Ludington Mortgage Rates & Closing Costs

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  • Trends
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Ludington averaged 6.9% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2024-12-05) was 7.09% and one month ago for the week of 2024-11-07, the average rate was 6.99%.

    Ludington's average rate one year ago was 7.43%.

    For refis of the same type during the week of 2024-12-12, the average rate was 6.8%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-12-12 6.6%
    Ludington 30 Year Fixed Rate 2024-12-12 6.9%
    Ludington 30 Year Fixed Rate Refi 2024-12-12 6.8%
    Ludington 15 Year Fixed Rate 2024-12-12 6.04%
    Ludington 15 Year Fixed Rate Refi 2024-12-12 6.14%
    Ludington 30 Year FHA 2024-12-12 6.38%
    Ludington 30 Year FHA Refi 2024-12-12 6.48%
    Ludington 30 Year USDA 2024-12-12 6.5%
    Ludington 30 Year USDA Refi 2024-12-12 6.1%
    Ludington 30 Year VA 2024-12-12 6.18%
    Ludington 30 Year VA Refi 2024-12-12 5.98%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ludington, MI.

    Ludington 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 Ludington, MI 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE 1 INCORPORATED 20 7.09% $5,174
    QUICKEN LOANS, LLC 11 6.60% $5,348
    UNITED WHOLESALE MORTGAGE, LLC 8 7.14% $4,307
    Neighborhood Loans, Inc. 7 6.93% $5,456
    NEWREZ LLC 5 7.20% $5,422
    Independent Bank 4 7.13% $4,675
    LAKE MICHIGAN CREDIT UNION 4 6.81% $4,294
    MORTGAGE CENTER L.C 3 6.71% $4,088
    JPMorgan Chase Bank 3 7.46% $3,101
    ChoiceOne Bank 3 6.63% $2,286
    Fifth Third Bank 2 6.99% $3,478
    PREFERRED CREDIT UNION 2 6.50% $4,137
    MICHIGAN FIRST CREDIT UNION 2 9.63% $7,101
    The Dart Bank 2 6.19% $3,382
    The Huntington National Bank 2 6.81% $3,741
    TOP FLITE FINANCIAL, INC. 2 7.25% $4,824
    GUILD MORTGAGE COMPANY 2 7.81% $6,063
    CONSUMERS 2 7.13% $5,759
    U.S. Bank 2 6.69% $250
    CROSSCOUNTRY MORTGAGE, LLC 2 7.35% $10,238
    NORTHERN MORTGAGE SERVICES, LLC 1 7.49% $6,338
    Paramount Residential Mortgage Group, Inc. 1 7.63% $5,998
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $1,982
    PFCU 1 6.75% $3,470
    PNC Bank 1 6.50% $6,792
    United Bank of Michigan 1 5.75% $2,552
    AMERICAN HERITAGE LENDING, INC. 1 9.50% $6,186
    WRIGHT-PATT CREDIT UNION, INC. 1 6.88% $3,437
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $6,810
    AMERISAVE MORTGAGE CORPORATION 1 6.50% $5,136
    CALIBER HOME LOANS, INC. 1 7.13% $9,673
    Citizens Bank 1 6.50% $3,927
    Dort Financial Credit Union 1 7.00% $2,623
    DOW CHEMICAL EMPLOYEES' 1 7.13% $7,271
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.50% $2,582
    FIRST COMMUNITY MORTGAGE, INC. 1 6.88% $11,759
    Flagstar Bank, FSB 1 6.61% $8,100
    GREENSTATE CREDIT UNION 1 7.13% $7,731
    GreenStone Farm Credit Services, FLCA 1 6.85% $4,310
    GUARANTEED RATE, INC. 1 7.63% $6,990
    Macatawa Bank 1 4.75% $3,153
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1 6.63% $5,033
    Midwest BankCentre 1 6.13% $4,297
    Morgan Stanley Private Bank 1 7.25% $2,930
    NAVY FEDERAL CREDIT UNION 1 5.88% $2,197
    NBKC BANK 1 6.88% $2,747
    NexBank 1 7.63% $4,683

    Ludington Average Closing Costs & Other Stats

    Ludington, MI's 47 lenders originated 329 loans during 2023. The total origination value was $58,775,000, with an average loan value of $178,647.

    Ludington's average closing costs are $4,271.

    The top Ludington lender as defined by loan originations is MORTGAGE 1 INCORPORATED, with 20 loans originated. Their average total fees are $5,174, which is $174 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Ludington lenders (with over 10 loans originated) are MORTGAGE 1 INCORPORATED ($5,174), QUICKEN LOANS, LLC ($5,348), .

    The lowest rate Ludington lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.60%), MORTGAGE 1 INCORPORATED (7.09%), .

    Ludington, MI 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    QUICKEN LOANS, LLC $9,770,000 $5,655,000 -42.1% 9.6%
    MORTGAGE 1 INCORPORATED $7,950,000 $5,485,000 -31.0% 9.3%
    UNITED WHOLESALE MORTGAGE, LLC $1,270,000 $3,180,000 150.4% 5.4%
    First Merchants Bank $2,885,000 n/a 4.9%
    LAKE MICHIGAN CREDIT UNION $8,435,000 $2,845,000 -66.3% 4.8%
    Independent Bank $1,450,000 $2,710,000 86.9% 4.6%
    The Huntington National Bank $7,235,000 $2,585,000 -64.3% 4.4%
    The Shelby State Bank $2,490,000 $1,910,000 -23.3% 3.2%
    Fifth Third Bank $6,830,000 $1,750,000 -74.4% 3.0%
    PNC Bank $3,790,000 $1,425,000 -62.4% 2.4%
    CONSUMERS $1,040,000 $1,385,000 33.2% 2.4%
    Neighborhood Loans, Inc. $2,120,000 $1,365,000 -35.6% 2.3%
    GreenStone Farm Credit Services, FLCA $775,000 $1,215,000 56.8% 2.1%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,450,000 $1,150,000 -20.7% 2.0%
    NEWREZ LLC $1,055,000 n/a 1.8%
    GUILD MORTGAGE COMPANY $940,000 n/a 1.6%
    ChoiceOne Bank $225,000 $930,000 313.3% 1.6%
    Midwest BankCentre $750,000 n/a 1.3%
    CROSSCOUNTRY MORTGAGE, LLC $885,000 $745,000 -15.8% 1.3%
    Flagstar Bank, FSB $455,000 $685,000 50.5% 1.2%
    JPMorgan Chase Bank $1,540,000 $685,000 -55.5% 1.2%
    The Dart Bank $1,035,000 $670,000 -35.3% 1.1%
    AMERISAVE MORTGAGE CORPORATION $235,000 $635,000 170.2% 1.1%
    FIRST COMMUNITY MORTGAGE, INC. $610,000 n/a 1.0%
    Commerce Bank $585,000 n/a 1.0%
    MICHIGAN FIRST CREDIT UNION $560,000 n/a 1.0%
    MORTGAGE CENTER L.C $515,000 n/a 0.9%
    CHURCHILL MORTGAGE CORPORATION $505,000 n/a 0.9%
    GUARANTEED RATE, INC. $445,000 $495,000 11.2% 0.8%
    TOP FLITE FINANCIAL, INC. $455,000 n/a 0.8%
    PREFERRED CREDIT UNION $2,030,000 $440,000 -78.3% 0.7%
    Mortgage Research Center, LLC $1,875,000 $430,000 -77.1% 0.7%
    NAVY FEDERAL CREDIT UNION $820,000 $390,000 -52.4% 0.7%
    CALIBER HOME LOANS, INC. $1,420,000 $385,000 -72.9% 0.7%
    DOW CHEMICAL EMPLOYEES' $235,000 $385,000 63.8% 0.7%
    TRIAD FINANCIAL SERVICES, INC. $775,000 $375,000 -51.6% 0.6%
    GREENSTATE CREDIT UNION $370,000 n/a 0.6%
    Old National Bank $340,000 n/a 0.6%
    U.S. Bank $340,000 n/a 0.6%
    PENTAGON FEDERAL CREDIT UNION $335,000 n/a 0.6%
    BAY EQUITY LLC $315,000 n/a 0.5%
    Macatawa Bank $620,000 $315,000 -49.2% 0.5%
    Morgan Stanley Private Bank $315,000 n/a 0.5%
    NBKC BANK $285,000 n/a 0.5%
    Dort Financial Credit Union $185,000 $280,000 51.4% 0.5%
    Mercantile Bank of Michigan $2,240,000 $275,000 -87.7% 0.5%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $275,000 n/a 0.5%
    PFCU $265,000 n/a 0.5%
    PROVIDENT FUNDING ASSOCIATES, L.P. $255,000 n/a 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $355,000 $250,000 -29.6% 0.4%
    NexBank $235,000 n/a 0.4%
    United Bank of Michigan $605,000 $235,000 -61.2% 0.4%
    DRAPER AND KRAMER MORTGAGE CORP. $205,000 n/a 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $660,000 $205,000 -68.9% 0.3%
    University Bank $205,000 n/a 0.3%
    UNION HOME MORTGAGE CORP. $200,000 n/a 0.3%
    UNITED $200,000 n/a 0.3%
    BROKER SOLUTIONS, INC. $225,000 $185,000 -17.8% 0.3%
    NORTHERN MORTGAGE SERVICES, LLC $205,000 $185,000 -9.8% 0.3%
    Citizens Bank $730,000 $180,000 -75.3% 0.3%
    ADVIA $85,000 $175,000 105.9% 0.3%
    COPOCO Community Credit Union $155,000 n/a 0.3%
    Paramount Residential Mortgage Group, Inc. $155,000 n/a 0.3%
    Honor Credit Union $830,000 $150,000 -81.9% 0.3%
    AMERICAN PACIFIC MORTGAGE CORPORATION $145,000 n/a 0.2%
    AMERICAN HERITAGE LENDING, INC. $135,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $495,000 $135,000 -72.7% 0.2%
    Northstar Bank $125,000 n/a 0.2%
    Bank of America $710,000 $115,000 -83.8% 0.2%
    Clearview Federal Credit Union $105,000 n/a 0.2%
    FINANCE OF AMERICA REVERSE LLC $95,000 n/a 0.2%
    Centier Bank $35,000 $90,000 157.1% 0.2%
    Ally Bank $185,000 $85,000 -54.1% 0.1%
    STOCKTON MORTGAGE CORPORATION $85,000 n/a 0.1%
    LENDINGHOME FUNDING CORPORATION $75,000 n/a 0.1%
    ROYAL UNITED MORTGAGE LLC $75,000 $75,000 0.0% 0.1%
    21ST MORTGAGE CORPORATION $250,000 $70,000 -72.0% 0.1%
    Figure Lending LLC $215,000 $70,000 -67.4% 0.1%
    ELGA CREDIT UNION $65,000 n/a 0.1%
    S&T Bank $65,000 n/a 0.1%
    Comerica Bank $55,000 n/a 0.1%
    FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $55,000 n/a 0.1%
    PHH Mortgage Corporation $270,000 $55,000 -79.6% 0.1%
    WRIGHT-PATT CREDIT UNION, INC. $55,000 n/a 0.1%
    UNIVERSITY OF MICHIGAN CREDIT UNION $45,000 n/a 0.1%
    VIBE CREDIT UNION $25,000 n/a 0.0%
    CREDIT UNION ONE $110,000 $15,000 -86.4% 0.0%
    Coastal Community Bank $5,000 n/a 0.0%

    Ludington's top lender by overall market share is QUICKEN LOANS, LLC, with 9.6% market share. In second place, with 9.3%, is MORTGAGE 1 INCORPORATED, having originated $5,485,000 in loans. In third place, with 5.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,180,000 in loans. In fourth place, with 4.9%, is First Merchants Bank, having originated $2,885,000 in loans. In fifth place, with 4.8%, is LAKE MICHIGAN CREDIT UNION, having originated $2,845,000 in loans.

    Ludington Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Ludington (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 $192,950 (19.3%) $283,324 (7.3%) 0.00 159
    2018-02-01 $189,900 (8.2%) $273,913 (-0.8%) 0.00 157
    2018-03-01 $189,900 (7.5%) $273,751 (1.5%) 0.00 146
    2018-04-01 $199,900 (24.9%) $278,902 (8.7%) 0.00 161
    2018-05-01 $199,900 (16.9%) $287,104 (12.2%) 0.00 169
    2018-06-01 $212,500 (18.1%) $300,738 (12.4%) 0.00 196
    2018-07-01 $214,975 (19.8%) $303,928 (15.1%) 0.00 207
    2018-08-01 $213,500 (22.1%) $299,790 (12.5%) 0.00 201
    2018-09-01 $199,900 (14.9%) $293,112 (7.2%) 0.00 200
    2018-10-01 $199,400 (11.0%) $282,495 (2.0%) 0.00 192
    2018-11-01 $192,425 (-1.3%) $276,325 (1.0%) 0.00 183
    2018-12-01 $182,400 (-4.0%) $276,735 (-1.5%) 0.00 162
    2019-01-01 $182,425 (-5.5%) $273,911 (-3.3%) 0.00 151
    2019-02-01 $182,425 (-3.9%) $275,393 (0.5%) 0.00 146
    2019-03-01 $191,329 (0.8%) $280,582 (2.5%) 0.00 144
    2019-04-01 $195,379 (-2.3%) $280,745 (0.7%) 0.00 149
    2019-05-01 $194,900 (-2.5%) $267,053 (-7.0%) 0.00 165
    2019-06-01 $215,000 (1.2%) $271,758 (-9.6%) 0.00 176
    2019-07-01 $229,000 (6.5%) $285,115 (-6.2%) 0.00 196
    2019-08-01 $225,627 (5.7%) $287,143 (-4.2%) 0.00 197
    2019-09-01 $231,293 (15.7%) $289,609 (-1.2%) 0.00 195
    2019-10-01 $235,070 (17.9%) $292,701 (3.6%) 0.00 193
    2019-11-01 $205,000 (6.5%) $282,768 (2.3%) 0.00 186
    2019-12-01 $221,875 (21.6%) $285,339 (3.1%) 0.00 170
    2020-01-01 $224,750 (23.2%) $281,141 (2.6%) 0.00 147
    2020-02-01 $225,000 (23.3%) $272,774 (-1.0%) 0.00 141
    2020-03-01 $236,500 (23.6%) $283,315 (1.0%) 0.00 137
    2020-04-01 $235,500 (20.5%) $284,463 (1.3%) 0.00 131
    2020-05-01 $236,500 (21.3%) $281,137 (5.3%) 0.00 149
    2020-06-01 $232,000 (7.9%) $290,200 (6.8%) 0.00 147
    2020-07-01 $246,925 (7.8%) $312,841 (9.7%) 0.00 134
    2020-08-01 $249,000 (10.4%) $339,131 (18.1%) 0.00 108
    2020-09-01 $241,500 (4.4%) $337,030 (16.4%) 0.00 94
    2020-10-01 $215,000 (-8.5%) $323,689 (10.6%) 0.00 86
    2020-11-01 $219,225 (6.9%) $322,046 (13.9%) 0.00 81
    2020-12-01 $224,225 (1.1%) $323,623 (13.4%) 0.00 71
    2021-01-01 $244,900 (9.0%) $324,436 (15.4%) 0.00 54
    2021-02-01 $272,450 (21.1%) $354,514 (30.0%) 0.00 48
    2021-03-01 $280,100 (18.4%) $368,242 (30.0%) 0.00 41
    2021-04-01 $299,000 (27.0%) $421,345 (48.1%) 0.00 56
    2021-05-01 $299,000 (26.4%) $377,554 (34.3%) 0.00 59
    2021-06-01 $296,500 (27.8%) $386,676 (33.2%) 0.00 70
    2021-07-01 $295,000 (19.5%) $372,867 (19.2%) 0.00 68
    2021-08-01 $299,725 (20.4%) $378,634 (11.7%) 0.00 67
    2021-09-01 $281,975 (16.8%) $359,984 (6.8%) 0.00 67
    2021-10-01 $279,000 (29.8%) $341,925 (5.6%) 0.00 65
    2021-11-01 $277,000 (26.4%) $401,636 (24.7%) 0.00 52
    2021-12-01 $282,000 (25.8%) $397,551 (22.8%) 0.00 55
    2022-01-01 $342,000 (39.7%) $452,597 (39.5%) 0.00 44
    2022-02-01 $360,000 (32.1%) $475,940 (34.3%) 0.00 36
    2022-03-01 $335,950 (19.9%) $465,191 (26.3%) 0.00 33
    2022-04-01 $337,000 (12.7%) $466,554 (10.7%) 0.00 35
    2022-05-01 $397,500 (32.9%) $457,415 (21.2%) 0.00 51
    2022-06-01 $376,000 (26.8%) $439,483 (13.7%) 0.00 55
    2022-07-01 $289,900 (-1.7%) $384,348 (3.1%) 0.00 67
    2022-08-01 $286,675 (-4.4%) $384,896 (1.7%) 0.00 79
    2022-09-01 $288,725 (2.4%) $389,723 (8.3%) 0.00 78
    2022-10-01 $262,450 (-5.9%) $382,374 (11.8%) 0.00 81
    2022-11-01 $280,000 (1.1%) $391,989 (-2.4%) 0.00 73
    2022-12-01 $259,000 (-8.2%) $373,986 (-5.9%) 0.00 60
    2023-01-01 $236,175 (-30.9%) $375,919 (-16.9%) 0.00 47
    2023-02-01 $229,850 (-36.2%) $375,917 (-21.0%) 0.00 36
    2023-03-01 $235,950 (-29.8%) $385,323 (-17.2%) 0.00 32
    2023-04-01 $289,900 (-14.0%) $375,418 (-19.5%) 0.00 31
    2023-05-01 $287,000 (-27.8%) $411,757 (-10.0%) 0.00 40
    2023-06-01 $287,000 (-23.7%) $401,862 (-8.6%) 0.00 44
    2023-07-01 $304,500 (5.0%) $432,436 (12.5%) 0.00 45
    2023-08-01 $296,900 (3.6%) $422,917 (9.9%) 0.00 52
    2023-09-01 $298,950 (3.5%) $401,378 (3.0%) 0.00 67
    2023-10-01 $299,675 (14.2%) $401,740 (5.1%) 0.00 72
    2023-11-01 $360,000 (28.6%) $421,564 (7.5%) 0.00 75
    2023-12-01 $379,900 (46.7%) $445,188 (19.0%) 0.00 75
    2024-01-01 $384,725 (62.9%) $436,586 (16.1%) 0.00 65
    2024-02-01 $389,900 (69.6%) $437,577 (16.4%) 0.00 61
    2024-03-01 $389,900 (65.3%) $399,974 (3.8%) 0.00 74
    2024-04-01 $394,000 (35.9%) $405,404 (8.0%) 0.00 82
    2024-05-01 $380,000 (32.4%) $416,262 (1.1%) 0.00 94
    2024-06-01 $357,450 (24.6%) $420,586 (4.7%) 0.00 104
    2024-07-01 $364,700 (19.8%) $426,736 (-1.3%) 0.00 106
    2024-08-01 $368,700 (24.2%) $431,837 (2.1%) 0.00 106
    2024-09-01 $310,000 (3.7%) $411,406 (2.5%) 0.00 113
    2024-10-01 $297,475 (-0.7%) $386,263 (-3.9%) 0.00 108
    2024-11-01 $290,000 (-19.4%) $372,550 (-11.6%) 0.00 109
    Ludington's median listing price for 2024-11-01 was $290,000, a difference of $-70,000 (-19.4%) versus the prior year and $-7,475 versus the prior month.

    Ludington's median listing price comes in at 0% of the national average.

    Ludington's average listing price for 2024-11-01 was $372,550, a difference of $-49,014 (-11.6%) versus the prior year and $-13,713 versus the prior month.

    For the 2024-11-01 period, Ludington had 109 MLS listings, a difference of 1 listings (1%) versus the prior month and 34 listings (45%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ludington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,778 sqft
    2018-02-01 0 days 1,744 sqft
    2018-03-01 0 days 1,720 sqft
    2018-04-01 0 days 1,656 sqft
    2018-05-01 0 days 1,590 sqft
    2018-06-01 0 days 1,650 sqft
    2018-07-01 0 days 1,611 sqft
    2018-08-01 0 days 1,614 sqft
    2018-09-01 0 days 1,624 sqft
    2018-10-01 0 days 1,678 sqft
    2018-11-01 0 days 1,610 sqft
    2018-12-01 0 days 1,648 sqft
    2019-01-01 0 days 1,690 sqft
    2019-02-01 0 days 1,706 sqft
    2019-03-01 0 days 1,751 sqft
    2019-04-01 0 days 1,759 sqft
    2019-05-01 0 days 1,700 sqft
    2019-06-01 0 days 1,644 sqft
    2019-07-01 0 days 1,755 sqft
    2019-08-01 0 days 1,764 sqft
    2019-09-01 0 days 1,756 sqft
    2019-10-01 0 days 1,750 sqft
    2019-11-01 0 days 1,712 sqft
    2019-12-01 0 days 1,700 sqft
    2020-01-01 0 days 1,655 sqft
    2020-02-01 0 days 1,624 sqft
    2020-03-01 0 days 1,611 sqft
    2020-04-01 0 days 1,520 sqft
    2020-05-01 0 days 1,570 sqft
    2020-06-01 0 days 1,619 sqft
    2020-07-01 0 days 1,696 sqft
    2020-08-01 0 days 1,700 sqft
    2020-09-01 0 days 1,700 sqft
    2020-10-01 0 days 1,616 sqft
    2020-11-01 0 days 1,597 sqft
    2020-12-01 0 days 1,489 sqft
    2021-01-01 0 days 1,452 sqft
    2021-02-01 0 days 1,523 sqft
    2021-03-01 0 days 1,523 sqft
    2021-04-01 0 days 1,523 sqft
    2021-05-01 0 days 1,792 sqft
    2021-06-01 0 days 1,723 sqft
    2021-07-01 0 days 1,644 sqft
    2021-08-01 0 days 1,583 sqft
    2021-09-01 0 days 1,562 sqft
    2021-10-01 0 days 1,562 sqft
    2021-11-01 0 days 1,590 sqft
    2021-12-01 0 days 1,561 sqft
    2022-01-01 0 days 1,602 sqft
    2022-02-01 0 days 1,902 sqft
    2022-03-01 0 days 2,006 sqft
    2022-04-01 0 days 1,995 sqft
    2022-05-01 0 days 2,091 sqft
    2022-06-01 0 days 2,186 sqft
    2022-07-01 0 days 1,874 sqft
    2022-08-01 0 days 1,781 sqft
    2022-09-01 0 days 1,799 sqft
    2022-10-01 0 days 1,730 sqft
    2022-11-01 0 days 1,773 sqft
    2022-12-01 0 days 1,624 sqft
    2023-01-01 0 days 1,510 sqft
    2023-02-01 0 days 1,567 sqft
    2023-03-01 0 days 1,568 sqft
    2023-04-01 0 days 1,600 sqft
    2023-05-01 0 days 1,619 sqft
    2023-06-01 0 days 1,512 sqft
    2023-07-01 0 days 1,568 sqft
    2023-08-01 0 days 1,557 sqft
    2023-09-01 0 days 1,663 sqft
    2023-10-01 0 days 1,692 sqft
    2023-11-01 0 days 1,752 sqft
    2023-12-01 0 days 1,780 sqft
    2024-01-01 0 days 1,722 sqft
    2024-02-01 0 days 1,704 sqft
    2024-03-01 0 days 1,780 sqft
    2024-04-01 0 days 1,780 sqft
    2024-05-01 0 days 1,780 sqft
    2024-06-01 0 days 1,754 sqft
    2024-07-01 0 days 1,774 sqft
    2024-08-01 0 days 1,754 sqft
    2024-09-01 0 days 1,701 sqft
    2024-10-01 0 days 1,679 sqft
    2024-11-01 0 days 1,630 sqft
    Ludington's median listing age (time on market) for 2024-11-01 was 0 days.

    Ludington's median square footage for active listings during the 2024-11-01 period was 1,630 sqft. One year prior, the average listing was 1,752 sqft.

    Ludington, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 187 $43,105,000 $230,508
    Cash Out Refi 46 $6,440,000 $140,000
    Home Improvement 38 $2,410,000 $63,421
    Other 29 $2,975,000 $102,586
    Refi 29 $3,845,000 $132,586

    Ludington's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 117 $22,455,000 $191,923
    7-8% 91 $19,555,000 $214,890
    Over 8% 61 $4,875,000 $79,918
    5-6% 39 $7,385,000 $189,359
    2.5-3% 2 $920,000 $460,000
    4-5% 2 $780,000 $390,000
    3-4% 1 $405,000 $405,000

    During 2023, Ludington's most frequently originated rate bucket was 6-7%, with 117 originations.

    Loan Sizing (Ludington, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 115 $6,485,000 $56,391
    $100k-200k 108 $15,880,000 $147,037
    $200k-400k 85 $22,675,000 $266,765
    $400k-600k 16 $7,660,000 $478,750
    $600k-1000k 3 $1,915,000 $638,333
    $Over $1MM 2 $4,160,000 $2,080,000

    Ludington's loan sizing saw the bucket of loans from $100,000 or less with 115 originations, totaling $6,485,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 108 $25,270,000 $233,981
    60-80% 70 $18,360,000 $262,286
    20-40% 47 $4,255,000 $90,532
    Under 20% 43 $2,075,000 $48,256
    40-60% 39 $5,995,000 $153,718
    Over 100% 1 $205,000 $205,000

    Ludington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 108 originations, totaling $25,270,000 in origination value.