Magnolia 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 Magnolia averaged 6.98% 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 6.92% and one month ago for the week of 2024-03-07, the average rate was 6.78%.

    Magnolia's average rate one year ago was 6.28%.

    For refis of the same type during the week of 2024-04-11, the average rate was 6.88%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-11 6.88%
    Magnolia 30 Year Fixed Rate 2024-04-11 6.98%
    Magnolia 30 Year Fixed Rate Refi 2024-04-11 6.88%
    Magnolia 15 Year Fixed Rate 2024-04-11 6.16%
    Magnolia 15 Year Fixed Rate Refi 2024-04-11 6.76%
    Magnolia 30 Year FHA 2024-04-11 6.64%
    Magnolia 30 Year FHA Refi 2024-04-11 7.04%
    Magnolia 30 Year USDA 2024-04-11 6.61%
    Magnolia 30 Year USDA Refi 2024-04-11 6.91%
    Magnolia 30 Year VA 2024-04-11 6.57%
    Magnolia 30 Year VA Refi 2024-04-11 6.47%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Magnolia, AR.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 27 6.49% $5,203
    Farm Credit Services of Western Arkansas, ACA 3 7.22% $3,816
    EVERETT FINANCIAL, INC. 3 6.62% $4,799
    21ST MORTGAGE CORPORATION 2 8.00% $5,611
    Bank of England 1 6.50% $8,121
    BROKER SOLUTIONS, INC. 1 8.13% $7,222
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.49% $2,697
    Farmers Bank & Trust Company 1 7.13% $4,444
    FirstTrust Home Loans, Inc. 1 6.99% $5,284
    JPMorgan Chase Bank 1 6.63% $3,458
    MEMBER ADVANTAGE MORTGAGE, LLC 1 6.88% $3,036
    Mortgage Research Center, LLC 1 5.75% $6,446
    PREMIA MORTGAGE, LLC 1 6.13% $8,833
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $3,848
    Simmons Bank 1 6.75% $3,668
    United Fidelity Funding Corp. 1 6.38% $2,816
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $3,977
    USAA Federal Savings Bank 1 7.00% $2,846
    ARKANSAS Federal Credit Union 1 7.50% $5,297
    BancorpSouth 1 6.63% $3,164
    Bank of America 1 6.25% $3,034

    Magnolia Average Closing Costs & Other Stats

    Magnolia, AR's 21 lenders originated 248 loans during 2023. The total origination value was $38,940,000, with an average loan value of $157,016.

    Magnolia's average closing costs are $4,621.

    The top Magnolia lender as defined by loan originations is QUICKEN LOANS, LLC, with 27 loans originated. Their average total fees are $5,203, which is $1,387 higher than the next largest lender, Farm Credit Services of Western Arkansas, ACA.

    The lowest fee Magnolia lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($5,203), .

    The lowest rate Magnolia lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.49%), .

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Farmers Bank & Trust Company $20,385,000 $11,170,000 -45.2% 28.7%
    QUICKEN LOANS, LLC $9,710,000 $7,460,000 -23.2% 19.2%
    21ST MORTGAGE CORPORATION $1,000,000 $2,540,000 154.0% 6.5%
    BancorpSouth $2,695,000 $1,570,000 -41.7% 4.0%
    Mortgage Research Center, LLC $1,970,000 $935,000 -52.5% 2.4%
    EVERETT FINANCIAL, INC. $950,000 $920,000 -3.2% 2.4%
    Grandview Bank $865,000 n/a 2.2%
    TRIAD FINANCIAL SERVICES, INC. $395,000 $855,000 116.5% 2.2%
    Farm Credit Services of Western Arkansas, ACA $685,000 $780,000 13.9% 2.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $180,000 $720,000 300.0% 1.8%
    UNITED WHOLESALE MORTGAGE, LLC $500,000 $635,000 27.0% 1.6%
    FirstTrust Home Loans, Inc. $935,000 $615,000 -34.2% 1.6%
    PREMIA MORTGAGE, LLC $605,000 n/a 1.6%
    NEWREZ LLC $45,000 $565,000 1,155.6% 1.5%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $650,000 $525,000 -19.2% 1.3%
    Bank of England $390,000 n/a 1.0%
    BROKER SOLUTIONS, INC. $380,000 n/a 1.0%
    USAA Federal Savings Bank $310,000 n/a 0.8%
    UNITED BUILT HOMES, L.L.C. $265,000 n/a 0.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $245,000 n/a 0.6%
    Bank of America $230,000 n/a 0.6%
    GENEVA FINANCIAL, LLC $385,000 $215,000 -44.2% 0.6%
    MEMBER ADVANTAGE MORTGAGE, LLC $85,000 $195,000 129.4% 0.5%
    SOUTHWEST STAGE FUNDING, LLC $195,000 n/a 0.5%
    CROSSCOUNTRY MORTGAGE, LLC $185,000 n/a 0.5%
    FINANCE OF AMERICA REVERSE LLC $180,000 n/a 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $180,000 n/a 0.5%
    FOUR POINTS $175,000 n/a 0.4%
    LIBERTY HOME MORTGAGE CORPORATION $165,000 n/a 0.4%
    ARKANSAS Federal Credit Union $25,000 $155,000 520.0% 0.4%
    JPMorgan Chase Bank $145,000 $155,000 6.9% 0.4%
    NAVY FEDERAL CREDIT UNION $255,000 $155,000 -39.2% 0.4%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $155,000 n/a 0.4%
    CSL Financial, LLC $200,000 $150,000 -25.0% 0.4%
    HOMESTAR FINANCIAL CORPORATION $135,000 n/a 0.3%
    The Citizens Bank $135,000 n/a 0.3%
    United Fidelity Funding Corp. $115,000 n/a 0.3%
    First Financial Bank $105,000 n/a 0.3%
    Wells Fargo Bank $350,000 $95,000 -72.9% 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $75,000 n/a 0.2%
    Arvest Bank $110,000 $75,000 -31.8% 0.2%
    ROYAL UNITED MORTGAGE LLC $75,000 n/a 0.2%
    CIS Financial Services, Inc. $65,000 n/a 0.2%
    Discover Bank $65,000 n/a 0.2%
    Simmons Bank $65,000 n/a 0.2%
    SUPERIOR CHOICE $65,000 n/a 0.2%
    RED RIVER EMPLOYEES $35,000 n/a 0.1%

    Magnolia's top lender by overall market share is Farmers Bank & Trust Company, with 28.7% market share. In second place, with 19.2%, is QUICKEN LOANS, LLC, having originated $7,460,000 in loans. In third place, with 6.5%, is 21ST MORTGAGE CORPORATION, having originated $2,540,000 in loans. In fourth place, with 4.0%, is BancorpSouth, having originated $1,570,000 in loans. In fifth place, with 2.4%, is Mortgage Research Center, LLC, having originated $935,000 in loans.

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

    Realtor.com - Magnolia (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 $119,900 (1.4%) $141,325 (-11.6%) 0.00 139
    2018-02-01 $115,000 (-1.7%) $139,149 (-10.6%) 0.00 136
    2018-03-01 $120,000 (3.5%) $137,608 (-13.0%) 0.00 129
    2018-04-01 $143,450 (22.6%) $149,074 (-3.8%) 0.00 128
    2018-05-01 $149,450 (24.7%) $155,873 (0.2%) 0.00 126
    2018-06-01 $137,400 (6.8%) $148,124 (-2.9%) 0.00 127
    2018-07-01 $127,450 (-8.6%) $141,064 (-9.4%) 0.00 107
    2018-08-01 $132,425 (-3.5%) $145,605 (-4.9%) 0.00 107
    2018-09-01 $129,900 (-6.6%) $145,944 (-7.0%) 0.00 108
    2018-10-01 $135,000 (3.9%) $149,079 (-2.0%) 0.00 118
    2018-11-01 $141,225 (8.7%) $152,515 (0.3%) 0.00 114
    2018-12-01 $149,000 (16.9%) $155,058 (4.8%) 0.00 117
    2019-01-01 $149,675 (24.8%) $156,941 (11.1%) 0.00 112
    2019-02-01 $149,675 (30.2%) $153,520 (10.3%) 0.00 114
    2019-03-01 $147,607 (23.0%) $156,015 (13.4%) 0.00 109
    2019-04-01 $145,982 (1.8%) $161,120 (8.1%) 0.00 107
    2019-05-01 $149,450 (0.0%) $161,723 (3.8%) 0.00 112
    2019-06-01 $148,000 (7.7%) $162,372 (9.6%) 0.00 121
    2019-07-01 $139,700 (9.6%) $159,291 (12.9%) 0.00 132
    2019-08-01 $139,609 (5.4%) $161,786 (11.1%) 0.00 129
    2019-09-01 $139,773 (7.6%) $165,859 (13.7%) 0.00 126
    2019-10-01 $139,900 (3.6%) $169,401 (13.6%) 0.00 124
    2019-11-01 $144,900 (2.6%) $174,550 (14.5%) 0.00 112
    2019-12-01 $145,200 (-2.6%) $172,731 (11.4%) 0.00 112
    2020-01-01 $152,000 (1.6%) $179,419 (14.3%) 0.00 107
    2020-02-01 $149,000 (-0.5%) $178,006 (16.0%) 0.00 115
    2020-03-01 $146,375 (-0.8%) $179,780 (15.2%) 0.00 114
    2020-04-01 $152,400 (4.4%) $185,275 (15.0%) 0.00 111
    2020-05-01 $175,000 (17.1%) $192,501 (19.0%) 0.00 110
    2020-06-01 $167,850 (13.4%) $191,094 (17.7%) 0.00 103
    2020-07-01 $159,875 (14.4%) $186,519 (17.1%) 0.00 96
    2020-08-01 $169,900 (21.7%) $191,357 (18.3%) 0.00 86
    2020-09-01 $169,750 (21.5%) $191,854 (15.7%) 0.00 75
    2020-10-01 $169,000 (20.8%) $184,401 (8.9%) 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%) $216,839 (10.5%) 0.00 49
    2022-11-01 $198,000 (21.1%) $225,364 (7.2%) 0.00 53
    2022-12-01 $199,000 (-2.3%) $219,783 (1.2%) 0.00 55
    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
    2023-05-01 $187,450 (-14.8%) $229,596 (6.8%) 0.00 63
    2023-06-01 $205,725 (15.9%) $247,945 (20.4%) 0.00 58
    2023-07-01 $215,000 (16.2%) $250,896 (16.9%) 0.00 57
    2023-08-01 $220,750 (28.9%) $254,379 (28.4%) 0.00 61
    2023-09-01 $219,900 (15.7%) $263,358 (18.1%) 0.00 71
    2023-10-01 $219,975 (12.8%) $268,725 (23.9%) 0.00 87
    2023-11-01 $219,450 (10.8%) $261,728 (16.1%) 0.00 68
    2023-12-01 $210,000 (5.5%) $251,880 (14.6%) 0.00 62
    2024-01-01 $194,675 (5.2%) $244,984 (16.3%) 0.00 58
    2024-02-01 $202,200 (9.3%) $254,296 (14.0%) 0.00 56
    2024-03-01 $195,250 (18.4%) $220,373 (5.9%) 0.00 66
    Magnolia's median listing price for 2024-03-01 was $195,250, a difference of $30,300 (18.4%) versus the prior year and $-6,950 versus the prior month.

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

    Magnolia's average listing price for 2024-03-01 was $220,373, a difference of $12,254 (5.9%) versus the prior year and $-33,923 versus the prior month.

    For the 2024-03-01 period, Magnolia had 66 MLS listings, a difference of 10 listings (18%) versus the prior month and 12 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,730 sqft
    2018-02-01 0 days 1,730 sqft
    2018-03-01 0 days 1,739 sqft
    2018-04-01 0 days 1,974 sqft
    2018-05-01 0 days 2,078 sqft
    2018-06-01 0 days 2,189 sqft
    2018-07-01 0 days 2,149 sqft
    2018-08-01 0 days 2,189 sqft
    2018-09-01 0 days 2,149 sqft
    2018-10-01 0 days 2,033 sqft
    2018-11-01 0 days 1,884 sqft
    2018-12-01 0 days 1,738 sqft
    2019-01-01 0 days 1,738 sqft
    2019-02-01 0 days 1,752 sqft
    2019-03-01 0 days 1,723 sqft
    2019-04-01 0 days 1,758 sqft
    2019-05-01 0 days 1,841 sqft
    2019-06-01 0 days 2,000 sqft
    2019-07-01 0 days 1,839 sqft
    2019-08-01 0 days 1,951 sqft
    2019-09-01 0 days 2,062 sqft
    2019-10-01 0 days 2,135 sqft
    2019-11-01 0 days 2,086 sqft
    2019-12-01 0 days 2,044 sqft
    2020-01-01 0 days 1,950 sqft
    2020-02-01 0 days 1,950 sqft
    2020-03-01 0 days 1,962 sqft
    2020-04-01 0 days 1,999 sqft
    2020-05-01 0 days 2,019 sqft
    2020-06-01 0 days 2,040 sqft
    2020-07-01 0 days 2,040 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 2,013 sqft
    2020-12-01 0 days 2,013 sqft
    2021-01-01 0 days 2,062 sqft
    2021-02-01 0 days 1,866 sqft
    2021-03-01 0 days 2,010 sqft
    2021-04-01 0 days 1,915 sqft
    2021-05-01 0 days 2,338 sqft
    2021-06-01 0 days 2,315 sqft
    2021-07-01 0 days 1,971 sqft
    2021-08-01 0 days 1,956 sqft
    2021-09-01 0 days 2,062 sqft
    2021-10-01 0 days 1,894 sqft
    2021-11-01 0 days 1,905 sqft
    2021-12-01 0 days 1,902 sqft
    2022-01-01 0 days 1,896 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 2,039 sqft
    2022-11-01 0 days 2,009 sqft
    2022-12-01 0 days 1,903 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
    2023-05-01 0 days 1,928 sqft
    2023-06-01 0 days 1,967 sqft
    2023-07-01 0 days 1,963 sqft
    2023-08-01 0 days 1,956 sqft
    2023-09-01 0 days 1,934 sqft
    2023-10-01 0 days 1,971 sqft
    2023-11-01 0 days 1,983 sqft
    2023-12-01 0 days 1,989 sqft
    2024-01-01 0 days 1,997 sqft
    2024-02-01 0 days 2,108 sqft
    2024-03-01 0 days 1,955 sqft
    Magnolia's median listing age (time on market) for 2024-03-01 was 0 days.

    Magnolia's median square footage for active listings during the 2024-03-01 period was 1,955 sqft. One year prior, the average listing was 1,933 sqft.

    Magnolia, AR Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 170 $30,230,000 $177,824
    Refi 35 $4,765,000 $136,143
    Cash Out Refi 15 $1,995,000 $133,000
    Home Improvement 14 $930,000 $66,429
    Other 14 $1,020,000 $72,857

    Magnolia's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 35 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    Over 8% 81 $9,405,000 $116,111
    6-7% 64 $10,470,000 $163,594
    7-8% 58 $10,560,000 $182,069
    5-6% 22 $3,880,000 $176,364
    4-5% 5 $765,000 $153,000

    During 2023, Magnolia's most frequently originated rate bucket was Over 8%, with 81 originations.

    Loan Sizing (Magnolia, AR MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 104 $15,230,000 $146,442
    $100,000 or less 93 $5,725,000 $61,559
    $200k-400k 41 $10,785,000 $263,049
    $400k-600k 5 $2,275,000 $455,000
    $600k-1000k 3 $2,155,000 $718,333
    $Over $1MM 2 $2,770,000 $1,385,000

    Magnolia's loan sizing saw the bucket of loans from $100k-200k with 104 originations, totaling $15,230,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 127 $24,285,000 $191,220
    60-80% 45 $6,215,000 $138,111
    40-60% 21 $2,305,000 $109,762
    20-40% 17 $1,335,000 $78,529
    Under 20% 16 $610,000 $38,125
    Over 100% 2 $180,000 $90,000

    Magnolia's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 127 originations, totaling $24,285,000 in origination value.