Newport Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Newport averaged
6.69%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
7.01% and
one month ago for the week of 2024-06-13, the
average rate was 6.87%.
Newport's average rate one year ago was 6.88%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.67%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Newport 30 Year Fixed Rate | 2024-07-18 | 6.69% |
| Newport 30 Year Fixed Rate Refi | 2024-07-18 | 6.67% |
| Newport 15 Year Fixed Rate | 2024-07-18 | 5.85% |
| Newport 15 Year Fixed Rate Refi | 2024-07-18 | 6.35% |
| Newport 30 Year FHA | 2024-07-18 | 6.59% |
| Newport 30 Year FHA Refi | 2024-07-18 | 6.59% |
| Newport 30 Year USDA | 2024-07-18 | 6.53% |
| Newport 30 Year USDA Refi | 2024-07-18 | 6.83% |
| Newport 30 Year VA | 2024-07-18 | 6.3% |
| Newport 30 Year VA Refi | 2024-07-18 | 6.4% |
Newport 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 Newport, OR 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.).
Newport Average Closing Costs & Other Stats
Newport, OR's 106 lenders originated 1,053
loans during 2023. The total origination value was $300,315,000, with an average loan value of
$285,199.
Newport's average closing costs are $6,412.
The top Newport lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
35 loans originated. Their average total fees are
$9,109, which is $1,249
higher than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Newport lenders (with over 10 loans originated) are
OnPoint Community Credit Union ($6,038), Oregon State Credit Union ($6,306), Umpqua Bank ($7,429), U.S. Bank ($7,464) and LPMC, LLC ($7,483).
The lowest rate Newport lenders (with over 10 loans originated) are
Sierra Pacific Mortgage Company, Inc. (6.16%), Century Mortgage Company DBA Century Lending Company (6.17%), OnPoint Community Credit Union (6.63%), LPMC, LLC (6.64%) and EVERGREEN MONEYSOURCE MORTGAGE COMPANY (6.68%).
Newport, OR 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 |
|---|---|---|---|---|
| CROSSCOUNTRY MORTGAGE, LLC | $19,415,000 | $15,185,000 | -21.8% | 5.1% |
| GUILD MORTGAGE COMPANY | $17,210,000 | $14,625,000 | -15.0% | 4.9% |
| QUICKEN LOANS, LLC | $29,880,000 | $14,070,000 | -52.9% | 4.7% |
| Umpqua Bank | $24,500,000 | $13,825,000 | -43.6% | 4.6% |
| UNITED WHOLESALE MORTGAGE, LLC | $24,680,000 | $12,980,000 | -47.4% | 4.3% |
| EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $17,015,000 | $10,800,000 | -36.5% | 3.6% |
| U.S. Bank | $19,330,000 | $9,180,000 | -52.5% | 3.1% |
| Oregon State Credit Union | $9,910,000 | $8,425,000 | -15.0% | 2.8% |
| Sierra Pacific Mortgage Company, Inc. | $12,320,000 | $7,180,000 | -41.7% | 2.4% |
| CHURCHILL MORTGAGE CORPORATION | $8,275,000 | $6,080,000 | -26.5% | 2.0% |
| NEWREZ LLC | $2,415,000 | $5,795,000 | 140.0% | 1.9% |
| OnPoint Community Credit Union | $11,415,000 | $5,540,000 | -51.5% | 1.8% |
| LPMC, LLC | $8,850,000 | $5,170,000 | -41.6% | 1.7% |
| Washington Federal Bank | $10,630,000 | $5,055,000 | -52.4% | 1.7% |
| FIBRE FEDERAL CREDIT UNION | $8,910,000 | $5,020,000 | -43.7% | 1.7% |
| Century Mortgage Company DBA Century Lending Company | $480,000 | $4,925,000 | 926.0% | 1.6% |
| Wells Fargo Bank | $13,190,000 | $4,490,000 | -66.0% | 1.5% |
| MANN FINANCIAL INC. | $2,465,000 | $4,230,000 | 71.6% | 1.4% |
| NATIONS DIRECT MORTGAGE, LLC | $4,940,000 | $4,150,000 | -16.0% | 1.4% |
| Bank of America | $4,130,000 | $4,130,000 | 0.0% | 1.4% |
| HOMEXPRESS MORTGAGE CORP. | $760,000 | $3,890,000 | 411.8% | 1.3% |
| MOVEMENT MORTGAGE, LLC | $6,255,000 | $3,365,000 | -46.2% | 1.1% |
| First Federal | $3,285,000 | n/a | 1.1% | |
| DIRECTORS MORTGAGE, INC. | $7,040,000 | $3,230,000 | -54.1% | 1.1% |
| PENNYMAC LOAN SERVICES, LLC | $4,570,000 | $3,220,000 | -29.5% | 1.1% |
| BMO Harris Bank | $3,155,000 | n/a | 1.1% | |
| JPMorgan Chase Bank | $4,575,000 | $3,015,000 | -34.1% | 1.0% |
| S1L, Inc. | $1,850,000 | $3,010,000 | 62.7% | 1.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,680,000 | $2,940,000 | -20.1% | 1.0% |
| USAA Federal Savings Bank | $2,505,000 | $2,780,000 | 11.0% | 0.9% |
| CMG MORTGAGE, INC. | $4,310,000 | $2,675,000 | -37.9% | 0.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,530,000 | $2,510,000 | -66.7% | 0.8% |
| ACADEMY MORTGAGE CORPORATION | $3,085,000 | $2,490,000 | -19.3% | 0.8% |
| Commerce Home Mortgage, Inc. | $2,610,000 | $2,395,000 | -8.2% | 0.8% |
| LOANDEPOT.COM, LLC | $9,830,000 | $2,250,000 | -77.1% | 0.7% |
| ENVOY MORTGAGE, LTD | $3,205,000 | $2,195,000 | -31.5% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $2,115,000 | $2,060,000 | -2.6% | 0.7% |
| RED CANOE CREDIT UNION | $910,000 | $2,030,000 | 123.1% | 0.7% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $2,465,000 | $1,975,000 | -19.9% | 0.7% |
| MORTGAGE EXPRESS, LLC | $2,865,000 | $1,965,000 | -31.4% | 0.7% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $1,325,000 | $1,885,000 | 42.3% | 0.6% |
| First-Citizens Bank & Trust Company | $1,850,000 | n/a | 0.6% | |
| Charles Schwab Bank, SSB | $2,220,000 | $1,710,000 | -23.0% | 0.6% |
| Banner Bank | $2,845,000 | $1,675,000 | -41.1% | 0.6% |
| CALIBER HOME LOANS, INC. | $13,280,000 | $1,650,000 | -87.6% | 0.5% |
| Willamette Valley Bank | $2,195,000 | $1,605,000 | -26.9% | 0.5% |
| SUMMIT FUNDING, INC. | $3,645,000 | $1,535,000 | -57.9% | 0.5% |
| TRIAD FINANCIAL SERVICES, INC. | $350,000 | $1,535,000 | 338.6% | 0.5% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $430,000 | $1,495,000 | 247.7% | 0.5% |
| 1st Security Bank of Washington | $2,380,000 | $1,430,000 | -39.9% | 0.5% |
| Mortgage Research Center, LLC | $5,640,000 | $1,420,000 | -74.8% | 0.5% |
| OREGON COMMUNITY | $2,080,000 | $1,410,000 | -32.2% | 0.5% |
| CORNERSTONE HOME LENDING, INC. | $1,385,000 | n/a | 0.5% | |
| GUARANTEED RATE, INC. | $2,255,000 | $1,380,000 | -38.8% | 0.5% |
| ARC HOME LLC | $265,000 | $1,315,000 | 396.2% | 0.4% |
| FIRST TECHNOLOGY | $4,950,000 | $1,315,000 | -73.4% | 0.4% |
| Heritage Bank | $535,000 | $1,280,000 | 139.3% | 0.4% |
| Morgan Stanley Private Bank | $1,180,000 | $1,280,000 | 8.5% | 0.4% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,840,000 | $1,275,000 | -30.7% | 0.4% |
| Flagstar Bank, FSB | $8,035,000 | $1,245,000 | -84.5% | 0.4% |
| Zions Bank | $990,000 | $1,210,000 | 22.2% | 0.4% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,970,000 | $1,190,000 | -39.6% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $4,845,000 | $1,185,000 | -75.5% | 0.4% |
| The Federal Savings Bank | $1,055,000 | $1,110,000 | 5.2% | 0.4% |
| HomeStreet Bank | $17,755,000 | $1,105,000 | -93.8% | 0.4% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $1,090,000 | n/a | 0.4% | |
| PANORAMA MORTGAGE GROUP, LLC | $345,000 | $1,075,000 | 211.6% | 0.4% |
| Nations Lending Corporation | $2,270,000 | $1,065,000 | -53.1% | 0.4% |
| SUCCESS MORTGAGE PARTNERS, INC. | $1,055,000 | n/a | 0.4% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $850,000 | $995,000 | 17.1% | 0.3% |
| UNION HOME MORTGAGE CORP. | $965,000 | n/a | 0.3% | |
| CALCON MUTUAL MORTGAGE LLC | $925,000 | n/a | 0.3% | |
| Northwest Farm Credit Services, FLCA | $705,000 | $905,000 | 28.4% | 0.3% |
| SUMMIT MORTGAGE CORPORATION | $1,155,000 | $895,000 | -22.5% | 0.3% |
| KINECTA | $815,000 | n/a | 0.3% | |
| CARDINAL FINANCIAL | $1,520,000 | $775,000 | -49.0% | 0.3% |
| AMERICAN HERITAGE LENDING, INC. | $755,000 | n/a | 0.3% | |
| Hometown Equity Mortgage, LLC | $435,000 | $745,000 | 71.3% | 0.2% |
| Farmers Bank & Trust | $730,000 | n/a | 0.2% | |
| ON Q FINANCIAL, INC. | $335,000 | $730,000 | 117.9% | 0.2% |
| IDAHO CENTRAL | $1,150,000 | $725,000 | -37.0% | 0.2% |
| ONY GLO, INC. | $850,000 | $725,000 | -14.7% | 0.2% |
| SAMMAMISH MORTGAGE COMPANY | $485,000 | $725,000 | 49.5% | 0.2% |
| American Airlines Federal Credit Union | $580,000 | $720,000 | 24.1% | 0.2% |
| BETTER MORTGAGE CORPORATION | $1,175,000 | $720,000 | -38.7% | 0.2% |
| COREVEST AMERICAN FINANCE LENDER LLC | $705,000 | n/a | 0.2% | |
| FINANCE OF AMERICA REVERSE LLC | $685,000 | n/a | 0.2% | |
| COLUMBIA COMMUNITY CREDIT UNION | $225,000 | $680,000 | 202.2% | 0.2% |
| NEW DAY FINANCIAL, LLC | $2,030,000 | $660,000 | -67.5% | 0.2% |
| Discover Bank | $245,000 | $655,000 | 167.3% | 0.2% |
| First Interstate Bank | $1,980,000 | $650,000 | -67.2% | 0.2% |
| PNC Bank | $620,000 | n/a | 0.2% | |
| FIRST COMMUNITY | $355,000 | $605,000 | 70.4% | 0.2% |
| Bank of the West | $6,300,000 | $575,000 | -90.9% | 0.2% |
| Northpointe Bank | $790,000 | $550,000 | -30.4% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $830,000 | $525,000 | -36.7% | 0.2% |
| EVERETT FINANCIAL, INC. | $305,000 | $520,000 | 70.5% | 0.2% |
| KeyBank | $5,085,000 | $505,000 | -90.1% | 0.2% |
| MID AMERICA MORTGAGE, INC. | $265,000 | $490,000 | 84.9% | 0.2% |
| VERITAS FUNDING, LLC | $640,000 | $485,000 | -24.2% | 0.2% |
| General Mortgage Capital Corporation | $475,000 | n/a | 0.2% | |
| SUN WEST MORTGAGE COMPANY, INC. | $490,000 | $475,000 | -3.1% | 0.2% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $1,150,000 | $465,000 | -59.6% | 0.2% |
| ALLIED MORTGAGE GROUP, INC. | $455,000 | n/a | 0.2% | |
| Evolve Bank & Trust | $455,000 | n/a | 0.2% | |
| PHH Mortgage Corporation | $1,015,000 | $450,000 | -55.7% | 0.1% |
| ROGUE | $665,000 | $450,000 | -32.3% | 0.1% |
| T2 FINANCIAL LLC | $445,000 | n/a | 0.1% | |
| iQ Credit Union | $590,000 | $430,000 | -27.1% | 0.1% |
| Plains Commerce Bank | $375,000 | $430,000 | 14.7% | 0.1% |
| People's Bank of Commerce | $215,000 | $425,000 | 97.7% | 0.1% |
| Citadel Servicing Corporation | $225,000 | $420,000 | 86.7% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $590,000 | $415,000 | -29.7% | 0.1% |
| CANOPY MORTGAGE, LLC | $575,000 | $410,000 | -28.7% | 0.1% |
| Figure Lending LLC | $180,000 | $410,000 | 127.8% | 0.1% |
| NP, Inc. | $405,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $405,000 | n/a | 0.1% | |
| INTERCAP LENDING INC. | $175,000 | $395,000 | 125.7% | 0.1% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $855,000 | $380,000 | -55.6% | 0.1% |
| SOVEREIGN LENDING GROUP INCORPORATED | $375,000 | n/a | 0.1% | |
| City National Bank | $365,000 | n/a | 0.1% | |
| FOUNDATION MORTGAGE CORPORATION | $365,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $365,000 | n/a | 0.1% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $395,000 | $355,000 | -10.1% | 0.1% |
| Glacier Bank | $355,000 | n/a | 0.1% | |
| MOUNTAIN AMERICA | $470,000 | $350,000 | -25.5% | 0.1% |
| GENEVA FINANCIAL, LLC | $730,000 | $345,000 | -52.7% | 0.1% |
| NOVA FINANCIAL & INVESTMENT CORPORATION | $345,000 | n/a | 0.1% | |
| COMMUNITY MORTGAGE FUNDING, LLC | $335,000 | n/a | 0.1% | |
| NEXERA HOLDING LLC | $405,000 | $325,000 | -19.8% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $315,000 | n/a | 0.1% | |
| PENRITH HOME LOANS LLC | $315,000 | n/a | 0.1% | |
| ZILLOW HOME LOANS, LLC | $1,750,000 | $315,000 | -82.0% | 0.1% |
| Rivermark Community Credit Union | $875,000 | $310,000 | -64.6% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $305,000 | n/a | 0.1% | |
| BAY-VALLEY MORTGAGE GROUP | $305,000 | n/a | 0.1% | |
| M&T Bank | $315,000 | $305,000 | -3.2% | 0.1% |
| OPEN MORTGAGE, LLC | $1,250,000 | $305,000 | -75.6% | 0.1% |
| HomeTrust Bank | $290,000 | n/a | 0.1% | |
| Qualstar Credit Union | $285,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $285,000 | n/a | 0.1% | |
| Coastal Community Bank | $280,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $335,000 | $275,000 | -17.9% | 0.1% |
| AMERICAN FINANCING CORPORATION | $440,000 | $265,000 | -39.8% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $4,980,000 | $265,000 | -94.7% | 0.1% |
| SELCO COMMUNITY | $505,000 | $260,000 | -48.5% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $1,085,000 | $255,000 | -76.5% | 0.1% |
| ALL REVERSE MORTGAGE, INC. | $235,000 | $225,000 | -4.3% | 0.1% |
| Core Bank | $225,000 | n/a | 0.1% | |
| GEORGIA'S OWN | $205,000 | n/a | 0.1% | |
| MARION AND POLK SCHOOLS CREDIT UNION | $860,000 | $205,000 | -76.2% | 0.1% |
| Alaska USA Federal Credit Union | $195,000 | n/a | 0.1% | |
| CHARTWAY FEDERAL CREDIT UNION | $205,000 | $195,000 | -4.9% | 0.1% |
| NETWORK CAPITAL FUNDING CORPORATION | $315,000 | $195,000 | -38.1% | 0.1% |
| TWINSTAR | $195,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $1,325,000 | $185,000 | -86.0% | 0.1% |
| HERITAGE GROVE Federal Credit Union | $65,000 | $175,000 | 169.2% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $1,085,000 | $175,000 | -83.9% | 0.1% |
| LIMA ONE CAPITAL, LLC | $165,000 | n/a | 0.1% | |
| Unitus Community Credit Union | $815,000 | $150,000 | -81.6% | 0.0% |
| HORIZON | $145,000 | n/a | 0.0% | |
| GTE Federal Credit Union | $140,000 | n/a | 0.0% | |
| ADVANTIS | $510,000 | $125,000 | -75.5% | 0.0% |
| CHERRY CREEK MORTGAGE, LLC | $980,000 | $115,000 | -88.3% | 0.0% |
| Chickasaw Community Bank | $105,000 | $105,000 | 0.0% | 0.0% |
| Citizens Bank | $105,000 | n/a | 0.0% | |
| First Federal Bank | $105,000 | n/a | 0.0% | |
| 21ST MORTGAGE CORPORATION | $430,000 | $95,000 | -77.9% | 0.0% |
| Mid Oregon Federal Credit Union | $85,000 | n/a | 0.0% | |
| CENTRAL WILLAMETTE Credit Union | $340,000 | $75,000 | -77.9% | 0.0% |
| WASHINGTON STATE EMPLOYEES Credit Union | $525,000 | $65,000 | -87.6% | 0.0% |
| Boeing Employees Credit Union | $365,000 | $60,000 | -83.6% | 0.0% |
| Lakeview Community Capital, LLC | $280,000 | $55,000 | -80.4% | 0.0% |
| OREGONIANS CREDIT UNION | $85,000 | $55,000 | -35.3% | 0.0% |
| SPRING EQ, LLC | $490,000 | $55,000 | -88.8% | 0.0% |
| Pacific NW Federal Credit Union | $35,000 | n/a | 0.0% |
Newport's top lender by overall market share is CROSSCOUNTRY MORTGAGE, LLC, with 5.1% market share. In second place, with 4.9%, is GUILD MORTGAGE COMPANY, having originated $14,625,000 in loans. In third place, with 4.7%, is QUICKEN LOANS, LLC, having originated $14,070,000 in loans. In fourth place, with 4.6%, is Umpqua Bank, having originated $13,825,000 in loans. In fifth place, with 4.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $12,980,000 in loans.
Newport, OR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 577 | $217,895,000 | $377,634 |
| Home Improvement | 161 | $16,755,000 | $104,068 |
| Other | 139 | $16,715,000 | $120,252 |
| Cash Out Refi | 103 | $26,835,000 | $260,534 |
| Refi | 73 | $22,115,000 | $302,945 |
Newport's most frequently cited loan purpose was Home Purchase, with 577 originations. The 2nd most popular reason was Home Improvement, with 161 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 361 | $118,255,000 | $327,576 |
| 7-8% | 321 | $98,905,000 | $308,115 |
| Over 8% | 238 | $34,550,000 | $145,168 |
| 5-6% | 120 | $41,820,000 | $348,500 |
| 4-5% | 8 | $3,010,000 | $376,250 |
During 2023, Newport's most frequently originated rate bucket was 6-7%, with 361 originations.
Loan Sizing (Newport, OR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 408 | $123,830,000 | $303,505 |
| $100,000 or less | 227 | $13,055,000 | $57,511 |
| $100k-200k | 178 | $25,760,000 | $144,719 |
| $400k-600k | 171 | $80,855,000 | $472,836 |
| $600k-1000k | 62 | $44,960,000 | $725,161 |
| $Over $1MM | 7 | $11,855,000 | $1,693,571 |
Newport's loan sizing saw the bucket of loans from $200k-400k with 408 originations, totaling $123,830,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 280 | $111,500,000 | $398,214 |
| 60-80% | 225 | $96,945,000 | $430,867 |
| Under 20% | 218 | $13,530,000 | $62,064 |
| 20-40% | 161 | $25,845,000 | $160,528 |
| 40-60% | 152 | $43,630,000 | $287,039 |
| Over 100% | 10 | $4,510,000 | $451,000 |
Newport's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 280 originations, totaling $111,500,000 in origination value.