Norfolk Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Norfolk averaged 7.07% for the week of 2024-05-16, compared to the national average of 7.02% for the same period.

The average rate for the prior week (2024-05-09) was 7.34% and one month ago for the week of 2024-04-11, the average rate was 6.93%.

Norfolk's average rate one year ago was 6.4%.

For refis of the same type during the week of 2024-05-16, the average rate was 7.42%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-16 7.02%
Norfolk 30 Year Fixed Rate 2024-05-16 7.07%
Norfolk 30 Year Fixed Rate Refi 2024-05-16 7.42%
Norfolk 15 Year Fixed Rate 2024-05-16 6.08%
Norfolk 15 Year Fixed Rate Refi 2024-05-16 6.78%
Norfolk 30 Year FHA 2024-05-16 6.74%
Norfolk 30 Year FHA Refi 2024-05-16 6.64%
Norfolk 30 Year USDA 2024-05-16 6.95%
Norfolk 30 Year USDA Refi 2024-05-16 6.85%
Norfolk 30 Year VA 2024-05-16 6.7%
Norfolk 30 Year VA Refi 2024-05-16 6.4%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Norfolk, NE.

Norfolk 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 Norfolk, NE 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
West Gate Bank 49 6.89% $2,984
Frontier Bank 19 7.16% $3,061
GUARANTEED RATE, INC. 16 6.95% $4,895
U.S. Bank 15 6.70% $2,444
QUICKEN LOANS, LLC 13 6.82% $6,867
First National Bank of Omaha 11 6.90% $3,988
Wells Fargo Bank 7 6.29% $3,493
CHARTER WEST BANK 6 6.90% $2,905
Pinnacle Bank 5 6.78% $2,672
UNITED WHOLESALE MORTGAGE, LLC 4 6.48% $3,950
Farm Credit Mid-America, ACA 2 7.06% $9,383
BMO Harris Bank 2 6.69% $3,386
CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $5,091
Core Bank 2 7.00% $2,240
Prosperity Home Mortgage, LLC 1 6.63% $3,022
Regent Financial Group, Inc. 1 7.38% $2,699
Servion, Inc. 1 7.50% $5,801
The Huntington National Bank 1 7.13% $6,939
Union Bank and Trust Company 1 6.00% $3,975
HOMESIDE FINANCIAL, LLC 1 7.75% $3,107
Bank of England 1 6.75% $1,104
BROKER SOLUTIONS, INC. 1 7.24% $5,116
CASTLE & COOKE MORTGAGE, LLC 1 6.99% $7,678
CORNHUSKER BANK 1 7.38% $2,547
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $2,802
FIRST STATE MORTGAGE SERVICES, LLC 1 6.63% $3,979
FOUR POINTS 1 4.13% $2,408
AMERICAN FINANCIAL NETWORK, INC. 1 6.88% $3,948
LEGEND LENDING CORPORATION 1 6.75% $6,868
MID AMERICA MORTGAGE, INC. 1 6.75% $4,121
NAVY FEDERAL CREDIT UNION 1 5.75% $1,590
NBKC BANK 1 6.25% $3,064
PENNYMAC LOAN SERVICES, LLC 1 7.00% $7,408

Norfolk Average Closing Costs & Other Stats

Norfolk, NE's 33 lenders originated 542 loans during 2023. The total origination value was $99,100,000, with an average loan value of $182,841.

Norfolk's average closing costs are $3,670.

The top Norfolk lender as defined by loan originations is West Gate Bank, with 49 loans originated. Their average total fees are $2,984, which is $77 lower than the next largest lender, Frontier Bank.

The lowest fee Norfolk lenders (with over 10 loans originated) are U.S. Bank ($2,444), West Gate Bank ($2,984), Frontier Bank ($3,061), First National Bank of Omaha ($3,988) and GUARANTEED RATE, INC. ($4,895).

The lowest rate Norfolk lenders (with over 10 loans originated) are U.S. Bank (6.70%), QUICKEN LOANS, LLC (6.82%), West Gate Bank (6.89%), First National Bank of Omaha (6.90%) and GUARANTEED RATE, INC. (6.95%).

Norfolk, NE 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
BankFirst $9,870,000 $16,680,000 69.0% 16.8%
West Gate Bank $23,370,000 $12,170,000 -47.9% 12.3%
GUARANTEED RATE, INC. $6,185,000 $9,815,000 58.7% 9.9%
Frontier Bank $10,190,000 $7,765,000 -23.8% 7.8%
First National Bank of Omaha $7,435,000 $5,665,000 -23.8% 5.7%
FIRST WESTROADS BANK, INC. $5,635,000 n/a 5.7%
QUICKEN LOANS, LLC $9,115,000 $5,490,000 -39.8% 5.5%
U.S. Bank $9,775,000 $4,105,000 -58.0% 4.1%
Pinnacle Bank $11,710,000 $2,995,000 -74.4% 3.0%
CHARTER WEST BANK $3,315,000 $2,375,000 -28.4% 2.4%
UNITED WHOLESALE MORTGAGE, LLC $935,000 $2,175,000 132.6% 2.2%
Mortgage Research Center, LLC $2,140,000 $1,755,000 -18.0% 1.8%
Wells Fargo Bank $6,225,000 $1,425,000 -77.1% 1.4%
Farm Credit Mid-America, ACA $1,660,000 $1,350,000 -18.7% 1.4%
First Nebraska Bank $1,335,000 $1,195,000 -10.5% 1.2%
MUTUAL OF OMAHA MORTGAGE, INC. $315,000 $1,045,000 231.7% 1.1%
Ames National Corporation/Reliance State Bank $965,000 n/a 1.0%
LOANDEPOT.COM, LLC $795,000 $955,000 20.1% 1.0%
Plains Commerce Bank $845,000 $905,000 7.1% 0.9%
CROSSCOUNTRY MORTGAGE, LLC $200,000 $885,000 342.5% 0.9%
PENNYMAC LOAN SERVICES, LLC $455,000 $810,000 78.0% 0.8%
NAVY FEDERAL CREDIT UNION $610,000 $700,000 14.8% 0.7%
FIRST STATE MORTGAGE SERVICES, LLC $635,000 n/a 0.6%
The Huntington National Bank $635,000 n/a 0.6%
American Bank & Trust $570,000 n/a 0.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $525,000 n/a 0.5%
Equitable Bank $565,000 $465,000 -17.7% 0.5%
First Interstate Bank $60,000 $445,000 641.7% 0.4%
American State Bank $405,000 n/a 0.4%
Washington County Bank $185,000 $405,000 118.9% 0.4%
Regent Financial Group, Inc. $735,000 $400,000 -45.6% 0.4%
Servion, Inc. $365,000 n/a 0.4%
USAA Federal Savings Bank $630,000 $365,000 -42.1% 0.4%
Core Bank $145,000 $360,000 148.3% 0.4%
BMO Harris Bank $155,000 $335,000 116.1% 0.3%
FREEDOM MORTGAGE CORPORATION $1,280,000 $330,000 -74.2% 0.3%
Union Bank and Trust Company $705,000 $320,000 -54.6% 0.3%
Barrington Bank & Trust Company, N.A. $295,000 n/a 0.3%
FOUR POINTS $280,000 $295,000 5.4% 0.3%
LEGEND LENDING CORPORATION $295,000 n/a 0.3%
MID AMERICA MORTGAGE, INC. $295,000 n/a 0.3%
CASTLE & COOKE MORTGAGE, LLC $75,000 $285,000 280.0% 0.3%
CORNHUSKER BANK $135,000 $265,000 96.3% 0.3%
PLAZA HOME MORTGAGE, INC. $230,000 n/a 0.2%
Mr. Cooper ( Nationstar Mortgage ) $550,000 $215,000 -60.9% 0.2%
NBKC BANK $235,000 $215,000 -8.5% 0.2%
Prosperity Home Mortgage, LLC $215,000 n/a 0.2%
CENTENNIAL LENDING, LLC $360,000 $205,000 -43.1% 0.2%
Coastal Community Bank $190,000 n/a 0.2%
Northwest Bank $185,000 n/a 0.2%
CALIBER HOME LOANS, INC. $370,000 $175,000 -52.7% 0.2%
HOMEBRIDGE FINANCIAL SERVICES, INC. $175,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $115,000 $165,000 43.5% 0.2%
Cornerstone Bank $290,000 $150,000 -48.3% 0.2%
Figure Lending LLC $200,000 $145,000 -27.5% 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $130,000 n/a 0.1%
HOMESIDE FINANCIAL, LLC $115,000 n/a 0.1%
Central National Bank $775,000 $105,000 -86.5% 0.1%
DEEPHAVEN MORTGAGE LLC $105,000 n/a 0.1%
Discover Bank $100,000 n/a 0.1%
AMERICAN FINANCIAL NETWORK, INC. $75,000 n/a 0.1%
BROKER SOLUTIONS, INC. $115,000 $75,000 -34.8% 0.1%
Bank of England $65,000 n/a 0.1%
Flagstar Bank, FSB $255,000 $65,000 -74.5% 0.1%
NEW DAY FINANCIAL, LLC $65,000 n/a 0.1%
Bank of America $55,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $55,000 n/a 0.1%
The Central Trust Bank $45,000 n/a 0.0%
University of Nebraska Federal Credit Union $45,000 n/a 0.0%
Truity Federal Credit Union $35,000 n/a 0.0%
VERIDIAN CREDIT UNION $135,000 $30,000 -77.8% 0.0%
Deere Employees Credit Union $25,000 n/a 0.0%
SPRING EQ, LLC $25,000 n/a 0.0%

Norfolk's top lender by overall market share is BankFirst, with 16.8% market share. In second place, with 12.3%, is West Gate Bank, having originated $12,170,000 in loans. In third place, with 9.9%, is GUARANTEED RATE, INC., having originated $9,815,000 in loans. In fourth place, with 7.8%, is Frontier Bank, having originated $7,765,000 in loans. In fifth place, with 5.7%, is First National Bank of Omaha, having originated $5,665,000 in loans.


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

Realtor.com - Norfolk (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 $187,175 (1.4%) $210,332 (-1.9%) 0.00 92
2018-02-01 $184,550 (1.4%) $217,632 (2.5%) 0.00 89
2018-03-01 $179,925 (-4.2%) $213,386 (-4.3%) 0.00 89
2018-04-01 $188,950 (-5.5%) $217,428 (-9.1%) 0.00 88
2018-05-01 $192,681 (7.1%) $227,060 (5.2%) 0.00 107
2018-06-01 $199,500 (9.0%) $241,120 (4.1%) 0.00 123
2018-07-01 $191,438 (6.4%) $236,766 (4.7%) 0.00 120
2018-08-01 $187,463 (5.1%) $225,985 (1.1%) 0.00 129
2018-09-01 $187,225 (7.2%) $237,500 (16.2%) 0.00 140
2018-10-01 $179,788 (7.7%) $229,459 (11.0%) 0.00 160
2018-11-01 $179,250 (-3.2%) $228,353 (9.5%) 0.00 156
2018-12-01 $174,950 (-9.6%) $224,615 (7.4%) 0.00 136
2019-01-01 $173,625 (-7.2%) $220,496 (4.8%) 0.00 134
2019-02-01 $182,400 (-1.2%) $230,651 (6.0%) 0.00 120
2019-03-01 $190,318 (5.8%) $237,064 (11.1%) 0.00 118
2019-04-01 $186,668 (-1.2%) $235,393 (8.3%) 0.00 117
2019-05-01 $183,950 (-4.5%) $232,603 (2.4%) 0.00 117
2019-06-01 $194,500 (-2.5%) $235,904 (-2.2%) 0.00 126
2019-07-01 $199,850 (4.4%) $234,935 (-0.8%) 0.00 129
2019-08-01 $200,509 (7.0%) $238,400 (5.5%) 0.00 138
2019-09-01 $201,348 (7.5%) $241,031 (1.5%) 0.00 145
2019-10-01 $195,857 (8.9%) $236,670 (3.1%) 0.00 158
2019-11-01 $189,000 (5.4%) $225,446 (-1.3%) 0.00 160
2019-12-01 $195,375 (11.7%) $219,990 (-2.1%) 0.00 147
2020-01-01 $204,963 (18.1%) $223,976 (1.6%) 0.00 130
2020-02-01 $219,900 (20.6%) $236,336 (2.5%) 0.00 118
2020-03-01 $219,100 (15.1%) $239,582 (1.1%) 0.00 124
2020-04-01 $210,500 (12.8%) $232,930 (-1.1%) 0.00 116
2020-05-01 $194,350 (5.7%) $230,500 (-0.9%) 0.00 100
2020-06-01 $210,000 (8.0%) $236,857 (0.4%) 0.00 92
2020-07-01 $207,925 (4.0%) $236,111 (0.5%) 0.00 98
2020-08-01 $192,700 (-3.9%) $233,619 (-2.0%) 0.00 99
2020-09-01 $222,400 (10.5%) $244,275 (1.4%) 0.00 107
2020-10-01 $225,000 (14.9%) $250,090 (5.7%) 0.00 102
2020-11-01 $224,950 (19.0%) $249,009 (10.5%) 0.00 88
2020-12-01 $219,900 (12.6%) $242,561 (10.3%) 0.00 82
2021-01-01 $219,900 (7.3%) $241,491 (7.8%) 0.00 74
2021-02-01 $216,200 (-1.7%) $247,091 (4.6%) 0.00 61
2021-03-01 $227,425 (3.8%) $262,722 (9.7%) 0.00 51
2021-04-01 $206,673 (-1.8%) $239,446 (2.8%) 0.00 51
2021-05-01 $189,999 (-2.2%) $219,447 (-4.8%) 0.00 48
2021-06-01 $207,450 (-1.2%) $261,097 (10.2%) 0.00 50
2021-07-01 $199,925 (-3.9%) $269,774 (14.3%) 0.00 54
2021-08-01 $210,700 (9.3%) $264,559 (13.2%) 0.00 68
2021-09-01 $217,500 (-2.2%) $266,873 (9.3%) 0.00 76
2021-10-01 $259,250 (15.2%) $303,580 (21.4%) 0.00 72
2021-11-01 $242,338 (7.7%) $283,683 (13.9%) 0.00 71
2021-12-01 $247,600 (12.6%) $294,188 (21.3%) 0.00 60
2022-01-01 $230,000 (4.6%) $269,329 (11.5%) 0.00 51
2022-02-01 $264,250 (22.2%) $274,909 (11.3%) 0.00 47
2022-03-01 $231,225 (1.7%) $273,764 (4.2%) 0.00 54
2022-04-01 $270,000 (30.6%) $294,141 (22.8%) 0.00 50
2022-05-01 $254,000 (33.7%) $292,666 (33.4%) 0.00 49
2022-06-01 $236,975 (14.2%) $272,467 (4.4%) 0.00 57
2022-07-01 $248,600 (24.4%) $302,567 (12.2%) 0.00 67
2022-08-01 $268,750 (27.6%) $318,839 (20.5%) 0.00 77
2022-09-01 $267,325 (22.9%) $316,684 (18.7%) 0.00 83
2022-10-01 $258,500 (-0.3%) $314,588 (3.6%) 0.00 92
2022-11-01 $233,625 (-3.6%) $307,961 (8.6%) 0.00 89
2022-12-01 $239,250 (-3.4%) $332,984 (13.2%) 0.00 77
2023-01-01 $244,350 (6.2%) $338,970 (25.9%) 0.00 65
2023-02-01 $249,750 (-5.5%) $347,884 (26.6%) 0.00 71
2023-03-01 $249,700 (8.0%) $345,287 (26.1%) 0.00 64
2023-04-01 $275,000 (1.9%) $350,978 (19.3%) 0.00 50
2023-05-01 $252,350 (-0.7%) $330,954 (13.1%) 0.00 53
2023-06-01 $298,100 (25.8%) $355,332 (30.4%) 0.00 61
2023-07-01 $270,000 (8.6%) $332,597 (9.9%) 0.00 56
2023-08-01 $254,850 (-5.2%) $301,506 (-5.4%) 0.00 62
2023-09-01 $249,900 (-6.5%) $294,880 (-6.9%) 0.00 65
2023-10-01 $275,000 (6.4%) $317,414 (0.9%) 0.00 85
2023-11-01 $286,000 (22.4%) $330,499 (7.3%) 0.00 91
2023-12-01 $294,900 (23.3%) $317,692 (-4.6%) 0.00 78
2024-01-01 $273,450 (11.9%) $303,045 (-10.6%) 0.00 79
2024-02-01 $272,425 (9.1%) $293,657 (-15.6%) 0.00 73
2024-03-01 $285,000 (14.1%) $304,865 (-11.7%) 0.00 73
2024-04-01 $283,650 (3.2%) $319,062 (-9.1%) 0.00 81
Norfolk's median listing price for 2024-04-01 was $283,650, a difference of $8,650 (3.2%) versus the prior year and $-1,350 versus the prior month.

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

Norfolk's average listing price for 2024-04-01 was $319,062, a difference of $-31,916 (-9.1%) versus the prior year and $14,197 versus the prior month.

For the 2024-04-01 period, Norfolk had 81 MLS listings, a difference of 8 listings (11%) versus the prior month and 31 listings (62%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Norfolk (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,213 sqft
2018-02-01 0 days 2,127 sqft
2018-03-01 0 days 1,981 sqft
2018-04-01 0 days 1,978 sqft
2018-05-01 0 days 2,205 sqft
2018-06-01 0 days 2,294 sqft
2018-07-01 0 days 2,326 sqft
2018-08-01 0 days 2,251 sqft
2018-09-01 0 days 2,203 sqft
2018-10-01 0 days 2,154 sqft
2018-11-01 0 days 2,116 sqft
2018-12-01 0 days 2,060 sqft
2019-01-01 0 days 2,057 sqft
2019-02-01 0 days 2,016 sqft
2019-03-01 0 days 2,137 sqft
2019-04-01 0 days 2,103 sqft
2019-05-01 0 days 2,093 sqft
2019-06-01 0 days 2,161 sqft
2019-07-01 0 days 2,154 sqft
2019-08-01 0 days 2,212 sqft
2019-09-01 0 days 2,266 sqft
2019-10-01 0 days 2,274 sqft
2019-11-01 0 days 2,273 sqft
2019-12-01 0 days 2,256 sqft
2020-01-01 0 days 2,267 sqft
2020-02-01 0 days 2,198 sqft
2020-03-01 0 days 2,096 sqft
2020-04-01 0 days 1,955 sqft
2020-05-01 0 days 1,888 sqft
2020-06-01 0 days 1,828 sqft
2020-07-01 0 days 1,814 sqft
2020-08-01 0 days 1,986 sqft
2020-09-01 0 days 2,143 sqft
2020-10-01 0 days 1,920 sqft
2020-11-01 0 days 1,902 sqft
2020-12-01 0 days 1,882 sqft
2021-01-01 0 days 1,722 sqft
2021-02-01 0 days 1,621 sqft
2021-03-01 0 days 1,708 sqft
2021-04-01 0 days 1,700 sqft
2021-05-01 0 days 1,596 sqft
2021-06-01 0 days 1,684 sqft
2021-07-01 0 days 1,836 sqft
2021-08-01 0 days 1,810 sqft
2021-09-01 0 days 1,999 sqft
2021-10-01 0 days 2,172 sqft
2021-11-01 0 days 1,944 sqft
2021-12-01 0 days 2,111 sqft
2022-01-01 0 days 2,130 sqft
2022-02-01 0 days 2,105 sqft
2022-03-01 0 days 2,008 sqft
2022-04-01 0 days 2,305 sqft
2022-05-01 0 days 1,961 sqft
2022-06-01 0 days 1,835 sqft
2022-07-01 0 days 1,977 sqft
2022-08-01 0 days 2,160 sqft
2022-09-01 0 days 2,047 sqft
2022-10-01 0 days 2,121 sqft
2022-11-01 0 days 2,103 sqft
2022-12-01 0 days 2,205 sqft
2023-01-01 0 days 2,147 sqft
2023-02-01 0 days 2,015 sqft
2023-03-01 0 days 1,889 sqft
2023-04-01 0 days 1,943 sqft
2023-05-01 0 days 1,838 sqft
2023-06-01 0 days 1,927 sqft
2023-07-01 0 days 1,872 sqft
2023-08-01 0 days 1,789 sqft
2023-09-01 0 days 1,737 sqft
2023-10-01 0 days 1,835 sqft
2023-11-01 0 days 1,865 sqft
2023-12-01 0 days 1,896 sqft
2024-01-01 0 days 1,832 sqft
2024-02-01 0 days 1,918 sqft
2024-03-01 0 days 1,886 sqft
2024-04-01 0 days 1,830 sqft
Norfolk's median listing age (time on market) for 2024-04-01 was 0 days.

Norfolk's median square footage for active listings during the 2024-04-01 period was 1,830 sqft. One year prior, the average listing was 1,943 sqft.

Norfolk, NE Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 355 $76,775,000 $216,268
Refi 67 $10,835,000 $161,716
Cash Out Refi 46 $7,270,000 $158,043
Home Improvement 42 $2,570,000 $61,190
Other 32 $1,650,000 $51,563

Norfolk's most frequently cited loan purpose was Home Purchase, with 355 originations. The 2nd most popular reason was Refi, with 67 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 172 $33,670,000 $195,756
7-8% 118 $21,350,000 $180,932
Over 8% 71 $6,805,000 $95,845
5-6% 40 $9,180,000 $229,500
<2.5% 20 $160,000 $8,000
4-5% 7 $1,645,000 $235,000
3-4% 5 $325,000 $65,000

During 2023, Norfolk's most frequently originated rate bucket was 6-7%, with 172 originations.

Loan Sizing (Norfolk, NE MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 204 $30,220,000 $148,137
$100,000 or less 161 $7,865,000 $48,851
$200k-400k 146 $38,890,000 $266,370
$400k-600k 20 $9,400,000 $470,000
$600k-1000k 10 $7,090,000 $709,000
$Over $1MM 1 $5,635,000 $5,635,000

Norfolk's loan sizing saw the bucket of loans from $100k-200k with 204 originations, totaling $30,220,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 199 $43,645,000 $219,322
60-80% 76 $16,700,000 $219,737
Under 20% 65 $1,735,000 $26,692
20-40% 45 $3,205,000 $71,222
40-60% 44 $6,620,000 $150,455
Over 100% 3 $1,225,000 $408,333

Norfolk's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 199 originations, totaling $43,645,000 in origination value.