Ludington Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ludington averaged
6.6%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.63% and
one month ago for the week of 2023-02-09, the
average rate was 6.22%.
Ludington's average rate one year ago was 4.15%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.96%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Ludington 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Ludington 30 Year Fixed Rate Refi | 2023-03-16 | 6.96% |
Ludington 15 Year Fixed Rate | 2023-03-16 | 6.63% |
Ludington 15 Year Fixed Rate Refi | 2023-03-16 | 5.93% |
Ludington 30 Year FHA | 2023-03-16 | 6.85% |
Ludington 30 Year FHA Refi | 2023-03-16 | 6.21% |
Ludington 30 Year USDA | 2023-03-16 | 6.54% |
Ludington 30 Year USDA Refi | 2023-03-16 | 6.58% |
Ludington 30 Year VA | 2023-03-16 | 6.51% |
Ludington 30 Year VA Refi | 2023-03-16 | 6.33% |
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 85 lenders originated 846
loans during 2021. The total origination value was $151,240,000, with an average loan value of
$178,771.
Ludington's average closing costs are $3,904.
The top Ludington lender as defined by loan originations is QUICKEN LOANS, LLC, with
53 loans originated. Their average total fees are
$4,859, which is $946
higher than the next largest lender,
MORTGAGE 1 INCORPORATED.
The lowest fee Ludington lenders (with over 10 loans originated) are
PREFERRED CREDIT UNION ($2,709), Fifth Third Bank ($3,150), LAKE MICHIGAN CREDIT UNION ($3,538), MORTGAGE 1 INCORPORATED ($3,913) and The Huntington National Bank ($4,102).
The lowest rate Ludington lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (2.95%), PREFERRED CREDIT UNION (3.00%), The Huntington National Bank (3.00%), LAKE MICHIGAN CREDIT UNION (3.03%) and QUICKEN LOANS, LLC (3.12%).
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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $15,305,000 | $22,580,000 | 47.5% | 14.9% |
MORTGAGE 1 INCORPORATED | $14,510,000 | $12,390,000 | -14.6% | 8.2% |
LAKE MICHIGAN CREDIT UNION | $5,715,000 | $10,825,000 | 89.4% | 7.2% |
The Huntington National Bank | $3,205,000 | $9,080,000 | 183.3% | 6.0% |
Fifth Third Bank | $4,995,000 | $8,790,000 | 76.0% | 5.8% |
PREFERRED CREDIT UNION | $8,145,000 | $6,785,000 | -16.7% | 4.5% |
PNC Bank | $3,975,000 | $4,250,000 | 6.9% | 2.8% |
UNITED WHOLESALE MORTGAGE, LLC | $2,820,000 | $3,875,000 | 37.4% | 2.6% |
Independent Bank | $2,150,000 | $3,710,000 | 72.6% | 2.5% |
The Shelby State Bank | $6,195,000 | $3,560,000 | -42.5% | 2.4% |
TCF National Bank | $5,170,000 | $3,510,000 | -32.1% | 2.3% |
Mercantile Bank of Michigan | $1,360,000 | $2,750,000 | 102.2% | 1.8% |
Old National Bank | $1,535,000 | $2,585,000 | 68.4% | 1.7% |
GreenStone Farm Credit Services, FLCA | $2,885,000 | $2,075,000 | -28.1% | 1.4% |
FREEDOM MORTGAGE CORPORATION | $595,000 | $1,885,000 | 216.8% | 1.2% |
Mortgage Research Center, LLC | $1,080,000 | $1,800,000 | 66.7% | 1.2% |
JPMorgan Chase Bank | $2,145,000 | $1,730,000 | -19.3% | 1.1% |
AMERIFIRST FINANCIAL CORPORATION | $3,185,000 | $1,555,000 | -51.2% | 1.0% |
PENNYMAC LOAN SERVICES, LLC | $490,000 | $1,410,000 | 187.8% | 0.9% |
Wells Fargo Bank | $1,420,000 | $1,185,000 | -16.5% | 0.8% |
CONSUMERS | $855,000 | $1,145,000 | 33.9% | 0.8% |
21ST MORTGAGE CORPORATION | $1,125,000 | n/a | 0.7% | |
BETTER MORTGAGE CORPORATION | $1,080,000 | n/a | 0.7% | |
Bank of America | $180,000 | $1,070,000 | 494.4% | 0.7% |
LOANDEPOT.COM, LLC | $1,595,000 | $1,070,000 | -32.9% | 0.7% |
Neighborhood Loans, Inc. | $2,565,000 | $990,000 | -61.4% | 0.7% |
CHERRY CREEK MORTGAGE, LLC | $980,000 | n/a | 0.6% | |
ChoiceOne Bank | $480,000 | $905,000 | 88.5% | 0.6% |
TRIAD FINANCIAL SERVICES, INC. | $125,000 | $860,000 | 588.0% | 0.6% |
CALIBER HOME LOANS, INC. | $2,055,000 | $845,000 | -58.9% | 0.6% |
AMERISAVE MORTGAGE CORPORATION | $545,000 | $800,000 | 46.8% | 0.5% |
Mr. Cooper ( Nationstar Mortgage ) | $740,000 | $790,000 | 6.8% | 0.5% |
NAVY FEDERAL CREDIT UNION | $1,045,000 | $780,000 | -25.4% | 0.5% |
MORTGAGE CENTER L.C | $775,000 | n/a | 0.5% | |
Flagstar Bank, FSB | $1,740,000 | $770,000 | -55.7% | 0.5% |
Adventure Credit Union | $630,000 | $735,000 | 16.7% | 0.5% |
VILLAGE CAPITAL & INVESTMENT LLC | $290,000 | $735,000 | 153.4% | 0.5% |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $690,000 | $710,000 | 2.9% | 0.5% |
American Mortgage & Equity Consultants, Inc. | $690,000 | n/a | 0.5% | |
CREDIT UNION ONE | $770,000 | $685,000 | -11.0% | 0.5% |
HOMESIDE FINANCIAL, LLC | $245,000 | $670,000 | 173.5% | 0.4% |
J. VIRGIL, INC. | $105,000 | $650,000 | 519.0% | 0.4% |
Nations Lending Corporation | $290,000 | $650,000 | 124.1% | 0.4% |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $330,000 | $600,000 | 81.8% | 0.4% |
GUARANTEED RATE, INC. | $165,000 | $555,000 | 236.4% | 0.4% |
T2 FINANCIAL LLC | $230,000 | $555,000 | 141.3% | 0.4% |
First Internet Bank of Indiana | $545,000 | n/a | 0.4% | |
PROPER RATE, LLC | $545,000 | n/a | 0.4% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,005,000 | $535,000 | -46.8% | 0.4% |
The Federal Savings Bank | $530,000 | n/a | 0.4% | |
UBS Bank USA | $525,000 | n/a | 0.3% | |
BROKER SOLUTIONS, INC. | $1,050,000 | $505,000 | -51.9% | 0.3% |
Citizens Bank | $485,000 | n/a | 0.3% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $285,000 | $470,000 | 64.9% | 0.3% |
INLANTA MORTGAGE, INC. | $325,000 | $460,000 | 41.5% | 0.3% |
IAA Credit Union | $445,000 | n/a | 0.3% | |
LAKEVIEW LOAN SERVICING, LLC | $165,000 | $430,000 | 160.6% | 0.3% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $485,000 | $425,000 | -12.4% | 0.3% |
The Dart Bank | $420,000 | n/a | 0.3% | |
SUCCESS MORTGAGE PARTNERS, INC. | $115,000 | $410,000 | 256.5% | 0.3% |
NEW DAY FINANCIAL, LLC | $310,000 | $390,000 | 25.8% | 0.3% |
CNB Bank And Trust, N.A. | $385,000 | n/a | 0.3% | |
AMERICAN ADVISORS GROUP | $15,000 | $355,000 | 2,266.7% | 0.2% |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $730,000 | $345,000 | -52.7% | 0.2% |
Watermark Capital, Inc. | $345,000 | n/a | 0.2% | |
ROSS MORTGAGE CORPORATION | $340,000 | n/a | 0.2% | |
Ally Bank | $435,000 | $335,000 | -23.0% | 0.2% |
CIBM Bank | $325,000 | n/a | 0.2% | |
The State Bank | $325,000 | n/a | 0.2% | |
ARC HOME LLC | $315,000 | n/a | 0.2% | |
CHURCHILL MORTGAGE CORPORATION | $165,000 | $315,000 | 90.9% | 0.2% |
Three Rivers Federal Credit Union | $315,000 | n/a | 0.2% | |
Northpointe Bank | $1,715,000 | $310,000 | -81.9% | 0.2% |
HOME POINT FINANCIAL CORPORATION | $430,000 | $305,000 | -29.1% | 0.2% |
The National Bank of Indianapolis | $305,000 | n/a | 0.2% | |
DRAPER AND KRAMER MORTGAGE CORP. | $230,000 | $295,000 | 28.3% | 0.2% |
NEWREZ LLC | $250,000 | $295,000 | 18.0% | 0.2% |
LENDERFI, INC. | $285,000 | n/a | 0.2% | |
UNIVERSITY LENDING GROUP, LLC | $285,000 | n/a | 0.2% | |
Bank of England | $280,000 | n/a | 0.2% | |
PLANET HOME LENDING, LLC | $155,000 | $280,000 | 80.6% | 0.2% |
CLEARPATH LENDING | $145,000 | $275,000 | 89.7% | 0.2% |
Level One Bank | $225,000 | $275,000 | 22.2% | 0.2% |
Nicolet National Bank | $265,000 | n/a | 0.2% | |
United Bank of Michigan | $185,000 | $265,000 | 43.2% | 0.2% |
Dort Financial Credit Union | $85,000 | $260,000 | 205.9% | 0.2% |
UNION HOME MORTGAGE CORP. | $555,000 | $260,000 | -53.2% | 0.2% |
Associated Bank | $505,000 | $255,000 | -49.5% | 0.2% |
CELEBRITY HOME LOANS, LLC | $255,000 | n/a | 0.2% | |
West Michigan Community Bank | $250,000 | n/a | 0.2% | |
Barrington Bank & Trust Company, N.A. | $170,000 | $240,000 | 41.2% | 0.2% |
USAA Federal Savings Bank | $495,000 | $240,000 | -51.5% | 0.2% |
TEACHERS CREDIT UNION | $195,000 | $235,000 | 20.5% | 0.2% |
COMMUNITY FINANCIAL CREDIT UNION | $240,000 | $220,000 | -8.3% | 0.1% |
Chicago Mortgage Solutions LLC | $215,000 | n/a | 0.1% | |
Citadel Servicing Corporation | $215,000 | n/a | 0.1% | |
First State Bank | $215,000 | n/a | 0.1% | |
Grand River Bank | $385,000 | $215,000 | -44.2% | 0.1% |
ACCELERATE MORTGAGE, LLC | $175,000 | $205,000 | 17.1% | 0.1% |
AMERICAN FINANCING CORPORATION | $145,000 | $205,000 | 41.4% | 0.1% |
CROSSCOUNTRY MORTGAGE, LLC | $415,000 | $205,000 | -50.6% | 0.1% |
First Federal Bank | $205,000 | n/a | 0.1% | |
Ixonia Bank | $205,000 | n/a | 0.1% | |
AMERICAN FINANCIAL RESOURCES, INC. | $185,000 | n/a | 0.1% | |
KeyBank | $185,000 | n/a | 0.1% | |
LEADERONE FINANCIAL CORPORATION | $350,000 | $185,000 | -47.1% | 0.1% |
Triumph Bank | $185,000 | n/a | 0.1% | |
Lakeview Community Capital, LLC | $175,000 | n/a | 0.1% | |
AMERICAN PACIFIC MORTGAGE CORPORATION | $165,000 | $165,000 | 0.0% | 0.1% |
SOFI LENDING CORP. | $165,000 | n/a | 0.1% | |
Gateway First Bank | $155,000 | n/a | 0.1% | |
GENEVA FINANCIAL, LLC | $155,000 | n/a | 0.1% | |
MICHIGAN MUTUAL, INC. | $450,000 | $155,000 | -65.6% | 0.1% |
First Guaranty Mortgage Corporation | $145,000 | n/a | 0.1% | |
GERBER FEDERAL CREDIT UNION | $660,000 | $145,000 | -78.0% | 0.1% |
GUILD MORTGAGE COMPANY | $225,000 | $145,000 | -35.6% | 0.1% |
Kellogg Community Credit Union | $145,000 | n/a | 0.1% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $415,000 | $145,000 | -65.1% | 0.1% |
SUMMIT FUNDING, INC. | $95,000 | $135,000 | 42.1% | 0.1% |
TOP FLITE FINANCIAL, INC. | $885,000 | $135,000 | -84.7% | 0.1% |
ACADEMY MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
BAYSHORE MORTGAGE FUNDING, LLC | $235,000 | $125,000 | -46.8% | 0.1% |
DFCU FINANCIAL | $125,000 | n/a | 0.1% | |
GENISYS | $125,000 | n/a | 0.1% | |
GUARANTEED RATE AFFINITY, LLC | $125,000 | n/a | 0.1% | |
Visio Financial Services Inc. | $125,000 | n/a | 0.1% | |
WesBanco Bank, Inc. | $125,000 | n/a | 0.1% | |
ARBOR FINANCIAL CREDIT UNION | $135,000 | $105,000 | -22.2% | 0.1% |
Carrington Mortgage Services, LLC | $105,000 | n/a | 0.1% | |
First Savings Bank | $105,000 | n/a | 0.1% | |
Isabella Bank | $665,000 | $105,000 | -84.2% | 0.1% |
Manufacturers and Traders Trust Company | $105,000 | n/a | 0.1% | |
RELIANCE FIRST CAPITAL, LLC | $105,000 | n/a | 0.1% | |
VIBE CREDIT UNION | $105,000 | n/a | 0.1% | |
U.S. Bank | $85,000 | n/a | 0.1% | |
County National Bank | $75,000 | n/a | 0.0% | |
Platinum Home Mortgage Corporation | $85,000 | $75,000 | -11.8% | 0.0% |
ROYAL UNITED MORTGAGE LLC | $200,000 | $75,000 | -62.5% | 0.0% |
The Genoa Banking Company | $75,000 | n/a | 0.0% | |
RESIDENTIAL BANCORP. | $65,000 | n/a | 0.0% | |
COMMUNITY CHOICE CREDIT UNION | $55,000 | n/a | 0.0% | |
Key Mortgage Services, Inc. | $55,000 | n/a | 0.0% | |
Bethpage Federal Credit Union | $45,000 | n/a | 0.0% | |
Figure Lending LLC | $45,000 | n/a | 0.0% | |
UNITED | $35,000 | n/a | 0.0% | |
West Michigan Credit Union | $200,000 | $35,000 | -82.5% | 0.0% |
Honor Credit Union | $845,000 | $15,000 | -98.2% | 0.0% |
Ludington's top lender by overall market share is QUICKEN LOANS, LLC, with 14.9% market share. In second place, with 8.2%, is MORTGAGE 1 INCORPORATED, having originated $12,390,000 in loans. In third place, with 7.2%, is LAKE MICHIGAN CREDIT UNION, having originated $10,825,000 in loans. In fourth place, with 6.0%, is The Huntington National Bank, having originated $9,080,000 in loans. In fifth place, with 5.8%, is Fifth Third Bank, having originated $8,790,000 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%) | $280,756 (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 |
Ludington's median listing price comes in at 0% of the national average.
Ludington's average listing price for 2023-02-01 was $375,917, a difference of $-100,023 (-21.0%) versus the prior year and $-2 versus the prior month.
For the 2023-02-01 period, Ludington had 36 MLS listings, a difference of -11 listings (-23%) versus the prior month and 0 listings (0%) 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 |
Ludington's median square footage for active listings during the 2023-02-01 period was 1,567 sqft. One year prior, the average listing was 1,902 sqft.
Ludington, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Refi | 312 | $52,830,000 | $169,327 |
Home Purchase | 298 | $62,680,000 | $210,336 |
Cash Out Refi | 170 | $28,430,000 | $167,235 |
Home Improvement | 36 | $3,010,000 | $83,611 |
Other | 30 | $4,290,000 | $143,000 |
Ludington's most frequently cited loan purpose was Refi, with 312 originations. The 2nd most popular reason was Home Purchase, with 298 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 318 | $60,770,000 | $191,101 |
3-4% | 270 | $49,380,000 | $182,889 |
<2.5% | 155 | $31,365,000 | $202,355 |
4-5% | 29 | $3,145,000 | $108,448 |
Over 8% | 20 | $990,000 | $49,500 |
5-6% | 13 | $695,000 | $53,462 |
7-8% | 10 | $430,000 | $43,000 |
6-7% | 4 | $510,000 | $127,500 |
During 2021, Ludington's most frequently originated rate bucket was 2.5-3%, with 318 originations.
Loan Sizing (Ludington, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 372 | $53,610,000 | $144,113 |
$100,000 or less | 217 | $13,865,000 | $63,894 |
$200k-400k | 211 | $55,795,000 | $264,431 |
$400k-600k | 33 | $15,565,000 | $471,667 |
$600k-1000k | 9 | $6,945,000 | $771,667 |
$Over $1MM | 4 | $5,460,000 | $1,365,000 |
Ludington's loan sizing saw the bucket of loans from $100k-200k with 372 originations, totaling $53,610,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
60-80% | 271 | $56,685,000 | $209,170 |
80-100% | 237 | $48,195,000 | $203,354 |
40-60% | 156 | $23,900,000 | $153,205 |
20-40% | 78 | $9,940,000 | $127,436 |
Under 20% | 27 | $1,145,000 | $42,407 |
Over 100% | 6 | $1,760,000 | $293,333 |
Ludington's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 271 originations, totaling $56,685,000 in origination value.