Madison Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Madison averaged 7.22% for the week of 2024-06-06, compared to the national average of 6.99% for the same period.

The average rate for the prior week (2024-05-30) was 7.06% and one month ago for the week of 2024-05-02, the average rate was 7.35%.

Madison's average rate one year ago was 6.82%.

For refis of the same type during the week of 2024-06-06, the average rate was 7.59%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-06 6.99%
Madison 30 Year Fixed Rate 2024-06-06 7.22%
Madison 30 Year Fixed Rate Refi 2024-06-06 7.59%
Madison 15 Year Fixed Rate 2024-06-06 6.39%
Madison 15 Year Fixed Rate Refi 2024-06-06 6.89%
Madison 30 Year FHA 2024-06-06 6.76%
Madison 30 Year FHA Refi 2024-06-06 6.69%
Madison 30 Year USDA 2024-06-06 6.6%
Madison 30 Year USDA Refi 2024-06-06 6.5%
Madison 30 Year VA 2024-06-06 6.39%
Madison 30 Year VA Refi 2024-06-06 6.59%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Madison, IN.

Madison 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 Madison, IN 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
RUOFF MORTGAGE COMPANY, INC. 30 6.97% $3,102
The Friendship State Bank 23 6.95% $2,369
German American Bank 21 6.82% $3,118
First Financial Bank 14 7.18% $3,030
Centra Credit Union 12 6.67% $2,624
GENEVA FINANCIAL, LLC 10 7.08% $4,742
QUICKEN LOANS, LLC 9 6.58% $5,925
UNITED WHOLESALE MORTGAGE, LLC 7 6.76% $5,157
Farm Credit Mid-America, ACA 6 7.63% $5,783
MJW Financial LLC 4 6.87% $5,543
JPMorgan Chase Bank 4 7.31% $2,349
FAIR WAY LENDING LLC 4 6.81% $5,736
STOCKTON MORTGAGE CORPORATION 3 6.83% $3,770
Magnolia Bank 3 6.75% $2,985
PENNYMAC LOAN SERVICES, LLC 2 6.56% $6,538
Jackson County Bank 2 7.06% $2,887
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.81% $4,510
PROVIDENT FUNDING ASSOCIATES, L.P. 2 6.31% $2,186
Old National Bank 2 6.38% $3,622
SIRVA MORTGAGE, INC. 2 6.50% $3,118
NEWREZ LLC 1 6.99% $3,809
Northpointe Bank 1 6.13% $3,942
PNC Bank 1 6.25% $2,250
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.38% $10,450
Republic Bank & Trust Company 1 7.00% $2,819
The Loan Store, Inc. 1 6.75% $4,722
USAA Federal Savings Bank 1 6.50% $4,966
AFFINITY 1 5.38% $4,212
WRIGHT-PATT CREDIT UNION, INC. 1 6.75% $3,555
AMERISAVE MORTGAGE CORPORATION 1 6.38% $5,691
BROKER SOLUTIONS, INC. 1 7.50% $6,447
CARDINAL FINANCIAL 1 6.63% $6,423
Community Mortgage Banc Corporation 1 7.50% $5,809
CROSSCOUNTRY MORTGAGE, LLC 1 7.38% $4,512
Discover Bank 1 6.24% $0
Equity Prime Mortgage LLC 1 7.25% $4,790
EVANSVILLE TEACHERS 1 6.63% $2,365
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.13% $2,044
FIDELITY BANK 1 6.75% $2,923
Fifth Third Bank 1 6.49% $2,594
First Harrison Bank 1 7.38% $2,624
Flagstar Bank, FSB 1 6.13% $2,684
GUARANTEED RATE, INC. 1 7.40% $12,712
Guardian Savings Bank, A Federal Savings Bank 1 6.25% $855
L & N Federal Credit Union 1 6.50% $1,797
LOANDEPOT.COM, LLC 1 6.13% $4,869
MORTGAGE 1 INCORPORATED 1 5.88% $5,644
MORTGAGE MASTERS OF INDIANA, INC. 1 6.63% $3,179

Madison Average Closing Costs & Other Stats

Madison, IN's 48 lenders originated 734 loans during 2023. The total origination value was $106,700,000, with an average loan value of $145,368.

Madison's average closing costs are $3,968.

The top Madison lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 30 loans originated. Their average total fees are $3,102, which is $733 higher than the next largest lender, The Friendship State Bank.

The lowest fee Madison lenders (with over 10 loans originated) are The Friendship State Bank ($2,369), Centra Credit Union ($2,624), First Financial Bank ($3,030), RUOFF MORTGAGE COMPANY, INC. ($3,102) and German American Bank ($3,118).

The lowest rate Madison lenders (with over 10 loans originated) are Centra Credit Union (6.67%), German American Bank (6.82%), The Friendship State Bank (6.95%), RUOFF MORTGAGE COMPANY, INC. (6.97%) and GENEVA FINANCIAL, LLC (7.08%).

Madison, IN 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
German American Bank $18,690,000 $15,075,000 -19.3% 14.1%
The Farmers Bank of Milton $9,220,000 $12,165,000 31.9% 11.4%
RUOFF MORTGAGE COMPANY, INC. $14,850,000 $9,405,000 -36.7% 8.8%
First Financial Bank $13,120,000 $8,540,000 -34.9% 8.0%
The Friendship State Bank $7,815,000 $6,750,000 -13.6% 6.3%
GENEVA FINANCIAL, LLC $7,625,000 $5,850,000 -23.3% 5.5%
Centra Credit Union $3,110,000 $5,210,000 67.5% 4.9%
QUICKEN LOANS, LLC $7,080,000 $4,680,000 -33.9% 4.4%
Prudential Huntoon Paige Associates, LLC $3,835,000 n/a 3.6%
UNITED WHOLESALE MORTGAGE, LLC $2,575,000 $3,025,000 17.5% 2.8%
Mortgage Research Center, LLC $2,235,000 $2,780,000 24.4% 2.6%
Farm Credit Mid-America, ACA $895,000 $1,970,000 120.1% 1.8%
FAIR WAY LENDING LLC $3,455,000 $1,770,000 -48.8% 1.7%
BROKER SOLUTIONS, INC. $975,000 $1,430,000 46.7% 1.3%
FREEDOM MORTGAGE CORPORATION $1,005,000 $1,265,000 25.9% 1.2%
Old National Bank $770,000 $1,150,000 49.4% 1.1%
Century Mortgage Company DBA Century Lending Company $2,380,000 $1,115,000 -53.2% 1.0%
MJW Financial LLC $640,000 $1,090,000 70.3% 1.0%
PENNYMAC LOAN SERVICES, LLC $1,110,000 $1,040,000 -6.3% 1.0%
LOANDEPOT.COM, LLC $1,210,000 $820,000 -32.2% 0.8%
JPMorgan Chase Bank $665,000 $800,000 20.3% 0.7%
Equity Prime Mortgage LLC $670,000 n/a 0.6%
SIRVA MORTGAGE, INC. $670,000 n/a 0.6%
Bedford Loan & Deposit Bank $295,000 $655,000 122.0% 0.6%
GVC MORTGAGE, INC. $725,000 $635,000 -12.4% 0.6%
Magnolia Bank $970,000 $565,000 -41.8% 0.5%
Jackson County Bank $155,000 $545,000 251.6% 0.5%
PLANET HOME LENDING, LLC $500,000 n/a 0.5%
Wells Fargo Bank $1,630,000 $490,000 -69.9% 0.5%
STOCKTON MORTGAGE CORPORATION $315,000 $465,000 47.6% 0.4%
PRIMARY RESIDENTIAL MORTGAGE, INC. $450,000 n/a 0.4%
PNC Bank $715,000 $425,000 -40.6% 0.4%
NEWREZ LLC $185,000 $410,000 121.6% 0.4%
AMERISAVE MORTGAGE CORPORATION $700,000 $400,000 -42.9% 0.4%
AMERICAN PACIFIC MORTGAGE CORPORATION $215,000 $395,000 83.7% 0.4%
Fifth Third Bank $885,000 $395,000 -55.4% 0.4%
21ST MORTGAGE CORPORATION $390,000 n/a 0.4%
Carrington Mortgage Services, LLC $735,000 $375,000 -49.0% 0.4%
GUARANTEED RATE, INC. $375,000 n/a 0.4%
PROVIDENT FUNDING ASSOCIATES, L.P. $105,000 $360,000 242.9% 0.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $435,000 $335,000 -23.0% 0.3%
CARDINAL FINANCIAL $560,000 $305,000 -45.5% 0.3%
WRIGHT-PATT CREDIT UNION, INC. $285,000 n/a 0.3%
CROSSCOUNTRY MORTGAGE, LLC $235,000 $280,000 19.1% 0.3%
TRIAD FINANCIAL SERVICES, INC. $510,000 $275,000 -46.1% 0.3%
Prosperity Home Mortgage, LLC $305,000 $265,000 -13.1% 0.2%
Discover Bank $65,000 $240,000 269.2% 0.2%
L & N Federal Credit Union $235,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $75,000 $235,000 213.3% 0.2%
Owen County State Bank $235,000 n/a 0.2%
Willamette Valley Bank $255,000 $235,000 -7.8% 0.2%
HOMESIDE FINANCIAL, LLC $135,000 $225,000 66.7% 0.2%
Northpointe Bank $225,000 n/a 0.2%
1ST SIGNATURE LENDING, LLC $205,000 $215,000 4.9% 0.2%
AFFINITY $215,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $1,115,000 $215,000 -80.7% 0.2%
Meridian Bank Corporation $205,000 n/a 0.2%
Community Mortgage Banc Corporation $195,000 n/a 0.2%
MORTGAGE MASTERS OF INDIANA, INC. $195,000 n/a 0.2%
First Harrison Bank $195,000 $170,000 -12.8% 0.2%
CRANE $165,000 n/a 0.2%
LOANPAL, LLC $125,000 $165,000 32.0% 0.2%
RELIANCE FIRST CAPITAL, LLC $165,000 n/a 0.2%
USAA Federal Savings Bank $255,000 $165,000 -35.3% 0.2%
First Financial Bank $13,120,000 $155,000 -98.8% 0.1%
Guardian Savings Bank, A Federal Savings Bank $155,000 n/a 0.1%
FIDELITY BANK $145,000 n/a 0.1%
Wilson & Muir Bank & Trust Company $145,000 n/a 0.1%
MORTGAGE 1 INCORPORATED $135,000 n/a 0.1%
The Loan Store, Inc. $135,000 n/a 0.1%
UNION HOME MORTGAGE CORP. $175,000 $125,000 -28.6% 0.1%
Figure Lending LLC $35,000 $120,000 242.9% 0.1%
EVANSVILLE TEACHERS $250,000 $105,000 -58.0% 0.1%
First Bank of Berne $105,000 n/a 0.1%
U.S. Bank $685,000 $105,000 -84.7% 0.1%
Republic Bank & Trust Company $235,000 $95,000 -59.6% 0.1%
Truist $275,000 $85,000 -69.1% 0.1%
UNIFY FINANCIAL Credit Union $105,000 $75,000 -28.6% 0.1%
NAVY FEDERAL CREDIT UNION $800,000 $70,000 -91.3% 0.1%
AMERICAN FINANCING CORPORATION $65,000 n/a 0.1%
HONDA Federal Credit Union $145,000 $65,000 -55.2% 0.1%
SPRING EQ, LLC $95,000 $55,000 -42.1% 0.1%
Flagstar Bank, FSB $665,000 $45,000 -93.2% 0.0%
The Huntington National Bank $590,000 $45,000 -92.4% 0.0%
Citizens Bank $455,000 $35,000 -92.3% 0.0%
TEACHERS CREDIT UNION $25,000 $35,000 40.0% 0.0%
Baxter Credit Union $25,000 n/a 0.0%
First Savings Bank $245,000 $25,000 -89.8% 0.0%
PARK COMMUNITY CREDIT UNION, INC. $460,000 $15,000 -96.7% 0.0%

Madison's top lender by overall market share is German American Bank, with 14.1% market share. In second place, with 11.4%, is The Farmers Bank of Milton, having originated $12,165,000 in loans. In third place, with 8.8%, is RUOFF MORTGAGE COMPANY, INC., having originated $9,405,000 in loans. In fourth place, with 8.0%, is First Financial Bank, having originated $8,540,000 in loans. In fifth place, with 6.3%, is The Friendship State Bank, having originated $6,750,000 in loans.


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

Realtor.com - Madison (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 $159,900 (24.0%) $196,344 (33.3%) 0.00 113
2018-02-01 $161,150 (24.1%) $197,215 (33.7%) 0.00 117
2018-03-01 $159,900 (19.1%) $196,045 (23.3%) 0.00 122
2018-04-01 $162,925 (19.6%) $203,340 (20.8%) 0.00 115
2018-05-01 $161,425 (17.3%) $199,518 (15.0%) 0.00 112
2018-06-01 $163,000 (13.6%) $203,012 (13.3%) 0.00 112
2018-07-01 $161,150 (11.2%) $213,341 (17.5%) 0.00 118
2018-08-01 $161,150 (7.5%) $215,007 (20.5%) 0.00 122
2018-09-01 $162,400 (1.6%) $221,093 (18.1%) 0.00 130
2018-10-01 $159,900 (0.3%) $222,465 (16.1%) 0.00 126
2018-11-01 $158,400 (3.9%) $217,549 (15.1%) 0.00 114
2018-12-01 $162,000 (8.1%) $216,510 (16.0%) 0.00 108
2019-01-01 $177,400 (10.9%) $221,628 (12.9%) 0.00 110
2019-02-01 $175,550 (8.9%) $225,116 (14.2%) 0.00 96
2019-03-01 $177,171 (10.8%) $229,040 (16.8%) 0.00 98
2019-04-01 $191,050 (17.3%) $233,133 (14.7%) 0.00 98
2019-05-01 $194,500 (20.5%) $228,110 (14.3%) 0.00 106
2019-06-01 $195,000 (19.6%) $224,883 (10.8%) 0.00 104
2019-07-01 $189,000 (17.3%) $231,701 (8.6%) 0.00 109
2019-08-01 $179,545 (11.4%) $222,253 (3.4%) 0.00 119
2019-09-01 $173,614 (6.9%) $215,512 (-2.5%) 0.00 134
2019-10-01 $169,000 (5.7%) $210,311 (-5.5%) 0.00 142
2019-11-01 $165,000 (4.2%) $214,366 (-1.5%) 0.00 125
2019-12-01 $159,700 (-1.4%) $218,712 (1.0%) 0.00 122
2020-01-01 $154,900 (-12.7%) $191,526 (-13.6%) 0.00 117
2020-02-01 $149,900 (-14.6%) $187,540 (-16.7%) 0.00 114
2020-03-01 $164,000 (-7.4%) $192,862 (-15.8%) 0.00 108
2020-04-01 $165,000 (-13.6%) $191,808 (-17.7%) 0.00 99
2020-05-01 $177,500 (-8.7%) $197,710 (-13.3%) 0.00 97
2020-06-01 $182,450 (-6.4%) $205,423 (-8.7%) 0.00 89
2020-07-01 $183,125 (-3.1%) $213,709 (-7.8%) 0.00 78
2020-08-01 $185,400 (3.3%) $224,649 (1.1%) 0.00 74
2020-09-01 $184,900 (6.5%) $221,608 (2.8%) 0.00 56
2020-10-01 $164,900 (-2.4%) $211,398 (0.5%) 0.00 47
2020-11-01 $167,325 (1.4%) $207,704 (-3.1%) 0.00 54
2020-12-01 $179,450 (12.4%) $209,776 (-4.1%) 0.00 51
2021-01-01 $169,900 (9.7%) $206,793 (8.0%) 0.00 44
2021-02-01 $158,050 (5.4%) $204,200 (8.9%) 0.00 31
2021-03-01 $174,900 (6.7%) $217,720 (12.9%) 0.00 36
2021-04-01 $168,700 (2.2%) $219,270 (14.3%) 0.00 32
2021-05-01 $184,900 (4.2%) $231,321 (17.0%) 0.00 31
2021-06-01 $181,800 (-0.4%) $229,273 (11.6%) 0.00 43
2021-07-01 $189,450 (3.5%) $232,528 (8.8%) 0.00 56
2021-08-01 $184,900 (-0.3%) $232,816 (3.6%) 0.00 73
2021-09-01 $207,000 (12.0%) $256,591 (15.8%) 0.00 73
2021-10-01 $207,000 (25.5%) $257,087 (21.6%) 0.00 66
2021-11-01 $209,900 (25.4%) $276,168 (33.0%) 0.00 47
2021-12-01 $234,900 (30.9%) $293,204 (39.8%) 0.00 50
2022-01-01 $209,900 (23.5%) $272,508 (31.8%) 0.00 58
2022-02-01 $202,475 (28.1%) $251,114 (23.0%) 0.00 51
2022-03-01 $223,925 (28.0%) $262,252 (20.5%) 0.00 49
2022-04-01 $229,000 (35.7%) $290,745 (32.6%) 0.00 40
2022-05-01 $257,200 (39.1%) $293,652 (27.0%) 0.00 42
2022-06-01 $239,900 (32.0%) $267,498 (16.7%) 0.00 47
2022-07-01 $253,400 (33.8%) $280,789 (20.8%) 0.00 66
2022-08-01 $243,725 (31.8%) $277,265 (19.1%) 0.00 73
2022-09-01 $252,250 (21.9%) $285,543 (11.3%) 0.00 71
2022-10-01 $247,000 (19.3%) $299,200 (16.4%) 0.00 78
2022-11-01 $219,900 (4.8%) $283,762 (2.8%) 0.00 70
2022-12-01 $254,950 (8.5%) $314,466 (7.3%) 0.00 53
2023-01-01 $244,700 (16.6%) $326,691 (19.9%) 0.00 54
2023-02-01 $266,150 (31.5%) $334,543 (33.2%) 0.00 48
2023-03-01 $265,150 (18.4%) $316,411 (20.7%) 0.00 52
2023-04-01 $254,900 (11.3%) $319,635 (9.9%) 0.00 50
2023-05-01 $259,950 (1.1%) $332,078 (13.1%) 0.00 52
2023-06-01 $283,050 (18.0%) $333,732 (24.8%) 0.00 50
2023-07-01 $259,500 (2.4%) $325,551 (15.9%) 0.00 57
2023-08-01 $271,225 (11.3%) $331,568 (19.6%) 0.00 61
2023-09-01 $289,900 (14.9%) $349,666 (22.5%) 0.00 66
2023-10-01 $284,900 (15.3%) $357,293 (19.4%) 0.00 70
2023-11-01 $303,450 (38.0%) $362,693 (27.8%) 0.00 72
2023-12-01 $294,900 (15.7%) $355,911 (13.2%) 0.00 74
2024-01-01 $296,150 (21.0%) $341,553 (4.6%) 0.00 60
2024-02-01 $273,700 (2.8%) $327,508 (-2.1%) 0.00 53
2024-03-01 $258,500 (-2.5%) $303,567 (-4.1%) 0.00 51
2024-04-01 $253,700 (-0.5%) $306,672 (-4.1%) 0.00 47
2024-05-01 $324,900 (25.0%) $332,285 (0.1%) 0.00 52
Madison's median listing price for 2024-05-01 was $324,900, a difference of $64,950 (25.0%) versus the prior year and $71,200 versus the prior month.

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

Madison's average listing price for 2024-05-01 was $332,285, a difference of $207 (0.1%) versus the prior year and $25,613 versus the prior month.

For the 2024-05-01 period, Madison had 52 MLS listings, a difference of 5 listings (11%) versus the prior month and 0 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,913 sqft
2018-02-01 0 days 1,902 sqft
2018-03-01 0 days 1,920 sqft
2018-04-01 0 days 1,926 sqft
2018-05-01 0 days 1,922 sqft
2018-06-01 0 days 1,950 sqft
2018-07-01 0 days 1,946 sqft
2018-08-01 0 days 1,939 sqft
2018-09-01 0 days 1,974 sqft
2018-10-01 0 days 1,994 sqft
2018-11-01 0 days 2,044 sqft
2018-12-01 0 days 1,930 sqft
2019-01-01 0 days 1,875 sqft
2019-02-01 0 days 1,840 sqft
2019-03-01 0 days 1,829 sqft
2019-04-01 0 days 1,884 sqft
2019-05-01 0 days 1,971 sqft
2019-06-01 0 days 1,878 sqft
2019-07-01 0 days 1,868 sqft
2019-08-01 0 days 1,822 sqft
2019-09-01 0 days 1,760 sqft
2019-10-01 0 days 1,701 sqft
2019-11-01 0 days 1,705 sqft
2019-12-01 0 days 1,690 sqft
2020-01-01 0 days 1,683 sqft
2020-02-01 0 days 1,680 sqft
2020-03-01 0 days 1,690 sqft
2020-04-01 0 days 1,603 sqft
2020-05-01 0 days 1,750 sqft
2020-06-01 0 days 1,750 sqft
2020-07-01 0 days 1,753 sqft
2020-08-01 0 days 1,768 sqft
2020-09-01 0 days 1,824 sqft
2020-10-01 0 days 1,663 sqft
2020-11-01 0 days 1,751 sqft
2020-12-01 0 days 1,607 sqft
2021-01-01 0 days 1,560 sqft
2021-02-01 0 days 1,392 sqft
2021-03-01 0 days 1,443 sqft
2021-04-01 0 days 1,496 sqft
2021-05-01 0 days 1,624 sqft
2021-06-01 0 days 1,443 sqft
2021-07-01 0 days 1,462 sqft
2021-08-01 0 days 1,463 sqft
2021-09-01 0 days 1,445 sqft
2021-10-01 0 days 1,514 sqft
2021-11-01 0 days 1,835 sqft
2021-12-01 0 days 1,818 sqft
2022-01-01 0 days 1,792 sqft
2022-02-01 0 days 1,775 sqft
2022-03-01 0 days 1,772 sqft
2022-04-01 0 days 1,788 sqft
2022-05-01 0 days 1,798 sqft
2022-06-01 0 days 1,793 sqft
2022-07-01 0 days 1,800 sqft
2022-08-01 0 days 1,886 sqft
2022-09-01 0 days 1,863 sqft
2022-10-01 0 days 1,856 sqft
2022-11-01 0 days 1,740 sqft
2022-12-01 0 days 1,784 sqft
2023-01-01 0 days 1,703 sqft
2023-02-01 0 days 1,745 sqft
2023-03-01 0 days 1,724 sqft
2023-04-01 0 days 1,792 sqft
2023-05-01 0 days 1,817 sqft
2023-06-01 0 days 1,900 sqft
2023-07-01 0 days 1,836 sqft
2023-08-01 0 days 1,749 sqft
2023-09-01 0 days 1,874 sqft
2023-10-01 0 days 1,789 sqft
2023-11-01 0 days 1,900 sqft
2023-12-01 0 days 1,900 sqft
2024-01-01 0 days 1,845 sqft
2024-02-01 0 days 1,809 sqft
2024-03-01 0 days 1,782 sqft
2024-04-01 0 days 1,788 sqft
2024-05-01 0 days 1,872 sqft
Madison's median listing age (time on market) for 2024-05-01 was 0 days.

Madison's median square footage for active listings during the 2024-05-01 period was 1,872 sqft. One year prior, the average listing was 1,817 sqft.

Madison, IN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 349 $69,975,000 $200,501
Cash Out Refi 104 $11,390,000 $109,519
Home Improvement 101 $7,115,000 $70,446
Other 96 $7,700,000 $80,208
Refi 84 $10,520,000 $125,238

Madison's most frequently cited loan purpose was Home Purchase, with 349 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 254 $40,930,000 $161,142
7-8% 155 $24,085,000 $155,387
5-6% 89 $14,545,000 $163,427
<2.5% 81 $6,955,000 $85,864
Over 8% 74 $5,840,000 $78,919
4-5% 11 $1,085,000 $98,636
3-4% 1 $25,000 $25,000

During 2023, Madison's most frequently originated rate bucket was 6-7%, with 254 originations.

Loan Sizing (Madison, IN MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 297 $15,005,000 $50,522
$100k-200k 260 $38,310,000 $147,346
$200k-400k 164 $43,310,000 $264,085
$400k-600k 9 $4,225,000 $469,444
$600k-1000k 3 $2,015,000 $671,667
$Over $1MM 1 $3,835,000 $3,835,000

Madison's loan sizing saw the bucket of loans from $100,000 or less with 297 originations, totaling $15,005,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 223 $43,215,000 $193,789
Under 20% 125 $4,405,000 $35,240
20-40% 122 $9,950,000 $81,557
60-80% 113 $21,115,000 $186,858
40-60% 70 $14,050,000 $200,714
Over 100% 2 $450,000 $225,000

Madison's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 223 originations, totaling $43,215,000 in origination value.