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 6.37% 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%
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 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. Louis
Date 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 for 2023-04-01 was $159,900, a difference of $-17,600 (-9.9%) versus the prior year and $-5,050 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2023-04-01 was 0 days.

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.