Morgan City Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Morgan City averaged 7.06% for the week of 2024-05-23, compared to the national average of 6.94% for the same period.

The average rate for the prior week (2024-05-16) was 6.94% and one month ago for the week of 2024-04-18, the average rate was 7.22%.

Morgan City's average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-05-23, the average rate was 7.54%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-23 6.94%
Morgan City 30 Year Fixed Rate 2024-05-23 7.06%
Morgan City 30 Year Fixed Rate Refi 2024-05-23 7.54%
Morgan City 15 Year Fixed Rate 2024-05-23 6.34%
Morgan City 15 Year Fixed Rate Refi 2024-05-23 6.84%
Morgan City 30 Year FHA 2024-05-23 6.55%
Morgan City 30 Year FHA Refi 2024-05-23 7.05%
Morgan City 30 Year USDA 2024-05-23 6.54%
Morgan City 30 Year USDA Refi 2024-05-23 6.94%
Morgan City 30 Year VA 2024-05-23 6.67%
Morgan City 30 Year VA Refi 2024-05-23 6.77%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Morgan City, LA.

Morgan City 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 Morgan City, LA 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
First Horizon Bank 20 6.43% $4,950
Flagstar Bank, FSB 11 7.10% $4,987
GMFS LLC 10 7.09% $4,055
UNITED WHOLESALE MORTGAGE, LLC 8 6.73% $6,133
QUICKEN LOANS, LLC 3 6.96% $5,405
Regions Bank 2 6.13% $5,520
Citizens Bank 2 6.19% $4,012
Hancock Whitney Bank 2 6.81% $5,408
JPMorgan Chase Bank 1 7.13% $0
LOANDEPOT.COM, LLC 1 5.99% $8,827
Morgan Stanley Private Bank 1 6.00% $3,338
MORTGAGE FINANCIAL SERVICES, LLC 1 6.75% $3,668
NAVY FEDERAL CREDIT UNION 1 8.13% $1,905
PENNYMAC LOAN SERVICES, LLC 1 5.88% $7,962
Trustmark National Bank 1 6.88% $3,735
AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $10,707
Wolfe Financial, Inc 1 6.63% $6,225
Assurance Financial Group, L.L.C. 1 5.99% $3,891
BROKER SOLUTIONS, INC. 1 6.60% $6,906
DSLD MORTGAGE, LLC 1 6.38% $520
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.63% $10,192
FIDELITY BANK 1 5.75% $4,638
FREEDOM MORTGAGE CORPORATION 1 7.63% $5,415
Gulf Coast Bank and Trust Company 1 6.00% $3,428

Morgan City Average Closing Costs & Other Stats

Morgan City, LA's 24 lenders originated 372 loans during 2023. The total origination value was $48,580,000, with an average loan value of $130,591.

Morgan City's average closing costs are $4,852.

The top Morgan City lender as defined by loan originations is First Horizon Bank, with 20 loans originated. Their average total fees are $4,950, which is $37 lower than the next largest lender, Flagstar Bank, FSB.

The lowest fee Morgan City lenders (with over 10 loans originated) are GMFS LLC ($4,055), First Horizon Bank ($4,950), Flagstar Bank, FSB ($4,987), .

The lowest rate Morgan City lenders (with over 10 loans originated) are First Horizon Bank (6.43%), GMFS LLC (7.09%), Flagstar Bank, FSB (7.10%), .

Morgan City, LA 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
First Horizon Bank $11,525,000 $6,005,000 -47.9% 12.4%
The First National Bank of Jeanerette $4,940,000 $5,620,000 13.8% 11.6%
UNITED WHOLESALE MORTGAGE, LLC $4,845,000 $4,925,000 1.7% 10.1%
Flagstar Bank, FSB $7,500,000 $3,935,000 -47.5% 8.1%
M C Bank & Trust Company $4,800,000 $3,665,000 -23.6% 7.5%
GMFS LLC $3,985,000 $2,930,000 -26.5% 6.0%
QUICKEN LOANS, LLC $3,005,000 $1,380,000 -54.1% 2.8%
Mortgage Research Center, LLC $1,000,000 $1,290,000 29.0% 2.7%
NAVY FEDERAL CREDIT UNION $1,160,000 n/a 2.4%
EUSTIS AND AMERICAN MORTGAGE COMPANY $1,080,000 $1,055,000 -2.3% 2.2%
Hancock Whitney Bank $2,880,000 $985,000 -65.8% 2.0%
Regions Bank $680,000 $925,000 36.0% 1.9%
MID AMERICA MORTGAGE, INC. $410,000 $735,000 79.3% 1.5%
Gulf Coast Bank and Trust Company $300,000 $705,000 135.0% 1.5%
NEWREZ LLC $240,000 $705,000 193.8% 1.5%
JPMorgan Chase Bank $455,000 $625,000 37.4% 1.3%
Assurance Financial Group, L.L.C. $1,095,000 $605,000 -44.7% 1.2%
Community First Bank $1,995,000 $565,000 -71.7% 1.2%
Carrington Mortgage Services, LLC $485,000 n/a 1.0%
Citizens Bank $460,000 n/a 0.9%
CARDINAL FINANCIAL $375,000 $450,000 20.0% 0.9%
PENNYMAC LOAN SERVICES, LLC $705,000 $415,000 -41.1% 0.9%
VANDERBILT MORTGAGE AND FINANCE, INC. $695,000 $405,000 -41.7% 0.8%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $390,000 n/a 0.8%
FIDELITY BANK $835,000 $385,000 -53.9% 0.8%
TRIAD FINANCIAL SERVICES, INC. $305,000 $385,000 26.2% 0.8%
PRIMARY RESIDENTIAL MORTGAGE, INC. $155,000 $365,000 135.5% 0.8%
Synergy Bank $1,965,000 $315,000 -84.0% 0.6%
SOUTHPOINT FINANCIAL SERVICES, INC. $300,000 n/a 0.6%
21ST MORTGAGE CORPORATION $735,000 $295,000 -59.9% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $380,000 $270,000 -28.9% 0.6%
b1BANK $605,000 $265,000 -56.2% 0.5%
Abbeville Building & Loan (A State-Chartered Savings Bank) $250,000 n/a 0.5%
BROKER SOLUTIONS, INC. $95,000 $250,000 163.2% 0.5%
South Louisiana Bank $225,000 n/a 0.5%
FREEDOM MORTGAGE CORPORATION $480,000 $220,000 -54.2% 0.5%
RELIANCE FIRST CAPITAL, LLC $215,000 n/a 0.4%
BANK OF SUNSET AND TRUST CO $205,000 n/a 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $280,000 $205,000 -26.8% 0.4%
AMERICAN FINANCIAL RESOURCES, INC. $765,000 $195,000 -74.5% 0.4%
Morgan Stanley Private Bank $195,000 n/a 0.4%
Rayne State Bank & Trust Company $195,000 n/a 0.4%
UNION HOME MORTGAGE CORP. $255,000 $195,000 -23.5% 0.4%
Farmers-Merchants Bank & Trust Company $55,000 $185,000 236.4% 0.4%
LOANDEPOT.COM, LLC $3,335,000 $185,000 -94.5% 0.4%
PLAZA HOME MORTGAGE, INC. $175,000 n/a 0.4%
USAA Federal Savings Bank $305,000 $165,000 -45.9% 0.3%
Wolfe Financial, Inc $165,000 n/a 0.3%
MORTGAGE SOLUTIONS OF COLORADO, LLC $155,000 n/a 0.3%
The Evangeline Bank & Trust Company $800,000 $155,000 -80.6% 0.3%
DSLD MORTGAGE, LLC $145,000 n/a 0.3%
MORTGAGE FINANCIAL SERVICES, LLC $145,000 n/a 0.3%
First American Bank and Trust $180,000 $140,000 -22.2% 0.3%
Wells Fargo Bank $155,000 $135,000 -12.9% 0.3%
Jeff Davis Bancshares $605,000 $130,000 -78.5% 0.3%
FIRST COMMUNITY MORTGAGE, INC. $125,000 n/a 0.3%
Trustmark National Bank $125,000 n/a 0.3%
Hometown Equity Mortgage, LLC $115,000 n/a 0.2%
Paramount Residential Mortgage Group, Inc. $115,000 n/a 0.2%
CSL Financial, LLC $325,000 $105,000 -67.7% 0.2%
Bank of Abbeville & Trust Company $90,000 n/a 0.2%
COUNTRYPLACE MORTGAGE, LTD. $95,000 $85,000 -10.5% 0.2%
MERITUS Federal Credit Union $75,000 n/a 0.2%
Coastal Community Bank $55,000 n/a 0.1%
SPRING EQ, LLC $55,000 $55,000 0.0% 0.1%
BMO Harris Bank $45,000 n/a 0.1%
Discover Bank $55,000 $35,000 -36.4% 0.1%
Figure Lending LLC $35,000 n/a 0.1%
Home Bank $295,000 $25,000 -91.5% 0.1%
Signature Federal Credit Union $115,000 $25,000 -78.3% 0.1%

Morgan City's top lender by overall market share is First Horizon Bank, with 12.4% market share. In second place, with 11.6%, is The First National Bank of Jeanerette, having originated $5,620,000 in loans. In third place, with 10.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $4,925,000 in loans. In fourth place, with 8.1%, is Flagstar Bank, FSB, having originated $3,935,000 in loans. In fifth place, with 7.5%, is M C Bank & Trust Company, having originated $3,665,000 in loans.


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

Realtor.com - Morgan City (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 $135,850 (5.5%) $209,469 (1.1%) 0.00 152
2018-02-01 $135,725 (4.7%) $210,850 (-0.7%) 0.00 148
2018-03-01 $142,000 (-0.3%) $210,979 (-4.5%) 0.00 150
2018-04-01 $143,000 (-4.4%) $210,249 (-6.7%) 0.00 164
2018-05-01 $140,450 (-7.6%) $210,658 (-10.9%) 0.00 159
2018-06-01 $139,700 (-6.9%) $203,397 (-7.6%) 0.00 169
2018-07-01 $148,225 (-0.1%) $206,270 (2.3%) 0.00 164
2018-08-01 $149,450 (5.5%) $205,367 (4.4%) 0.00 171
2018-09-01 $150,000 (1.7%) $204,549 (4.9%) 0.00 164
2018-10-01 $153,750 (12.6%) $209,148 (7.0%) 0.00 159
2018-11-01 $151,250 (7.3%) $204,377 (3.0%) 0.00 158
2018-12-01 $150,000 (11.1%) $203,537 (3.4%) 0.00 150
2019-01-01 $150,000 (10.4%) $199,035 (-5.0%) 0.00 152
2019-02-01 $157,175 (15.8%) $198,487 (-5.9%) 0.00 165
2019-03-01 $154,550 (8.8%) $199,692 (-5.4%) 0.00 165
2019-04-01 $150,000 (4.9%) $207,994 (-1.1%) 0.00 163
2019-05-01 $149,900 (6.7%) $207,946 (-1.3%) 0.00 160
2019-06-01 $142,450 (2.0%) $207,804 (2.2%) 0.00 165
2019-07-01 $145,250 (-2.0%) $211,326 (2.5%) 0.00 171
2019-08-01 $144,455 (-3.3%) $209,940 (2.2%) 0.00 165
2019-09-01 $143,636 (-4.2%) $206,222 (0.8%) 0.00 162
2019-10-01 $143,000 (-7.0%) $204,458 (-2.2%) 0.00 158
2019-11-01 $143,000 (-5.5%) $207,874 (1.7%) 0.00 152
2019-12-01 $140,650 (-6.2%) $208,555 (2.5%) 0.00 144
2020-01-01 $135,000 (-10.0%) $200,401 (0.7%) 0.00 150
2020-02-01 $135,000 (-14.1%) $199,553 (0.5%) 0.00 162
2020-03-01 $134,675 (-12.9%) $205,653 (3.0%) 0.00 166
2020-04-01 $135,000 (-10.0%) $209,598 (0.8%) 0.00 160
2020-05-01 $139,250 (-7.1%) $213,700 (2.8%) 0.00 154
2020-06-01 $139,950 (-1.8%) $212,049 (2.0%) 0.00 156
2020-07-01 $144,750 (-0.3%) $210,898 (-0.2%) 0.00 152
2020-08-01 $155,000 (7.3%) $221,035 (5.3%) 0.00 146
2020-09-01 $163,525 (13.9%) $223,655 (8.5%) 0.00 138
2020-10-01 $155,000 (8.4%) $204,172 (-0.1%) 0.00 134
2020-11-01 $149,675 (4.7%) $203,723 (-2.0%) 0.00 136
2020-12-01 $146,975 (4.5%) $227,215 (9.0%) 0.00 129
2021-01-01 $145,000 (7.4%) $229,119 (14.3%) 0.00 115
2021-02-01 $154,925 (14.8%) $236,588 (18.6%) 0.00 120
2021-03-01 $153,725 (14.2%) $253,189 (23.1%) 0.00 115
2021-04-01 $155,000 (14.8%) $262,181 (25.1%) 0.00 104
2021-05-01 $149,900 (7.7%) $249,687 (16.8%) 0.00 97
2021-06-01 $157,475 (12.5%) $256,272 (20.9%) 0.00 100
2021-07-01 $169,450 (17.1%) $250,940 (19.0%) 0.00 103
2021-08-01 $176,500 (13.9%) $274,215 (24.1%) 0.00 98
2021-09-01 $176,000 (7.6%) $257,351 (15.1%) 0.00 105
2021-10-01 $195,000 (25.8%) $287,635 (40.9%) 0.00 92
2021-11-01 $199,200 (33.1%) $288,551 (41.6%) 0.00 87
2021-12-01 $199,950 (36.0%) $268,456 (18.2%) 0.00 86
2022-01-01 $195,000 (34.5%) $263,790 (15.1%) 0.00 88
2022-02-01 $194,875 (25.8%) $284,063 (20.1%) 0.00 88
2022-03-01 $188,500 (22.6%) $278,695 (10.1%) 0.00 83
2022-04-01 $189,000 (21.9%) $266,312 (1.6%) 0.00 92
2022-05-01 $188,750 (25.9%) $272,309 (9.1%) 0.00 100
2022-06-01 $182,500 (15.9%) $284,020 (10.8%) 0.00 89
2022-07-01 $169,900 (0.3%) $280,883 (11.9%) 0.00 87
2022-08-01 $166,500 (-5.7%) $271,619 (-1.0%) 0.00 93
2022-09-01 $159,625 (-9.3%) $265,319 (3.1%) 0.00 101
2022-10-01 $163,500 (-16.2%) $249,548 (-13.2%) 0.00 103
2022-11-01 $160,000 (-19.7%) $244,611 (-15.2%) 0.00 102
2022-12-01 $160,000 (-20.0%) $241,658 (-10.0%) 0.00 99
2023-01-01 $160,000 (-18.0%) $244,219 (-7.4%) 0.00 90
2023-02-01 $170,000 (-12.8%) $257,398 (-9.4%) 0.00 91
2023-03-01 $168,500 (-10.6%) $248,246 (-10.9%) 0.00 93
2023-04-01 $172,000 (-9.0%) $250,269 (-6.0%) 0.00 93
2023-05-01 $169,974 (-10.0%) $250,655 (-8.0%) 0.00 101
2023-06-01 $172,125 (-5.7%) $250,056 (-12.0%) 0.00 100
2023-07-01 $185,000 (8.9%) $266,892 (-5.0%) 0.00 99
2023-08-01 $188,000 (12.9%) $262,823 (-3.2%) 0.00 103
2023-09-01 $206,500 (29.4%) $274,283 (3.4%) 0.00 100
2023-10-01 $206,250 (26.2%) $271,694 (8.9%) 0.00 95
2023-11-01 $187,750 (17.3%) $254,576 (4.1%) 0.00 103
2023-12-01 $187,500 (17.2%) $246,748 (2.1%) 0.00 98
2024-01-01 $186,000 (16.3%) $259,983 (6.5%) 0.00 90
2024-02-01 $191,725 (12.8%) $270,526 (5.1%) 0.00 87
2024-03-01 $194,000 (15.1%) $271,204 (9.3%) 0.00 90
2024-04-01 $187,225 (8.9%) $255,790 (2.2%) 0.00 92
Morgan City's median listing price for 2024-04-01 was $187,225, a difference of $15,225 (8.9%) versus the prior year and $-6,775 versus the prior month.

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

Morgan City's average listing price for 2024-04-01 was $255,790, a difference of $5,521 (2.2%) versus the prior year and $-15,414 versus the prior month.

For the 2024-04-01 period, Morgan City had 92 MLS listings, a difference of 2 listings (2%) versus the prior month and -1 listings (-1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Morgan City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,944 sqft
2018-02-01 0 days 1,919 sqft
2018-03-01 0 days 1,780 sqft
2018-04-01 0 days 1,780 sqft
2018-05-01 0 days 1,783 sqft
2018-06-01 0 days 1,810 sqft
2018-07-01 0 days 1,874 sqft
2018-08-01 0 days 1,862 sqft
2018-09-01 0 days 1,925 sqft
2018-10-01 0 days 1,973 sqft
2018-11-01 0 days 1,982 sqft
2018-12-01 0 days 2,025 sqft
2019-01-01 0 days 2,123 sqft
2019-02-01 0 days 2,011 sqft
2019-03-01 0 days 1,967 sqft
2019-04-01 0 days 1,955 sqft
2019-05-01 0 days 1,947 sqft
2019-06-01 0 days 1,940 sqft
2019-07-01 0 days 1,943 sqft
2019-08-01 0 days 1,952 sqft
2019-09-01 0 days 1,962 sqft
2019-10-01 0 days 1,972 sqft
2019-11-01 0 days 1,960 sqft
2019-12-01 0 days 1,978 sqft
2020-01-01 0 days 1,969 sqft
2020-02-01 0 days 1,991 sqft
2020-03-01 0 days 1,980 sqft
2020-04-01 0 days 2,004 sqft
2020-05-01 0 days 2,107 sqft
2020-06-01 0 days 2,098 sqft
2020-07-01 0 days 2,073 sqft
2020-08-01 0 days 2,088 sqft
2020-09-01 0 days 2,049 sqft
2020-10-01 0 days 2,024 sqft
2020-11-01 0 days 2,041 sqft
2020-12-01 0 days 2,027 sqft
2021-01-01 0 days 2,024 sqft
2021-02-01 0 days 2,041 sqft
2021-03-01 0 days 1,996 sqft
2021-04-01 0 days 2,021 sqft
2021-05-01 0 days 1,889 sqft
2021-06-01 0 days 1,841 sqft
2021-07-01 0 days 1,914 sqft
2021-08-01 0 days 1,926 sqft
2021-09-01 0 days 1,962 sqft
2021-10-01 0 days 2,023 sqft
2021-11-01 0 days 2,030 sqft
2021-12-01 0 days 1,984 sqft
2022-01-01 0 days 1,857 sqft
2022-02-01 0 days 1,992 sqft
2022-03-01 0 days 2,041 sqft
2022-04-01 0 days 1,949 sqft
2022-05-01 0 days 2,050 sqft
2022-06-01 0 days 2,133 sqft
2022-07-01 0 days 1,993 sqft
2022-08-01 0 days 1,794 sqft
2022-09-01 0 days 1,898 sqft
2022-10-01 0 days 1,968 sqft
2022-11-01 0 days 1,984 sqft
2022-12-01 0 days 1,982 sqft
2023-01-01 0 days 1,682 sqft
2023-02-01 0 days 1,676 sqft
2023-03-01 0 days 1,676 sqft
2023-04-01 0 days 1,700 sqft
2023-05-01 0 days 1,678 sqft
2023-06-01 0 days 1,697 sqft
2023-07-01 0 days 1,842 sqft
2023-08-01 0 days 1,986 sqft
2023-09-01 0 days 2,077 sqft
2023-10-01 0 days 2,096 sqft
2023-11-01 0 days 2,001 sqft
2023-12-01 0 days 1,997 sqft
2024-01-01 0 days 2,040 sqft
2024-02-01 0 days 1,951 sqft
2024-03-01 0 days 1,904 sqft
2024-04-01 0 days 1,870 sqft
Morgan City's median listing age (time on market) for 2024-04-01 was 0 days.

Morgan City's median square footage for active listings during the 2024-04-01 period was 1,870 sqft. One year prior, the average listing was 1,700 sqft.

Morgan City, LA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 224 $33,220,000 $148,304
Refi 74 $9,090,000 $122,838
Other 29 $1,475,000 $50,862
Cash Out Refi 26 $3,420,000 $131,538
Home Improvement 19 $1,375,000 $72,368

Morgan City's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Refi, with 74 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 95 $14,415,000 $151,737
7-8% 64 $9,810,000 $153,281
Over 8% 48 $3,940,000 $82,083
5-6% 42 $7,990,000 $190,238
4-5% 9 $1,065,000 $118,333
2.5-3% 1 $45,000 $45,000

During 2023, Morgan City's most frequently originated rate bucket was 6-7%, with 95 originations.

Loan Sizing (Morgan City, LA MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 169 $23,855,000 $141,154
$100,000 or less 145 $8,665,000 $59,759
$200k-400k 55 $14,195,000 $258,091
$400k-600k 2 $970,000 $485,000
$600k-1000k 1 $895,000 $895,000

Morgan City's loan sizing saw the bucket of loans from $100k-200k with 169 originations, totaling $23,855,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 152 $24,830,000 $163,355
60-80% 41 $5,735,000 $139,878
20-40% 22 $2,420,000 $110,000
Under 20% 16 $760,000 $47,500
40-60% 14 $1,520,000 $108,571
Over 100% 13 $1,895,000 $145,769

Morgan City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 152 originations, totaling $24,830,000 in origination value.