Marshall Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Marshall averaged 6.67% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

The average rate for the prior week (2023-03-16) was 6.95% and one month ago for the week of 2023-02-16, the average rate was 6.67%.

Marshall's average rate one year ago was 4.26%.

For refis of the same type during the week of 2023-03-23, the average rate was 6.91%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-03-23 6.42%
Marshall 30 Year Fixed Rate 2023-03-23 6.67%
Marshall 30 Year Fixed Rate Refi 2023-03-23 6.91%
Marshall 15 Year Fixed Rate 2023-03-23 5.89%
Marshall 15 Year Fixed Rate Refi 2023-03-23 6.29%
Marshall 30 Year FHA 2023-03-23 6.18%
Marshall 30 Year FHA Refi 2023-03-23 6.12%
Marshall 30 Year USDA 2023-03-23 6.19%
Marshall 30 Year USDA Refi 2023-03-23 6.12%
Marshall 30 Year VA 2023-03-23 6.06%
Marshall 30 Year VA Refi 2023-03-23 5.97%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Marshall, MN.

Marshall 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 Marshall, MN 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
Bremer Bank 42 4.94% $4,454
Minnwest Bank 19 5.32% $4,331
U.S. Bank 12 5.07% $2,780
QUICKEN LOANS, LLC 12 5.08% $5,163
UNITED WHOLESALE MORTGAGE, LLC 12 5.39% $7,717
CRESCENT MORTGAGE COMPANY 11 5.14% $4,038
Wells Fargo Bank 10 5.01% $3,018
Merchants Bank 8 5.35% $3,529
HOMEOWNERS FINANCIAL GROUP USA, LLC 8 5.73% $5,379
Flagstar Bank, FSB 7 5.23% $2,773
CROSSCOUNTRY MORTGAGE, LLC 6 5.45% $7,271
Plains Commerce Bank 4 4.22% $3,230
EVERETT FINANCIAL, INC. 4 6.19% $1,986
Bank of the West 3 4.46% $4,694
GUARANTEED RATE, INC. 3 4.03% $3,418
HomeTown Bank 3 4.92% $4,647
Prosperity Home Mortgage, LLC 2 5.94% $4,457
MOVEMENT MORTGAGE, LLC 2 4.69% $3,514
First Interstate Bank 2 5.25% $3,806
Mr. Cooper ( Nationstar Mortgage ) 2 5.37% $8,041
NEWREZ LLC 1 5.88% $1,040
Paramount Residential Mortgage Group, Inc. 1 7.13% $4,682
ROYAL UNITED MORTGAGE LLC 1 4.13% $4,546
Ally Bank 1 4.75% $3,525
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 6.38% $3,365
USAA Federal Savings Bank 1 5.38% $2,249
Tradition Mortgage, LLC 1 5.13% $3,527
American Mortgage & Equity Consultants, Inc. 1 5.88% $3,301
AMERISAVE MORTGAGE CORPORATION 1 5.38% $4,699
BROKER SOLUTIONS, INC. 1 7.38% $7,650
Carrington Mortgage Services, LLC 1 5.25% $4,639
COMPEER FINANCIAL, FLCA 1 4.50% $4,537
Dacotah Bank 1 5.25% $5,022
EMBRACE HOME LOANS, INC. 1 3.38% $2,905
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $3,586
First Bank & Trust 1 6.88% $5,922
First Dakota National Bank 1 4.50% $6,210
FREEDOM MORTGAGE CORPORATION 1 4.88% $4,239
Goldwater Bank, N.A. 1 6.13% $4,890
Great Western Bank 1 3.88% $2,851
Heritage Bank 1 5.75% $3,473
Home Federal Savings Bank 1 4.00% $6,045
IOWA BANKERS MORTGAGE CORPORATION 1 5.00% $5,899
LOANDEPOT.COM, LLC 1 3.38% $8,769
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.00% $3,795
NBKC BANK 1 4.88% $3,356

Marshall Average Closing Costs & Other Stats

Marshall, MN's 46 lenders originated 424 loans during 2022. The total origination value was $73,580,000, with an average loan value of $173,538.

Marshall's average closing costs are $4,001.

The top Marshall lender as defined by loan originations is Bremer Bank, with 42 loans originated. Their average total fees are $4,454, which is $122 higher than the next largest lender, Minnwest Bank.

The lowest fee Marshall lenders (with over 10 loans originated) are U.S. Bank ($2,780), Wells Fargo Bank ($3,018), CRESCENT MORTGAGE COMPANY ($4,038), Minnwest Bank ($4,331) and Bremer Bank ($4,454).

The lowest rate Marshall lenders (with over 10 loans originated) are Bremer Bank (4.94%), Wells Fargo Bank (5.01%), U.S. Bank (5.07%), QUICKEN LOANS, LLC (5.08%) and CRESCENT MORTGAGE COMPANY (5.14%).

Marshall, MN 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
Bremer Bank $19,720,000 $13,030,000 -33.9% 17.7%
Minnwest Bank $2,045,000 $5,365,000 162.3% 7.3%
UNITED WHOLESALE MORTGAGE, LLC $7,590,000 $5,150,000 -32.1% 7.0%
First Dakota National Bank $3,730,000 $3,890,000 4.3% 5.3%
U.S. Bank $9,330,000 $3,770,000 -59.6% 5.1%
QUICKEN LOANS, LLC $9,355,000 $3,395,000 -63.7% 4.6%
The Greenwood's State Bank $2,890,000 n/a 3.9%
Wells Fargo Bank $5,990,000 $2,205,000 -63.2% 3.0%
Mortgage Research Center, LLC $390,000 $2,140,000 448.7% 2.9%
Bank of the West $1,500,000 $2,120,000 41.3% 2.9%
CRESCENT MORTGAGE COMPANY $3,045,000 $2,000,000 -34.3% 2.7%
CROSSCOUNTRY MORTGAGE, LLC $2,670,000 $1,950,000 -27.0% 2.7%
HOMEOWNERS FINANCIAL GROUP USA, LLC $3,345,000 $1,775,000 -46.9% 2.4%
Flagstar Bank, FSB $2,000,000 $1,615,000 -19.3% 2.2%
Merchants Bank $5,405,000 $1,565,000 -71.0% 2.1%
Plains Commerce Bank $11,495,000 $1,270,000 -89.0% 1.7%
EVERETT FINANCIAL, INC. $670,000 $1,150,000 71.6% 1.6%
GUARANTEED RATE, INC. $1,880,000 $1,150,000 -38.8% 1.6%
HomeTown Bank $810,000 $1,020,000 25.9% 1.4%
First Interstate Bank $760,000 n/a 1.0%
First Bank & Trust $1,275,000 $755,000 -40.8% 1.0%
NBKC BANK $535,000 n/a 0.7%
CALIBER HOME LOANS, INC. $600,000 $515,000 -14.2% 0.7%
Old National Bank $730,000 $505,000 -30.8% 0.7%
Prosperity Home Mortgage, LLC $775,000 $505,000 -34.8% 0.7%
MOVEMENT MORTGAGE, LLC $265,000 $495,000 86.8% 0.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $525,000 $460,000 -12.4% 0.6%
Great Western Bank $2,395,000 $455,000 -81.0% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $505,000 $450,000 -10.9% 0.6%
AMERISAVE MORTGAGE CORPORATION $995,000 $410,000 -58.8% 0.6%
American Mortgage & Equity Consultants, Inc. $345,000 $395,000 14.5% 0.5%
Citizens Alliance Bank $845,000 $385,000 -54.4% 0.5%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $765,000 $385,000 -49.7% 0.5%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $590,000 $380,000 -35.6% 0.5%
First Western Bank & Trust $355,000 n/a 0.5%
AFFINITY PLUS $410,000 $340,000 -17.1% 0.5%
LOANDEPOT.COM, LLC $540,000 $335,000 -38.0% 0.5%
Nations Lending Corporation $335,000 n/a 0.5%
COMPEER FINANCIAL, FLCA $605,000 $330,000 -45.5% 0.4%
Home Federal Savings Bank $140,000 $330,000 135.7% 0.4%
Carrington Mortgage Services, LLC $255,000 $320,000 25.5% 0.4%
BROKER SOLUTIONS, INC. $940,000 $310,000 -67.0% 0.4%
AgCountry Farm Credit Services, FLCA $295,000 $300,000 1.7% 0.4%
IOWA BANKERS MORTGAGE CORPORATION $295,000 n/a 0.4%
GUARANTEED RATE AFFINITY, LLC $285,000 n/a 0.4%
HANCOCK MORTGAGE PARTNERS, LLC $285,000 n/a 0.4%
Dacotah Bank $95,000 $265,000 178.9% 0.4%
PENNYMAC LOAN SERVICES, LLC $955,000 $260,000 -72.8% 0.4%
CHURCHILL MORTGAGE CORPORATION $515,000 $245,000 -52.4% 0.3%
American Bank & Trust $195,000 $225,000 15.4% 0.3%
HIWAY $55,000 $225,000 309.1% 0.3%
PREMIA MORTGAGE, LLC $225,000 n/a 0.3%
First Savings Bank $185,000 n/a 0.3%
Tradition Mortgage, LLC $185,000 n/a 0.3%
Goldwater Bank, N.A. $170,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $165,000 n/a 0.2%
EMBRACE HOME LOANS, INC. $155,000 n/a 0.2%
ROYAL UNITED MORTGAGE LLC $150,000 n/a 0.2%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $135,000 n/a 0.2%
First International Bank & Trust $135,000 n/a 0.2%
FREEDOM MORTGAGE CORPORATION $1,640,000 $135,000 -91.8% 0.2%
Ally Bank $125,000 n/a 0.2%
SOUTHPOINT FINANCIAL $1,050,000 $125,000 -88.1% 0.2%
JPMorgan Chase Bank $290,000 $120,000 -58.6% 0.2%
Heritage Bank $785,000 $115,000 -85.4% 0.2%
PHH Mortgage Corporation $115,000 n/a 0.2%
PLAZA HOME MORTGAGE, INC. $125,000 $115,000 -8.0% 0.2%
Associated Healthcare Credit Union $110,000 n/a 0.1%
Low VA Rates, LLC $175,000 $105,000 -40.0% 0.1%
Summit Mortgage Corporation $105,000 n/a 0.1%
HOMESIDE FINANCIAL, LLC $115,000 $95,000 -17.4% 0.1%
Signature Federal Credit Union $55,000 $95,000 72.7% 0.1%
Bank of America $125,000 $75,000 -40.0% 0.1%
Paramount Residential Mortgage Group, Inc. $75,000 n/a 0.1%
The Huntington National Bank $225,000 $75,000 -66.7% 0.1%
USAA Federal Savings Bank $75,000 n/a 0.1%
Discover Bank $160,000 $55,000 -65.6% 0.1%
Servion, Inc. $115,000 $55,000 -52.2% 0.1%
NEWREZ LLC $1,175,000 $45,000 -96.2% 0.1%
NORTHWOODS $45,000 n/a 0.1%
SPIRE Credit Union $45,000 n/a 0.1%
Bank Midwest $615,000 $35,000 -94.3% 0.0%

Marshall's top lender by overall market share is Bremer Bank, with 17.7% market share. In second place, with 7.3%, is Minnwest Bank, having originated $5,365,000 in loans. In third place, with 7.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $5,150,000 in loans. In fourth place, with 5.3%, is First Dakota National Bank, having originated $3,890,000 in loans. In fifth place, with 5.1%, is U.S. Bank, having originated $3,770,000 in loans.


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

Realtor.com - Marshall (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 $111,250 (-14.4%) $145,003 (-6.5%) 0.00 54
2018-02-01 $113,225 (-15.5%) $148,114 (-6.4%) 0.00 57
2018-03-01 $128,500 (-5.6%) $152,538 (-4.8%) 0.00 66
2018-04-01 $140,702 (8.3%) $156,690 (-0.4%) 0.00 68
2018-05-01 $142,475 (5.6%) $150,268 (-5.3%) 0.00 73
2018-06-01 $129,950 (-10.3%) $140,243 (-18.0%) 0.00 79
2018-07-01 $123,500 (-19.3%) $141,636 (-18.3%) 0.00 82
2018-08-01 $131,750 (-6.2%) $148,359 (-7.7%) 0.00 87
2018-09-01 $125,000 (0.0%) $150,912 (-2.0%) 0.00 93
2018-10-01 $126,250 (1.0%) $153,598 (0.0%) 0.00 90
2018-11-01 $146,000 (19.6%) $160,965 (6.1%) 0.00 97
2018-12-01 $117,750 (-5.7%) $152,272 (2.2%) 0.00 93
2019-01-01 $137,000 (23.2%) $157,267 (8.5%) 0.00 80
2019-02-01 $141,000 (24.5%) $161,189 (8.8%) 0.00 87
2019-03-01 $144,443 (12.4%) $159,486 (4.6%) 0.00 93
2019-04-01 $144,393 (2.6%) $155,250 (-0.9%) 0.00 103
2019-05-01 $145,950 (2.4%) $159,574 (6.2%) 0.00 98
2019-06-01 $139,900 (7.7%) $155,278 (10.7%) 0.00 96
2019-07-01 $142,225 (15.2%) $157,664 (11.3%) 0.00 118
2019-08-01 $137,418 (4.3%) $155,931 (5.1%) 0.00 117
2019-09-01 $134,370 (7.5%) $154,780 (2.6%) 0.00 115
2019-10-01 $133,839 (6.0%) $155,426 (1.2%) 0.00 113
2019-11-01 $139,900 (-4.2%) $162,729 (1.1%) 0.00 103
2019-12-01 $135,925 (15.4%) $159,787 (4.9%) 0.00 89
2020-01-01 $138,450 (1.1%) $158,413 (0.7%) 0.00 79
2020-02-01 $124,000 (-12.1%) $151,286 (-6.1%) 0.00 83
2020-03-01 $127,725 (-11.6%) $153,915 (-3.5%) 0.00 80
2020-04-01 $127,450 (-11.7%) $153,178 (-1.3%) 0.00 85
2020-05-01 $125,000 (-14.4%) $156,612 (-1.9%) 0.00 85
2020-06-01 $139,575 (-0.2%) $166,533 (7.3%) 0.00 91
2020-07-01 $134,425 (-5.5%) $168,673 (7.0%) 0.00 98
2020-08-01 $123,750 (-10.0%) $163,980 (5.2%) 0.00 81
2020-09-01 $116,375 (-13.4%) $158,217 (2.2%) 0.00 78
2020-10-01 $119,750 (-10.5%) $154,432 (-0.6%) 0.00 80
2020-11-01 $114,900 (-17.9%) $146,467 (-10.0%) 0.00 69
2020-12-01 $101,925 (-25.0%) $138,319 (-13.4%) 0.00 62
2021-01-01 $114,500 (-17.3%) $140,824 (-11.1%) 0.00 45
2021-02-01 $105,250 (-15.1%) $139,073 (-8.1%) 0.00 44
2021-03-01 $102,475 (-19.8%) $136,878 (-11.1%) 0.00 37
2021-04-01 $109,000 (-14.5%) $141,572 (-7.6%) 0.00 33
2021-05-01 $130,700 (4.6%) $148,250 (-5.3%) 0.00 40
2021-06-01 $145,000 (3.9%) $158,152 (-5.0%) 0.00 44
2021-07-01 $160,000 (19.0%) $188,288 (11.6%) 0.00 47
2021-08-01 $150,000 (21.2%) $174,832 (6.6%) 0.00 41
2021-09-01 $146,875 (26.2%) $167,687 (6.0%) 0.00 43
2021-10-01 $138,500 (15.7%) $168,474 (9.1%) 0.00 39
2021-11-01 $147,800 (28.6%) $190,102 (29.8%) 0.00 35
2021-12-01 $184,000 (80.5%) $200,073 (44.7%) 0.00 31
2022-01-01 $194,950 (70.3%) $190,579 (35.3%) 0.00 23
2022-02-01 $197,450 (87.6%) $182,152 (31.0%) 0.00 19
2022-03-01 $155,375 (51.6%) $172,328 (25.9%) 0.00 17
2022-04-01 $155,000 (42.2%) $167,668 (18.4%) 0.00 15
2022-05-01 $185,000 (41.6%) $215,164 (45.1%) 0.00 23
2022-06-01 $188,000 (29.7%) $235,648 (49.0%) 0.00 27
2022-07-01 $179,900 (12.4%) $238,156 (26.5%) 0.00 30
2022-08-01 $169,175 (12.8%) $228,957 (31.0%) 0.00 30
2022-09-01 $159,175 (8.4%) $226,237 (34.9%) 0.00 32
2022-10-01 $174,750 (26.2%) $210,676 (25.1%) 0.00 32
2022-11-01 $140,000 (-5.3%) $177,965 (-6.4%) 0.00 39
2022-12-01 $139,000 (-24.5%) $186,148 (-7.0%) 0.00 32
2023-01-01 $137,500 (-29.5%) $183,878 (-3.5%) 0.00 27
2023-02-01 $180,000 (-8.8%) $211,105 (15.9%) 0.00 27
Marshall's median listing price for 2023-02-01 was $180,000, a difference of $-17,450 (-8.8%) versus the prior year and $42,500 versus the prior month.

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

Marshall's average listing price for 2023-02-01 was $211,105, a difference of $28,953 (15.9%) versus the prior year and $27,227 versus the prior month.

For the 2023-02-01 period, Marshall had 27 MLS listings, a difference of 0 listings (0%) versus the prior month and 8 listings (42%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Marshall (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,129 sqft
2018-02-01 0 days 2,110 sqft
2018-03-01 0 days 2,212 sqft
2018-04-01 0 days 2,337 sqft
2018-05-01 0 days 2,202 sqft
2018-06-01 0 days 2,189 sqft
2018-07-01 0 days 2,092 sqft
2018-08-01 0 days 2,191 sqft
2018-09-01 0 days 2,192 sqft
2018-10-01 0 days 2,234 sqft
2018-11-01 0 days 2,277 sqft
2018-12-01 0 days 2,308 sqft
2019-01-01 0 days 2,373 sqft
2019-02-01 0 days 2,281 sqft
2019-03-01 0 days 2,050 sqft
2019-04-01 0 days 1,840 sqft
2019-05-01 0 days 1,852 sqft
2019-06-01 0 days 1,847 sqft
2019-07-01 0 days 1,894 sqft
2019-08-01 0 days 1,887 sqft
2019-09-01 0 days 1,898 sqft
2019-10-01 0 days 1,905 sqft
2019-11-01 0 days 1,860 sqft
2019-12-01 0 days 1,840 sqft
2020-01-01 0 days 1,806 sqft
2020-02-01 0 days 1,778 sqft
2020-03-01 0 days 1,830 sqft
2020-04-01 0 days 1,840 sqft
2020-05-01 0 days 1,850 sqft
2020-06-01 0 days 1,856 sqft
2020-07-01 0 days 1,856 sqft
2020-08-01 0 days 1,843 sqft
2020-09-01 0 days 1,768 sqft
2020-10-01 0 days 1,728 sqft
2020-11-01 0 days 1,652 sqft
2020-12-01 0 days 1,606 sqft
2021-01-01 0 days 1,640 sqft
2021-02-01 0 days 1,680 sqft
2021-03-01 0 days 1,712 sqft
2021-04-01 0 days 1,716 sqft
2021-05-01 0 days 1,670 sqft
2021-06-01 0 days 1,776 sqft
2021-07-01 0 days 1,896 sqft
2021-08-01 0 days 1,806 sqft
2021-09-01 0 days 1,813 sqft
2021-10-01 0 days 1,788 sqft
2021-11-01 0 days 1,767 sqft
2021-12-01 0 days 1,787 sqft
2022-01-01 0 days 1,808 sqft
2022-02-01 0 days 2,234 sqft
2022-03-01 0 days 2,230 sqft
2022-04-01 0 days 2,224 sqft
2022-05-01 0 days 1,861 sqft
2022-06-01 0 days 1,829 sqft
2022-07-01 0 days 1,890 sqft
2022-08-01 0 days 1,773 sqft
2022-09-01 0 days 1,681 sqft
2022-10-01 0 days 1,885 sqft
2022-11-01 0 days 1,757 sqft
2022-12-01 0 days 1,756 sqft
2023-01-01 0 days 1,755 sqft
2023-02-01 0 days 1,886 sqft
Marshall's median listing age (time on market) for 2023-02-01 was 0 days.

Marshall's median square footage for active listings during the 2023-02-01 period was 1,886 sqft. One year prior, the average listing was 2,234 sqft.

Marshall, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 273 $52,125,000 $190,934
Cash Out Refi 52 $8,750,000 $168,269
Refi 48 $9,320,000 $194,167
Other 28 $2,030,000 $72,500
Home Improvement 23 $1,355,000 $58,913

Marshall's most frequently cited loan purpose was Home Purchase, with 273 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 135 $23,235,000 $172,111
4-5% 106 $20,320,000 $191,698
3-4% 65 $13,305,000 $204,692
6-7% 53 $7,515,000 $141,792
7-8% 21 $2,585,000 $123,095
2.5-3% 20 $3,860,000 $193,000
Over 8% 11 $455,000 $41,364
<2.5% 10 $1,780,000 $178,000

During 2022, Marshall's most frequently originated rate bucket was 5-6%, with 135 originations.

Loan Sizing (Marshall, MN MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 159 $23,975,000 $150,786
$100,000 or less 139 $8,385,000 $60,324
$200k-400k 113 $30,855,000 $273,053
$400k-600k 8 $3,740,000 $467,500
$Over $1MM 3 $5,005,000 $1,668,333
$600k-1000k 2 $1,620,000 $810,000

Marshall's loan sizing saw the bucket of loans from $100k-200k with 159 originations, totaling $23,975,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 209 $38,745,000 $185,383
60-80% 101 $18,825,000 $186,386
40-60% 40 $6,870,000 $171,750
20-40% 34 $6,460,000 $190,000
Under 20% 34 $1,150,000 $33,824
Over 100% 4 $1,020,000 $255,000

Marshall's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 209 originations, totaling $38,745,000 in origination value.