Macomb 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 Macomb averaged 6.92% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.9% and one month ago for the week of 2024-03-14, the average rate was 6.46%.

    Macomb's average rate one year ago was 6.09%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.7%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Macomb 30 Year Fixed Rate 2024-04-18 6.92%
    Macomb 30 Year Fixed Rate Refi 2024-04-18 7.7%
    Macomb 15 Year Fixed Rate 2024-04-18 6.19%
    Macomb 15 Year Fixed Rate Refi 2024-04-18 6.59%
    Macomb 30 Year FHA 2024-04-18 7.06%
    Macomb 30 Year FHA Refi 2024-04-18 6.96%
    Macomb 30 Year USDA 2024-04-18 6.76%
    Macomb 30 Year USDA Refi 2024-04-18 6.76%
    Macomb 30 Year VA 2024-04-18 6.76%
    Macomb 30 Year VA Refi 2024-04-18 6.76%
    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
    Macomb's median listing price for 2024-03-01 was $98,000, a difference of $28,100 (40.2%) versus the prior year and $13,600 versus the prior month.

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

    Macomb's average listing price for 2024-03-01 was $115,393, a difference of $13,890 (13.7%) versus the prior year and $3,541 versus the prior month.

    For the 2024-03-01 period, Macomb had 68 MLS listings, a difference of 8 listings (13%) versus the prior month and -4 listings (-6%) 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
    Macomb's median listing age (time on market) for 2024-03-01 was 0 days.

    Macomb's median square footage for active listings during the 2024-03-01 period was 1,507 sqft. One year prior, the average listing was 1,389 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.