Marquette Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Marquette averaged
6.35%
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
6.47% and
one month ago for the week of 2023-04-20, the
average rate was 6.37%.
Marquette's average rate one year ago was 5.13%.
For refis of the same type during the week of 2023-05-25, the average rate
was 7.17%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
Marquette 30 Year Fixed Rate | 2023-05-25 | 6.35% |
Marquette 30 Year Fixed Rate Refi | 2023-05-25 | 7.17% |
Marquette 15 Year Fixed Rate | 2023-05-25 | 6.17% |
Marquette 15 Year Fixed Rate Refi | 2023-05-25 | 6.27% |
Marquette 30 Year FHA | 2023-05-25 | 6.41% |
Marquette 30 Year FHA Refi | 2023-05-25 | 6.71% |
Marquette 30 Year USDA | 2023-05-25 | 6.43% |
Marquette 30 Year USDA Refi | 2023-05-25 | 6.53% |
Marquette 30 Year VA | 2023-05-25 | 6.21% |
Marquette 30 Year VA Refi | 2023-05-25 | 6.51% |
Marquette 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 Marquette, MI 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.).
Marquette Average Closing Costs & Other Stats
Marquette, MI's 72 lenders originated 1,194
loans during 2022. The total origination value was $223,490,000, with an average loan value of
$187,178.
Marquette's average closing costs are $3,288.
The top Marquette lender as defined by loan originations is Range Bank, with
108 loans originated. Their average total fees are
$3,955, which is $1,452
higher than the next largest lender,
IncredibleBank.
The lowest fee Marquette lenders (with over 10 loans originated) are
IncredibleBank ($2,502), Honor Credit Union ($2,542), Nicolet National Bank ($3,047), The Huntington National Bank ($3,363) and Flagstar Bank, FSB ($3,373).
The lowest rate Marquette lenders (with over 10 loans originated) are
Honor Credit Union (4.32%), The Huntington National Bank (4.80%), Nicolet National Bank (4.87%), MICHIGAN MUTUAL, INC. (4.90%) and Range Bank (5.05%).
Marquette, MI 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 |
---|---|---|---|---|
Range Bank | $70,445,000 | $34,185,000 | -51.5% | 15.3% |
IncredibleBank | $57,340,000 | $32,520,000 | -43.3% | 14.6% |
Nicolet National Bank | $6,430,000 | $28,415,000 | 341.9% | 12.7% |
Honor Credit Union | $23,575,000 | $15,965,000 | -32.3% | 7.1% |
QUICKEN LOANS, LLC | $34,415,000 | $15,690,000 | -54.4% | 7.0% |
GREYSTONE SERVICING COMPANY LLC | $7,315,000 | $12,355,000 | 68.9% | 5.5% |
Flagstar Bank, FSB | $12,210,000 | $9,355,000 | -23.4% | 4.2% |
The Huntington National Bank | $8,765,000 | $8,320,000 | -5.1% | 3.7% |
UNITED WHOLESALE MORTGAGE, LLC | $10,930,000 | $7,745,000 | -29.1% | 3.5% |
Wells Fargo Bank | $11,600,000 | $4,850,000 | -58.2% | 2.2% |
Mortgage Research Center, LLC | $4,950,000 | $4,340,000 | -12.3% | 1.9% |
MICHIGAN MUTUAL, INC. | $3,395,000 | $4,010,000 | 18.1% | 1.8% |
LAKE MICHIGAN CREDIT UNION | $1,705,000 | $3,235,000 | 89.7% | 1.4% |
HOME POINT FINANCIAL CORPORATION | $4,245,000 | $3,075,000 | -27.6% | 1.4% |
JPMorgan Chase Bank | $2,830,000 | $2,345,000 | -17.1% | 1.0% |
Grandbridge Real Estate Capital LLC | $1,805,000 | n/a | 0.8% | |
FREEDOM MORTGAGE CORPORATION | $5,585,000 | $1,655,000 | -70.4% | 0.7% |
USAA Federal Savings Bank | $645,000 | $1,600,000 | 148.1% | 0.7% |
NAVY FEDERAL CREDIT UNION | $1,875,000 | $1,285,000 | -31.5% | 0.6% |
Associated Bank | $1,160,000 | $1,055,000 | -9.1% | 0.5% |
NEW DAY FINANCIAL, LLC | $1,140,000 | $870,000 | -23.7% | 0.4% |
LAKEVIEW LOAN SERVICING, LLC | $1,090,000 | $820,000 | -24.8% | 0.4% |
PNC Bank | $815,000 | $805,000 | -1.2% | 0.4% |
MORTGAGE 1 INCORPORATED | $175,000 | $760,000 | 334.3% | 0.3% |
BETTER MORTGAGE CORPORATION | $2,165,000 | $755,000 | -65.1% | 0.3% |
Morgan Stanley Private Bank | $355,000 | $735,000 | 107.0% | 0.3% |
CMG MORTGAGE, INC. | $335,000 | $730,000 | 117.9% | 0.3% |
U.S. Bank | $920,000 | $665,000 | -27.7% | 0.3% |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $575,000 | $645,000 | 12.2% | 0.3% |
BROKER SOLUTIONS, INC. | $750,000 | $640,000 | -14.7% | 0.3% |
The Dart Bank | $635,000 | n/a | 0.3% | |
Old National Bank | $620,000 | n/a | 0.3% | |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $490,000 | $595,000 | 21.4% | 0.3% |
Capital Bank | $565,000 | n/a | 0.3% | |
Fifth Third Bank | $485,000 | $565,000 | 16.5% | 0.3% |
Ally Bank | $350,000 | $555,000 | 58.6% | 0.2% |
Bank of England | $335,000 | $545,000 | 62.7% | 0.2% |
PENTAGON FEDERAL CREDIT UNION | $330,000 | $520,000 | 57.6% | 0.2% |
AMERISAVE MORTGAGE CORPORATION | $2,150,000 | $455,000 | -78.8% | 0.2% |
MOVEMENT MORTGAGE, LLC | $145,000 | $455,000 | 213.8% | 0.2% |
UNIVERSITY LENDING GROUP, LLC | $185,000 | $455,000 | 145.9% | 0.2% |
MEMBER ADVANTAGE MORTGAGE, LLC | $1,000,000 | $440,000 | -56.0% | 0.2% |
SUCCESS MORTGAGE PARTNERS, INC. | $245,000 | $440,000 | 79.6% | 0.2% |
COMPASS MORTGAGE, INC. | $460,000 | $400,000 | -13.0% | 0.2% |
LOANDEPOT.COM, LLC | $3,385,000 | $390,000 | -88.5% | 0.2% |
Northpointe Bank | $385,000 | n/a | 0.2% | |
American Airlines Federal Credit Union | $375,000 | n/a | 0.2% | |
The Central Trust Bank | $355,000 | n/a | 0.2% | |
The Stephenson National Bank and Trust | $445,000 | $350,000 | -21.3% | 0.2% |
DUPACO COMMUNITY | $325,000 | n/a | 0.1% | |
Ixonia Bank | $325,000 | n/a | 0.1% | |
American Bank & Trust | $315,000 | n/a | 0.1% | |
Powell Valley National Bank | $315,000 | n/a | 0.1% | |
UNITED | $315,000 | n/a | 0.1% | |
CALIBER HOME LOANS, INC. | $555,000 | $310,000 | -44.1% | 0.1% |
Citizens Bank | $530,000 | $310,000 | -41.5% | 0.1% |
PENNYMAC LOAN SERVICES, LLC | $1,640,000 | $305,000 | -81.4% | 0.1% |
Carrington Mortgage Services, LLC | $300,000 | n/a | 0.1% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,065,000 | $295,000 | -72.3% | 0.1% |
BMO Harris Bank | $290,000 | n/a | 0.1% | |
American Mortgage & Equity Consultants, Inc. | $275,000 | n/a | 0.1% | |
The Federal Savings Bank | $740,000 | $275,000 | -62.8% | 0.1% |
VILLAGE CAPITAL MORTGAGE | $230,000 | $270,000 | 17.4% | 0.1% |
MICHIGAN SCHOOLS AND GOVERNMENT | $260,000 | n/a | 0.1% | |
DRAPER AND KRAMER MORTGAGE CORP. | $255,000 | n/a | 0.1% | |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $255,000 | n/a | 0.1% | |
MICHIGAN FIRST CREDIT UNION | $255,000 | n/a | 0.1% | |
The State Bank | $235,000 | n/a | 0.1% | |
AMERICAN ADVISORS GROUP | $65,000 | $230,000 | 253.8% | 0.1% |
Mr. Cooper ( Nationstar Mortgage ) | $565,000 | $230,000 | -59.3% | 0.1% |
AMERIFIRST FINANCIAL CORPORATION | $140,000 | $225,000 | 60.7% | 0.1% |
CHURCHILL MORTGAGE CORPORATION | $375,000 | $220,000 | -41.3% | 0.1% |
CONSUMERS | $115,000 | $215,000 | 87.0% | 0.1% |
AMERICAN FINANCING CORPORATION | $55,000 | $210,000 | 281.8% | 0.1% |
DIGITAL Federal Credit Union | $205,000 | n/a | 0.1% | |
Neighborhood Loans, Inc. | $360,000 | $205,000 | -43.1% | 0.1% |
MID AMERICA MORTGAGE, INC. | $200,000 | n/a | 0.1% | |
Bank of America | $195,000 | n/a | 0.1% | |
MICHIGAN ONE COMMUNITY Credit Union | $185,000 | n/a | 0.1% | |
NEWREZ LLC | $685,000 | $180,000 | -73.7% | 0.1% |
ALLIANT CREDIT UNION | $175,000 | n/a | 0.1% | |
EVERETT FINANCIAL, INC. | $175,000 | n/a | 0.1% | |
Johnson Bank | $175,000 | n/a | 0.1% | |
University Bank | $175,000 | n/a | 0.1% | |
GreenStone Farm Credit Services, FLCA | $1,445,000 | $170,000 | -88.2% | 0.1% |
HOMESIDE FINANCIAL, LLC | $170,000 | n/a | 0.1% | |
CITIZENS EQUITY FIRST | $165,000 | n/a | 0.1% | |
DOW CHEMICAL EMPLOYEES' | $390,000 | $165,000 | -57.7% | 0.1% |
Frankenmuth Credit Union | $155,000 | n/a | 0.1% | |
ZILLOW HOME LOANS, LLC | $175,000 | $155,000 | -11.4% | 0.1% |
Bank of Pontiac | $145,000 | n/a | 0.1% | |
Bethpage Federal Credit Union | $145,000 | n/a | 0.1% | |
Arvest Bank | $135,000 | n/a | 0.1% | |
FOX COMMUNITIES | $515,000 | $125,000 | -75.7% | 0.1% |
M&T Bank | $245,000 | $125,000 | -49.0% | 0.1% |
CoVantage Credit Union | $45,000 | $120,000 | 166.7% | 0.1% |
CREDIT UNION ONE | $185,000 | $115,000 | -37.8% | 0.1% |
GUILD MORTGAGE COMPANY | $115,000 | n/a | 0.1% | |
AMERICAN PORTFOLIO MORTGAGE CORPORATION | $460,000 | $105,000 | -77.2% | 0.0% |
GUARANTEED RATE AFFINITY, LLC | $335,000 | $105,000 | -68.7% | 0.0% |
THRIVENT Federal Credit Union | $105,000 | n/a | 0.0% | |
United Bay Community Credit Union | $105,000 | n/a | 0.0% | |
Figure Lending LLC | $35,000 | $80,000 | 128.6% | 0.0% |
SPRING EQ, LLC | $80,000 | n/a | 0.0% | |
ARBOR FINANCIAL CREDIT UNION | $75,000 | n/a | 0.0% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $205,000 | $75,000 | -63.4% | 0.0% |
ROYAL UNITED MORTGAGE LLC | $75,000 | $65,000 | -13.3% | 0.0% |
Discover Bank | $190,000 | $55,000 | -71.1% | 0.0% |
GENISYS | $55,000 | n/a | 0.0% | |
LONGBRIDGE FINANCIAL, LLC | $55,000 | n/a | 0.0% | |
Northstar Bank | $45,000 | n/a | 0.0% | |
21ST MORTGAGE CORPORATION | $270,000 | $35,000 | -87.0% | 0.0% |
Marquette's top lender by overall market share is Range Bank, with 15.3% market share. In second place, with 14.6%, is IncredibleBank, having originated $32,520,000 in loans. In third place, with 12.7%, is Nicolet National Bank, having originated $28,415,000 in loans. In fourth place, with 7.1%, is Honor Credit Union, having originated $15,965,000 in loans. In fifth place, with 7.0%, is QUICKEN LOANS, LLC, having originated $15,690,000 in loans.
Marquette Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Marquette (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 | $169,650 (13.3%) | $396,051 (69.2%) | 0.00 | 353 |
2018-02-01 | $174,975 (12.9%) | $425,851 (79.8%) | 0.00 | 323 |
2018-03-01 | $178,200 (11.4%) | $429,962 (80.3%) | 0.00 | 328 |
2018-04-01 | $182,200 (7.2%) | $425,791 (64.8%) | 0.00 | 338 |
2018-05-01 | $189,900 (9.1%) | $417,372 (65.5%) | 0.00 | 366 |
2018-06-01 | $185,000 (8.9%) | $377,558 (52.0%) | 0.00 | 420 |
2018-07-01 | $189,700 (11.7%) | $368,078 (46.9%) | 0.00 | 451 |
2018-08-01 | $189,900 (11.4%) | $348,670 (40.3%) | 0.00 | 464 |
2018-09-01 | $183,500 (11.3%) | $372,538 (30.2%) | 0.00 | 475 |
2018-10-01 | $186,950 (13.4%) | $377,096 (23.6%) | 0.00 | 452 |
2018-11-01 | $182,600 (14.2%) | $385,173 (11.6%) | 0.00 | 419 |
2018-12-01 | $189,900 (18.8%) | $408,631 (13.0%) | 0.00 | 365 |
2019-01-01 | $187,000 (10.2%) | $435,311 (9.9%) | 0.00 | 307 |
2019-02-01 | $184,450 (5.4%) | $447,296 (5.0%) | 0.00 | 296 |
2019-03-01 | $189,900 (8.8%) | $323,635 (-24.7%) | 0.00 | 286 |
2019-04-01 | $199,825 (9.7%) | $344,314 (-19.1%) | 0.00 | 274 |
2019-05-01 | $204,950 (7.8%) | $340,237 (-18.5%) | 0.00 | 290 |
2019-06-01 | $209,900 (10.8%) | $318,607 (-15.6%) | 0.00 | 364 |
2019-07-01 | $199,450 (5.1%) | $302,604 (-17.8%) | 0.00 | 390 |
2019-08-01 | $199,000 (0.5%) | $293,405 (-15.9%) | 0.00 | 409 |
2019-09-01 | $189,325 (2.2%) | $289,473 (-22.3%) | 0.00 | 410 |
2019-10-01 | $185,425 (-1.1%) | $282,803 (-25.0%) | 0.00 | 420 |
2019-11-01 | $178,800 (-2.1%) | $251,205 (-34.8%) | 0.00 | 379 |
2019-12-01 | $179,450 (-5.5%) | $260,722 (-36.2%) | 0.00 | 323 |
2020-01-01 | $177,600 (-5.0%) | $257,327 (-40.9%) | 0.00 | 263 |
2020-02-01 | $189,700 (2.9%) | $297,853 (-33.4%) | 0.00 | 246 |
2020-03-01 | $189,825 (-2.1%) | $313,160 (-3.2%) | 0.00 | 227 |
2020-04-01 | $202,300 (1.2%) | $319,767 (-7.1%) | 0.00 | 224 |
2020-05-01 | $213,500 (4.3%) | $311,411 (-8.5%) | 0.00 | 232 |
2020-06-01 | $199,900 (-2.5%) | $352,669 (10.7%) | 0.00 | 240 |
2020-07-01 | $222,500 (11.6%) | $368,932 (21.9%) | 0.00 | 233 |
2020-08-01 | $214,000 (12.2%) | $337,183 (14.9%) | 0.00 | 221 |
2020-09-01 | $197,450 (5.3%) | $345,684 (19.4%) | 0.00 | 206 |
2020-10-01 | $184,950 (0.0%) | $346,604 (22.6%) | 0.00 | 188 |
2020-11-01 | $178,800 (0.0%) | $319,634 (27.2%) | 0.00 | 175 |
2020-12-01 | $181,700 (1.3%) | $325,355 (24.8%) | 0.00 | 151 |
2021-01-01 | $189,000 (6.4%) | $347,878 (35.2%) | 0.00 | 123 |
2021-02-01 | $197,675 (4.2%) | $399,388 (34.1%) | 0.00 | 105 |
2021-03-01 | $216,125 (13.9%) | $388,963 (24.2%) | 0.00 | 120 |
2021-04-01 | $214,000 (5.8%) | $428,295 (33.9%) | 0.00 | 111 |
2021-05-01 | $230,000 (7.7%) | $406,633 (30.6%) | 0.00 | 132 |
2021-06-01 | $240,975 (20.6%) | $407,639 (15.6%) | 0.00 | 146 |
2021-07-01 | $238,700 (7.3%) | $405,703 (10.0%) | 0.00 | 146 |
2021-08-01 | $238,725 (11.6%) | $421,872 (25.1%) | 0.00 | 143 |
2021-09-01 | $259,900 (31.6%) | $434,548 (25.7%) | 0.00 | 124 |
2021-10-01 | $244,900 (32.4%) | $437,967 (26.4%) | 0.00 | 107 |
2021-11-01 | $221,175 (23.7%) | $455,753 (42.6%) | 0.00 | 80 |
2021-12-01 | $183,700 (1.1%) | $425,991 (30.9%) | 0.00 | 76 |
2022-01-01 | $188,500 (-0.3%) | $458,198 (31.7%) | 0.00 | 62 |
2022-02-01 | $229,725 (16.2%) | $491,795 (23.1%) | 0.00 | 61 |
2022-03-01 | $265,000 (22.6%) | $559,771 (43.9%) | 0.00 | 47 |
2022-04-01 | $219,900 (2.8%) | $531,331 (24.1%) | 0.00 | 50 |
2022-05-01 | $212,000 (-7.8%) | $297,324 (-26.9%) | 0.00 | 66 |
2022-06-01 | $239,925 (-0.4%) | $372,334 (-8.7%) | 0.00 | 91 |
2022-07-01 | $244,900 (2.6%) | $378,978 (-6.6%) | 0.00 | 116 |
2022-08-01 | $254,925 (6.8%) | $396,903 (-5.9%) | 0.00 | 125 |
2022-09-01 | $249,750 (-3.9%) | $406,180 (-6.5%) | 0.00 | 120 |
2022-10-01 | $265,000 (8.2%) | $431,068 (-1.6%) | 0.00 | 107 |
2022-11-01 | $267,500 (20.9%) | $427,531 (-6.2%) | 0.00 | 93 |
2022-12-01 | $272,500 (48.3%) | $445,368 (4.6%) | 0.00 | 74 |
2023-01-01 | $255,750 (35.7%) | $450,665 (-1.6%) | 0.00 | 69 |
2023-02-01 | $264,000 (14.9%) | $480,578 (-2.3%) | 0.00 | 52 |
2023-03-01 | $316,475 (19.4%) | $507,234 (-9.4%) | 0.00 | 46 |
2023-04-01 | $294,500 (0.0%) | $525,809 (-1.0%) | 0.00 | 47 |
Marquette's median listing price comes in at 0% of the national average.
Marquette's average listing price for 2023-04-01 was $525,809, a difference of $-5,522 (-1.0%) versus the prior year and $18,575 versus the prior month.
For the 2023-04-01 period, Marquette had 47 MLS listings, a difference of 1 listings (2%) versus the prior month and -3 listings (-6%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Marquette (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,605 sqft |
2018-02-01 | 0 days | 1,617 sqft |
2018-03-01 | 0 days | 1,596 sqft |
2018-04-01 | 0 days | 1,596 sqft |
2018-05-01 | 0 days | 1,564 sqft |
2018-06-01 | 0 days | 1,520 sqft |
2018-07-01 | 0 days | 1,507 sqft |
2018-08-01 | 0 days | 1,535 sqft |
2018-09-01 | 0 days | 1,525 sqft |
2018-10-01 | 0 days | 1,518 sqft |
2018-11-01 | 0 days | 1,488 sqft |
2018-12-01 | 0 days | 1,486 sqft |
2019-01-01 | 0 days | 1,461 sqft |
2019-02-01 | 0 days | 1,456 sqft |
2019-03-01 | 0 days | 1,461 sqft |
2019-04-01 | 0 days | 1,483 sqft |
2019-05-01 | 0 days | 1,497 sqft |
2019-06-01 | 0 days | 1,560 sqft |
2019-07-01 | 0 days | 1,532 sqft |
2019-08-01 | 0 days | 1,582 sqft |
2019-09-01 | 0 days | 1,583 sqft |
2019-10-01 | 0 days | 1,576 sqft |
2019-11-01 | 0 days | 1,533 sqft |
2019-12-01 | 0 days | 1,559 sqft |
2020-01-01 | 0 days | 1,539 sqft |
2020-02-01 | 0 days | 1,556 sqft |
2020-03-01 | 0 days | 1,504 sqft |
2020-04-01 | 0 days | 1,496 sqft |
2020-05-01 | 0 days | 1,494 sqft |
2020-06-01 | 0 days | 1,469 sqft |
2020-07-01 | 0 days | 1,494 sqft |
2020-08-01 | 0 days | 1,467 sqft |
2020-09-01 | 0 days | 1,420 sqft |
2020-10-01 | 0 days | 1,355 sqft |
2020-11-01 | 0 days | 1,335 sqft |
2020-12-01 | 0 days | 1,334 sqft |
2021-01-01 | 0 days | 1,368 sqft |
2021-02-01 | 0 days | 1,471 sqft |
2021-03-01 | 0 days | 1,560 sqft |
2021-04-01 | 0 days | 1,560 sqft |
2021-05-01 | 0 days | 1,560 sqft |
2021-06-01 | 0 days | 1,560 sqft |
2021-07-01 | 0 days | 1,560 sqft |
2021-08-01 | 0 days | 1,560 sqft |
2021-09-01 | 0 days | 1,560 sqft |
2021-10-01 | 0 days | 1,540 sqft |
2021-11-01 | 0 days | 1,530 sqft |
2021-12-01 | 0 days | 1,312 sqft |
2022-01-01 | 0 days | 1,312 sqft |
2022-02-01 | 0 days | 1,436 sqft |
2022-03-01 | 0 days | 1,363 sqft |
2022-04-01 | 0 days | 1,400 sqft |
2022-05-01 | 0 days | 1,384 sqft |
2022-06-01 | 0 days | 1,529 sqft |
2022-07-01 | 0 days | 1,487 sqft |
2022-08-01 | 0 days | 1,595 sqft |
2022-09-01 | 0 days | 1,471 sqft |
2022-10-01 | 0 days | 1,354 sqft |
2022-11-01 | 0 days | 1,421 sqft |
2022-12-01 | 0 days | 1,350 sqft |
2023-01-01 | 0 days | 1,279 sqft |
2023-02-01 | 0 days | 1,274 sqft |
2023-03-01 | 0 days | 1,414 sqft |
2023-04-01 | 0 days | 1,597 sqft |
Marquette's median square footage for active listings during the 2023-04-01 period was 1,597 sqft. One year prior, the average listing was 1,400 sqft.
Marquette, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 633 | $138,385,000 | $218,618 |
Cash Out Refi | 244 | $38,830,000 | $159,139 |
Refi | 134 | $35,880,000 | $267,761 |
Home Improvement | 117 | $6,445,000 | $55,085 |
Other | 66 | $3,950,000 | $59,848 |
Marquette's most frequently cited loan purpose was Home Purchase, with 633 originations. The 2nd most popular reason was Cash Out Refi, with 244 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 323 | $55,235,000 | $171,006 |
4-5% | 298 | $71,860,000 | $241,141 |
3-4% | 257 | $48,195,000 | $187,529 |
6-7% | 152 | $22,970,000 | $151,118 |
7-8% | 57 | $6,975,000 | $122,368 |
2.5-3% | 56 | $12,110,000 | $216,250 |
<2.5% | 26 | $4,100,000 | $157,692 |
Over 8% | 22 | $1,580,000 | $71,818 |
During 2022, Marquette's most frequently originated rate bucket was 5-6%, with 323 originations.
Loan Sizing (Marquette, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 462 | $67,920,000 | $147,013 |
$100,000 or less | 357 | $19,855,000 | $55,616 |
$200k-400k | 292 | $77,440,000 | $265,205 |
$400k-600k | 61 | $29,225,000 | $479,098 |
$600k-1000k | 19 | $13,335,000 | $701,842 |
$Over $1MM | 3 | $15,715,000 | $5,238,333 |
Marquette's loan sizing saw the bucket of loans from $100k-200k with 462 originations, totaling $67,920,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 478 | $105,570,000 | $220,858 |
60-80% | 327 | $80,025,000 | $244,725 |
40-60% | 128 | $17,710,000 | $138,359 |
20-40% | 125 | $10,045,000 | $80,360 |
Under 20% | 118 | $5,920,000 | $50,169 |
Over 100% | 8 | $2,610,000 | $326,250 |
Marquette's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 478 originations, totaling $105,570,000 in origination value.