Magnolia Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Magnolia averaged
6.37%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.19% and
one month ago for the week of 2023-04-20, the
average rate was 6.59%.
Magnolia's average rate one year ago was 5.35%.
For refis of the same type during the week of 2023-05-25, the average rate
was 6.87%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
Magnolia 30 Year Fixed Rate | 2023-05-25 | 6.37% |
Magnolia 30 Year Fixed Rate Refi | 2023-05-25 | 6.87% |
Magnolia 15 Year Fixed Rate | 2023-05-25 | 5.97% |
Magnolia 15 Year Fixed Rate Refi | 2023-05-25 | 5.97% |
Magnolia 30 Year FHA | 2023-05-25 | 6.81% |
Magnolia 30 Year FHA Refi | 2023-05-25 | 6.61% |
Magnolia 30 Year USDA | 2023-05-25 | 6.83% |
Magnolia 30 Year USDA Refi | 2023-05-25 | 6.43% |
Magnolia 30 Year VA | 2023-05-25 | 6.41% |
Magnolia 30 Year VA Refi | 2023-05-25 | 6.51% |
Magnolia 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 Magnolia, AR 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 |
---|---|---|---|
QUICKEN LOANS, LLC | 31 | 4.73% | $4,908 |
Farmers Bank & Trust Company | 7 | 4.46% | $4,061 |
FirstTrust Home Loans, Inc. | 4 | 3.69% | $4,395 |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 3 | 6.25% | $4,707 |
BancorpSouth Bank | 3 | 4.92% | $2,366 |
LOANDEPOT.COM, LLC | 2 | 4.62% | $12,461 |
Wells Fargo Bank | 2 | 5.63% | $3,662 |
STANDARD MORTGAGE CORPORATION | 1 | 5.38% | $2,281 |
State Bank of De Kalb | 1 | 4.88% | $4,725 |
ZILLOW HOME LOANS, LLC | 1 | 4.25% | $3,129 |
CALIBER HOME LOANS, INC. | 1 | 4.25% | $3,555 |
EVERETT FINANCIAL, INC. | 1 | 3.38% | $2,596 |
Farm Credit Services of Western Arkansas, ACA | 1 | 6.55% | $6,220 |
MORTGAGE FINANCIAL SERVICES, LLC | 1 | 4.25% | $2,874 |
North American Savings Bank, F.S.B. | 1 | 2.75% | $275 |
PLANET HOME LENDING, LLC | 1 | 5.63% | $5,436 |
Magnolia Average Closing Costs & Other Stats
Magnolia, AR's 16 lenders originated 284
loans during 2022. The total origination value was $48,530,000, with an average loan value of
$170,880.
Magnolia's average closing costs are $4,439.
The top Magnolia lender as defined by loan originations is QUICKEN LOANS, LLC, with
31 loans originated. Their average total fees are
$4,908, which is $846
higher than the next largest lender,
Farmers Bank & Trust Company.
The lowest fee Magnolia lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($4,908), .
The lowest rate Magnolia lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.73%), .
Magnolia, AR 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 |
---|---|---|---|---|
Farmers Bank & Trust Company | $23,340,000 | $20,385,000 | -12.7% | 42.0% |
QUICKEN LOANS, LLC | $22,855,000 | $9,710,000 | -57.5% | 20.0% |
BancorpSouth Bank | $1,055,000 | $2,695,000 | 155.5% | 5.6% |
Mortgage Research Center, LLC | $1,385,000 | $1,970,000 | 42.2% | 4.1% |
21ST MORTGAGE CORPORATION | $880,000 | $1,000,000 | 13.6% | 2.1% |
EVERETT FINANCIAL, INC. | $950,000 | n/a | 2.0% | |
FirstTrust Home Loans, Inc. | $2,320,000 | $935,000 | -59.7% | 1.9% |
Farm Credit Services of Western Arkansas, ACA | $360,000 | $685,000 | 90.3% | 1.4% |
LOANDEPOT.COM, LLC | $2,075,000 | $660,000 | -68.2% | 1.4% |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $1,125,000 | $650,000 | -42.2% | 1.3% |
UNITED WHOLESALE MORTGAGE, LLC | $500,000 | n/a | 1.0% | |
TRIAD FINANCIAL SERVICES, INC. | $435,000 | $395,000 | -9.2% | 0.8% |
NEW DAY FINANCIAL, LLC | $245,000 | $390,000 | 59.2% | 0.8% |
GENEVA FINANCIAL, LLC | $385,000 | n/a | 0.8% | |
FREEDOM MORTGAGE CORPORATION | $1,565,000 | $370,000 | -76.4% | 0.8% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $355,000 | n/a | 0.7% | |
State Bank of De Kalb | $165,000 | $355,000 | 115.2% | 0.7% |
ZILLOW HOME LOANS, LLC | $165,000 | $355,000 | 115.2% | 0.7% |
Wells Fargo Bank | $315,000 | $350,000 | 11.1% | 0.7% |
North American Savings Bank, F.S.B. | $395,000 | $345,000 | -12.7% | 0.7% |
AMERISAVE MORTGAGE CORPORATION | $185,000 | $285,000 | 54.1% | 0.6% |
PLANET HOME LENDING, LLC | $270,000 | n/a | 0.6% | |
GSF Mortgage Corporation | $255,000 | n/a | 0.5% | |
NAVY FEDERAL CREDIT UNION | $255,000 | n/a | 0.5% | |
TEXAR | $255,000 | n/a | 0.5% | |
LONGBRIDGE FINANCIAL, LLC | $205,000 | n/a | 0.4% | |
PNC Bank | $205,000 | n/a | 0.4% | |
CSL Financial, LLC | $65,000 | $200,000 | 207.7% | 0.4% |
BOKF | $195,000 | n/a | 0.4% | |
MORTGAGE FINANCIAL SERVICES, LLC | $195,000 | n/a | 0.4% | |
Peoples Bank | $185,000 | n/a | 0.4% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $180,000 | n/a | 0.4% | |
DAS Acquisition Company, LLC | $175,000 | n/a | 0.4% | |
First Midwest Bank of Dexter | $155,000 | n/a | 0.3% | |
LOANPAL, LLC | $155,000 | n/a | 0.3% | |
STANDARD MORTGAGE CORPORATION | $155,000 | n/a | 0.3% | |
United Community Bank | $150,000 | n/a | 0.3% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $145,000 | n/a | 0.3% | |
JPMorgan Chase Bank | $145,000 | n/a | 0.3% | |
Carrington Mortgage Services, LLC | $95,000 | $125,000 | 31.6% | 0.3% |
TELCOE FEDERAL CREDIT UNION | $125,000 | n/a | 0.3% | |
Horatio State Bank | $115,000 | n/a | 0.2% | |
Arvest Bank | $320,000 | $110,000 | -65.6% | 0.2% |
AMCAP MORTGAGE, LTD. | $105,000 | n/a | 0.2% | |
CALIBER HOME LOANS, INC. | $2,025,000 | $105,000 | -94.8% | 0.2% |
M&T Bank | $95,000 | n/a | 0.2% | |
MEMBER ADVANTAGE MORTGAGE, LLC | $305,000 | $85,000 | -72.1% | 0.2% |
Nations Lending Corporation | $85,000 | n/a | 0.2% | |
GUILD MORTGAGE COMPANY | $75,000 | n/a | 0.2% | |
Century Next Bank | $65,000 | n/a | 0.1% | |
First Guaranty Mortgage Corporation | $65,000 | n/a | 0.1% | |
The First National Bank of Tom Bean | $15,000 | $65,000 | 333.3% | 0.1% |
NEWREZ LLC | $75,000 | $45,000 | -40.0% | 0.1% |
Figure Lending LLC | $35,000 | n/a | 0.1% | |
ARKANSAS Federal Credit Union | $95,000 | $25,000 | -73.7% | 0.1% |
Magnolia's top lender by overall market share is Farmers Bank & Trust Company, with 42.0% market share. In second place, with 20.0%, is QUICKEN LOANS, LLC, having originated $9,710,000 in loans. In third place, with 5.6%, is BancorpSouth Bank, having originated $2,695,000 in loans. In fourth place, with 4.1%, is Mortgage Research Center, LLC, having originated $1,970,000 in loans. In fifth place, with 2.1%, is 21ST MORTGAGE CORPORATION, having originated $1,000,000 in loans.
Magnolia Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $119,900 (1.6%) | $140,881 (-12.1%) | 0.00 | 140 |
2018-02-01 | $114,950 (-1.8%) | $137,705 (-12.1%) | 0.00 | 137 |
2018-03-01 | $119,900 (3.4%) | $135,609 (-14.7%) | 0.00 | 130 |
2018-04-01 | $134,950 (15.3%) | $145,999 (-6.3%) | 0.00 | 127 |
2018-05-01 | $149,000 (24.3%) | $152,893 (-2.2%) | 0.00 | 125 |
2018-06-01 | $132,400 (2.9%) | $146,571 (-4.3%) | 0.00 | 127 |
2018-07-01 | $123,950 (-11.1%) | $138,981 (-11.1%) | 0.00 | 108 |
2018-08-01 | $129,900 (-5.4%) | $143,593 (-6.7%) | 0.00 | 109 |
2018-09-01 | $129,900 (-6.6%) | $145,190 (-7.8%) | 0.00 | 110 |
2018-10-01 | $132,450 (2.9%) | $148,146 (-2.1%) | 0.00 | 120 |
2018-11-01 | $136,250 (5.4%) | $151,323 (-0.1%) | 0.00 | 116 |
2018-12-01 | $146,950 (15.3%) | $154,599 (4.9%) | 0.00 | 118 |
2019-01-01 | $149,450 (24.7%) | $156,456 (11.1%) | 0.00 | 113 |
2019-02-01 | $149,225 (29.8%) | $153,060 (11.2%) | 0.00 | 115 |
2019-03-01 | $142,500 (18.9%) | $154,755 (14.1%) | 0.00 | 104 |
2019-04-01 | $141,200 (4.6%) | $160,382 (9.9%) | 0.00 | 108 |
2019-05-01 | $148,250 (-0.5%) | $161,001 (5.3%) | 0.00 | 114 |
2019-06-01 | $147,500 (11.4%) | $162,348 (10.8%) | 0.00 | 123 |
2019-07-01 | $139,900 (12.9%) | $160,580 (15.5%) | 0.00 | 134 |
2019-08-01 | $139,900 (7.7%) | $162,568 (13.2%) | 0.00 | 135 |
2019-09-01 | $139,800 (7.6%) | $167,347 (15.3%) | 0.00 | 129 |
2019-10-01 | $139,900 (5.6%) | $169,100 (14.1%) | 0.00 | 124 |
2019-11-01 | $144,900 (6.4%) | $174,550 (15.4%) | 0.00 | 112 |
2019-12-01 | $145,200 (-1.2%) | $172,731 (11.7%) | 0.00 | 112 |
2020-01-01 | $152,000 (1.7%) | $179,419 (14.7%) | 0.00 | 107 |
2020-02-01 | $149,000 (-0.2%) | $178,006 (16.3%) | 0.00 | 115 |
2020-03-01 | $146,375 (2.7%) | $179,780 (16.2%) | 0.00 | 114 |
2020-04-01 | $152,400 (7.9%) | $185,275 (15.5%) | 0.00 | 111 |
2020-05-01 | $175,000 (18.0%) | $192,501 (19.6%) | 0.00 | 110 |
2020-06-01 | $167,850 (13.8%) | $191,094 (17.7%) | 0.00 | 103 |
2020-07-01 | $159,875 (14.3%) | $186,519 (16.2%) | 0.00 | 96 |
2020-08-01 | $169,900 (21.4%) | $191,357 (17.7%) | 0.00 | 86 |
2020-09-01 | $169,750 (21.4%) | $191,854 (14.6%) | 0.00 | 75 |
2020-10-01 | $169,000 (20.8%) | $184,401 (9.1%) | 0.00 | 79 |
2020-11-01 | $169,000 (16.6%) | $183,389 (5.1%) | 0.00 | 79 |
2020-12-01 | $159,750 (10.0%) | $174,849 (1.2%) | 0.00 | 78 |
2021-01-01 | $157,000 (3.3%) | $167,751 (-6.5%) | 0.00 | 71 |
2021-02-01 | $157,000 (5.4%) | $171,157 (-3.9%) | 0.00 | 66 |
2021-03-01 | $147,200 (0.6%) | $166,123 (-7.6%) | 0.00 | 54 |
2021-04-01 | $138,450 (-9.2%) | $159,636 (-13.8%) | 0.00 | 48 |
2021-05-01 | $138,700 (-20.7%) | $156,617 (-18.6%) | 0.00 | 40 |
2021-06-01 | $139,900 (-16.7%) | $160,709 (-15.9%) | 0.00 | 41 |
2021-07-01 | $132,500 (-17.1%) | $164,740 (-11.7%) | 0.00 | 42 |
2021-08-01 | $127,500 (-25.0%) | $171,286 (-10.5%) | 0.00 | 44 |
2021-09-01 | $141,225 (-16.8%) | $191,939 (0.0%) | 0.00 | 43 |
2021-10-01 | $150,000 (-11.2%) | $196,182 (6.4%) | 0.00 | 39 |
2021-11-01 | $163,500 (-3.3%) | $210,218 (14.6%) | 0.00 | 36 |
2021-12-01 | $203,750 (27.5%) | $217,092 (24.2%) | 0.00 | 38 |
2022-01-01 | $180,000 (14.7%) | $208,824 (24.5%) | 0.00 | 37 |
2022-02-01 | $175,000 (11.5%) | $194,586 (13.7%) | 0.00 | 33 |
2022-03-01 | $211,150 (43.4%) | $210,752 (26.9%) | 0.00 | 32 |
2022-04-01 | $177,500 (28.2%) | $201,612 (26.3%) | 0.00 | 35 |
2022-05-01 | $219,950 (58.6%) | $214,991 (37.3%) | 0.00 | 34 |
2022-06-01 | $177,450 (26.8%) | $205,970 (28.2%) | 0.00 | 43 |
2022-07-01 | $185,000 (39.6%) | $214,593 (30.3%) | 0.00 | 46 |
2022-08-01 | $171,250 (34.3%) | $198,083 (15.6%) | 0.00 | 44 |
2022-09-01 | $190,000 (34.5%) | $223,027 (16.2%) | 0.00 | 41 |
2022-10-01 | $195,000 (30.0%) | $217,907 (11.1%) | 0.00 | 50 |
2022-11-01 | $199,000 (21.7%) | $226,064 (7.5%) | 0.00 | 54 |
2022-12-01 | $199,000 (-2.3%) | $220,604 (1.6%) | 0.00 | 56 |
2023-01-01 | $185,000 (2.8%) | $210,622 (0.9%) | 0.00 | 53 |
2023-02-01 | $185,000 (5.7%) | $223,008 (14.6%) | 0.00 | 54 |
2023-03-01 | $164,950 (-21.9%) | $208,119 (-1.3%) | 0.00 | 54 |
2023-04-01 | $159,900 (-9.9%) | $198,211 (-1.7%) | 0.00 | 62 |
Magnolia's median listing price comes in at 0% of the national average.
Magnolia's average listing price for 2023-04-01 was $198,211, a difference of $-3,401 (-1.7%) versus the prior year and $-9,908 versus the prior month.
For the 2023-04-01 period, Magnolia had 62 MLS listings, a difference of 8 listings (15%) versus the prior month and 27 listings (77%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,654 sqft |
2018-02-01 | 0 days | 1,714 sqft |
2018-03-01 | 0 days | 1,739 sqft |
2018-04-01 | 0 days | 2,000 sqft |
2018-05-01 | 0 days | 2,078 sqft |
2018-06-01 | 0 days | 2,189 sqft |
2018-07-01 | 0 days | 2,129 sqft |
2018-08-01 | 0 days | 2,188 sqft |
2018-09-01 | 0 days | 2,017 sqft |
2018-10-01 | 0 days | 1,927 sqft |
2018-11-01 | 0 days | 1,792 sqft |
2018-12-01 | 0 days | 1,729 sqft |
2019-01-01 | 0 days | 1,738 sqft |
2019-02-01 | 0 days | 1,756 sqft |
2019-03-01 | 0 days | 1,924 sqft |
2019-04-01 | 0 days | 1,879 sqft |
2019-05-01 | 0 days | 1,879 sqft |
2019-06-01 | 0 days | 2,000 sqft |
2019-07-01 | 0 days | 1,938 sqft |
2019-08-01 | 0 days | 1,938 sqft |
2019-09-01 | 0 days | 1,933 sqft |
2019-10-01 | 0 days | 2,109 sqft |
2019-11-01 | 0 days | 2,109 sqft |
2019-12-01 | 0 days | 2,056 sqft |
2020-01-01 | 0 days | 1,994 sqft |
2020-02-01 | 0 days | 1,994 sqft |
2020-03-01 | 0 days | 1,987 sqft |
2020-04-01 | 0 days | 2,010 sqft |
2020-05-01 | 0 days | 2,038 sqft |
2020-06-01 | 0 days | 2,051 sqft |
2020-07-01 | 0 days | 2,051 sqft |
2020-08-01 | 0 days | 2,062 sqft |
2020-09-01 | 0 days | 2,128 sqft |
2020-10-01 | 0 days | 2,128 sqft |
2020-11-01 | 0 days | 2,062 sqft |
2020-12-01 | 0 days | 2,013 sqft |
2021-01-01 | 0 days | 2,062 sqft |
2021-02-01 | 0 days | 1,964 sqft |
2021-03-01 | 0 days | 1,963 sqft |
2021-04-01 | 0 days | 1,922 sqft |
2021-05-01 | 0 days | 2,292 sqft |
2021-06-01 | 0 days | 2,235 sqft |
2021-07-01 | 0 days | 2,002 sqft |
2021-08-01 | 0 days | 2,002 sqft |
2021-09-01 | 0 days | 2,002 sqft |
2021-10-01 | 0 days | 1,908 sqft |
2021-11-01 | 0 days | 1,917 sqft |
2021-12-01 | 0 days | 1,909 sqft |
2022-01-01 | 0 days | 1,908 sqft |
2022-02-01 | 0 days | 1,834 sqft |
2022-03-01 | 0 days | 1,834 sqft |
2022-04-01 | 0 days | 1,820 sqft |
2022-05-01 | 0 days | 1,917 sqft |
2022-06-01 | 0 days | 1,825 sqft |
2022-07-01 | 0 days | 1,968 sqft |
2022-08-01 | 0 days | 1,927 sqft |
2022-09-01 | 0 days | 2,096 sqft |
2022-10-01 | 0 days | 2,062 sqft |
2022-11-01 | 0 days | 2,030 sqft |
2022-12-01 | 0 days | 1,926 sqft |
2023-01-01 | 0 days | 1,872 sqft |
2023-02-01 | 0 days | 1,936 sqft |
2023-03-01 | 0 days | 1,933 sqft |
2023-04-01 | 0 days | 1,860 sqft |
Magnolia's median square footage for active listings during the 2023-04-01 period was 1,860 sqft. One year prior, the average listing was 1,820 sqft.
Magnolia, AR Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 170 | $30,340,000 | $178,471 |
Refi | 64 | $11,710,000 | $182,969 |
Cash Out Refi | 30 | $5,190,000 | $173,000 |
Other | 12 | $710,000 | $59,167 |
Home Improvement | 8 | $580,000 | $72,500 |
Magnolia's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 64 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 107 | $20,605,000 | $192,570 |
5-6% | 52 | $8,550,000 | $164,423 |
3-4% | 45 | $7,355,000 | $163,444 |
6-7% | 39 | $5,175,000 | $132,692 |
Over 8% | 12 | $1,100,000 | $91,667 |
7-8% | 12 | $2,130,000 | $177,500 |
2.5-3% | 9 | $2,425,000 | $269,444 |
<2.5% | 5 | $715,000 | $143,000 |
During 2022, Magnolia's most frequently originated rate bucket was 4-5%, with 107 originations.
Loan Sizing (Magnolia, AR MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 100 | $14,280,000 | $142,800 |
$100,000 or less | 92 | $5,710,000 | $62,065 |
$200k-400k | 77 | $20,275,000 | $263,312 |
$400k-600k | 10 | $4,710,000 | $471,000 |
$600k-1000k | 5 | $3,555,000 | $711,000 |
Magnolia's loan sizing saw the bucket of loans from $100k-200k with 100 originations, totaling $14,280,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 170 | $32,840,000 | $193,176 |
60-80% | 50 | $8,900,000 | $178,000 |
40-60% | 20 | $2,450,000 | $122,500 |
20-40% | 19 | $1,415,000 | $74,474 |
Under 20% | 14 | $640,000 | $45,714 |
Over 100% | 5 | $1,485,000 | $297,000 |
Magnolia's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 170 originations, totaling $32,840,000 in origination value.