Murray Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Murray averaged 7.22% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

    The average rate for the prior week (2023-09-07) was 6.76% and one month ago for the week of 2023-08-10, the average rate was 6.6%.

    Murray's average rate one year ago was 5.53%.

    For refis of the same type during the week of 2023-09-14, the average rate was 7.48%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-14 7.18%
    Murray 30 Year Fixed Rate 2023-09-14 7.22%
    Murray 30 Year Fixed Rate Refi 2023-09-14 7.48%
    Murray 15 Year Fixed Rate 2023-09-14 6.51%
    Murray 15 Year Fixed Rate Refi 2023-09-14 6.91%
    Murray 30 Year FHA 2023-09-14 6.99%
    Murray 30 Year FHA Refi 2023-09-14 6.99%
    Murray 30 Year USDA 2023-09-14 6.78%
    Murray 30 Year USDA Refi 2023-09-14 6.78%
    Murray 30 Year VA 2023-09-14 6.61%
    Murray 30 Year VA Refi 2023-09-14 6.91%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Murray, KY.

    Murray 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 Murray, KY 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
    U.S. Bank 30 4.99% $3,622
    CRESCENT MORTGAGE COMPANY 18 4.82% $3,152
    QUICKEN LOANS, LLC 16 5.55% $6,247
    Independence Bank of Kentucky 13 4.44% $2,411
    UNITED WHOLESALE MORTGAGE, LLC 12 5.66% $4,280
    Magnolia Bank 8 4.84% $2,857
    Truist 8 5.06% $3,018
    First Financial Bank 7 4.73% $4,144
    GERSHMAN INVESTMENT CORP. 7 5.77% $2,743
    Regions Bank 5 4.93% $3,315
    LOANDEPOT.COM, LLC 4 5.44% $3,977
    GUARANTY HOME MORTGAGE CORPORATION 4 3.56% $3,918
    FREEDOM MORTGAGE CORPORATION 3 5.04% $5,078
    AMERISAVE MORTGAGE CORPORATION 3 4.00% $6,332
    FirstTrust Home Loans, Inc. 3 6.96% $3,332
    JPMorgan Chase Bank 3 3.25% $2,416
    STOCKTON MORTGAGE CORPORATION 3 5.25% $4,682
    Citizens Bank 3 4.88% $3,126
    AgFirst Farm Credit Bank 2 4.50% $3,286
    COMPASS MORTGAGE, INC. 2 6.44% $5,264
    MOVEMENT MORTGAGE, LLC 2 3.91% $4,989
    Flagstar Bank, FSB 2 3.93% $4,683
    NAVY FEDERAL CREDIT UNION 2 4.75% $1,956
    Bank of America 2 4.06% $4,026
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.94% $6,015
    River Valley AgCredit, ACA 2 7.35% $6,056
    Simmons Bank 2 5.50% $6,293
    BROKER SOLUTIONS, INC. 2 3.81% $5,459
    FIRST COMMUNITY MORTGAGE, INC. 2 4.56% $4,704
    Horizon Bank 2 4.94% $3,174
    SOUTHWEST FUNDING, LP 1 6.13% $7,991
    THRIVENT Federal Credit Union 1 5.00% $2,801
    USAA Federal Savings Bank 1 5.00% $4,692
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.25% $3,770
    Wells Fargo Bank 1 4.38% $3,349
    Wyndham Capital Mortgage, Inc. 1 4.99% $5,946
    Ally Bank 1 3.63% $2,100
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $2,847
    AMERICAN FINANCING CORPORATION 1 3.13% $4,988
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.88% $4,611
    BETTER MORTGAGE CORPORATION 1 3.25% $3,363
    BMO Harris Bank 1 4.50% $5,791
    CHURCHILL MORTGAGE CORPORATION 1 5.50% $2,614
    Clear Mountain Bank 1 3.75% $3,409
    CMG MORTGAGE, INC. 1 7.13% $4,940
    COMMUNITY MORTGAGE CORPORATION 1 4.99% $6,912
    Discover Bank 1 6.99% $0
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.49% $1,715
    Farm Credit Mid-America, ACA 1 3.65% $2,349
    Fifth Third Bank 1 4.99% $5,697
    First Horizon Bank 1 3.38% $2,995
    First National Bank of Omaha 1 6.50% $3,142
    Flanagan State Bank 1 5.88% $2,452
    Forcht Bank 1 6.00% $4,258
    GREAT RIVER FEDERAL CREDIT UNION 1 4.49% $7,767
    GUARANTEED RATE, INC. 1 3.50% $6,321
    HOME POINT FINANCIAL CORPORATION 1 5.75% $5,813
    INTERLINC MORTGAGE SERVICES, LLC 1 6.63% $4,768
    Mortgage Research Center, LLC 1 7.13% $4,819
    M&T Bank 1 4.00% $7,245
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $5,057
    MYCUMORTGAGE, LLC 1 5.25% $4,417
    PENNYMAC LOAN SERVICES, LLC 1 5.37% $5,100
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $3,531
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.50% $3,162

    Murray Average Closing Costs & Other Stats

    Murray, KY's 65 lenders originated 624 loans during 2022. The total origination value was $121,140,000, with an average loan value of $194,135.

    Murray's average closing costs are $4,035.

    The top Murray lender as defined by loan originations is U.S. Bank, with 30 loans originated. Their average total fees are $3,622, which is $470 higher than the next largest lender, CRESCENT MORTGAGE COMPANY.

    The lowest fee Murray lenders (with over 10 loans originated) are Independence Bank of Kentucky ($2,411), CRESCENT MORTGAGE COMPANY ($3,152), U.S. Bank ($3,622), UNITED WHOLESALE MORTGAGE, LLC ($4,280) and QUICKEN LOANS, LLC ($6,247).

    The lowest rate Murray lenders (with over 10 loans originated) are Independence Bank of Kentucky (4.44%), CRESCENT MORTGAGE COMPANY (4.82%), U.S. Bank (4.99%), QUICKEN LOANS, LLC (5.55%) and UNITED WHOLESALE MORTGAGE, LLC (5.66%).

    Murray, KY 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
    FNB Bank, Inc. $8,655,000 $10,395,000 20.1% 8.6%
    U.S. Bank $14,630,000 $8,930,000 -39.0% 7.4%
    QUICKEN LOANS, LLC $14,555,000 $7,165,000 -50.8% 5.9%
    Independence Bank of Kentucky $6,420,000 $6,565,000 2.3% 5.4%
    CRESCENT MORTGAGE COMPANY $13,120,000 $6,365,000 -51.5% 5.3%
    Magnolia Bank $7,110,000 $5,170,000 -27.3% 4.3%
    UNITED WHOLESALE MORTGAGE, LLC $2,460,000 $4,125,000 67.7% 3.4%
    Truist $4,705,000 $3,760,000 -20.1% 3.1%
    Regions Bank $5,210,000 $3,535,000 -32.1% 2.9%
    FREEDOM MORTGAGE CORPORATION $5,690,000 $3,060,000 -46.2% 2.5%
    Mortgage Research Center, LLC $5,200,000 $2,785,000 -46.4% 2.3%
    GERSHMAN INVESTMENT CORP. $2,220,000 $2,440,000 9.9% 2.0%
    First Financial Bank $3,015,000 $2,330,000 -22.7% 1.9%
    LOANDEPOT.COM, LLC $5,560,000 $1,835,000 -67.0% 1.5%
    JPMorgan Chase Bank $845,000 $1,830,000 116.6% 1.5%
    STOCKTON MORTGAGE CORPORATION $3,395,000 $1,825,000 -46.2% 1.5%
    GUARANTY HOME MORTGAGE CORPORATION $2,600,000 $1,775,000 -31.7% 1.5%
    River Valley AgCredit, ACA $125,000 $1,625,000 1,200.0% 1.3%
    Fifth Third Bank $650,000 $1,455,000 123.8% 1.2%
    NAVY FEDERAL CREDIT UNION $910,000 $1,450,000 59.3% 1.2%
    Bank of Hillsboro $1,375,000 n/a 1.1%
    AMERISAVE MORTGAGE CORPORATION $2,855,000 $1,275,000 -55.3% 1.1%
    MID AMERICA MORTGAGE, INC. $1,150,000 $1,130,000 -1.7% 0.9%
    AgFirst Farm Credit Bank $2,220,000 $1,030,000 -53.6% 0.9%
    F&M Bank $1,405,000 $985,000 -29.9% 0.8%
    FirstTrust Home Loans, Inc. $960,000 n/a 0.8%
    Planters Bank, Inc. $5,000 $950,000 18,900.0% 0.8%
    USAA Federal Savings Bank $1,385,000 $910,000 -34.3% 0.8%
    The Federal Savings Bank $225,000 $835,000 271.1% 0.7%
    Bank of England $105,000 $805,000 666.7% 0.7%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $805,000 n/a 0.7%
    Simmons Bank $135,000 $800,000 492.6% 0.7%
    POLARIS HOME FUNDING CORP. $770,000 n/a 0.6%
    FIELD & MAIN BANK, INC. $730,000 n/a 0.6%
    PENNYMAC LOAN SERVICES, LLC $1,295,000 $725,000 -44.0% 0.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $135,000 $690,000 411.1% 0.6%
    Sunflower Bank $645,000 n/a 0.5%
    HOME POINT FINANCIAL CORPORATION $350,000 $595,000 70.0% 0.5%
    21ST MORTGAGE CORPORATION $380,000 $590,000 55.3% 0.5%
    MOVEMENT MORTGAGE, LLC $570,000 n/a 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $105,000 $545,000 419.0% 0.4%
    COMPASS MORTGAGE, INC. $530,000 n/a 0.4%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $530,000 n/a 0.4%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $815,000 $500,000 -38.7% 0.4%
    Wells Fargo Bank $1,995,000 $500,000 -74.9% 0.4%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $2,850,000 $440,000 -84.6% 0.4%
    Bank of America $705,000 $435,000 -38.3% 0.4%
    Flagstar Bank, FSB $125,000 $410,000 228.0% 0.3%
    Citizens Bank $360,000 $405,000 12.5% 0.3%
    GREAT RIVER FEDERAL CREDIT UNION $405,000 n/a 0.3%
    INTERLINC MORTGAGE SERVICES, LLC $405,000 n/a 0.3%
    Horizon Bank $400,000 n/a 0.3%
    GUARANTEED RATE, INC. $380,000 $395,000 3.9% 0.3%
    Owen County State Bank $395,000 n/a 0.3%
    NEW DAY FINANCIAL, LLC $430,000 $390,000 -9.3% 0.3%
    Equity Prime Mortgage LLC $375,000 n/a 0.3%
    PENTAGON FEDERAL CREDIT UNION $365,000 n/a 0.3%
    EVERETT FINANCIAL, INC. $540,000 $360,000 -33.3% 0.3%
    FIRST COMMUNITY MORTGAGE, INC. $975,000 $360,000 -63.1% 0.3%
    Mr. Cooper ( Nationstar Mortgage ) $1,470,000 $335,000 -77.2% 0.3%
    Armed Forces Bank $325,000 n/a 0.3%
    Clear Mountain Bank $325,000 n/a 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $135,000 $325,000 140.7% 0.3%
    BROKER SOLUTIONS, INC. $1,025,000 $310,000 -69.8% 0.3%
    Farmers Bank and Trust Company $285,000 n/a 0.2%
    ROUNDPOINT MORTGAGE SERVICING CORPORATION $275,000 n/a 0.2%
    FirstBank $1,530,000 $270,000 -82.4% 0.2%
    RELIANCE FIRST CAPITAL, LLC $255,000 n/a 0.2%
    WesBanco Bank, Inc. $255,000 n/a 0.2%
    Ally Bank $85,000 $245,000 188.2% 0.2%
    BMO Harris Bank $235,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $545,000 $235,000 -56.9% 0.2%
    MYCUMORTGAGE, LLC $895,000 $230,000 -74.3% 0.2%
    Commercial Bank & Trust Co. $475,000 $225,000 -52.6% 0.2%
    ZILLOW HOME LOANS, LLC $225,000 n/a 0.2%
    First National Bank of Omaha $205,000 n/a 0.2%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $205,000 n/a 0.2%
    Third Federal Savings and Loan Association of Cleveland $205,000 n/a 0.2%
    UNION HOME MORTGAGE CORP. $205,000 n/a 0.2%
    Wyndham Capital Mortgage, Inc. $195,000 $205,000 5.1% 0.2%
    AMERICAN FINANCIAL RESOURCES, INC. $190,000 n/a 0.2%
    Century Mortgage Company DBA Century Lending Company $315,000 $185,000 -41.3% 0.2%
    First Horizon Bank $185,000 n/a 0.2%
    Flanagan State Bank $215,000 $185,000 -14.0% 0.2%
    EVANSVILLE TEACHERS $125,000 $180,000 44.0% 0.1%
    COMMUNITY MORTGAGE CORPORATION $165,000 n/a 0.1%
    SOUTHWEST FUNDING, LP $165,000 n/a 0.1%
    First Harrison Bank $155,000 n/a 0.1%
    NFM, INC. $155,000 n/a 0.1%
    THRIVENT Federal Credit Union $155,000 n/a 0.1%
    AMERICAN FINANCING CORPORATION $395,000 $145,000 -63.3% 0.1%
    ASCEND FEDERAL CREDIT UNION $145,000 n/a 0.1%
    M&T Bank $145,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $145,000 n/a 0.1%
    SouthernTrust Bank $135,000 n/a 0.1%
    VILLAGE CAPITAL MORTGAGE $85,000 $135,000 58.8% 0.1%
    CHURCHILL MORTGAGE CORPORATION $555,000 $115,000 -79.3% 0.1%
    Forcht Bank $115,000 n/a 0.1%
    BETTER MORTGAGE CORPORATION $605,000 $105,000 -82.6% 0.1%
    Nations Lending Corporation $255,000 $95,000 -62.7% 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $710,000 $95,000 -86.6% 0.1%
    CMG MORTGAGE, INC. $505,000 $85,000 -83.2% 0.1%
    Discover Bank $175,000 $85,000 -51.4% 0.1%
    First State Bank of Forrest $85,000 n/a 0.1%
    LAKEVIEW LOAN SERVICING, LLC $135,000 $85,000 -37.0% 0.1%
    PHH Mortgage Corporation $85,000 n/a 0.1%
    The Huntington National Bank $75,000 n/a 0.1%
    COMMONWEALTH $55,000 $70,000 27.3% 0.1%
    Deere Employees Credit Union $70,000 n/a 0.1%
    AMERICAN ADVISORS GROUP $55,000 n/a 0.0%
    Farm Credit Mid-America, ACA $990,000 $55,000 -94.4% 0.0%

    Murray's top lender by overall market share is FNB Bank, Inc., with 8.6% market share. In second place, with 7.4%, is U.S. Bank, having originated $8,930,000 in loans. In third place, with 5.9%, is QUICKEN LOANS, LLC, having originated $7,165,000 in loans. In fourth place, with 5.4%, is Independence Bank of Kentucky, having originated $6,565,000 in loans. In fifth place, with 5.3%, is CRESCENT MORTGAGE COMPANY, having originated $6,365,000 in loans.

    Murray, KY Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 367 $85,255,000 $232,302
    Refi 88 $11,430,000 $129,886
    Cash Out Refi 87 $15,955,000 $183,391
    Other 51 $6,085,000 $119,314
    Home Improvement 31 $2,415,000 $77,903

    Murray's most frequently cited loan purpose was Home Purchase, with 367 originations. The 2nd most popular reason was Refi, with 88 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 150 $25,710,000 $171,400
    3-4% 143 $24,125,000 $168,706
    4-5% 126 $24,260,000 $192,540
    6-7% 68 $13,090,000 $192,500
    7-8% 32 $4,540,000 $141,875
    2.5-3% 30 $6,180,000 $206,000
    <2.5% 4 $1,860,000 $465,000
    Over 8% 3 $175,000 $58,333

    During 2022, Murray's most frequently originated rate bucket was 5-6%, with 150 originations.

    Loan Sizing (Murray, KY MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 244 $36,380,000 $149,098
    $200k-400k 173 $45,645,000 $263,844
    $100,000 or less 171 $10,445,000 $61,082
    $400k-600k 22 $9,940,000 $451,818
    $600k-1000k 10 $7,220,000 $722,000
    $Over $1MM 4 $11,510,000 $2,877,500

    Murray's loan sizing saw the bucket of loans from $100k-200k with 244 originations, totaling $36,380,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 243 $49,695,000 $204,506
    60-80% 146 $32,880,000 $225,205
    40-60% 61 $8,995,000 $147,459
    Under 20% 47 $1,445,000 $30,745
    20-40% 42 $3,250,000 $77,381
    Over 100% 9 $2,585,000 $287,222

    Murray's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 243 originations, totaling $49,695,000 in origination value.