Macomb Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Macomb averaged 6.66% for the week of 2024-05-23, compared to the national average of 6.94% for the same period.

The average rate for the prior week (2024-05-16) was 6.94% and one month ago for the week of 2024-04-18, the average rate was 7.02%.

Macomb's average rate one year ago was 6.11%.

For refis of the same type during the week of 2024-05-23, the average rate was 6.94%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-23 6.94%
Macomb 30 Year Fixed Rate 2024-05-23 6.66%
Macomb 30 Year Fixed Rate Refi 2024-05-23 6.94%
Macomb 15 Year Fixed Rate 2024-05-23 6.34%
Macomb 15 Year Fixed Rate Refi 2024-05-23 6.54%
Macomb 30 Year FHA 2024-05-23 6.95%
Macomb 30 Year FHA Refi 2024-05-23 6.55%
Macomb 30 Year USDA 2024-05-23 6.74%
Macomb 30 Year USDA Refi 2024-05-23 6.94%
Macomb 30 Year VA 2024-05-23 6.47%
Macomb 30 Year VA Refi 2024-05-23 6.47%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Macomb, IL.

Macomb 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 Macomb, IL 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
Morton Community Bank 29 6.42% $2,355
United Community Bank 15 6.58% $2,159
Fortress Bank 10 6.76% $2,071
QUICKEN LOANS, LLC 9 7.12% $4,399
First Bankers Trust Company 7 6.88% $1,621
FLAT BRANCH MORTGAGE, INC. 5 6.75% $3,025
JPMorgan Chase Bank 3 6.79% $2,741
ZILLOW HOME LOANS, LLC 2 7.13% $5,289
BROKER SOLUTIONS, INC. 2 7.13% $5,389
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.38% $2,675
Flanagan State Bank 2 7.06% $2,376
I. H. MISSISSIPPI VALLEY CREDIT UNION 2 6.50% $2,471
Bank of America 1 7.00% $5,089
DAS Acquisition Company, LLC 1 6.62% $3,131
CITIZENS EQUITY FIRST 1 6.75% $2,372
Heartland Bank and Trust Company 1 7.88% $2,288
HomeBank 1 6.25% $2,513
Arvest Bank 1 6.88% $3,886
INB 1 7.13% $2,468
CIBM Bank 1 6.38% $2,595
Marine Bank 1 5.50% $2,107
CBI Bank & Trust 1 7.63% $2,079
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $4,522
PENNYMAC LOAN SERVICES, LLC 1 6.75% $3,116
Bank of Springfield 1 6.60% $2,981
ROYAL UNITED MORTGAGE LLC 1 7.00% $4,914
The Huntington National Bank 1 8.13% $3,063
First American Bank 1 7.38% $3,141
First National Bank of Omaha 1 6.63% $2,788

Macomb Average Closing Costs & Other Stats

Macomb, IL's 29 lenders originated 293 loans during 2023. The total origination value was $30,325,000, with an average loan value of $103,498.

Macomb's average closing costs are $3,087.

The top Macomb lender as defined by loan originations is Morton Community Bank, with 29 loans originated. Their average total fees are $2,355, which is $196 higher than the next largest lender, United Community Bank.

The lowest fee Macomb lenders (with over 10 loans originated) are Fortress Bank ($2,071), United Community Bank ($2,159), Morton Community Bank ($2,355), .

The lowest rate Macomb lenders (with over 10 loans originated) are Morton Community Bank (6.42%), United Community Bank (6.58%), Fortress Bank (6.76%), .

Macomb, IL 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
Morton Community Bank $6,925,000 $5,780,000 -16.5% 19.1%
United Community Bank $4,480,000 $3,005,000 -32.9% 9.9%
MidAmerica National Bank $3,600,000 $2,650,000 -26.4% 8.7%
First Bankers Trust Company $1,775,000 $1,625,000 -8.5% 5.4%
Fortress Bank $1,835,000 $1,575,000 -14.2% 5.2%
Mortgage Research Center, LLC $2,420,000 $1,480,000 -38.8% 4.9%
QUICKEN LOANS, LLC $2,175,000 $1,430,000 -34.3% 4.7%
Flanagan State Bank $2,250,000 $1,420,000 -36.9% 4.7%
FLAT BRANCH MORTGAGE, INC. $430,000 $1,245,000 189.5% 4.1%
Bank of Springfield $490,000 $900,000 83.7% 3.0%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $75,000 $515,000 586.7% 1.7%
I. H. MISSISSIPPI VALLEY CREDIT UNION $245,000 $480,000 95.9% 1.6%
First American Bank $455,000 n/a 1.5%
PENNYMAC LOAN SERVICES, LLC $285,000 $455,000 59.6% 1.5%
BROKER SOLUTIONS, INC. $610,000 $420,000 -31.1% 1.4%
NAVY FEDERAL CREDIT UNION $320,000 $395,000 23.4% 1.3%
JPMorgan Chase Bank $220,000 $385,000 75.0% 1.3%
ZILLOW HOME LOANS, LLC $355,000 n/a 1.2%
Mr. Cooper ( Nationstar Mortgage ) $55,000 $280,000 409.1% 0.9%
CITIZENS EQUITY FIRST $550,000 $275,000 -50.0% 0.9%
Midwest Bank $495,000 $260,000 -47.5% 0.9%
AMERISAVE MORTGAGE CORPORATION $65,000 $220,000 238.5% 0.7%
CBI Bank & Trust $190,000 $220,000 15.8% 0.7%
ROYAL UNITED MORTGAGE LLC $75,000 $210,000 180.0% 0.7%
Bank of America $195,000 n/a 0.6%
HomeBank $185,000 n/a 0.6%
PURDUE FEDERAL CREDIT UNION $175,000 n/a 0.6%
RUHL MORTGAGE, LLC $175,000 n/a 0.6%
ENDEAVOR CAPITAL, LLC. $155,000 n/a 0.5%
First National Bank of Omaha $155,000 n/a 0.5%
Heartland Bank and Trust Company $155,000 n/a 0.5%
DAS Acquisition Company, LLC $145,000 n/a 0.5%
INB $55,000 $145,000 163.6% 0.5%
Arvest Bank $125,000 n/a 0.4%
Pinnacle Bank $125,000 n/a 0.4%
Carrington Mortgage Services, LLC $200,000 $115,000 -42.5% 0.4%
Credit Union 1 $115,000 n/a 0.4%
Truist $115,000 n/a 0.4%
COMPEER FINANCIAL, FLCA $1,265,000 $105,000 -91.7% 0.3%
GUARANTEED RATE AFFINITY, LLC $165,000 $105,000 -36.4% 0.3%
LOANDEPOT.COM, LLC $105,000 $105,000 0.0% 0.3%
UNITED WHOLESALE MORTGAGE, LLC $65,000 $105,000 61.5% 0.3%
First Mid Bank & Trust $130,000 $95,000 -26.9% 0.3%
FIRST STATE MORTGAGE SERVICES, LLC $95,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $140,000 $95,000 -32.1% 0.3%
The Huntington National Bank $95,000 n/a 0.3%
CALIBER HOME LOANS, INC. $225,000 $90,000 -60.0% 0.3%
Discover Bank $35,000 $90,000 157.1% 0.3%
Alliance Community Bank $85,000 n/a 0.3%
State Bank of Graymont $85,000 n/a 0.3%
CNB Bank And Trust, N.A. $65,000 n/a 0.2%
FIRST CENTENNIAL MORTGAGE CORPORATION $65,000 n/a 0.2%
LEADERONE FINANCIAL CORPORATION $55,000 $65,000 18.2% 0.2%
West Central Bank $545,000 $65,000 -88.1% 0.2%
Marine Bank $1,175,000 $60,000 -94.9% 0.2%
Community Mortgage Banc Corporation $120,000 $55,000 -54.2% 0.2%
Firefighters First Federal Credit Union $55,000 $55,000 0.0% 0.2%
Ipava State Bank $700,000 $55,000 -92.1% 0.2%
TBK BANK, SSB $55,000 n/a 0.2%
The Fisher National Bank $65,000 $55,000 -15.4% 0.2%
U.S. Bank $215,000 $55,000 -74.4% 0.2%
CIBM Bank $45,000 n/a 0.1%
UNION HOME MORTGAGE CORP. $45,000 n/a 0.1%
FIRST COMMUNITY $35,000 n/a 0.1%

Macomb's top lender by overall market share is Morton Community Bank, with 19.1% market share. In second place, with 9.9%, is United Community Bank, having originated $3,005,000 in loans. In third place, with 8.7%, is MidAmerica National Bank, having originated $2,650,000 in loans. In fourth place, with 5.4%, is First Bankers Trust Company, having originated $1,625,000 in loans. In fifth place, with 5.2%, is Fortress Bank, having originated $1,575,000 in loans.


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

Realtor.com - Macomb (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 $99,400 (10.6%) $124,219 (10.6%) 0.00 187
2018-02-01 $95,050 (5.7%) $121,144 (7.2%) 0.00 192
2018-03-01 $96,000 (6.0%) $121,702 (3.9%) 0.00 194
2018-04-01 $98,350 (8.1%) $122,034 (4.6%) 0.00 205
2018-05-01 $97,300 (4.9%) $119,007 (0.0%) 0.00 218
2018-06-01 $94,900 (-2.5%) $115,526 (-4.2%) 0.00 222
2018-07-01 $93,700 (-1.6%) $114,800 (-3.5%) 0.00 245
2018-08-01 $92,250 (-4.2%) $114,551 (-6.3%) 0.00 246
2018-09-01 $89,900 (-9.8%) $111,963 (-9.7%) 0.00 236
2018-10-01 $89,900 (-10.1%) $112,011 (-10.7%) 0.00 229
2018-11-01 $89,400 (-15.4%) $109,292 (-12.9%) 0.00 230
2018-12-01 $85,500 (-14.4%) $104,984 (-15.2%) 0.00 228
2019-01-01 $84,900 (-14.6%) $104,227 (-16.1%) 0.00 228
2019-02-01 $84,900 (-10.7%) $104,728 (-13.6%) 0.00 222
2019-03-01 $88,714 (-7.6%) $109,121 (-10.3%) 0.00 220
2019-04-01 $97,350 (-1.0%) $117,630 (-3.6%) 0.00 221
2019-05-01 $93,700 (-3.7%) $117,380 (-1.4%) 0.00 227
2019-06-01 $90,000 (-5.2%) $117,684 (1.9%) 0.00 216
2019-07-01 $89,900 (-4.1%) $117,945 (2.7%) 0.00 215
2019-08-01 $88,550 (-4.0%) $116,365 (1.6%) 0.00 209
2019-09-01 $86,525 (-3.8%) $113,299 (1.2%) 0.00 205
2019-10-01 $85,175 (-5.3%) $110,846 (-1.0%) 0.00 201
2019-11-01 $82,900 (-7.3%) $105,541 (-3.4%) 0.00 202
2019-12-01 $79,900 (-6.6%) $102,812 (-2.1%) 0.00 189
2020-01-01 $79,900 (-5.9%) $102,540 (-1.6%) 0.00 174
2020-02-01 $83,950 (-1.1%) $106,436 (1.6%) 0.00 168
2020-03-01 $84,900 (-4.3%) $107,538 (-1.5%) 0.00 173
2020-04-01 $86,100 (-11.6%) $109,517 (-6.9%) 0.00 172
2020-05-01 $87,200 (-6.9%) $109,732 (-6.5%) 0.00 166
2020-06-01 $87,200 (-3.1%) $107,522 (-8.6%) 0.00 162
2020-07-01 $87,200 (-3.0%) $106,444 (-9.8%) 0.00 162
2020-08-01 $85,000 (-4.0%) $105,446 (-9.4%) 0.00 164
2020-09-01 $85,400 (-1.3%) $109,131 (-3.7%) 0.00 172
2020-10-01 $72,900 (-14.4%) $95,807 (-13.6%) 0.00 205
2020-11-01 $69,900 (-15.7%) $91,947 (-12.9%) 0.00 212
2020-12-01 $67,925 (-15.0%) $86,458 (-15.9%) 0.00 207
2021-01-01 $65,000 (-18.7%) $85,837 (-16.3%) 0.00 202
2021-02-01 $65,000 (-22.6%) $82,529 (-22.5%) 0.00 196
2021-03-01 $67,125 (-20.9%) $83,438 (-22.4%) 0.00 192
2021-04-01 $66,000 (-23.3%) $82,795 (-24.4%) 0.00 174
2021-05-01 $62,900 (-27.9%) $79,210 (-27.8%) 0.00 164
2021-06-01 $59,900 (-31.3%) $80,477 (-25.2%) 0.00 158
2021-07-01 $60,000 (-31.2%) $90,012 (-15.4%) 0.00 171
2021-08-01 $59,950 (-29.5%) $91,030 (-13.7%) 0.00 170
2021-09-01 $59,900 (-29.9%) $91,484 (-16.2%) 0.00 156
2021-10-01 $61,600 (-15.5%) $92,696 (-3.3%) 0.00 159
2021-11-01 $63,136 (-9.7%) $94,165 (2.4%) 0.00 145
2021-12-01 $61,257 (-9.8%) $94,136 (8.9%) 0.00 129
2022-01-01 $59,900 (-7.9%) $96,289 (12.2%) 0.00 113
2022-02-01 $59,450 (-8.5%) $95,989 (16.3%) 0.00 100
2022-03-01 $56,375 (-16.0%) $94,343 (13.1%) 0.00 93
2022-04-01 $56,000 (-15.2%) $91,928 (11.0%) 0.00 91
2022-05-01 $58,850 (-6.4%) $92,890 (17.3%) 0.00 96
2022-06-01 $59,900 (0.0%) $98,784 (22.8%) 0.00 92
2022-07-01 $65,000 (8.3%) $101,198 (12.4%) 0.00 97
2022-08-01 $69,450 (15.9%) $98,948 (8.7%) 0.00 109
2022-09-01 $69,225 (15.6%) $97,972 (7.1%) 0.00 104
2022-10-01 $72,400 (17.5%) $100,479 (8.4%) 0.00 97
2022-11-01 $74,400 (17.8%) $112,917 (19.9%) 0.00 96
2022-12-01 $72,900 (19.0%) $111,198 (18.1%) 0.00 95
2023-01-01 $71,150 (18.8%) $101,905 (5.8%) 0.00 81
2023-02-01 $70,650 (18.8%) $94,307 (-1.8%) 0.00 76
2023-03-01 $69,900 (24.0%) $101,503 (7.6%) 0.00 72
2023-04-01 $69,900 (24.8%) $107,546 (17.0%) 0.00 64
2023-05-01 $75,000 (27.4%) $125,344 (34.9%) 0.00 59
2023-06-01 $80,675 (34.7%) $137,267 (39.0%) 0.00 64
2023-07-01 $75,750 (16.5%) $120,419 (19.0%) 0.00 75
2023-08-01 $72,450 (4.3%) $104,481 (5.6%) 0.00 59
2023-09-01 $80,900 (16.9%) $114,715 (17.1%) 0.00 67
2023-10-01 $74,975 (3.6%) $111,695 (11.2%) 0.00 76
2023-11-01 $74,900 (0.7%) $110,515 (-2.1%) 0.00 77
2023-12-01 $79,900 (9.6%) $113,530 (2.1%) 0.00 67
2024-01-01 $86,250 (21.2%) $116,596 (14.4%) 0.00 67
2024-02-01 $84,400 (19.5%) $111,852 (18.6%) 0.00 60
2024-03-01 $98,000 (40.2%) $115,393 (13.7%) 0.00 68
2024-04-01 $94,900 (35.8%) $119,914 (11.5%) 0.00 71
Macomb's median listing price for 2024-04-01 was $94,900, a difference of $25,000 (35.8%) versus the prior year and $-3,100 versus the prior month.

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

Macomb's average listing price for 2024-04-01 was $119,914, a difference of $12,368 (11.5%) versus the prior year and $4,521 versus the prior month.

For the 2024-04-01 period, Macomb had 71 MLS listings, a difference of 3 listings (4%) versus the prior month and 7 listings (11%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Macomb (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,720 sqft
2018-02-01 0 days 1,668 sqft
2018-03-01 0 days 1,688 sqft
2018-04-01 0 days 1,709 sqft
2018-05-01 0 days 1,663 sqft
2018-06-01 0 days 1,616 sqft
2018-07-01 0 days 1,668 sqft
2018-08-01 0 days 1,632 sqft
2018-09-01 0 days 1,606 sqft
2018-10-01 0 days 1,620 sqft
2018-11-01 0 days 1,576 sqft
2018-12-01 0 days 1,569 sqft
2019-01-01 0 days 1,594 sqft
2019-02-01 0 days 1,620 sqft
2019-03-01 0 days 1,703 sqft
2019-04-01 0 days 1,800 sqft
2019-05-01 0 days 1,825 sqft
2019-06-01 0 days 1,802 sqft
2019-07-01 0 days 1,800 sqft
2019-08-01 0 days 1,741 sqft
2019-09-01 0 days 1,653 sqft
2019-10-01 0 days 1,576 sqft
2019-11-01 0 days 1,560 sqft
2019-12-01 0 days 1,535 sqft
2020-01-01 0 days 1,537 sqft
2020-02-01 0 days 1,604 sqft
2020-03-01 0 days 1,597 sqft
2020-04-01 0 days 1,623 sqft
2020-05-01 0 days 1,632 sqft
2020-06-01 0 days 1,612 sqft
2020-07-01 0 days 1,582 sqft
2020-08-01 0 days 1,560 sqft
2020-09-01 0 days 1,539 sqft
2020-10-01 0 days 1,472 sqft
2020-11-01 0 days 1,489 sqft
2020-12-01 0 days 1,456 sqft
2021-01-01 0 days 1,468 sqft
2021-02-01 0 days 1,462 sqft
2021-03-01 0 days 1,432 sqft
2021-04-01 0 days 1,424 sqft
2021-05-01 0 days 1,354 sqft
2021-06-01 0 days 1,341 sqft
2021-07-01 0 days 1,338 sqft
2021-08-01 0 days 1,351 sqft
2021-09-01 0 days 1,411 sqft
2021-10-01 0 days 1,427 sqft
2021-11-01 0 days 1,360 sqft
2021-12-01 0 days 1,341 sqft
2022-01-01 0 days 1,346 sqft
2022-02-01 0 days 1,344 sqft
2022-03-01 0 days 1,343 sqft
2022-04-01 0 days 1,302 sqft
2022-05-01 0 days 1,345 sqft
2022-06-01 0 days 1,375 sqft
2022-07-01 0 days 1,483 sqft
2022-08-01 0 days 1,583 sqft
2022-09-01 0 days 1,553 sqft
2022-10-01 0 days 1,531 sqft
2022-11-01 0 days 1,564 sqft
2022-12-01 0 days 1,509 sqft
2023-01-01 0 days 1,432 sqft
2023-02-01 0 days 1,477 sqft
2023-03-01 0 days 1,389 sqft
2023-04-01 0 days 1,368 sqft
2023-05-01 0 days 1,368 sqft
2023-06-01 0 days 1,467 sqft
2023-07-01 0 days 1,424 sqft
2023-08-01 0 days 1,378 sqft
2023-09-01 0 days 1,521 sqft
2023-10-01 0 days 1,480 sqft
2023-11-01 0 days 1,515 sqft
2023-12-01 0 days 1,486 sqft
2024-01-01 0 days 1,480 sqft
2024-02-01 0 days 1,403 sqft
2024-03-01 0 days 1,507 sqft
2024-04-01 0 days 1,543 sqft
Macomb's median listing age (time on market) for 2024-04-01 was 0 days.

Macomb's median square footage for active listings during the 2024-04-01 period was 1,543 sqft. One year prior, the average listing was 1,368 sqft.

Macomb, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 228 $26,010,000 $114,079
Cash Out Refi 22 $1,600,000 $72,727
Refi 20 $1,460,000 $73,000
Home Improvement 14 $650,000 $46,429
Other 9 $605,000 $67,222

Macomb's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 107 $11,915,000 $111,355
7-8% 82 $8,680,000 $105,854
5-6% 34 $3,710,000 $109,118
Over 8% 26 $1,950,000 $75,000
4-5% 3 $235,000 $78,333
<2.5% 1 $235,000 $235,000

During 2023, Macomb's most frequently originated rate bucket was 6-7%, with 107 originations.

Loan Sizing (Macomb, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 168 $9,500,000 $56,548
$100k-200k 96 $12,930,000 $134,688
$200k-400k 26 $6,440,000 $247,692
$400k-600k 3 $1,455,000 $485,000

Macomb's loan sizing saw the bucket of loans from $100,000 or less with 168 originations, totaling $9,500,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 143 $16,715,000 $116,888
60-80% 63 $6,475,000 $102,778
40-60% 17 $1,565,000 $92,059
20-40% 16 $1,220,000 $76,250
Under 20% 11 $265,000 $24,091
Over 100% 4 $490,000 $122,500

Macomb's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 143 originations, totaling $16,715,000 in origination value.