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 6.84% 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 6.77% and one month ago for the week of 2023-02-09, the average rate was 6.26%.

    Macomb's average rate one year ago was 3.69%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.48%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Macomb 30 Year Fixed Rate 2023-03-16 6.84%
    Macomb 30 Year Fixed Rate Refi 2023-03-16 6.48%
    Macomb 15 Year Fixed Rate 2023-03-16 6.17%
    Macomb 15 Year Fixed Rate Refi 2023-03-16 6.16%
    Macomb 30 Year FHA 2023-03-16 6.37%
    Macomb 30 Year FHA Refi 2023-03-16 6.44%
    Macomb 30 Year USDA 2023-03-16 6.57%
    Macomb 30 Year USDA Refi 2023-03-16 4.71%
    Macomb 30 Year VA 2023-03-16 6.29%
    Macomb 30 Year VA Refi 2023-03-16 6.07%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Morton Community Bank 25 5.66% $2,142
    United Community Bank 21 5.70% $1,735
    QUICKEN LOANS, LLC 6 5.69% $4,664
    Fortress Bank 6 4.56% $2,244
    First Bankers Trust Company 5 5.30% $1,618
    CITIZENS EQUITY FIRST 4 4.56% $2,279
    GREENSTATE CREDIT UNION 3 6.17% $3,039
    Wells Fargo Bank 3 4.75% $4,675
    COMPEER FINANCIAL, FLCA 2 4.25% $3,765
    FLAT BRANCH MORTGAGE, INC. 1 3.99% $2,449
    FREEDOM MORTGAGE CORPORATION 1 4.50% $4,419
    GUARANTEED RATE AFFINITY, LLC 1 3.38% $1,750
    INB 1 5.63% $2,002
    JPMorgan Chase Bank 1 5.13% $500
    Marine Bank 1 4.00% $3,115
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $3,259
    North American Savings Bank, F.S.B. 1 5.25% $8,167
    PENNYMAC LOAN SERVICES, LLC 1 4.25% $1,212
    PHH Mortgage Corporation 1 5.38% $7,625
    PNC Bank 1 5.00% $2,075
    Prairie State Bank and Trust 1 5.13% $1,388
    SENB Bank 1 5.25% $2,555
    Town & Country Banc Mortgage Services, Inc. 1 6.18% $1,983
    UNITED WHOLESALE MORTGAGE, LLC 1 4.45% $2,657
    USAA Federal Savings Bank 1 4.75% $3,425
    1ST MIDAMERICA 1 4.63% $2,360
    WINGS FINANCIAL 1 4.88% $2,502
    Ally Bank 1 5.25% $2,032
    ASSEMBLIES OF GOD Credit Union 1 4.25% $1,212
    Bank of Springfield 1 4.98% $2,539
    BROKER SOLUTIONS, INC. 1 5.85% $5,324
    CBI Bank & Trust 1 3.50% $2,022
    CROSSCOUNTRY MORTGAGE, LLC 1 3.75% $3,435
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $2,801
    First Mid Bank & Trust 1 4.13% $2,126

    Macomb Average Closing Costs & Other Stats

    Macomb, IL's 35 lenders originated 374 loans during 2022. The total origination value was $40,450,000, with an average loan value of $108,155.

    Macomb's average closing costs are $3,006.

    The top Macomb lender as defined by loan originations is Morton Community Bank, with 25 loans originated. Their average total fees are $2,142, which is $407 higher than the next largest lender, United Community Bank.

    The lowest fee Macomb lenders (with over 10 loans originated) are United Community Bank ($1,735), Morton Community Bank ($2,142), .

    The lowest rate Macomb lenders (with over 10 loans originated) are Morton Community Bank (5.66%), United Community Bank (5.70%), .

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Morton Community Bank $6,230,000 $6,925,000 11.2% 17.1%
    United Community Bank $6,125,000 $4,480,000 -26.9% 11.1%
    MidAmerica National Bank $3,600,000 n/a 8.9%
    Mortgage Research Center, LLC $920,000 $2,420,000 163.0% 6.0%
    Flanagan State Bank $2,310,000 $2,250,000 -2.6% 5.6%
    QUICKEN LOANS, LLC $4,585,000 $2,175,000 -52.6% 5.4%
    Fortress Bank $3,565,000 $1,835,000 -48.5% 4.5%
    First Bankers Trust Company $5,735,000 $1,775,000 -69.0% 4.4%
    COMPEER FINANCIAL, FLCA $1,005,000 $1,265,000 25.9% 3.1%
    Marine Bank $1,860,000 $1,175,000 -36.8% 2.9%
    Ipava State Bank $580,000 $700,000 20.7% 1.7%
    BROKER SOLUTIONS, INC. $345,000 $610,000 76.8% 1.5%
    Ally Bank $570,000 n/a 1.4%
    CITIZENS EQUITY FIRST $600,000 $550,000 -8.3% 1.4%
    Wells Fargo Bank $1,190,000 $550,000 -53.8% 1.4%
    West Central Bank $125,000 $545,000 336.0% 1.3%
    Midwest Bank $495,000 n/a 1.2%
    Bank of Springfield $205,000 $490,000 139.0% 1.2%
    USAA Federal Savings Bank $75,000 $455,000 506.7% 1.1%
    FLAT BRANCH MORTGAGE, INC. $610,000 $430,000 -29.5% 1.1%
    NAVY FEDERAL CREDIT UNION $490,000 $320,000 -34.7% 0.8%
    PENNYMAC LOAN SERVICES, LLC $295,000 $285,000 -3.4% 0.7%
    North American Savings Bank, F.S.B. $275,000 n/a 0.7%
    GREENSTATE CREDIT UNION $360,000 $265,000 -26.4% 0.7%
    I. H. MISSISSIPPI VALLEY CREDIT UNION $405,000 $245,000 -39.5% 0.6%
    NBKC BANK $235,000 n/a 0.6%
    CALIBER HOME LOANS, INC. $1,150,000 $225,000 -80.4% 0.6%
    JPMorgan Chase Bank $210,000 $220,000 4.8% 0.5%
    U.S. Bank $345,000 $215,000 -37.7% 0.5%
    Carrington Mortgage Services, LLC $180,000 $200,000 11.1% 0.5%
    CBI Bank & Trust $640,000 $190,000 -70.3% 0.5%
    WINGS FINANCIAL $185,000 n/a 0.5%
    ASSEMBLIES OF GOD Credit Union $175,000 n/a 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $165,000 n/a 0.4%
    GUARANTEED RATE AFFINITY, LLC $165,000 n/a 0.4%
    GUARANTEED RATE, INC. $250,000 $155,000 -38.0% 0.4%
    PHH Mortgage Corporation $155,000 n/a 0.4%
    ACADEMY MORTGAGE CORPORATION $145,000 n/a 0.4%
    Better Banks $195,000 $145,000 -25.6% 0.4%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $480,000 $145,000 -69.8% 0.4%
    MUTUAL OF OMAHA MORTGAGE, INC. $35,000 $140,000 300.0% 0.3%
    AMERICAN PACIFIC MORTGAGE CORPORATION $135,000 n/a 0.3%
    SUCCESS MORTGAGE PARTNERS, INC. $135,000 n/a 0.3%
    VILLAGE CAPITAL MORTGAGE $125,000 $135,000 8.0% 0.3%
    First Mid Bank & Trust $130,000 n/a 0.3%
    Town & Country Banc Mortgage Services, Inc. $260,000 $125,000 -51.9% 0.3%
    Community Mortgage Banc Corporation $340,000 $120,000 -64.7% 0.3%
    PNC Bank $115,000 $115,000 0.0% 0.3%
    FREEDOM MORTGAGE CORPORATION $1,130,000 $105,000 -90.7% 0.3%
    LOANDEPOT.COM, LLC $440,000 $105,000 -76.1% 0.3%
    Prairie State Bank and Trust $105,000 n/a 0.3%
    Barrington Bank & Trust Company, N.A. $105,000 $95,000 -9.5% 0.2%
    SENB Bank $85,000 $95,000 11.8% 0.2%
    21ST MORTGAGE CORPORATION $90,000 n/a 0.2%
    1ST MIDAMERICA $85,000 n/a 0.2%
    American Bank and Trust Company $85,000 n/a 0.2%
    Busey Bank $75,000 n/a 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $365,000 $75,000 -79.5% 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $75,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $105,000 $75,000 -28.6% 0.2%
    AMERICAN ADVISORS GROUP $65,000 n/a 0.2%
    AMERISAVE MORTGAGE CORPORATION $65,000 n/a 0.2%
    Regions Bank $65,000 n/a 0.2%
    The Fisher National Bank $65,000 n/a 0.2%
    Two Rivers Bank & Trust $35,000 $65,000 85.7% 0.2%
    UNITED WHOLESALE MORTGAGE, LLC $275,000 $65,000 -76.4% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $55,000 n/a 0.1%
    Chickasaw Community Bank $55,000 n/a 0.1%
    Firefighters First Federal Credit Union $55,000 n/a 0.1%
    INB $55,000 n/a 0.1%
    LEADERONE FINANCIAL CORPORATION $55,000 n/a 0.1%
    Mr. Cooper ( Nationstar Mortgage ) $400,000 $55,000 -86.3% 0.1%
    FCB Banks $45,000 n/a 0.1%
    First State Bank $45,000 n/a 0.1%
    Discover Bank $145,000 $35,000 -75.9% 0.1%
    SPRING EQ, LLC $25,000 n/a 0.1%
    STAR USA FEDERAL CREDIT UNION $25,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $25,000 n/a 0.1%
    Vibrant Credit Union $25,000 n/a 0.1%

    Macomb's top lender by overall market share is Morton Community Bank, with 17.1% market share. In second place, with 11.1%, is United Community Bank, having originated $4,480,000 in loans. In third place, with 8.9%, is MidAmerica National Bank, having originated $3,600,000 in loans. In fourth place, with 6.0%, is Mortgage Research Center, LLC, having originated $2,420,000 in loans. In fifth place, with 5.6%, is Flanagan State Bank, having originated $2,250,000 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%) $98,975 (23.0%) 0.00 92
    2022-07-01 $64,950 (8.3%) $101,198 (12.4%) 0.00 97
    2022-08-01 $67,000 (11.8%) $98,587 (8.3%) 0.00 109
    2022-09-01 $69,000 (15.2%) $97,972 (7.1%) 0.00 104
    2022-10-01 $72,400 (17.5%) $101,819 (9.8%) 0.00 97
    2022-11-01 $73,675 (16.7%) $112,669 (19.7%) 0.00 96
    2022-12-01 $72,000 (17.5%) $109,315 (16.1%) 0.00 95
    2023-01-01 $69,900 (16.7%) $102,508 (6.5%) 0.00 81
    2023-02-01 $69,900 (17.6%) $95,369 (-0.7%) 0.00 76
    Macomb's median listing price for 2023-02-01 was $69,900, a difference of $10,450 (17.6%) versus the prior year and $0 versus the prior month.

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

    Macomb's average listing price for 2023-02-01 was $95,369, a difference of $-620 (-0.7%) versus the prior year and $-7,139 versus the prior month.

    For the 2023-02-01 period, Macomb had 76 MLS listings, a difference of -5 listings (-6%) versus the prior month and -24 listings (-24%) 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 1,822 sqft
    2019-06-01 0 days 1,800 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 1,491 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 1,427 sqft
    2021-05-01 0 days 1,378 sqft
    2021-06-01 0 days 1,346 sqft
    2021-07-01 0 days 1,343 sqft
    2021-08-01 0 days 1,365 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 1,363 sqft
    2022-07-01 0 days 1,483 sqft
    2022-08-01 0 days 1,600 sqft
    2022-09-01 0 days 1,563 sqft
    2022-10-01 0 days 1,534 sqft
    2022-11-01 0 days 1,552 sqft
    2022-12-01 0 days 1,509 sqft
    2023-01-01 0 days 1,446 sqft
    2023-02-01 0 days 1,461 sqft
    Macomb's median listing age (time on market) for 2023-02-01 was 0 days.

    Macomb's median square footage for active listings during the 2023-02-01 period was 1,461 sqft. One year prior, the average listing was 1,344 sqft.

    Macomb, IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 270 $31,660,000 $117,259
    Refi 39 $3,715,000 $95,256
    Cash Out Refi 37 $3,885,000 $105,000
    Home Improvement 20 $970,000 $48,500
    Other 8 $220,000 $27,500

    Macomb's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Refi, with 39 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 92 $9,660,000 $105,000
    4-5% 88 $10,220,000 $116,136
    3-4% 59 $6,315,000 $107,034
    6-7% 50 $5,090,000 $101,800
    7-8% 15 $1,195,000 $79,667
    2.5-3% 14 $1,610,000 $115,000
    Over 8% 9 $295,000 $32,778
    <2.5% 4 $450,000 $112,500

    During 2022, Macomb's most frequently originated rate bucket was 5-6%, with 92 originations.

    Loan Sizing (Macomb, IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 218 $12,530,000 $57,477
    $100k-200k 122 $17,330,000 $142,049
    $200k-400k 29 $7,695,000 $265,345
    $400k-600k 3 $1,405,000 $468,333
    $600k-1000k 2 $1,490,000 $745,000

    Macomb's loan sizing saw the bucket of loans from $100,000 or less with 218 originations, totaling $12,530,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 191 $21,865,000 $114,476
    60-80% 76 $9,010,000 $118,553
    40-60% 28 $2,320,000 $82,857
    20-40% 21 $915,000 $43,571
    Under 20% 11 $275,000 $25,000
    Over 100% 4 $450,000 $112,500

    Macomb's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 191 originations, totaling $21,865,000 in origination value.