Norfolk Mortgage Rates
30 Year Fixed Rate mortgages in Norfolk averaged
5.83%
for the week of 2022-06-23, compared to the national average of
5.81% for the same period.
The average rate for the prior week (2022-06-16) was
5.7% and
one month ago for the week of 2022-05-19, the
average rate was 5.17%.
Norfolk's average rate one year ago was 3.25%.
For refis of the same type during the week of 2022-06-23, the average rate
was 5.72%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
Norfolk 30 Year Fixed Rate | 2022-06-23 | 5.83% |
Norfolk 30 Year Fixed Rate Refi | 2022-06-23 | 5.72% |
Norfolk 15 Year Fixed Rate | 2022-06-23 | 4.86% |
Norfolk 15 Year Fixed Rate Refi | 2022-06-23 | 5.08% |
Norfolk 30 Year FHA | 2022-06-23 | -0.14% |
Norfolk 30 Year FHA Refi | 2022-06-23 | -0.22% |
Norfolk 30 Year USDA | 2022-06-23 | 0.12% |
Norfolk 30 Year USDA Refi | 2022-06-23 | 0.22% |
Norfolk 30 Year VA | 2022-06-23 | 0.33% |
Norfolk 30 Year VA Refi | 2022-06-23 | 0.2% |
Norfolk Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, 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.).
Norfolk, NE's 60 lenders originated 1,230
loans during 2021. The total origination value was $217,020,000, with an average loan value of
$176,439.
The top Norfolk lender as defined by loan originations is West Gate Bank, with
179 loans originated. Their average total fees are
$2,480, which is $320
lower than the next largest lender,
Wells Fargo Bank.
The lowest fee Norfolk lenders (with over 10 loans originated) are
Frontier Bank ($2,002), First National Bank of Omaha ($2,274), U.S. Bank ($2,320), CHARTER WEST BANK ($2,433) and West Gate Bank ($2,480).
The lowest rate Norfolk lenders (with over 10 loans originated) are
First National Bank of Omaha (3.01%), Frontier Bank (3.03%), West Gate Bank (3.03%), U.S. Bank (3.11%) and QUICKEN LOANS, LLC (3.12%).
Norfolk, NE Lender 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
West Gate Bank | $81,645,000 | $59,405,000 | -27.2% | 27.4% |
Wells Fargo Bank | $10,475,000 | $17,440,000 | 66.5% | 8.0% |
U.S. Bank | $14,110,000 | $16,720,000 | 18.5% | 7.7% |
BankFirst | $10,930,000 | $16,295,000 | 49.1% | 7.5% |
QUICKEN LOANS, LLC | $17,065,000 | $15,970,000 | -6.4% | 7.4% |
Frontier Bank | $13,580,000 | $13,940,000 | 2.7% | 6.4% |
First National Bank of Omaha | $11,985,000 | $8,550,000 | -28.7% | 3.9% |
GUARANTEED RATE, INC. | $4,260,000 | $6,905,000 | 62.1% | 3.2% |
CHARTER WEST BANK | $4,080,000 | $6,780,000 | 66.2% | 3.1% |
MORIA DEVELOPMENT, INC. | $690,000 | $3,260,000 | 372.5% | 1.5% |
Pinnacle Bank | $7,090,000 | $3,065,000 | -56.8% | 1.4% |
Mortgage Research Center, LLC | $2,745,000 | $3,050,000 | 11.1% | 1.4% |
First Nebraska Bank | $2,875,000 | $2,415,000 | -16.0% | 1.1% |
FREEDOM MORTGAGE CORPORATION | $2,460,000 | $2,305,000 | -6.3% | 1.1% |
Plains Commerce Bank | $550,000 | $2,055,000 | 273.6% | 0.9% |
USAA Federal Savings Bank | $1,210,000 | $1,780,000 | 47.1% | 0.8% |
Central National Bank | $3,115,000 | $1,730,000 | -44.5% | 0.8% |
AMERISAVE MORTGAGE CORPORATION | $735,000 | $1,620,000 | 120.4% | 0.7% |
NAVY FEDERAL CREDIT UNION | $540,000 | $1,445,000 | 167.6% | 0.7% |
LOANDEPOT.COM, LLC | $290,000 | $1,260,000 | 334.5% | 0.6% |
PENNYMAC LOAN SERVICES, LLC | $340,000 | $1,245,000 | 266.2% | 0.6% |
HOME POINT FINANCIAL CORPORATION | $440,000 | $1,230,000 | 179.5% | 0.6% |
First Dakota National Bank | $480,000 | $1,170,000 | 143.8% | 0.5% |
Arbor Realty Trust, Inc. | $1,055,000 | n/a | 0.5% | |
Farm Credit Mid-America, ACA | $1,070,000 | $1,030,000 | -3.7% | 0.5% |
MUTUAL OF OMAHA MORTGAGE, INC. | $970,000 | n/a | 0.4% | |
Bank of the West | $1,355,000 | $965,000 | -28.8% | 0.4% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $330,000 | $935,000 | 183.3% | 0.4% |
UNITED WHOLESALE MORTGAGE, LLC | $610,000 | $905,000 | 48.4% | 0.4% |
Flagstar Bank, FSB | $295,000 | $845,000 | 186.4% | 0.4% |
Paramount Residential Mortgage Group, Inc. | $4,970,000 | $810,000 | -83.7% | 0.4% |
Mr. Cooper ( Nationstar Mortgage ) | $115,000 | $790,000 | 587.0% | 0.4% |
FOUR POINTS | $585,000 | $770,000 | 31.6% | 0.4% |
Arbor Bank | $700,000 | $720,000 | 2.9% | 0.3% |
Regent Financial Group, Inc. | $485,000 | $675,000 | 39.2% | 0.3% |
NEWREZ LLC | $310,000 | $610,000 | 96.8% | 0.3% |
AMERICAN FINANCING CORPORATION | $585,000 | n/a | 0.3% | |
Northwest Bank | $15,000 | $535,000 | 3,466.7% | 0.2% |
Lincoln FSB of Nebraska | $1,445,000 | $500,000 | -65.4% | 0.2% |
Great Western Bank | $1,045,000 | $480,000 | -54.1% | 0.2% |
BETTER MORTGAGE CORPORATION | $205,000 | $475,000 | 131.7% | 0.2% |
AMCAP MORTGAGE, LTD. | $225,000 | $460,000 | 104.4% | 0.2% |
Bank of America | $115,000 | $455,000 | 295.7% | 0.2% |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $450,000 | n/a | 0.2% | |
BROKER SOLUTIONS, INC. | $135,000 | $450,000 | 233.3% | 0.2% |
LIBERTY FIRST | $435,000 | n/a | 0.2% | |
NEW DAY FINANCIAL, LLC | $825,000 | $420,000 | -49.1% | 0.2% |
CALIBER HOME LOANS, INC. | $385,000 | n/a | 0.2% | |
First Bank & Trust | $365,000 | n/a | 0.2% | |
DELMAR FINANCIAL COMPANY | $160,000 | $360,000 | 125.0% | 0.2% |
Flanagan State Bank | $360,000 | n/a | 0.2% | |
Jonah Bank of Wyoming | $355,000 | n/a | 0.2% | |
LAKEVIEW LOAN SERVICING, LLC | $350,000 | n/a | 0.2% | |
North American Savings Bank, F.S.B. | $465,000 | $345,000 | -25.8% | 0.2% |
CHURCHILL MORTGAGE CORPORATION | $340,000 | n/a | 0.2% | |
GERSHMAN INVESTMENT CORP. | $335,000 | n/a | 0.2% | |
CENTENNIAL LENDING, LLC | $675,000 | $325,000 | -51.9% | 0.1% |
Meridian Bank Corporation | $325,000 | n/a | 0.1% | |
TIAA, FSB | $325,000 | n/a | 0.1% | |
Access Bank | $540,000 | $315,000 | -41.7% | 0.1% |
PLANET HOME LENDING, LLC | $295,000 | n/a | 0.1% | |
The Federal Savings Bank | $375,000 | $285,000 | -24.0% | 0.1% |
OPEN MORTGAGE, LLC | $115,000 | $280,000 | 143.5% | 0.1% |
VERIDIAN CREDIT UNION | $95,000 | $280,000 | 194.7% | 0.1% |
IOWA BANKERS MORTGAGE CORPORATION | $290,000 | $275,000 | -5.2% | 0.1% |
Strong Home Mortgage, LLC | $275,000 | n/a | 0.1% | |
UMB Bank | $255,000 | n/a | 0.1% | |
Generations Bank | $245,000 | n/a | 0.1% | |
JPMorgan Chase Bank | $640,000 | $240,000 | -62.5% | 0.1% |
Deere Employees Credit Union | $275,000 | $235,000 | -14.5% | 0.1% |
SPRING EQ, LLC | $105,000 | $225,000 | 114.3% | 0.1% |
American National Bank | $220,000 | n/a | 0.1% | |
Equitable Bank | $205,000 | n/a | 0.1% | |
CROSSCOUNTRY MORTGAGE, LLC | $195,000 | $195,000 | 0.0% | 0.1% |
Great Southern Bank | $615,000 | $195,000 | -68.3% | 0.1% |
Central Bank | $185,000 | n/a | 0.1% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $635,000 | $175,000 | -72.4% | 0.1% |
Servion, Inc. | $175,000 | n/a | 0.1% | |
First Bank | $235,000 | $155,000 | -34.0% | 0.1% |
THOMPSON KANE & COMPANY, LLC | $155,000 | n/a | 0.1% | |
Financial Funding Solutions, Inc. | $85,000 | $135,000 | 58.8% | 0.1% |
FirstBank of Nebraska | $135,000 | n/a | 0.1% | |
First International Bank & Trust | $135,000 | n/a | 0.1% | |
OCEANSIDE MORTGAGE COMPANY | $135,000 | n/a | 0.1% | |
PLAZA HOME MORTGAGE, INC. | $165,000 | $135,000 | -18.2% | 0.1% |
CASTLE & COOKE MORTGAGE, LLC | $320,000 | $125,000 | -60.9% | 0.1% |
CMG MORTGAGE, INC. | $125,000 | $125,000 | 0.0% | 0.1% |
First Guaranty Mortgage Corporation | $115,000 | n/a | 0.1% | |
Northpointe Bank | $115,000 | n/a | 0.1% | |
ACADEMY MORTGAGE CORPORATION | $85,000 | $105,000 | 23.5% | 0.0% |
SOVEREIGN LENDING GROUP INCORPORATED | $95,000 | $105,000 | 10.5% | 0.0% |
ZILLOW HOME LOANS, LLC | $135,000 | $105,000 | -22.2% | 0.0% |
Bell Bank | $95,000 | n/a | 0.0% | |
Carrington Mortgage Services, LLC | $95,000 | n/a | 0.0% | |
MID AMERICA MORTGAGE, INC. | $230,000 | $95,000 | -58.7% | 0.0% |
PENTAGON FEDERAL CREDIT UNION | $565,000 | $85,000 | -85.0% | 0.0% |
VILLAGE CAPITAL & INVESTMENT LLC | $85,000 | n/a | 0.0% | |
Discover Bank | $125,000 | $65,000 | -48.0% | 0.0% |
United Bank of Iowa | $35,000 | n/a | 0.0% |
Norfolk's top lender by overall market share is West Gate Bank, with 27.4% market share. In second place, with 8.0%, is Wells Fargo Bank, having originated $17,440,000 in loans. In third place, with 7.7%, is U.S. Bank, having originated $16,720,000 in loans. In third place, with 7.5%, is BankFirst, having originated $16,295,000 in loans. In third place, with 7.4%, is QUICKEN LOANS, LLC, having originated $15,970,000 in loans.
Norfolk, NE Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 525 | $106,075,000 | $202,048 |
Refi | 434 | $70,100,000 | $161,521 |
Cash Out Refi | 228 | $37,640,000 | $165,088 |
Home Improvement | 25 | $1,535,000 | $61,400 |
Other | 18 | $1,670,000 | $92,778 |
Norfolk's most frequently cited loan purpose was Home Purchase, with 525 originations. The 2nd most popular reason was Refi, with 434 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 540 | $96,890,000 | $179,426 |
3-4% | 349 | $61,925,000 | $177,436 |
<2.5% | 203 | $34,265,000 | $168,793 |
4-5% | 32 | $4,690,000 | $146,563 |
5-6% | 16 | $1,570,000 | $98,125 |
6-7% | 6 | $480,000 | $80,000 |
During 2021, Norfolk's most frequently originated rate bucket was 2.5-3%, with 540 originations.
Loan Sizing (Norfolk, NE MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 641 | $94,605,000 | $147,590 |
$200k-400k | 321 | $86,765,000 | $270,296 |
$100,000 or less | 229 | $16,095,000 | $70,284 |
$400k-600k | 36 | $17,050,000 | $473,611 |
$600k-1000k | 2 | $1,450,000 | $725,000 |
$Over $1MM | 1 | $1,055,000 | $1,055,000 |
Norfolk's loan sizing saw the bucket of loans from $100k-200k with 641 originations, totaling $94,605,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 457 | $90,435,000 | $197,888 |
60-80% | 391 | $71,725,000 | $183,440 |
40-60% | 173 | $24,335,000 | $140,665 |
20-40% | 71 | $5,905,000 | $83,169 |
Under 20% | 24 | $830,000 | $34,583 |
Over 100% | 14 | $3,900,000 | $278,571 |
Norfolk's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 457 originations, totaling $90,435,000 in origination value.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Norfolk (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $185,400 (-0.1%) | $208,461 (-2.7%) | 0.00 | 91 |
2018-02-01 | $184,900 (2.8%) | $214,711 (1.2%) | 0.00 | 87 |
2018-03-01 | $166,000 (-9.5%) | $204,020 (-8.0%) | 0.00 | 86 |
2018-04-01 | $184,900 (-7.5%) | $214,558 (-10.0%) | 0.00 | 85 |
2018-05-01 | $193,000 (8.2%) | $226,794 (5.6%) | 0.00 | 104 |
2018-06-01 | $199,500 (10.2%) | $241,028 (4.5%) | 0.00 | 120 |
2018-07-01 | $191,438 (6.4%) | $237,407 (5.4%) | 0.00 | 118 |
2018-08-01 | $185,975 (7.1%) | $224,934 (1.4%) | 0.00 | 128 |
2018-09-01 | $187,500 (5.0%) | $238,715 (16.8%) | 0.00 | 138 |
2018-10-01 | $179,875 (8.4%) | $228,705 (11.8%) | 0.00 | 158 |
2018-11-01 | $179,000 (-2.8%) | $222,089 (7.3%) | 0.00 | 153 |
2018-12-01 | $174,900 (-7.5%) | $223,379 (7.8%) | 0.00 | 136 |
2019-01-01 | $174,800 (-5.7%) | $217,010 (4.1%) | 0.00 | 133 |
2019-02-01 | $179,850 (-2.7%) | $227,648 (6.0%) | 0.00 | 118 |
2019-03-01 | $182,043 (9.7%) | $233,586 (14.5%) | 0.00 | 117 |
2019-04-01 | $182,043 (-1.6%) | $232,101 (8.2%) | 0.00 | 116 |
2019-05-01 | $181,700 (-5.9%) | $230,609 (1.7%) | 0.00 | 113 |
2019-06-01 | $189,900 (-4.8%) | $232,967 (-3.3%) | 0.00 | 125 |
2019-07-01 | $189,750 (-0.9%) | $229,570 (-3.3%) | 0.00 | 125 |
2019-08-01 | $196,814 (5.8%) | $233,690 (3.9%) | 0.00 | 133 |
2019-09-01 | $199,900 (6.6%) | $235,244 (-1.5%) | 0.00 | 144 |
2019-10-01 | $192,450 (7.0%) | $232,151 (1.5%) | 0.00 | 159 |
2019-11-01 | $185,000 (3.4%) | $223,780 (0.8%) | 0.00 | 159 |
2019-12-01 | $191,200 (9.3%) | $218,119 (-2.4%) | 0.00 | 145 |
2020-01-01 | $204,975 (17.3%) | $223,584 (3.0%) | 0.00 | 129 |
2020-02-01 | $216,000 (20.1%) | $235,116 (3.3%) | 0.00 | 118 |
2020-03-01 | $218,250 (19.9%) | $238,331 (2.0%) | 0.00 | 124 |
2020-04-01 | $202,400 (11.2%) | $228,599 (-1.5%) | 0.00 | 118 |
2020-05-01 | $192,700 (6.1%) | $229,138 (-0.6%) | 0.00 | 100 |
2020-06-01 | $201,325 (6.0%) | $234,944 (0.9%) | 0.00 | 93 |
2020-07-01 | $210,975 (11.2%) | $235,253 (2.5%) | 0.00 | 100 |
2020-08-01 | $192,700 (-2.1%) | $231,899 (-0.8%) | 0.00 | 101 |
2020-09-01 | $222,425 (11.3%) | $244,213 (3.8%) | 0.00 | 106 |
2020-10-01 | $225,000 (16.9%) | $247,485 (6.6%) | 0.00 | 105 |
2020-11-01 | $224,950 (21.6%) | $247,072 (10.4%) | 0.00 | 89 |
2020-12-01 | $219,900 (15.0%) | $240,821 (10.4%) | 0.00 | 85 |
2021-01-01 | $219,900 (7.3%) | $241,536 (8.0%) | 0.00 | 79 |
2021-02-01 | $222,400 (3.0%) | $248,789 (5.8%) | 0.00 | 64 |
2021-03-01 | $239,950 (9.9%) | $262,023 (9.9%) | 0.00 | 55 |
2021-04-01 | $226,000 (11.7%) | $240,803 (5.3%) | 0.00 | 53 |
2021-05-01 | $194,000 (0.7%) | $218,871 (-4.5%) | 0.00 | 52 |
2021-06-01 | $207,450 (3.0%) | $255,913 (8.9%) | 0.00 | 53 |
2021-07-01 | $202,475 (-4.0%) | $264,376 (12.4%) | 0.00 | 59 |
2021-08-01 | $212,450 (10.3%) | $260,627 (12.4%) | 0.00 | 73 |
2021-09-01 | $217,500 (-2.2%) | $264,857 (8.5%) | 0.00 | 80 |
2021-10-01 | $259,500 (15.3%) | $297,898 (20.4%) | 0.00 | 78 |
2021-11-01 | $235,000 (4.5%) | $276,477 (11.9%) | 0.00 | 75 |
2021-12-01 | $230,000 (4.6%) | $284,712 (18.2%) | 0.00 | 64 |
2022-01-01 | $229,900 (4.6%) | $264,024 (9.3%) | 0.00 | 53 |
2022-02-01 | $244,450 (9.9%) | $265,653 (6.8%) | 0.00 | 47 |
2022-03-01 | $227,450 (-5.2%) | $268,565 (2.5%) | 0.00 | 56 |
2022-04-01 | $270,000 (19.5%) | $290,036 (20.5%) | 0.00 | 51 |
2022-05-01 | $274,200 (41.3%) | $293,979 (34.3%) | 0.00 | 48 |
Norfolk's median listing price comes in at 0% of the national average.
Norfolk's average listing price for 2022-05-01 was $293,979, a difference of $75,108 (34.3%) versus the prior year and $3,943 versus the prior month.
For the 2022-05-01 period, Norfolk had 48 MLS listings, a difference of -3 listings (-6%) versus the prior month and -4 listings (-8%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Norfolk (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,265 sqft |
2018-02-01 | 0 days | 2,235 sqft |
2018-03-01 | 0 days | 2,200 sqft |
2018-04-01 | 0 days | 2,103 sqft |
2018-05-01 | 0 days | 2,351 sqft |
2018-06-01 | 0 days | 2,328 sqft |
2018-07-01 | 0 days | 2,390 sqft |
2018-08-01 | 0 days | 2,268 sqft |
2018-09-01 | 0 days | 2,204 sqft |
2018-10-01 | 0 days | 2,189 sqft |
2018-11-01 | 0 days | 2,129 sqft |
2018-12-01 | 0 days | 2,104 sqft |
2019-01-01 | 0 days | 2,052 sqft |
2019-02-01 | 0 days | 2,016 sqft |
2019-03-01 | 0 days | 2,078 sqft |
2019-04-01 | 0 days | 2,090 sqft |
2019-05-01 | 0 days | 2,149 sqft |
2019-06-01 | 0 days | 2,161 sqft |
2019-07-01 | 0 days | 2,201 sqft |
2019-08-01 | 0 days | 2,308 sqft |
2019-09-01 | 0 days | 2,387 sqft |
2019-10-01 | 0 days | 2,327 sqft |
2019-11-01 | 0 days | 2,266 sqft |
2019-12-01 | 0 days | 2,259 sqft |
2020-01-01 | 0 days | 2,273 sqft |
2020-02-01 | 0 days | 2,195 sqft |
2020-03-01 | 0 days | 2,042 sqft |
2020-04-01 | 0 days | 1,924 sqft |
2020-05-01 | 0 days | 1,877 sqft |
2020-06-01 | 0 days | 1,764 sqft |
2020-07-01 | 0 days | 1,778 sqft |
2020-08-01 | 0 days | 1,992 sqft |
2020-09-01 | 0 days | 2,144 sqft |
2020-10-01 | 0 days | 1,896 sqft |
2020-11-01 | 0 days | 1,908 sqft |
2020-12-01 | 0 days | 1,830 sqft |
2021-01-01 | 0 days | 1,680 sqft |
2021-02-01 | 0 days | 1,579 sqft |
2021-03-01 | 0 days | 1,599 sqft |
2021-04-01 | 0 days | 1,650 sqft |
2021-05-01 | 0 days | 1,600 sqft |
2021-06-01 | 0 days | 1,734 sqft |
2021-07-01 | 0 days | 1,840 sqft |
2021-08-01 | 0 days | 1,864 sqft |
2021-09-01 | 0 days | 1,992 sqft |
2021-10-01 | 0 days | 2,172 sqft |
2021-11-01 | 0 days | 1,901 sqft |
2021-12-01 | 0 days | 2,165 sqft |
2022-01-01 | 0 days | 2,111 sqft |
2022-02-01 | 0 days | 2,200 sqft |
2022-03-01 | 0 days | 2,004 sqft |
2022-04-01 | 0 days | 2,305 sqft |
2022-05-01 | 0 days | 2,024 sqft |
Norfolk's median square footage for active listings during the 2022-05-01 period was 2,024 sqft. One year prior, the average listing was 1,600 sqft.