92.9% | 0.1% |
| THRIVE MORTGAGE, LLC | $95,000 | n/a | 0.1% | |
| Bank of America | $105,000 | $75,000 | -28.6% | 0.1% |
| Bank of England | $165,000 | $65,000 | -60.6% | 0.1% |
| Discover Bank | $145,000 | $65,000 | -55.2% | 0.1% |
| NEW DAY FINANCIAL, LLC | $545,000 | $65,000 | -88.1% | 0.1% |
| AMERICAN ADVISORS GROUP | $25,000 | $55,000 | 120.0% | 0.1% |
| JUSTICE Federal Credit Union | $55,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $55,000 | n/a | 0.1% | |
| SELF-HELP Credit Union | $35,000 | n/a | 0.0% | |
| Home Loan Investment Bank, F.S.B. | $25,000 | n/a | 0.0% | |
| PENTAGON FEDERAL CREDIT UNION | $410,000 | $25,000 | -93.9% | 0.0% |
Laurinburg's top lender by overall market share is STATE EMPLOYEES', with 15.2% market share. In second place, with 6.9%, is QUICKEN LOANS, LLC, having originated $5,975,000 in loans. In third place, with 4.8%, is Mortgage Research Center, LLC, having originated $4,185,000 in loans. In fourth place, with 4.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,915,000 in loans. In fifth place, with 4.1%, is PNC Bank, having originated $3,590,000 in loans.
Laurinburg, NC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 327 | $61,355,000 | $187,630 |
| Refi | 86 | $11,630,000 | $135,233 |
| Cash Out Refi | 62 | $9,560,000 | $154,194 |
| Home Improvement | 32 | $2,340,000 | $73,125 |
| Other | 28 | $2,050,000 | $73,214 |
Laurinburg's most frequently cited loan purpose was Home Purchase, with 327 originations. The 2nd most popular reason was Refi, with 86 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 132 | $21,670,000 | $164,167 |
| 3-4% | 130 | $21,090,000 | $162,231 |
| 4-5% | 105 | $21,525,000 | $205,000 |
| 6-7% | 50 | $8,270,000 | $165,400 |
| 2.5-3% | 46 | $5,050,000 | $109,783 |
| 7-8% | 30 | $4,250,000 | $141,667 |
| Over 8% | 20 | $1,980,000 | $99,000 |
| <2.5% | 14 | $2,680,000 | $191,429 |
During 2022, Laurinburg's most frequently originated rate bucket was 5-6%, with 132 originations.
Loan Sizing (Laurinburg, NC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 225 | $32,245,000 | $143,311 |
| $100,000 or less | 163 | $10,065,000 | $61,748 |
| $200k-400k | 135 | $37,925,000 | $280,926 |
| $400k-600k | 11 | $4,935,000 | $448,636 |
| $Over $1MM | 1 | $1,765,000 | $1,765,000 |
Laurinburg's loan sizing saw the bucket of loans from $100k-200k with 225 originations, totaling $32,245,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 289 | $54,665,000 | $189,152 |
| 60-80% | 108 | $16,620,000 | $153,889 |
| 40-60% | 57 | $8,215,000 | $144,123 |
| 20-40% | 36 | $2,610,000 | $72,500 |
| Under 20% | 23 | $735,000 | $31,957 |
| Over 100% | 13 | $3,445,000 | $265,000 |
Laurinburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 289 originations, totaling $54,665,000 in origination value.