Ludington Mortgage Rates & Closing Costs

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

    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%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 26 5.23% $6,556
    MORTGAGE 1 INCORPORATED 23 5.32% $4,592
    LAKE MICHIGAN CREDIT UNION 16 4.59% $3,572
    Fifth Third Bank 12 4.47% $2,790
    The Huntington National Bank 10 4.96% $3,858
    CALIBER HOME LOANS, INC. 8 5.40% $4,947
    Neighborhood Loans, Inc. 7 4.89% $4,422
    UNITED WHOLESALE MORTGAGE, LLC 6 5.37% $5,339
    J. VIRGIL, INC. 6 5.94% $5,132
    Nations Lending Corporation 6 5.52% $6,154
    PREFERRED CREDIT UNION 5 4.08% $3,166
    Mercantile Bank of Michigan 5 5.25% $3,153
    CONSUMERS 4 5.97% $2,786
    Wells Fargo Bank 4 4.47% $4,089
    JPMorgan Chase Bank 4 4.75% $6,795
    Independent Bank 3 5.38% $3,732
    PNC Bank 3 5.17% $4,900
    Wildfire Credit Union 2 4.69% $2,284
    BETTER MORTGAGE CORPORATION 2 4.75% $3,789
    DFCU FINANCIAL 2 3.31% $6,854
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.31% $5,619
    GENISYS 2 4.31% $2,389
    LEGEND LENDING CORPORATION 2 6.44% $3,492
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 2 6.06% $4,277
    MID AMERICA MORTGAGE, INC. 2 5.88% $5,873
    NAVY FEDERAL CREDIT UNION 2 6.50% $2,151
    Northpointe Bank 2 3.94% $9,228
    PLAZA HOME MORTGAGE, INC. 2 4.63% $3,869
    The Dart Bank 2 4.56% $3,269
    AMERIFIRST FINANCIAL CORPORATION 1 6.13% $5,232
    LOANDEPOT.COM, LLC 1 5.88% $4,905
    DOW CHEMICAL EMPLOYEES' 1 6.50% $2,256
    The State Bank 1 3.25% $2,666
    UMB Bank 1 4.69% $2,517
    Dort Financial Credit Union 1 3.63% $2,553
    MOVEMENT MORTGAGE, LLC 1 5.44% $3,348
    Mr. Cooper ( Nationstar Mortgage ) 1 5.49% $7,754
    Directions Credit Union, Inc. 1 6.00% $2,254
    American Mortgage & Equity Consultants, Inc. 1 4.87% $3,035
    ChoiceOne Bank 1 7.38% $2,274
    NORTHERN MORTGAGE SERVICES, LLC 1 7.13% $5,136
    UNIVERSITY LENDING GROUP, LLC 1 3.75% $6,349
    AMERICAN FINANCING CORPORATION 1 4.38% $4,031
    BNY Mellon 1 2.75% $3,768
    POLARIS HOME FUNDING CORP. 1 5.88% $6,891
    Bank of Ann Arbor 1 3.88% $2,509
    Bank of America 1 2.50% $4,890
    RELIANCE FIRST CAPITAL, LLC 1 5.88% $8,831
    ROYAL UNITED MORTGAGE LLC 1 4.13% $6,719
    RUOFF MORTGAGE COMPANY, INC. 1 5.25% $2,590
    STAR Financial Bank 1 4.50% $4,969
    STAR ONE CREDIT UNION 1 6.25% $3,325
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $3,315
    Ally Bank 1 6.00% $2,869
    Honor Credit Union 1 4.25% $2,869
    Hometown Lenders, Inc. 1 5.37% $3,215
    INLANTA MORTGAGE, INC. 1 7.63% $7,623
    GreenStone Farm Credit Services, FLCA 1 6.65% $4,386
    Flagstar Bank, FSB 1 3.38% $2,173
    KeyBank 1 5.50% $3,026
    FINANCE OF AMERICA MORTGAGE LLC 1 4.38% $4,652

    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. 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 $225,845 (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 for 2023-08-01 was $296,900, a difference of $10,225 (3.6%) versus the prior year and $-7,600 versus the prior month.

    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. 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 1,711 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 listing age (time on market) for 2023-08-01 was 0 days.

    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.