Mount Airy Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mount Airy averaged
6.23%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
5.73% and
one month ago for the week of 2024-09-05, the
average rate was 6.36%.
Mount Airy's average rate one year ago was 7.2%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.62%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
Mount Airy 30 Year Fixed Rate | 2024-10-10 | 6.23% |
Mount Airy 30 Year Fixed Rate Refi | 2024-10-10 | 6.62% |
Mount Airy 15 Year Fixed Rate | 2024-10-10 | 5.21% |
Mount Airy 15 Year Fixed Rate Refi | 2024-10-10 | 5.61% |
Mount Airy 30 Year FHA | 2024-10-10 | 6.18% |
Mount Airy 30 Year FHA Refi | 2024-10-10 | 6.2% |
Mount Airy 30 Year USDA | 2024-10-10 | 5.98% |
Mount Airy 30 Year USDA Refi | 2024-10-10 | 5.88% |
Mount Airy 30 Year VA | 2024-10-10 | 5.65% |
Mount Airy 30 Year VA Refi | 2024-10-10 | 5.75% |
Mount Airy 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 Mount Airy, NC 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.).
Mount Airy Average Closing Costs & Other Stats
Mount Airy, NC's 80 lenders originated 1,243
loans during 2023. The total origination value was $197,005,000, with an average loan value of
$158,492.
Mount Airy's average closing costs are $4,566.
The top Mount Airy lender as defined by loan originations is STATE EMPLOYEES', with
99 loans originated. Their average total fees are
$3,512, which is $2,534
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Mount Airy lenders (with over 10 loans originated) are
LOCAL GOVERNMENT FEDERAL CREDIT UNION ($3,361), STATE EMPLOYEES' ($3,512), Truist ($3,741), First Reliance Bank ($4,848) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,681).
The lowest rate Mount Airy lenders (with over 10 loans originated) are
STATE EMPLOYEES' (5.94%), First Reliance Bank (6.22%), LOCAL GOVERNMENT FEDERAL CREDIT UNION (6.36%), Truist (6.66%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.73%).
Mount Airy, NC 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 |
---|---|---|---|---|
STATE EMPLOYEES' | $42,795,000 | $36,400,000 | -14.9% | 18.5% |
ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $13,720,000 | $14,310,000 | 4.3% | 7.3% |
EMM LOANS LLC | $11,275,000 | $9,175,000 | -18.6% | 4.7% |
QUICKEN LOANS, LLC | $15,365,000 | $8,190,000 | -46.7% | 4.2% |
Truist | $12,370,000 | $7,775,000 | -37.1% | 3.9% |
First National Bank of Pennsylvania | $8,205,000 | $6,590,000 | -19.7% | 3.3% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $9,295,000 | $6,130,000 | -34.1% | 3.1% |
LOCAL GOVERNMENT FEDERAL CREDIT UNION | $9,065,000 | $5,955,000 | -34.3% | 3.0% |
Mortgage Research Center, LLC | $6,825,000 | $5,710,000 | -16.3% | 2.9% |
ALLEGACY FEDERAL CREDIT UNION | $9,145,000 | $5,575,000 | -39.0% | 2.8% |
AgFirst Farm Credit Bank | $3,400,000 | $4,830,000 | 42.1% | 2.5% |
First Horizon Bank | $1,665,000 | $4,005,000 | 140.5% | 2.0% |
First-Citizens Bank & Trust Company | $4,695,000 | $3,405,000 | -27.5% | 1.7% |
Renasant Bank | $3,215,000 | $3,310,000 | 3.0% | 1.7% |
INTERCOASTAL MORTGAGE COMPANY | $3,665,000 | $3,285,000 | -10.4% | 1.7% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $5,070,000 | $3,035,000 | -40.1% | 1.5% |
MOVEMENT MORTGAGE, LLC | $4,445,000 | $2,945,000 | -33.7% | 1.5% |
CARDINAL FINANCIAL | $2,115,000 | $2,875,000 | 35.9% | 1.5% |
First Reliance Bank | $3,070,000 | $2,540,000 | -17.3% | 1.3% |
UNITED WHOLESALE MORTGAGE, LLC | $1,470,000 | $2,365,000 | 60.9% | 1.2% |
Wells Fargo Bank | $12,455,000 | $2,215,000 | -82.2% | 1.1% |
TOWNE MORTGAGE COMPANY | $3,795,000 | $2,145,000 | -43.5% | 1.1% |
First Community Bank | $3,670,000 | $1,900,000 | -48.2% | 1.0% |
Chickasaw Community Bank | $1,655,000 | n/a | 0.8% | |
AMERISAVE MORTGAGE CORPORATION | $2,470,000 | $1,490,000 | -39.7% | 0.8% |
CROSSCOUNTRY MORTGAGE, LLC | $1,220,000 | $1,465,000 | 20.1% | 0.7% |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $195,000 | $1,430,000 | 633.3% | 0.7% |
MUTUAL OF OMAHA MORTGAGE, INC. | $195,000 | $1,420,000 | 628.2% | 0.7% |
Truliant Federal Credit Union | $2,345,000 | $1,380,000 | -41.2% | 0.7% |
PNC Bank | $4,380,000 | $1,370,000 | -68.7% | 0.7% |
GUARANTEED RATE, INC. | $800,000 | $1,190,000 | 48.8% | 0.6% |
ACADEMY MORTGAGE CORPORATION | $1,100,000 | n/a | 0.6% | |
FIRST BANCORP | $2,115,000 | $1,060,000 | -49.9% | 0.5% |
UNION HOME MORTGAGE CORP. | $355,000 | $1,040,000 | 193.0% | 0.5% |
HOMESIDE FINANCIAL, LLC | $540,000 | $1,025,000 | 89.8% | 0.5% |
First Bank | $460,000 | $1,015,000 | 120.7% | 0.5% |
Prosperity Home Mortgage, LLC | $1,100,000 | $995,000 | -9.5% | 0.5% |
PROVIDENT FUNDING ASSOCIATES, L.P. | $965,000 | n/a | 0.5% | |
Piedmont Federal Savings Bank | $2,345,000 | $955,000 | -59.3% | 0.5% |
PENNYMAC LOAN SERVICES, LLC | $1,210,000 | $915,000 | -24.4% | 0.5% |
Mr. Cooper ( Nationstar Mortgage ) | $2,905,000 | $895,000 | -69.2% | 0.5% |
NAVY FEDERAL CREDIT UNION | $1,265,000 | $870,000 | -31.2% | 0.4% |
FIRST HOME MORTGAGE CORPORATION | $115,000 | $795,000 | 591.3% | 0.4% |
AMERICAN FINANCIAL RESOURCES, INC. | $190,000 | $755,000 | 297.4% | 0.4% |
Ameris Bank | $675,000 | $740,000 | 9.6% | 0.4% |
Pinnacle Bank | $640,000 | $740,000 | 15.6% | 0.4% |
Blue Ridge Bank | $1,080,000 | $730,000 | -32.4% | 0.4% |
Skyline National Bank | $2,105,000 | $705,000 | -66.5% | 0.4% |
CMG MORTGAGE, INC. | $950,000 | $700,000 | -26.3% | 0.4% |
NEWREZ LLC | $510,000 | $630,000 | 23.5% | 0.3% |
FREEDOM MORTGAGE CORPORATION | $2,080,000 | $610,000 | -70.7% | 0.3% |
LOANDEPOT.COM, LLC | $3,490,000 | $590,000 | -83.1% | 0.3% |
TOP FLITE FINANCIAL, INC. | $575,000 | n/a | 0.3% | |
Atlantic Coast Mortgage, LLC | $540,000 | n/a | 0.3% | |
BROKER SOLUTIONS, INC. | $1,050,000 | $500,000 | -52.4% | 0.3% |
AMERICAN FINANCING CORPORATION | $310,000 | $490,000 | 58.1% | 0.2% |
NexBank | $485,000 | n/a | 0.2% | |
AgSouth Farm Credit, ACA | $455,000 | n/a | 0.2% | |
CHURCHILL MORTGAGE CORPORATION | $615,000 | $440,000 | -28.5% | 0.2% |
The Bank of Marion | $420,000 | n/a | 0.2% | |
First Savings Bank | $395,000 | n/a | 0.2% | |
NEW DAY FINANCIAL, LLC | $1,210,000 | $390,000 | -67.8% | 0.2% |
Capital City Home Loans, LLC | $385,000 | n/a | 0.2% | |
FIRST COMMUNITY MORTGAGE, INC. | $355,000 | $380,000 | 7.0% | 0.2% |
Fifth Third Bank | $25,000 | $375,000 | 1,400.0% | 0.2% |
Sunflower Bank | $225,000 | $375,000 | 66.7% | 0.2% |
LENDINGHOME FUNDING CORPORATION | $360,000 | n/a | 0.2% | |
RELIANCE FIRST CAPITAL, LLC | $85,000 | $360,000 | 323.5% | 0.2% |
Citizens Bank | $205,000 | $350,000 | 70.7% | 0.2% |
AMERICAN FINANCIAL NETWORK, INC. | $340,000 | n/a | 0.2% | |
Carrington Mortgage Services, LLC | $1,420,000 | $335,000 | -76.4% | 0.2% |
LIBERTY HOME MORTGAGE CORPORATION | $325,000 | n/a | 0.2% | |
CALCON MUTUAL MORTGAGE LLC | $635,000 | $320,000 | -49.6% | 0.2% |
FINANCE OF AMERICA REVERSE LLC | $115,000 | $320,000 | 178.3% | 0.2% |
OCEANSIDE MORTGAGE COMPANY | $315,000 | n/a | 0.2% | |
The Federal Savings Bank | $125,000 | $310,000 | 148.0% | 0.2% |
FLAT BRANCH MORTGAGE, INC. | $295,000 | n/a | 0.1% | |
PLAZA HOME MORTGAGE, INC. | $285,000 | $285,000 | 0.0% | 0.1% |
AMERICAN HERITAGE LENDING, INC. | $155,000 | $280,000 | 80.6% | 0.1% |
First Federal Bank | $205,000 | $275,000 | 34.1% | 0.1% |
JPMorgan Chase Bank | $400,000 | $275,000 | -31.3% | 0.1% |
NBKC BANK | $155,000 | $275,000 | 77.4% | 0.1% |
GSF Mortgage Corporation | $385,000 | $265,000 | -31.2% | 0.1% |
MORTGAGE ACCESS CORP. | $265,000 | n/a | 0.1% | |
Bank of America | $1,645,000 | $260,000 | -84.2% | 0.1% |
Mid-Continent Funding, Inc. | $255,000 | n/a | 0.1% | |
TD Bank | $165,000 | $255,000 | 54.5% | 0.1% |
Carter Bank & Trust | $660,000 | $245,000 | -62.9% | 0.1% |
LEADERONE FINANCIAL CORPORATION | $235,000 | n/a | 0.1% | |
Shamrock Home Loans, Inc. | $235,000 | n/a | 0.1% | |
NORWICH COMMERCIAL GROUP, INC. | $225,000 | n/a | 0.1% | |
LATINO COMMUNITY CREDIT UNION | $190,000 | $220,000 | 15.8% | 0.1% |
LIMA ONE CAPITAL, LLC | $125,000 | $215,000 | 72.0% | 0.1% |
BETTER MORTGAGE CORPORATION | $145,000 | $205,000 | 41.4% | 0.1% |
Flagstar Bank, FSB | $630,000 | $205,000 | -67.5% | 0.1% |
POLARIS HOME FUNDING CORP. | $135,000 | $205,000 | 51.9% | 0.1% |
Ally Bank | $195,000 | n/a | 0.1% | |
Bank of Oak Ridge | $195,000 | n/a | 0.1% | |
Wyndham Capital Mortgage, Inc. | $710,000 | $195,000 | -72.5% | 0.1% |
Discover Bank | $155,000 | $190,000 | 22.6% | 0.1% |
Regions Bank | $190,000 | n/a | 0.1% | |
21ST MORTGAGE CORPORATION | $840,000 | $185,000 | -78.0% | 0.1% |
Gateway First Bank | $185,000 | n/a | 0.1% | |
United Bank | $185,000 | n/a | 0.1% | |
Suncoast Credit Union | $175,000 | n/a | 0.1% | |
VILLAGE CAPITAL MORTGAGE | $45,000 | $175,000 | 288.9% | 0.1% |
Summit Credit Union | $15,000 | $170,000 | 1,033.3% | 0.1% |
ALLIED MORTGAGE GROUP, INC. | $165,000 | n/a | 0.1% | |
American National Bank and Trust Company | $165,000 | n/a | 0.1% | |
Nations Lending Corporation | $845,000 | $165,000 | -80.5% | 0.1% |
EQUITY RESOURCES, INC. | $205,000 | $155,000 | -24.4% | 0.1% |
RAPID MORTGAGE COMPANY | $155,000 | n/a | 0.1% | |
ROSS MORTGAGE CORPORATION | $155,000 | n/a | 0.1% | |
USAA Federal Savings Bank | $185,000 | $145,000 | -21.6% | 0.1% |
U.S. Bank | $485,000 | $145,000 | -70.1% | 0.1% |
LOANPAL, LLC | $370,000 | $135,000 | -63.5% | 0.1% |
Alcova Mortgage LLC | $980,000 | $125,000 | -87.2% | 0.1% |
BAY EQUITY LLC | $125,000 | n/a | 0.1% | |
Figure Lending LLC | $85,000 | $125,000 | 47.1% | 0.1% |
Wolfe Financial, Inc | $175,000 | $125,000 | -28.6% | 0.1% |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $410,000 | $120,000 | -70.7% | 0.1% |
Citadel Servicing Corporation | $115,000 | n/a | 0.1% | |
Integrity Home Mortgage Corp | $115,000 | n/a | 0.1% | |
LAKEVIEW LOAN SERVICING, LLC | $720,000 | $115,000 | -84.0% | 0.1% |
North State Bank | $115,000 | n/a | 0.1% | |
The Fidelity Bank | $540,000 | $115,000 | -78.7% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $785,000 | $110,000 | -86.0% | 0.1% |
First American Bank | $105,000 | n/a | 0.1% | |
NATIONWIDE MORTGAGE BANKERS, INC. | $105,000 | n/a | 0.1% | |
South State Bank | $420,000 | $105,000 | -75.0% | 0.1% |
HomeTrust Bank | $95,000 | n/a | 0.0% | |
PIEDMONT ADVANTAGE CREDIT UNION | $95,000 | n/a | 0.0% | |
Third Federal Savings and Loan Association of Cleveland | $80,000 | n/a | 0.0% | |
Peoples Bank | $75,000 | n/a | 0.0% | |
PHH Mortgage Corporation | $95,000 | $65,000 | -31.6% | 0.0% |
Lakeview Community Capital, LLC | $60,000 | n/a | 0.0% | |
WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION | $55,000 | n/a | 0.0% | |
TEACHERS | $45,000 | n/a | 0.0% | |
Deere Employees Credit Union | $320,000 | $35,000 | -89.1% | 0.0% |
COASTAL Federal Credit Union | $195,000 | $25,000 | -87.2% | 0.0% |
Mount Airy's top lender by overall market share is STATE EMPLOYEES', with 18.5% market share. In second place, with 7.3%, is ATLANTIC BAY MORTGAGE GROUP, L.L.C., having originated $14,310,000 in loans. In third place, with 4.7%, is EMM LOANS LLC, having originated $9,175,000 in loans. In fourth place, with 4.2%, is QUICKEN LOANS, LLC, having originated $8,190,000 in loans. In fifth place, with 3.9%, is Truist, having originated $7,775,000 in loans.
Mount Airy, NC Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 651 | $133,415,000 | $204,939 |
Home Improvement | 172 | $13,780,000 | $80,116 |
Refi | 170 | $20,720,000 | $121,882 |
Other | 153 | $12,145,000 | $79,379 |
Cash Out Refi | 97 | $16,945,000 | $174,691 |
Mount Airy's most frequently cited loan purpose was Home Purchase, with 651 originations. The 2nd most popular reason was Home Improvement, with 172 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 364 | $77,740,000 | $213,571 |
7-8% | 325 | $48,975,000 | $150,692 |
5-6% | 206 | $36,720,000 | $178,252 |
Over 8% | 138 | $15,430,000 | $111,812 |
4-5% | 135 | $12,495,000 | $92,556 |
<2.5% | 57 | $3,745,000 | $65,702 |
2.5-3% | 3 | $345,000 | $115,000 |
During 2023, Mount Airy's most frequently originated rate bucket was 6-7%, with 364 originations.
Loan Sizing (Mount Airy, NC MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 470 | $68,500,000 | $145,745 |
$100,000 or less | 422 | $22,560,000 | $53,460 |
$200k-400k | 300 | $78,370,000 | $261,233 |
$400k-600k | 38 | $18,010,000 | $473,947 |
$600k-1000k | 13 | $9,565,000 | $735,769 |
Mount Airy's loan sizing saw the bucket of loans from $100k-200k with 470 originations, totaling $68,500,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 476 | $106,330,000 | $223,382 |
20-40% | 213 | $17,715,000 | $83,169 |
60-80% | 200 | $39,260,000 | $196,300 |
Under 20% | 186 | $7,210,000 | $38,763 |
40-60% | 133 | $19,845,000 | $149,211 |
Over 100% | 23 | $4,845,000 | $210,652 |
Mount Airy's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 476 originations, totaling $106,330,000 in origination value.