Miami Mortgage Rates

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  • Trends
  • Rates vs. Fees
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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Miami averaged 6.03% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

    The average rate for the prior week (2022-06-16) was 6.1% and one month ago for the week of 2022-05-19, the average rate was 5.57%.

    Miami's average rate one year ago was 3.39%.

    For refis of the same type during the week of 2022-06-23, the average rate was 5.8%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-23 5.81%
    Miami 30 Year Fixed Rate 2022-06-23 6.03%
    Miami 30 Year Fixed Rate Refi 2022-06-23 5.8%
    Miami 15 Year Fixed Rate 2022-06-23 5.27%
    Miami 15 Year Fixed Rate Refi 2022-06-23 5.26%
    Miami 30 Year FHA 2022-06-23 -0.05%
    Miami 30 Year FHA Refi 2022-06-23 0.05%
    Miami 30 Year USDA 2022-06-23 0.03%
    Miami 30 Year USDA Refi 2022-06-23 0.44%
    Miami 30 Year VA 2022-06-23 -0.07%
    Miami 30 Year VA Refi 2022-06-23 0.19%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Miami, OK.

    Miami Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Miami, OK 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Arvest Bank 44 3.26% $3,242
    QUICKEN LOANS, LLC 16 3.00% $6,161
    Mortgage Investment Services Corporation 9 3.35% $5,402
    United Fidelity Funding Corp. 9 3.42% $3,555
    Wells Fargo Bank 6 3.23% $4,083
    FLAT BRANCH MORTGAGE, INC. 6 3.29% $3,380
    TTCU Federal Credit Union 6 2.90% $3,320
    LOANDEPOT.COM, LLC 3 3.33% $5,756
    TOWNE MORTGAGE COMPANY 3 3.54% $4,737
    Flagstar Bank, FSB 2 2.94% $3,483
    F & M Bank 2 3.00% $4,119
    AMERISAVE MORTGAGE CORPORATION 2 3.00% $6,141
    FIDELITY BANK 1 3.25% $3,469
    FINANCE OF AMERICA MORTGAGE LLC 1 2.99% $3,859
    AMERICAN FINANCING CORPORATION 1 4.25% $4,629
    International Bank of Commerce 1 2.88% $3,707
    KELLER MORTGAGE, LLC 1 3.00% $2,819
    LOANPAL, LLC 1 3.88% $7,046
    Mortgage Research Center, LLC 1 3.38% $922
    NAVY FEDERAL CREDIT UNION 1 4.00% $4,936
    NEWREZ LLC 1 3.99% $3,366
    ROYAL UNITED MORTGAGE LLC 1 2.88% $7,151
    Simmons Bank 1 3.00% $4,950
    Southwest Missouri Bank 1 2.75% $3,087
    TIB The Independent Bankersbank 1 3.25% $6,657
    UNITED 1 3.63% $2,879
    U.S. Bank 1 2.88% $3,069
    Gateway First Bank 1 3.25% $2,637
    Armstrong Bank 1 2.88% $2,747
    BancorpSouth Bank 1 3.25% $4,079
    Bank of America 1 2.75% $4,092
    Bank of England 1 3.00% $3,897
    BETTER MORTGAGE CORPORATION 1 2.88% $4,178
    CALIBER HOME LOANS, INC. 1 2.75% $6,385
    Carrington Mortgage Services, LLC 1 3.38% $5,949
    DAS Acquisition Company, LLC 1 3.25% $3,637
    Discover Bank 1 4.75% $0
    EVERETT FINANCIAL, INC. 1 4.13% $1,528
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.99% $4,844

    Miami, OK's 39 lenders originated 484 loans during 2021. The total origination value was $65,370,000, with an average loan value of $135,062.

    The top Miami lender as defined by loan originations is Arvest Bank, with 44 loans originated. Their average total fees are $3,242, which is $2,919 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Miami lenders (with over 10 loans originated) are Arvest Bank ($3,242), QUICKEN LOANS, LLC ($6,161), .

    The lowest rate Miami lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.00%), Arvest Bank (3.26%), .

    Miami, OK Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    Arvest Bank $9,725,000 $11,550,000 18.8% 17.7%
    QUICKEN LOANS, LLC $4,225,000 $6,735,000 59.4% 10.3%
    FLAT BRANCH MORTGAGE, INC. $3,695,000 $5,215,000 41.1% 8.0%
    Chickasaw Community Bank $2,295,000 $3,450,000 50.3% 5.3%
    Mortgage Research Center, LLC $1,565,000 $3,450,000 120.4% 5.3%
    United Fidelity Funding Corp. $1,775,000 $3,160,000 78.0% 4.8%
    Mortgage Investment Services Corporation $3,845,000 $2,990,000 -22.2% 4.6%
    Oakstar Bank $2,395,000 n/a 3.7%
    TOWNE MORTGAGE COMPANY $1,030,000 $2,060,000 100.0% 3.2%
    Grand Savings Bank $755,000 $1,510,000 100.0% 2.3%
    TTCU Federal Credit Union $715,000 $1,510,000 111.2% 2.3%
    Flagstar Bank, FSB $655,000 $1,265,000 93.1% 1.9%
    Wells Fargo Bank $110,000 $1,135,000 931.8% 1.7%
    FREEDOM MORTGAGE CORPORATION $915,000 $855,000 -6.6% 1.3%
    F & M Bank $675,000 $840,000 24.4% 1.3%
    People's Bank of Seneca $1,270,000 $750,000 -40.9% 1.1%
    Southwest Missouri Bank $525,000 $645,000 22.9% 1.0%
    PENNYMAC LOAN SERVICES, LLC $640,000 n/a 1.0%
    CALIBER HOME LOANS, INC. $585,000 n/a 0.9%
    VANDERBILT MORTGAGE AND FINANCE, INC. $840,000 $570,000 -32.1% 0.9%
    LOANDEPOT.COM, LLC $375,000 $540,000 44.0% 0.8%
    NEWREZ LLC $170,000 $530,000 211.8% 0.8%
    DOMINION FINANCIAL SERVICES, LLC $525,000 n/a 0.8%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $490,000 n/a 0.7%
    Simmons Bank $470,000 n/a 0.7%
    NAVY FEDERAL CREDIT UNION $105,000 $465,000 342.9% 0.7%
    AMERISAVE MORTGAGE CORPORATION $490,000 $460,000 -6.1% 0.7%
    BancFirst $100,000 $450,000 350.0% 0.7%
    21ST MORTGAGE CORPORATION $250,000 $435,000 74.0% 0.7%
    Barrington Bank & Trust Company, N.A. $425,000 n/a 0.7%
    MID AMERICA MORTGAGE, INC. $285,000 $415,000 45.6% 0.6%
    KELLER MORTGAGE, LLC $390,000 n/a 0.6%
    NEW DAY FINANCIAL, LLC $185,000 $390,000 110.8% 0.6%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $585,000 $380,000 -35.0% 0.6%
    Community Bank and Trust $420,000 $315,000 -25.0% 0.5%
    FINANCE OF AMERICA MORTGAGE LLC $305,000 n/a 0.5%
    BOKF $705,000 $285,000 -59.6% 0.4%
    TRIAD FINANCIAL SERVICES, INC. $285,000 n/a 0.4%
    AMERICAN FINANCING CORPORATION $280,000 n/a 0.4%
    FirstTrust Home Loans, Inc. $1,320,000 $280,000 -78.8% 0.4%
    LOANPAL, LLC $95,000 $270,000 184.2% 0.4%
    BROKER SOLUTIONS, INC. $205,000 $265,000 29.3% 0.4%
    UNITED BUILT HOMES, L.L.C. $265,000 n/a 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $65,000 $245,000 276.9% 0.4%
    HOME POINT FINANCIAL CORPORATION $95,000 $240,000 152.6% 0.4%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $225,000 n/a 0.3%
    TIAA, FSB $225,000 n/a 0.3%
    OKLAHOMA'S $215,000 n/a 0.3%
    TIB The Independent Bankersbank $215,000 n/a 0.3%
    UNITED $210,000 n/a 0.3%
    DAS Acquisition Company, LLC $155,000 $205,000 32.3% 0.3%
    Nations Lending Corporation $205,000 n/a 0.3%
    ROYAL UNITED MORTGAGE LLC $135,000 $205,000 51.9% 0.3%
    USAA Federal Savings Bank $195,000 $205,000 5.1% 0.3%
    ACCELERATE MORTGAGE, LLC $195,000 n/a 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $400,000 $195,000 -51.3% 0.3%
    AMERICAN FINANCIAL NETWORK, INC. $185,000 n/a 0.3%
    Carrington Mortgage Services, LLC $75,000 $180,000 140.0% 0.3%
    HOMESTEAD FUNDING CORP. $175,000 n/a 0.3%
    American Bank of Oklahoma $95,000 $165,000 73.7% 0.3%
    EVERETT FINANCIAL, INC. $350,000 $165,000 -52.9% 0.3%
    International Bank of Commerce $520,000 $145,000 -72.1% 0.2%
    OPEN MORTGAGE, LLC $305,000 $135,000 -55.7% 0.2%
    BancorpSouth Bank $125,000 n/a 0.2%
    BETTER MORTGAGE CORPORATION $215,000 $125,000 -41.9% 0.2%
    Discover Bank $125,000 n/a 0.2%
    First Guaranty Mortgage Corporation $115,000 n/a 0.2%
    U.S. Bank $370,000 $105,000 -71.6% 0.2%
    RED CROWN $75,000 n/a 0.1%
    Armstrong Bank $65,000 n/a 0.1%
    FIDELITY BANK $65,000 n/a 0.1%
    Freedom Bank of Southern Missouri $65,000 n/a 0.1%
    GSF Mortgage Corporation $65,000 n/a 0.1%
    Bank of England $55,000 n/a 0.1%
    Gateway First Bank $1,310,000 $55,000 -95.8% 0.1%
    JPMorgan Chase Bank $230,000 $55,000 -76.1% 0.1%
    The Central Trust Bank $45,000 n/a 0.1%
    Bank of America $345,000 $35,000 -89.9% 0.1%
    MISSOURI ELECTRIC COOPERATIVES EMPL $35,000 n/a 0.1%

    Miami's top lender by overall market share is Arvest Bank, with 17.7% market share. In second place, with 10.3%, is QUICKEN LOANS, LLC, having originated $6,735,000 in loans. In third place, with 8.0%, is FLAT BRANCH MORTGAGE, INC., having originated $5,215,000 in loans. In third place, with 5.3%, is Chickasaw Community Bank, having originated $3,450,000 in loans. In third place, with 5.3%, is Mortgage Research Center, LLC, having originated $3,450,000 in loans.

    Miami, OK Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 295 $38,165,000 $129,373
    Refi 106 $16,990,000 $160,283
    Cash Out Refi 69 $9,225,000 $133,696
    Home Improvement 9 $565,000 $62,778
    Other 5 $425,000 $85,000

    Miami's most frequently cited loan purpose was Home Purchase, with 295 originations. The 2nd most popular reason was Refi, with 106 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 182 $22,140,000 $121,648
    2.5-3% 172 $26,630,000 $154,826
    <2.5% 60 $9,620,000 $160,333
    4-5% 22 $2,320,000 $105,455
    5-6% 8 $720,000 $90,000
    Over 8% 5 $545,000 $109,000
    6-7% 4 $570,000 $142,500
    7-8% 3 $185,000 $61,667

    During 2021, Miami's most frequently originated rate bucket was 3-4%, with 182 originations.

    Loan Sizing (Miami, OK MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 221 $30,785,000 $139,299
    $100,000 or less 193 $13,055,000 $67,642
    $200k-400k 62 $16,130,000 $260,161
    $400k-600k 7 $3,325,000 $475,000
    $Over $1MM 1 $2,075,000 $2,075,000

    Miami's loan sizing saw the bucket of loans from $100k-200k with 221 originations, totaling $30,785,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 270 $36,470,000 $135,074
    60-80% 113 $17,615,000 $155,885
    40-60% 38 $4,750,000 $125,000
    20-40% 10 $520,000 $52,000
    Over 100% 8 $1,180,000 $147,500
    Under 20% 5 $135,000 $27,000

    Miami's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 270 originations, totaling $36,470,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Miami (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 $87,000 (9.2%) $111,523 (-8.2%) 0.00 165
    2018-02-01 $84,750 (6.0%) $112,115 (-6.8%) 0.00 171
    2018-03-01 $89,500 (11.9%) $114,893 (-1.8%) 0.00 174
    2018-04-01 $87,700 (6.3%) $112,175 (-5.7%) 0.00 180
    2018-05-01 $86,700 (8.4%) $113,309 (-4.9%) 0.00 185
    2018-06-01 $84,900 (2.3%) $113,048 (-7.0%) 0.00 191
    2018-07-01 $85,000 (0.0%) $117,335 (-4.7%) 0.00 181
    2018-08-01 $84,950 (-4.6%) $118,832 (-6.1%) 0.00 164
    2018-09-01 $82,900 (-2.5%) $120,688 (-3.0%) 0.00 171
    2018-10-01 $84,000 (-0.8%) $118,135 (-4.1%) 0.00 172
    2018-11-01 $84,900 (-5.6%) $117,448 (3.6%) 0.00 170
    2018-12-01 $84,900 (-5.6%) $116,505 (4.5%) 0.00 162
    2019-01-01 $83,900 (-3.6%) $118,963 (6.7%) 0.00 142
    2019-02-01 $84,900 (0.2%) $119,616 (6.7%) 0.00 137
    2019-03-01 $88,329 (-1.3%) $121,546 (5.8%) 0.00 132
    2019-04-01 $92,500 (5.5%) $124,392 (10.9%) 0.00 122
    2019-05-01 $90,750 (4.7%) $133,128 (17.5%) 0.00 115
    2019-06-01 $89,900 (5.9%) $128,980 (14.1%) 0.00 114
    2019-07-01 $89,900 (5.8%) $128,697 (9.7%) 0.00 115
    2019-08-01 $89,900 (5.8%) $127,685 (7.5%) 0.00 119
    2019-09-01 $89,800 (8.3%) $124,754 (3.4%) 0.00 120
    2019-10-01 $88,500 (5.4%) $119,397 (1.1%) 0.00 131
    2019-11-01 $84,900 (0.0%) $116,399 (-0.9%) 0.00 123
    2019-12-01 $82,500 (-2.8%) $118,098 (1.4%) 0.00 119
    2020-01-01 $80,900 (-3.6%) $121,685 (2.3%) 0.00 114
    2020-02-01 $79,900 (-5.9%) $114,265 (-4.5%) 0.00 119
    2020-03-01 $72,200 (-18.3%) $109,228 (-10.1%) 0.00 113
    2020-04-01 $75,000 (-18.9%) $112,425 (-9.6%) 0.00 106
    2020-05-01 $79,500 (-12.4%) $119,118 (-10.5%) 0.00 104
    2020-06-01 $78,200 (-13.0%) $126,129 (-2.2%) 0.00 89
    2020-07-01 $82,900 (-7.8%) $112,931 (-12.3%) 0.00 82
    2020-08-01 $87,777 (-2.4%) $118,505 (-7.2%) 0.00 90
    2020-09-01 $107,500 (19.7%) $129,583 (3.9%) 0.00 85
    2020-10-01 $107,500 (21.5%) $134,437 (12.6%) 0.00 78
    2020-11-01 $109,950 (29.5%) $137,494 (18.1%) 0.00 83
    2020-12-01 $109,900 (33.2%) $138,381 (17.2%) 0.00 62
    2021-01-01 $103,000 (27.3%) $136,993 (12.6%) 0.00 58
    2021-02-01 $83,700 (4.8%) $123,100 (7.7%) 0.00 57
    2021-03-01 $84,700 (17.3%) $134,026 (22.7%) 0.00 55
    2021-04-01 $82,000 (9.3%) $154,937 (37.8%) 0.00 59
    2021-05-01 $84,500 (6.3%) $129,682 (8.9%) 0.00 57
    2021-06-01 $79,700 (1.9%) $122,644 (-2.8%) 0.00 62
    2021-07-01 $79,900 (-3.6%) $127,745 (13.1%) 0.00 60
    2021-08-01 $93,250 (6.2%) $141,833 (19.7%) 0.00 59
    2021-09-01 $84,500 (-21.4%) $136,278 (5.2%) 0.00 62
    2021-10-01 $84,900 (-21.0%) $144,152 (7.2%) 0.00 62
    2021-11-01 $90,000 (-18.1%) $159,159 (15.8%) 0.00 64
    2021-12-01 $77,000 (-29.9%) $141,198 (2.0%) 0.00 71
    2022-01-01 $82,000 (-20.4%) $144,697 (5.6%) 0.00 67
    2022-02-01 $80,500 (-3.8%) $151,295 (22.9%) 0.00 49
    2022-03-01 $79,250 (-6.4%) $137,741 (2.8%) 0.00 58
    2022-04-01 $79,900 (-2.6%) $124,696 (-19.5%) 0.00 65
    2022-05-01 $85,500 (1.2%) $114,289 (-11.9%) 0.00 61
    Miami's median listing price for 2022-05-01 was $85,500, a difference of $1,000 (1.2%) versus the prior year and $5,600 versus the prior month.

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

    Miami's average listing price for 2022-05-01 was $114,289, a difference of $-15,393 (-11.9%) versus the prior year and $-10,407 versus the prior month.

    For the 2022-05-01 period, Miami had 61 MLS listings, a difference of -4 listings (-6%) versus the prior month and 4 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,408 sqft
    2018-02-01 0 days 1,398 sqft
    2018-03-01 0 days 1,440 sqft
    2018-04-01 0 days 1,407 sqft
    2018-05-01 0 days 1,436 sqft
    2018-06-01 0 days 1,491 sqft
    2018-07-01 0 days 1,508 sqft
    2018-08-01 0 days 1,511 sqft
    2018-09-01 0 days 1,562 sqft
    2018-10-01 0 days 1,520 sqft
    2018-11-01 0 days 1,514 sqft
    2018-12-01 0 days 1,514 sqft
    2019-01-01 0 days 1,464 sqft
    2019-02-01 0 days 1,543 sqft
    2019-03-01 0 days 1,591 sqft
    2019-04-01 0 days 1,584 sqft
    2019-05-01 0 days 1,634 sqft
    2019-06-01 0 days 1,628 sqft
    2019-07-01 0 days 1,607 sqft
    2019-08-01 0 days 1,607 sqft
    2019-09-01 0 days 1,600 sqft
    2019-10-01 0 days 1,556 sqft
    2019-11-01 0 days 1,491 sqft
    2019-12-01 0 days 1,472 sqft
    2020-01-01 0 days 1,440 sqft
    2020-02-01 0 days 1,381 sqft
    2020-03-01 0 days 1,347 sqft
    2020-04-01 0 days 1,404 sqft
    2020-05-01 0 days 1,430 sqft
    2020-06-01 0 days 1,449 sqft
    2020-07-01 0 days 1,420 sqft
    2020-08-01 0 days 1,534 sqft
    2020-09-01 0 days 1,606 sqft
    2020-10-01 0 days 1,613 sqft
    2020-11-01 0 days 1,696 sqft
    2020-12-01 0 days 1,637 sqft
    2021-01-01 0 days 1,526 sqft
    2021-02-01 0 days 1,407 sqft
    2021-03-01 0 days 1,442 sqft
    2021-04-01 0 days 1,404 sqft
    2021-05-01 0 days 1,344 sqft
    2021-06-01 0 days 1,295 sqft
    2021-07-01 0 days 1,350 sqft
    2021-08-01 0 days 1,432 sqft
    2021-09-01 0 days 1,353 sqft
    2021-10-01 0 days 1,354 sqft
    2021-11-01 0 days 1,440 sqft
    2021-12-01 0 days 1,392 sqft
    2022-01-01 0 days 1,430 sqft
    2022-02-01 0 days 1,432 sqft
    2022-03-01 0 days 1,352 sqft
    2022-04-01 0 days 1,350 sqft
    2022-05-01 0 days 1,346 sqft
    Miami's median listing age (time on market) for 2022-05-01 was 0 days.

    Miami's median square footage for active listings during the 2022-05-01 period was 1,346 sqft. One year prior, the average listing was 1,344 sqft.