Magnolia Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Magnolia averaged 6.32% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 5.92% and one month ago for the week of 2024-09-05, the average rate was 6.45%.

Magnolia's average rate one year ago was 7.69%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.72%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Magnolia 30 Year Fixed Rate 2024-10-10 6.32%
Magnolia 30 Year Fixed Rate Refi 2024-10-10 6.72%
Magnolia 15 Year Fixed Rate 2024-10-10 5.41%
Magnolia 15 Year Fixed Rate Refi 2024-10-10 5.91%
Magnolia 30 Year FHA 2024-10-10 6.3%
Magnolia 30 Year FHA Refi 2024-10-10 6.1%
Magnolia 30 Year USDA 2024-10-10 6.08%
Magnolia 30 Year USDA Refi 2024-10-10 5.98%
Magnolia 30 Year VA 2024-10-10 5.95%
Magnolia 30 Year VA Refi 2024-10-10 5.85%
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
2024-04-01 $197,675 (23.6%) $231,497 (16.8%) 0.00 66
2024-05-01 $199,950 (6.7%) $275,182 (19.9%) 0.00 62
2024-06-01 $209,500 (1.8%) $277,723 (12.0%) 0.00 58
2024-07-01 $202,750 (-5.7%) $273,232 (8.9%) 0.00 61
2024-08-01 $225,000 (1.9%) $297,358 (16.9%) 0.00 74
2024-09-01 $233,900 (6.4%) $305,273 (15.9%) 0.00 70
Magnolia's median listing price for 2024-09-01 was $233,900, a difference of $14,000 (6.4%) versus the prior year and $8,900 versus the prior month.

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

Magnolia's average listing price for 2024-09-01 was $305,273, a difference of $41,915 (15.9%) versus the prior year and $7,915 versus the prior month.

For the 2024-09-01 period, Magnolia had 70 MLS listings, a difference of -4 listings (-5%) versus the prior month and -1 listings (-1%) 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
2024-04-01 0 days 2,048 sqft
2024-05-01 0 days 2,064 sqft
2024-06-01 0 days 2,061 sqft
2024-07-01 0 days 1,985 sqft
2024-08-01 0 days 2,010 sqft
2024-09-01 0 days 2,134 sqft
Magnolia's median listing age (time on market) for 2024-09-01 was 0 days.

Magnolia's median square footage for active listings during the 2024-09-01 period was 2,134 sqft. One year prior, the average listing was 1,934 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.