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 7.22% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

The average rate for the prior week (2023-09-07) was 7.06% and one month ago for the week of 2023-08-10, the average rate was 7%.

Macomb's average rate one year ago was 6.03%.

For refis of the same type during the week of 2023-09-14, the average rate was 7.38%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-14 7.18%
Macomb 30 Year Fixed Rate 2023-09-14 7.22%
Macomb 30 Year Fixed Rate Refi 2023-09-14 7.38%
Macomb 15 Year Fixed Rate 2023-09-14 6.41%
Macomb 15 Year Fixed Rate Refi 2023-09-14 7.01%
Macomb 30 Year FHA 2023-09-14 6.89%
Macomb 30 Year FHA Refi 2023-09-14 6.89%
Macomb 30 Year USDA 2023-09-14 6.88%
Macomb 30 Year USDA Refi 2023-09-14 6.88%
Macomb 30 Year VA 2023-09-14 7.01%
Macomb 30 Year VA Refi 2023-09-14 6.61%
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 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%) $98,784 (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
Macomb's median listing price for 2023-08-01 was $72,450, a difference of $3,000 (4.3%) versus the prior year and $-3,300 versus the prior month.

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

Macomb's average listing price for 2023-08-01 was $104,481, a difference of $5,533 (5.6%) versus the prior year and $-15,938 versus the prior month.

For the 2023-08-01 period, Macomb had 59 MLS listings, a difference of -16 listings (-21%) versus the prior month and -50 listings (-46%) 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 1,375 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
Macomb's median listing age (time on market) for 2023-08-01 was 0 days.

Macomb's median square footage for active listings during the 2023-08-01 period was 1,378 sqft. One year prior, the average listing was 1,583 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.