Ludington Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ludington averaged
7.35%
for the week of 2023-09-21, compared to the national average of
7.19% for the same period.
The average rate for the prior week (2023-09-14) was
7.24% and
one month ago for the week of 2023-08-17, the
average rate was 7.25%.
Ludington's average rate one year ago was 5.98%.
For refis of the same type during the week of 2023-09-21, the average rate
was 7.79%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-09-21 | 7.19% |
Ludington 30 Year Fixed Rate | 2023-09-21 | 7.35% |
Ludington 30 Year Fixed Rate Refi | 2023-09-21 | 7.79% |
Ludington 15 Year Fixed Rate | 2023-09-21 | 6.74% |
Ludington 15 Year Fixed Rate Refi | 2023-09-21 | 6.54% |
Ludington 30 Year FHA | 2023-09-21 | 7.04% |
Ludington 30 Year FHA Refi | 2023-09-21 | 7.04% |
Ludington 30 Year USDA | 2023-09-21 | 7.12% |
Ludington 30 Year USDA Refi | 2023-09-21 | 7.22% |
Ludington 30 Year VA | 2023-09-21 | 6.62% |
Ludington 30 Year VA Refi | 2023-09-21 | 6.72% |
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.).
Ludington Average Closing Costs & Other Stats
Ludington, MI's 61 lenders originated 553
loans during 2022. The total origination value was $97,065,000, with an average loan value of
$175,524.
Ludington's average closing costs are $4,106.
The top Ludington lender as defined by loan originations is QUICKEN LOANS, LLC, with
26 loans originated. Their average total fees are
$6,556, which is $1,964
higher than the next largest lender,
MORTGAGE 1 INCORPORATED.
The lowest fee Ludington lenders (with over 10 loans originated) are
Fifth Third Bank ($2,790), LAKE MICHIGAN CREDIT UNION ($3,572), The Huntington National Bank ($3,858), MORTGAGE 1 INCORPORATED ($4,592) and QUICKEN LOANS, LLC ($6,556).
The lowest rate Ludington lenders (with over 10 loans originated) are
Fifth Third Bank (4.47%), LAKE MICHIGAN CREDIT UNION (4.59%), The Huntington National Bank (4.96%), QUICKEN LOANS, LLC (5.23%) and MORTGAGE 1 INCORPORATED (5.32%).
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $22,580,000 | $9,770,000 | -56.7% | 10.1% |
LAKE MICHIGAN CREDIT UNION | $10,825,000 | $8,435,000 | -22.1% | 8.7% |
MORTGAGE 1 INCORPORATED | $12,390,000 | $7,950,000 | -35.8% | 8.2% |
The Huntington National Bank | $9,080,000 | $7,235,000 | -20.3% | 7.5% |
Fifth Third Bank | $8,790,000 | $6,830,000 | -22.3% | 7.0% |
PNC Bank | $4,250,000 | $3,790,000 | -10.8% | 3.9% |
The Shelby State Bank | $3,560,000 | $2,490,000 | -30.1% | 2.6% |
Mercantile Bank of Michigan | $2,750,000 | $2,240,000 | -18.5% | 2.3% |
Neighborhood Loans, Inc. | $990,000 | $2,120,000 | 114.1% | 2.2% |
PREFERRED CREDIT UNION | $6,785,000 | $2,030,000 | -70.1% | 2.1% |
Mortgage Research Center, LLC | $1,800,000 | $1,875,000 | 4.2% | 1.9% |
JPMorgan Chase Bank | $1,730,000 | $1,540,000 | -11.0% | 1.6% |
J. VIRGIL, INC. | $650,000 | $1,540,000 | 136.9% | 1.6% |
Independent Bank | $3,710,000 | $1,450,000 | -60.9% | 1.5% |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $710,000 | $1,450,000 | 104.2% | 1.5% |
CALIBER HOME LOANS, INC. | $845,000 | $1,420,000 | 68.0% | 1.5% |
Northpointe Bank | $310,000 | $1,390,000 | 348.4% | 1.4% |
Nations Lending Corporation | $650,000 | $1,370,000 | 110.8% | 1.4% |
UNITED WHOLESALE MORTGAGE, LLC | $3,875,000 | $1,270,000 | -67.2% | 1.3% |
CONSUMERS | $1,145,000 | $1,040,000 | -9.2% | 1.1% |
The Dart Bank | $420,000 | $1,035,000 | 146.4% | 1.1% |
LOANDEPOT.COM, LLC | $1,070,000 | $915,000 | -14.5% | 0.9% |
CROSSCOUNTRY MORTGAGE, LLC | $205,000 | $885,000 | 331.7% | 0.9% |
Honor Credit Union | $15,000 | $830,000 | 5,433.3% | 0.9% |
SUCCESS MORTGAGE PARTNERS, INC. | $410,000 | $830,000 | 102.4% | 0.9% |
NAVY FEDERAL CREDIT UNION | $780,000 | $820,000 | 5.1% | 0.8% |
Wells Fargo Bank | $1,185,000 | $815,000 | -31.2% | 0.8% |
GreenStone Farm Credit Services, FLCA | $2,075,000 | $775,000 | -62.7% | 0.8% |
TRIAD FINANCIAL SERVICES, INC. | $860,000 | $775,000 | -9.9% | 0.8% |
DFCU FINANCIAL | $125,000 | $740,000 | 492.0% | 0.8% |
Citizens Bank | $485,000 | $730,000 | 50.5% | 0.8% |
Bank of America | $1,070,000 | $710,000 | -33.6% | 0.7% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $425,000 | $660,000 | 55.3% | 0.7% |
PLAZA HOME MORTGAGE, INC. | $655,000 | n/a | 0.7% | |
AMERIFIRST FINANCIAL CORPORATION | $1,555,000 | $650,000 | -58.2% | 0.7% |
Macatawa Bank | $620,000 | n/a | 0.6% | |
United Bank of Michigan | $265,000 | $605,000 | 128.3% | 0.6% |
UMB Bank | $595,000 | n/a | 0.6% | |
GENISYS | $125,000 | $585,000 | 368.0% | 0.6% |
STAR Financial Bank | $565,000 | n/a | 0.6% | |
Chicago Mortgage Solutions LLC | $215,000 | $540,000 | 151.2% | 0.6% |
FREEDOM MORTGAGE CORPORATION | $1,885,000 | $495,000 | -73.7% | 0.5% |
FINANCE OF AMERICA MORTGAGE LLC | $465,000 | n/a | 0.5% | |
Flagstar Bank, FSB | $770,000 | $455,000 | -40.9% | 0.5% |
GUARANTEED RATE, INC. | $555,000 | $445,000 | -19.8% | 0.5% |
VAN DYK MORTGAGE CORPORATION | $400,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $390,000 | $390,000 | 0.0% | 0.4% |
West Michigan Community Bank | $250,000 | $385,000 | 54.0% | 0.4% |
TOWNE MORTGAGE COMPANY | $380,000 | n/a | 0.4% | |
BNY Mellon | $375,000 | n/a | 0.4% | |
MID AMERICA MORTGAGE, INC. | $375,000 | n/a | 0.4% | |
Mr. Cooper ( Nationstar Mortgage ) | $790,000 | $355,000 | -55.1% | 0.4% |
MOVEMENT MORTGAGE, LLC | $335,000 | n/a | 0.3% | |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $600,000 | $325,000 | -45.8% | 0.3% |
KeyBank | $185,000 | $320,000 | 73.0% | 0.3% |
Wildfire Credit Union | $320,000 | n/a | 0.3% | |
INLANTA MORTGAGE, INC. | $460,000 | $295,000 | -35.9% | 0.3% |
STAR ONE CREDIT UNION | $275,000 | n/a | 0.3% | |
PHH Mortgage Corporation | $270,000 | n/a | 0.3% | |
RELIANCE FIRST CAPITAL, LLC | $105,000 | $265,000 | 152.4% | 0.3% |
21ST MORTGAGE CORPORATION | $1,125,000 | $250,000 | -77.8% | 0.3% |
RUOFF MORTGAGE COMPANY, INC. | $245,000 | n/a | 0.3% | |
AMERISAVE MORTGAGE CORPORATION | $800,000 | $235,000 | -70.6% | 0.2% |
DOW CHEMICAL EMPLOYEES' | $235,000 | n/a | 0.2% | |
BETTER MORTGAGE CORPORATION | $1,080,000 | $230,000 | -78.7% | 0.2% |
Adventure Credit Union | $735,000 | $225,000 | -69.4% | 0.2% |
Bank of Ann Arbor | $225,000 | n/a | 0.2% | |
BROKER SOLUTIONS, INC. | $505,000 | $225,000 | -55.4% | 0.2% |
ChoiceOne Bank | $905,000 | $225,000 | -75.1% | 0.2% |
Directions Credit Union, Inc. | $215,000 | n/a | 0.2% | |
Figure Lending LLC | $45,000 | $215,000 | 377.8% | 0.2% |
Guardian Savings Bank, A Federal Savings Bank | $205,000 | n/a | 0.2% | |
NORTHERN MORTGAGE SERVICES, LLC | $205,000 | n/a | 0.2% | |
PENNYMAC LOAN SERVICES, LLC | $1,410,000 | $205,000 | -85.5% | 0.2% |
USAA Federal Savings Bank | $240,000 | $200,000 | -16.7% | 0.2% |
POLARIS HOME FUNDING CORP. | $195,000 | n/a | 0.2% | |
Ally Bank | $335,000 | $185,000 | -44.8% | 0.2% |
Dort Financial Credit Union | $260,000 | $185,000 | -28.8% | 0.2% |
AmeriHome Mortgage Company, LLC | $175,000 | n/a | 0.2% | |
Horizon Bank | $175,000 | n/a | 0.2% | |
LAKEVIEW LOAN SERVICING, LLC | $430,000 | $165,000 | -61.6% | 0.2% |
UNIVERSITY LENDING GROUP, LLC | $285,000 | $165,000 | -42.1% | 0.2% |
LEGEND LENDING CORPORATION | $150,000 | n/a | 0.2% | |
RESIDENTIAL BANCORP. | $65,000 | $145,000 | 123.1% | 0.1% |
SUN WEST MORTGAGE COMPANY, INC. | $145,000 | n/a | 0.1% | |
AMERICAN FINANCING CORPORATION | $205,000 | $140,000 | -31.7% | 0.1% |
American Mortgage & Equity Consultants, Inc. | $690,000 | $135,000 | -80.4% | 0.1% |
The State Bank | $325,000 | $135,000 | -58.5% | 0.1% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $125,000 | n/a | 0.1% | |
BMO Harris Bank | $115,000 | n/a | 0.1% | |
CREDIT UNION ONE | $685,000 | $110,000 | -83.9% | 0.1% |
Carrington Mortgage Services, LLC | $105,000 | $105,000 | 0.0% | 0.1% |
PURDUE FEDERAL CREDIT UNION | $105,000 | n/a | 0.1% | |
MMS MORTGAGE SERVICES, LTD. | $95,000 | n/a | 0.1% | |
ADVIA | $85,000 | n/a | 0.1% | |
Hometown Lenders, Inc. | $75,000 | n/a | 0.1% | |
NUMARK CREDIT UNION | $75,000 | n/a | 0.1% | |
ROYAL UNITED MORTGAGE LLC | $75,000 | $75,000 | 0.0% | 0.1% |
ARBOR FINANCIAL CREDIT UNION | $105,000 | $65,000 | -38.1% | 0.1% |
MORIA DEVELOPMENT, INC. | $65,000 | n/a | 0.1% | |
AAC Credit Union | $45,000 | n/a | 0.0% | |
SPRING EQ, LLC | $45,000 | n/a | 0.0% | |
Centier Bank | $35,000 | n/a | 0.0% | |
Meijer Credit Union | $25,000 | n/a | 0.0% | |
COMMUNITY CHOICE CREDIT UNION | $55,000 | $15,000 | -72.7% | 0.0% |
Home Loan Investment Bank, F.S.B. | $15,000 | n/a | 0.0% |
Ludington's top lender by overall market share is QUICKEN LOANS, LLC, with 10.1% market share. In second place, with 8.7%, is LAKE MICHIGAN CREDIT UNION, having originated $8,435,000 in loans. In third place, with 8.2%, is MORTGAGE 1 INCORPORATED, having originated $7,950,000 in loans. In fourth place, with 7.5%, is The Huntington National Bank, having originated $7,235,000 in loans. In fifth place, with 7.0%, is Fifth Third Bank, having originated $6,830,000 in loans.
Ludington Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Ludington (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 | $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 | $225,845 (5.8%) | $288,126 (-3.9%) | 0.00 | 197 |
2019-09-01 | $231,839 (16.0%) | $292,065 (-0.4%) | 0.00 | 195 |
2019-10-01 | $236,500 (18.6%) | $296,316 (4.9%) | 0.00 | 194 |
2019-11-01 | $211,500 (9.9%) | $286,619 (3.7%) | 0.00 | 187 |
2019-12-01 | $222,000 (21.7%) | $289,737 (4.7%) | 0.00 | 171 |
2020-01-01 | $226,225 (24.0%) | $286,277 (4.5%) | 0.00 | 148 |
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 (10.3%) | $339,131 (17.7%) | 0.00 | 108 |
2020-09-01 | $241,500 (4.2%) | $337,030 (15.4%) | 0.00 | 94 |
2020-10-01 | $215,000 (-9.1%) | $323,689 (9.2%) | 0.00 | 86 |
2020-11-01 | $219,225 (3.7%) | $322,046 (12.4%) | 0.00 | 81 |
2020-12-01 | $224,225 (1.0%) | $323,623 (11.7%) | 0.00 | 71 |
2021-01-01 | $244,900 (8.3%) | $324,436 (13.3%) | 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 |
Ludington's median listing price comes in at 0% of the national average.
Ludington's average listing price for 2023-08-01 was $422,917, a difference of $38,021 (9.9%) versus the prior year and $-9,519 versus the prior month.
For the 2023-08-01 period, Ludington had 52 MLS listings, a difference of 7 listings (16%) versus the prior month and -27 listings (-34%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ludington (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,711 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 | 1,611 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 | 1,757 sqft |
2019-10-01 | 0 days | 1,752 sqft |
2019-11-01 | 0 days | 1,712 sqft |
2019-12-01 | 0 days | 1,703 sqft |
2020-01-01 | 0 days | 1,667 sqft |
2020-02-01 | 0 days | 1,624 sqft |
2020-03-01 | 0 days | 1,611 sqft |
2020-04-01 | 0 days | 1,540 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 |
Ludington's median square footage for active listings during the 2023-08-01 period was 1,557 sqft. One year prior, the average listing was 1,781 sqft.
Ludington, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 254 | $57,020,000 | $224,488 |
Cash Out Refi | 116 | $17,110,000 | $147,500 |
Refi | 97 | $14,435,000 | $148,814 |
Home Improvement | 50 | $4,390,000 | $87,800 |
Other | 36 | $4,110,000 | $114,167 |
Ludington's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Cash Out Refi, with 116 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 138 | $25,320,000 | $183,478 |
3-4% | 109 | $21,665,000 | $198,761 |
4-5% | 97 | $17,535,000 | $180,773 |
6-7% | 73 | $12,865,000 | $176,233 |
2.5-3% | 55 | $9,145,000 | $166,273 |
7-8% | 33 | $3,775,000 | $114,394 |
Over 8% | 18 | $1,720,000 | $95,556 |
<2.5% | 12 | $2,080,000 | $173,333 |
During 2022, Ludington's most frequently originated rate bucket was 5-6%, with 138 originations.
Loan Sizing (Ludington, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 196 | $28,430,000 | $145,051 |
$100,000 or less | 182 | $10,730,000 | $58,956 |
$200k-400k | 139 | $37,535,000 | $270,036 |
$400k-600k | 25 | $11,985,000 | $479,400 |
$600k-1000k | 10 | $7,380,000 | $738,000 |
$Over $1MM | 1 | $1,005,000 | $1,005,000 |
Ludington's loan sizing saw the bucket of loans from $100k-200k with 196 originations, totaling $28,430,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 150 | $34,480,000 | $229,867 |
60-80% | 148 | $33,670,000 | $227,500 |
40-60% | 89 | $13,775,000 | $154,775 |
20-40% | 78 | $7,830,000 | $100,385 |
Under 20% | 50 | $2,110,000 | $42,200 |
Over 100% | 5 | $1,115,000 | $223,000 |
Ludington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 150 originations, totaling $34,480,000 in origination value.