Madison Mortgage Rates & Closing Costs

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  • Trends
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Madison averaged 7.01% for the week of 2024-04-11, compared to the national average of 6.88% for the same period.

    The average rate for the prior week (2024-04-04) was 7.05% and one month ago for the week of 2024-03-07, the average rate was 7.21%.

    Madison's average rate one year ago was 6.51%.

    For refis of the same type during the week of 2024-04-11, the average rate was 7.28%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-11 6.88%
    Madison 30 Year Fixed Rate 2024-04-11 7.01%
    Madison 30 Year Fixed Rate Refi 2024-04-11 7.28%
    Madison 15 Year Fixed Rate 2024-04-11 6.36%
    Madison 15 Year Fixed Rate Refi 2024-04-11 6.06%
    Madison 30 Year FHA 2024-04-11 7.11%
    Madison 30 Year FHA Refi 2024-04-11 6.54%
    Madison 30 Year USDA 2024-04-11 6.81%
    Madison 30 Year USDA Refi 2024-04-11 6.91%
    Madison 30 Year VA 2024-04-11 6.47%
    Madison 30 Year VA Refi 2024-04-11 6.37%
    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
    Madison's median listing price for 2024-03-01 was $258,500, a difference of $-6,650 (-2.5%) versus the prior year and $-15,200 versus the prior month.

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

    Madison's average listing price for 2024-03-01 was $303,567, a difference of $-12,844 (-4.1%) versus the prior year and $-23,941 versus the prior month.

    For the 2024-03-01 period, Madison had 51 MLS listings, a difference of -2 listings (-4%) versus the prior month and -1 listings (-2%) 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
    Madison's median listing age (time on market) for 2024-03-01 was 0 days.

    Madison's median square footage for active listings during the 2024-03-01 period was 1,782 sqft. One year prior, the average listing was 1,724 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.