Oil City 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 Oil City averaged 7.01% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 7.09% and one month ago for the week of 2024-03-14, the average rate was 6.65%.

    Oil City's average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.5%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Oil City 30 Year Fixed Rate 2024-04-18 7.01%
    Oil City 30 Year Fixed Rate Refi 2024-04-18 7.5%
    Oil City 15 Year Fixed Rate 2024-04-18 6.19%
    Oil City 15 Year Fixed Rate Refi 2024-04-18 6.59%
    Oil City 30 Year FHA 2024-04-18 6.76%
    Oil City 30 Year FHA Refi 2024-04-18 7.06%
    Oil City 30 Year USDA 2024-04-18 6.96%
    Oil City 30 Year USDA Refi 2024-04-18 7.06%
    Oil City 30 Year VA 2024-04-18 6.76%
    Oil City 30 Year VA Refi 2024-04-18 6.96%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Oil City, PA.

    Oil City 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 Oil City, PA 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
    TIDEWATER MORTGAGE SERVICES, INC. 36 6.63% $4,691
    QUICKEN LOANS, LLC 24 7.10% $5,488
    Northwest Bank 18 6.67% $3,953
    PENNSYLVANIA STATE EMPLOYEES Credit Union 7 6.39% $2,471
    The Farmers National Bank of Canfield 7 7.11% $4,623
    UNITED WHOLESALE MORTGAGE, LLC 6 6.77% $6,740
    Citizens Bank 6 6.48% $4,128
    AFFORDABLE MORTGAGE ADVISORS, LLC. 4 6.41% $4,155
    PNC Bank 4 6.94% $4,526
    Marquette Savings Bank 4 6.81% $3,440
    First National Bank of Pennsylvania 4 6.56% $3,845
    UNION HOME MORTGAGE CORP. 4 7.25% $5,809
    NAVY FEDERAL CREDIT UNION 3 6.83% $2,694
    CNB Bank 2 6.13% $4,048
    GUARANTEED RATE AFFINITY, LLC 2 6.46% $4,459
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.38% $4,158
    GSF Mortgage Corporation 2 5.75% $5,409
    Ixonia Bank 2 6.94% $5,059
    Sierra Pacific Mortgage Company, Inc. 1 7.13% $11,475
    The Huntington National Bank 1 7.50% $5,372
    U.S. Bank 1 6.50% $3,667
    Wells Fargo Bank 1 6.75% $6,819
    WEST PENN FINANCIAL SERVICE CENTER, INC. 1 5.88% $4,917
    AMERICAN FINANCIAL NETWORK, INC. 1 7.63% $7,725
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $9,016
    AmeriServ Financial Bank 1 5.50% $2,434
    BROKER SOLUTIONS, INC. 1 7.63% $7,818
    CARDINAL FINANCIAL 1 8.13% $9,013
    Dollar Bank, Federal Savings Bank 1 6.13% $7,515
    EVANSVILLE TEACHERS 1 7.50% $6,584
    First Commonwealth Bank 1 6.63% $3,870
    HSBC BANK USA, NATIONAL ASSOCIATION 1 7.50% $6,061
    JLB CORPORATION 1 7.50% $5,843
    MERCK SHARP & DOHME FEDERAL CREDIT UNION 1 6.63% $7,877
    MidAtlantic Farm Credit, ACA 1 7.38% $3,476
    NBKC BANK 1 6.75% $5,355
    PENNYMAC LOAN SERVICES, LLC 1 6.50% $4,984
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 8.38% $4,876
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $6,130
    Sail Mortgage Corp. 1 6.63% $4,882

    Oil City Average Closing Costs & Other Stats

    Oil City, PA's 40 lenders originated 597 loans during 2023. The total origination value was $68,805,000, with an average loan value of $115,251.

    Oil City's average closing costs are $4,798.

    The top Oil City lender as defined by loan originations is TIDEWATER MORTGAGE SERVICES, INC., with 36 loans originated. Their average total fees are $4,691, which is $797 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Oil City lenders (with over 10 loans originated) are Northwest Bank ($3,953), TIDEWATER MORTGAGE SERVICES, INC. ($4,691), QUICKEN LOANS, LLC ($5,488), .

    The lowest rate Oil City lenders (with over 10 loans originated) are TIDEWATER MORTGAGE SERVICES, INC. (6.63%), Northwest Bank (6.67%), QUICKEN LOANS, LLC (7.10%), .

    Oil City, PA 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
    Northwest Bank $13,850,000 $8,920,000 -35.6% 13.0%
    TIDEWATER MORTGAGE SERVICES, INC. $5,985,000 $7,385,000 23.4% 10.7%
    QUICKEN LOANS, LLC $7,820,000 $5,375,000 -31.3% 7.8%
    The Farmers National Bank of Canfield $5,270,000 n/a 7.7%
    Citizens Bank $4,450,000 $5,115,000 14.9% 7.4%
    First National Bank of Pennsylvania $5,595,000 $3,570,000 -36.2% 5.2%
    PENNSYLVANIA STATE EMPLOYEES Credit Union $1,960,000 $2,805,000 43.1% 4.1%
    PNC Bank $4,375,000 $2,185,000 -50.1% 3.2%
    UNITED WHOLESALE MORTGAGE, LLC $1,445,000 $2,065,000 42.9% 3.0%
    Mortgage Research Center, LLC $2,010,000 $1,835,000 -8.7% 2.7%
    Mercer County State Bank $1,640,000 $1,730,000 5.5% 2.5%
    Greenville Savings Bank $2,350,000 $1,305,000 -44.5% 1.9%
    NAVY FEDERAL CREDIT UNION $710,000 $1,160,000 63.4% 1.7%
    UNION HOME MORTGAGE CORP. $1,195,000 $1,035,000 -13.4% 1.5%
    Marquette Savings Bank $395,000 $995,000 151.9% 1.4%
    AFFORDABLE MORTGAGE ADVISORS, LLC. $250,000 $905,000 262.0% 1.3%
    CARDINAL FINANCIAL $2,915,000 $870,000 -70.2% 1.3%
    Ixonia Bank $755,000 n/a 1.1%
    CNB Bank $200,000 $595,000 197.5% 0.9%
    First Keystone Community Bank $555,000 n/a 0.8%
    Grove City Area Federal Credit Union $1,560,000 $555,000 -64.4% 0.8%
    Community Bank $475,000 n/a 0.7%
    HOWARD HANNA FINANCIAL SERVICES, INC. $565,000 $475,000 -15.9% 0.7%
    JLB CORPORATION $410,000 n/a 0.6%
    First Commonwealth Bank $515,000 $380,000 -26.2% 0.6%
    The Huntington National Bank $1,595,000 $345,000 -78.4% 0.5%
    NEXTIER BANK, NATIONAL ASSOCIATION $215,000 $340,000 58.1% 0.5%
    BROKER SOLUTIONS, INC. $550,000 $325,000 -40.9% 0.5%
    ServisFirst Bank $315,000 n/a 0.5%
    PLANET HOME LENDING, LLC $305,000 n/a 0.4%
    The Muncy Bank and Trust Company $305,000 n/a 0.4%
    Wells Fargo Bank $875,000 $305,000 -65.1% 0.4%
    S&T Bank $140,000 $300,000 114.3% 0.4%
    AMERISAVE MORTGAGE CORPORATION $295,000 n/a 0.4%
    ALLIED MORTGAGE GROUP, INC. $265,000 n/a 0.4%
    Flagstar Bank, FSB $635,000 $260,000 -59.1% 0.4%
    LOANPAL, LLC $230,000 n/a 0.3%
    EVANSVILLE TEACHERS $225,000 n/a 0.3%
    GSF Mortgage Corporation $210,000 n/a 0.3%
    InFirst Bank $275,000 $205,000 -25.5% 0.3%
    MERCK SHARP & DOHME FEDERAL CREDIT UNION $205,000 n/a 0.3%
    TOTAL MORTGAGE SERVICES, LLC $185,000 n/a 0.3%
    NBKC BANK $180,000 n/a 0.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $25,000 $180,000 620.0% 0.3%
    Discover Bank $140,000 $175,000 25.0% 0.3%
    Dollar Bank, Federal Savings Bank $955,000 $175,000 -81.7% 0.3%
    PENNYMAC LOAN SERVICES, LLC $405,000 $175,000 -56.8% 0.3%
    GUARANTEED RATE AFFINITY, LLC $170,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $165,000 n/a 0.2%
    MILEND, INC. $165,000 n/a 0.2%
    Union Savings Bank $520,000 $165,000 -68.3% 0.2%
    U.S. Bank $165,000 n/a 0.2%
    Carrington Mortgage Services, LLC $280,000 $145,000 -48.2% 0.2%
    USAA Federal Savings Bank $485,000 $145,000 -70.1% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $725,000 $140,000 -80.7% 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $250,000 $135,000 -46.0% 0.2%
    First Citizens Community Bank $135,000 n/a 0.2%
    HSBC BANK USA, NATIONAL ASSOCIATION $135,000 n/a 0.2%
    M&T Bank $565,000 $135,000 -76.1% 0.2%
    Sierra Pacific Mortgage Company, Inc. $135,000 n/a 0.2%
    WEST PENN FINANCIAL SERVICE CENTER, INC. $260,000 $135,000 -48.1% 0.2%
    Bank of America $55,000 $130,000 136.4% 0.2%
    EQUITY RESOURCES, INC. $125,000 n/a 0.2%
    RUOFF MORTGAGE COMPANY, INC. $125,000 n/a 0.2%
    Summit Mortgage Corporation $125,000 n/a 0.2%
    AmeriServ Financial Bank $45,000 $115,000 155.6% 0.2%
    Mars Bank $1,785,000 $115,000 -93.6% 0.2%
    NEWREZ LLC $335,000 $115,000 -65.7% 0.2%
    SSB Bank $115,000 n/a 0.2%
    AMERICAN FINANCIAL NETWORK, INC. $105,000 n/a 0.2%
    MEMBERS 1ST FEDERAL CREDIT UNION $105,000 n/a 0.2%
    NEW DAY FINANCIAL, LLC $230,000 $105,000 -54.3% 0.2%
    Paramount Residential Mortgage Group, Inc. $105,000 n/a 0.2%
    VILLAGE CAPITAL MORTGAGE $95,000 n/a 0.1%
    Equity Prime Mortgage LLC $350,000 $85,000 -75.7% 0.1%
    MidAtlantic Farm Credit, ACA $255,000 $85,000 -66.7% 0.1%
    SWBC MORTGAGE CORPORATION $85,000 n/a 0.1%
    ARMCO CREDIT UNION $520,000 $80,000 -84.6% 0.1%
    PHH Mortgage Corporation $75,000 n/a 0.1%
    FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $55,000 n/a 0.1%
    Sail Mortgage Corp. $55,000 n/a 0.1%
    COMMUNITY MORTGAGE FUNDING, LLC $45,000 n/a 0.1%
    CORNING $45,000 n/a 0.1%
    FRICK FINANCIAL FEDERAL CREDIT UNION $35,000 n/a 0.1%
    TRI BORO $25,000 n/a 0.0%

    Oil City's top lender by overall market share is Northwest Bank, with 13.0% market share. In second place, with 10.7%, is TIDEWATER MORTGAGE SERVICES, INC., having originated $7,385,000 in loans. In third place, with 7.8%, is QUICKEN LOANS, LLC, having originated $5,375,000 in loans. In fourth place, with 7.7%, is The Farmers National Bank of Canfield, having originated $5,270,000 in loans. In fifth place, with 7.4%, is Citizens Bank, having originated $5,115,000 in loans.

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

    Realtor.com - Oil City (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 $88,625 (6.9%) $125,894 (4.5%) 0.00 289
    2018-02-01 $88,500 (6.8%) $123,122 (0.4%) 0.00 289
    2018-03-01 $85,000 (1.3%) $119,014 (-4.9%) 0.00 300
    2018-04-01 $83,700 (-3.2%) $119,136 (-4.8%) 0.00 314
    2018-05-01 $83,700 (-6.9%) $119,536 (-6.5%) 0.00 333
    2018-06-01 $84,900 (-5.3%) $120,530 (-4.9%) 0.00 334
    2018-07-01 $87,875 (-2.9%) $127,391 (-2.9%) 0.00 333
    2018-08-01 $88,450 (-2.8%) $130,496 (-0.3%) 0.00 336
    2018-09-01 $93,500 (2.8%) $127,517 (-2.6%) 0.00 323
    2018-10-01 $95,900 (6.7%) $126,515 (-3.8%) 0.00 311
    2018-11-01 $96,175 (7.0%) $124,806 (-4.4%) 0.00 291
    2018-12-01 $94,200 (4.8%) $122,707 (-5.3%) 0.00 268
    2019-01-01 $89,800 (1.3%) $122,309 (-2.9%) 0.00 254
    2019-02-01 $89,575 (1.2%) $123,977 (0.7%) 0.00 247
    2019-03-01 $91,671 (7.9%) $126,941 (6.7%) 0.00 237
    2019-04-01 $96,700 (15.5%) $129,209 (8.5%) 0.00 220
    2019-05-01 $98,750 (18.0%) $125,756 (5.2%) 0.00 213
    2019-06-01 $97,400 (14.7%) $127,229 (5.6%) 0.00 211
    2019-07-01 $89,050 (1.3%) $122,909 (-3.5%) 0.00 224
    2019-08-01 $89,936 (1.7%) $121,850 (-6.6%) 0.00 234
    2019-09-01 $89,916 (-3.8%) $121,187 (-5.0%) 0.00 234
    2019-10-01 $89,900 (-6.3%) $121,163 (-4.2%) 0.00 232
    2019-11-01 $91,000 (-5.4%) $130,305 (4.4%) 0.00 231
    2019-12-01 $92,400 (-1.9%) $132,526 (8.0%) 0.00 224
    2020-01-01 $91,950 (2.4%) $134,243 (9.8%) 0.00 212
    2020-02-01 $94,700 (5.7%) $138,102 (11.4%) 0.00 200
    2020-03-01 $90,000 (-1.8%) $136,226 (7.3%) 0.00 192
    2020-04-01 $89,875 (-7.1%) $136,176 (5.4%) 0.00 183
    2020-05-01 $92,500 (-6.3%) $139,730 (11.1%) 0.00 167
    2020-06-01 $94,950 (-2.5%) $141,453 (11.2%) 0.00 169
    2020-07-01 $95,225 (6.9%) $146,833 (19.5%) 0.00 155
    2020-08-01 $89,950 (0.0%) $139,730 (14.7%) 0.00 139
    2020-09-01 $84,975 (-5.5%) $119,836 (-1.1%) 0.00 143
    2020-10-01 $91,000 (1.2%) $141,610 (16.9%) 0.00 139
    2020-11-01 $97,000 (6.6%) $147,251 (13.0%) 0.00 123
    2020-12-01 $99,700 (7.9%) $147,394 (11.2%) 0.00 113
    2021-01-01 $99,250 (7.9%) $140,997 (5.0%) 0.00 109
    2021-02-01 $99,475 (5.0%) $149,505 (8.3%) 0.00 98
    2021-03-01 $102,975 (14.4%) $164,037 (20.4%) 0.00 79
    2021-04-01 $99,600 (10.8%) $158,515 (16.4%) 0.00 87
    2021-05-01 $99,000 (7.0%) $152,975 (9.5%) 0.00 92
    2021-06-01 $114,900 (21.0%) $153,075 (8.2%) 0.00 91
    2021-07-01 $119,000 (25.0%) $172,106 (17.2%) 0.00 93
    2021-08-01 $119,000 (32.3%) $188,295 (34.8%) 0.00 87
    2021-09-01 $115,000 (35.3%) $163,500 (36.4%) 0.00 92
    2021-10-01 $112,400 (23.5%) $141,317 (-0.2%) 0.00 89
    2021-11-01 $97,725 (0.8%) $138,304 (-6.1%) 0.00 88
    2021-12-01 $90,600 (-9.1%) $138,243 (-6.2%) 0.00 93
    2022-01-01 $94,000 (-5.3%) $140,861 (-0.1%) 0.00 87
    2022-02-01 $98,225 (-1.3%) $148,653 (-0.6%) 0.00 83
    2022-03-01 $107,450 (4.4%) $169,044 (3.1%) 0.00 78
    2022-04-01 $128,000 (28.5%) $192,310 (21.3%) 0.00 76
    2022-05-01 $126,850 (28.1%) $188,253 (23.1%) 0.00 95
    2022-06-01 $130,075 (13.2%) $193,770 (26.6%) 0.00 108
    2022-07-01 $129,900 (9.2%) $187,312 (8.8%) 0.00 119
    2022-08-01 $132,050 (11.0%) $186,650 (-0.9%) 0.00 109
    2022-09-01 $122,450 (6.5%) $180,621 (10.5%) 0.00 102
    2022-10-01 $119,900 (6.7%) $164,242 (16.2%) 0.00 103
    2022-11-01 $125,000 (27.9%) $166,110 (20.1%) 0.00 106
    2022-12-01 $129,700 (43.2%) $194,273 (40.5%) 0.00 99
    2023-01-01 $127,175 (35.3%) $190,873 (35.5%) 0.00 93
    2023-02-01 $128,175 (30.5%) $190,087 (27.9%) 0.00 80
    2023-03-01 $128,725 (19.8%) $193,138 (14.3%) 0.00 72
    2023-04-01 $132,200 (3.3%) $196,896 (2.4%) 0.00 73
    2023-05-01 $133,950 (5.6%) $192,493 (2.3%) 0.00 75
    2023-06-01 $150,875 (16.0%) $206,635 (6.6%) 0.00 86
    2023-07-01 $160,000 (23.2%) $218,452 (16.6%) 0.00 98
    2023-08-01 $151,225 (14.5%) $242,005 (29.7%) 0.00 104
    2023-09-01 $157,000 (28.2%) $245,743 (36.1%) 0.00 106
    2023-10-01 $167,675 (39.9%) $245,934 (49.7%) 0.00 100
    2023-11-01 $148,000 (18.4%) $227,094 (36.7%) 0.00 105
    2023-12-01 $135,000 (4.1%) $226,585 (16.6%) 0.00 97
    2024-01-01 $135,000 (6.2%) $215,147 (12.7%) 0.00 92
    2024-02-01 $135,000 (5.3%) $208,920 (9.9%) 0.00 84
    2024-03-01 $140,000 (8.8%) $206,627 (7.0%) 0.00 87
    Oil City's median listing price for 2024-03-01 was $140,000, a difference of $11,275 (8.8%) versus the prior year and $5,000 versus the prior month.

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

    Oil City's average listing price for 2024-03-01 was $206,627, a difference of $13,489 (7.0%) versus the prior year and $-2,293 versus the prior month.

    For the 2024-03-01 period, Oil City had 87 MLS listings, a difference of 3 listings (4%) versus the prior month and 15 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Oil City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,509 sqft
    2018-02-01 0 days 1,509 sqft
    2018-03-01 0 days 1,496 sqft
    2018-04-01 0 days 1,494 sqft
    2018-05-01 0 days 1,513 sqft
    2018-06-01 0 days 1,521 sqft
    2018-07-01 0 days 1,528 sqft
    2018-08-01 0 days 1,536 sqft
    2018-09-01 0 days 1,536 sqft
    2018-10-01 0 days 1,522 sqft
    2018-11-01 0 days 1,528 sqft
    2018-12-01 0 days 1,528 sqft
    2019-01-01 0 days 1,512 sqft
    2019-02-01 0 days 1,512 sqft
    2019-03-01 0 days 1,516 sqft
    2019-04-01 0 days 1,509 sqft
    2019-05-01 0 days 1,486 sqft
    2019-06-01 0 days 1,496 sqft
    2019-07-01 0 days 1,506 sqft
    2019-08-01 0 days 1,505 sqft
    2019-09-01 0 days 1,492 sqft
    2019-10-01 0 days 1,500 sqft
    2019-11-01 0 days 1,538 sqft
    2019-12-01 0 days 1,532 sqft
    2020-01-01 0 days 1,537 sqft
    2020-02-01 0 days 1,537 sqft
    2020-03-01 0 days 1,491 sqft
    2020-04-01 0 days 1,453 sqft
    2020-05-01 0 days 1,488 sqft
    2020-06-01 0 days 1,527 sqft
    2020-07-01 0 days 1,549 sqft
    2020-08-01 0 days 1,515 sqft
    2020-09-01 0 days 1,462 sqft
    2020-10-01 0 days 1,459 sqft
    2020-11-01 0 days 1,516 sqft
    2020-12-01 0 days 1,526 sqft
    2021-01-01 0 days 1,560 sqft
    2021-02-01 0 days 1,579 sqft
    2021-03-01 0 days 1,571 sqft
    2021-04-01 0 days 1,575 sqft
    2021-05-01 0 days 1,617 sqft
    2021-06-01 0 days 1,584 sqft
    2021-07-01 0 days 1,529 sqft
    2021-08-01 0 days 1,636 sqft
    2021-09-01 0 days 1,482 sqft
    2021-10-01 0 days 1,456 sqft
    2021-11-01 0 days 1,455 sqft
    2021-12-01 0 days 1,459 sqft
    2022-01-01 0 days 1,507 sqft
    2022-02-01 0 days 1,513 sqft
    2022-03-01 0 days 1,514 sqft
    2022-04-01 0 days 1,544 sqft
    2022-05-01 0 days 1,544 sqft
    2022-06-01 0 days 1,515 sqft
    2022-07-01 0 days 1,448 sqft
    2022-08-01 0 days 1,465 sqft
    2022-09-01 0 days 1,403 sqft
    2022-10-01 0 days 1,480 sqft
    2022-11-01 0 days 1,477 sqft
    2022-12-01 0 days 1,515 sqft
    2023-01-01 0 days 1,560 sqft
    2023-02-01 0 days 1,556 sqft
    2023-03-01 0 days 1,469 sqft
    2023-04-01 0 days 1,407 sqft
    2023-05-01 0 days 1,443 sqft
    2023-06-01 0 days 1,476 sqft
    2023-07-01 0 days 1,588 sqft
    2023-08-01 0 days 1,610 sqft
    2023-09-01 0 days 1,624 sqft
    2023-10-01 0 days 1,626 sqft
    2023-11-01 0 days 1,631 sqft
    2023-12-01 0 days 1,685 sqft
    2024-01-01 0 days 1,644 sqft
    2024-02-01 0 days 1,655 sqft
    2024-03-01 0 days 1,632 sqft
    Oil City's median listing age (time on market) for 2024-03-01 was 0 days.

    Oil City's median square footage for active listings during the 2024-03-01 period was 1,632 sqft. One year prior, the average listing was 1,469 sqft.

    Oil City, PA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 276 $40,510,000 $146,775
    Home Improvement 102 $6,460,000 $63,333
    Other 81 $4,995,000 $61,667
    Refi 72 $11,380,000 $158,056
    Cash Out Refi 66 $5,460,000 $82,727

    Oil City's most frequently cited loan purpose was Home Purchase, with 276 originations. The 2nd most popular reason was Home Improvement, with 102 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 216 $29,840,000 $138,148
    7-8% 138 $16,420,000 $118,986
    Over 8% 106 $7,090,000 $66,887
    5-6% 84 $9,640,000 $114,762
    4-5% 10 $1,820,000 $182,000
    3-4% 6 $210,000 $35,000
    <2.5% 5 $295,000 $59,000
    2.5-3% 1 $75,000 $75,000

    During 2023, Oil City's most frequently originated rate bucket was 6-7%, with 216 originations.

    Loan Sizing (Oil City, PA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 328 $17,860,000 $54,451
    $100k-200k 212 $29,330,000 $138,349
    $200k-400k 46 $12,240,000 $266,087
    $400k-600k 6 $2,850,000 $475,000
    $600k-1000k 4 $2,720,000 $680,000
    $Over $1MM 1 $3,805,000 $3,805,000

    Oil City's loan sizing saw the bucket of loans from $100,000 or less with 328 originations, totaling $17,860,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 228 $33,220,000 $145,702
    60-80% 104 $17,560,000 $168,846
    20-40% 90 $5,180,000 $57,556
    40-60% 80 $6,210,000 $77,625
    Under 20% 58 $1,830,000 $31,552
    Over 100% 5 $1,185,000 $237,000

    Oil City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 228 originations, totaling $33,220,000 in origination value.