Olean Mortgage Rates
30 Year Fixed Rate mortgages in Olean averaged
6.19%
for the week of 2022-06-30, compared to the national average of
5.7% for the same period.
The average rate for the prior week (2022-06-23) was
6.3% and
one month ago for the week of 2022-05-26, the
average rate was 5.69%.
Olean's average rate one year ago was 3.17%.
For refis of the same type during the week of 2022-06-30, the average rate
was 5.78%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2022-06-30 | 5.7% |
Olean 30 Year Fixed Rate | 2022-06-30 | 6.19% |
Olean 30 Year Fixed Rate Refi | 2022-06-30 | 5.78% |
Olean 15 Year Fixed Rate | 2022-06-30 | 6.04% |
Olean 15 Year Fixed Rate Refi | 2022-06-30 | 5.74% |
Olean 30 Year FHA | 2022-06-30 | 6.02% |
Olean 30 Year FHA Refi | 2022-06-30 | 5.9% |
Olean 30 Year USDA | 2022-06-30 | 5.87% |
Olean 30 Year USDA Refi | 2022-06-30 | 4.85% |
Olean 30 Year VA | 2022-06-30 | 5.65% |
Olean 30 Year VA Refi | 2022-06-30 | 5.68% |
Olean 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 Olean, NY 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.).
Olean, NY's 61 lenders originated 1,410
loans during 2021. The total origination value was $204,590,000, with an average loan value of
$145,099.
The top Olean lender as defined by loan originations is Community Bank, with
103 loans originated. Their average total fees are
$647, which is $4,729
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Olean lenders (with over 10 loans originated) are
Community Bank ($647), Premium Mortgage Corporation ($3,107), HOMESTEAD FUNDING CORP. ($3,169), KeyBank ($3,478) and Manufacturers and Traders Trust Company ($3,516).
The lowest rate Olean lenders (with over 10 loans originated) are
KeyBank (3.03%), Five Star Bank (3.04%), UNITED WHOLESALE MORTGAGE, LLC (3.07%), 1ST PRIORITY MORTGAGE, INC. (3.09%) and Manufacturers and Traders Trust Company (3.14%).
Olean, NY 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 |
---|---|---|---|---|
Community Bank | $21,270,000 | $31,470,000 | 48.0% | 15.4% |
QUICKEN LOANS, LLC | $15,320,000 | $25,260,000 | 64.9% | 12.3% |
Manufacturers and Traders Trust Company | $11,120,000 | $16,835,000 | 51.4% | 8.2% |
KeyBank | $6,065,000 | $9,575,000 | 57.9% | 4.7% |
Premium Mortgage Corporation | $4,520,000 | $8,475,000 | 87.5% | 4.1% |
Northwest Bank | $7,670,000 | $8,310,000 | 8.3% | 4.1% |
UNITED WHOLESALE MORTGAGE, LLC | $2,300,000 | $8,055,000 | 250.2% | 3.9% |
Cattaraugus County Bank | $6,490,000 | $7,650,000 | 17.9% | 3.7% |
Five Star Bank | $10,650,000 | $7,550,000 | -29.1% | 3.7% |
1ST PRIORITY MORTGAGE, INC. | $4,825,000 | $5,455,000 | 13.1% | 2.7% |
HOMESTEAD FUNDING CORP. | $3,315,000 | $5,430,000 | 63.8% | 2.7% |
PARAGON HOME LOANS INC. | $5,935,000 | $5,235,000 | -11.8% | 2.6% |
Bank of Holland | $1,555,000 | $3,510,000 | 125.7% | 1.7% |
Mortgage Research Center, LLC | $1,185,000 | $3,480,000 | 193.7% | 1.7% |
Bank of America | $840,000 | $3,075,000 | 266.1% | 1.5% |
Farm Credit East, ACA | $1,555,000 | $2,970,000 | 91.0% | 1.5% |
LOANDEPOT.COM, LLC | $1,905,000 | $2,845,000 | 49.3% | 1.4% |
Evans Bank | $2,160,000 | $2,810,000 | 30.1% | 1.4% |
HUNT MORTGAGE CORPORATION | $1,950,000 | $2,680,000 | 37.4% | 1.3% |
Citizens Bank | $2,250,000 | $2,565,000 | 14.0% | 1.3% |
Wells Fargo Bank | $1,870,000 | $2,515,000 | 34.5% | 1.2% |
CALIBER HOME LOANS, INC. | $925,000 | $2,370,000 | 156.2% | 1.2% |
Mr. Cooper ( Nationstar Mortgage ) | $1,810,000 | $2,145,000 | 18.5% | 1.0% |
MOVEMENT MORTGAGE, LLC | $1,950,000 | n/a | 1.0% | |
CNB Bank | $1,440,000 | $1,885,000 | 30.9% | 0.9% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $2,615,000 | $1,830,000 | -30.0% | 0.9% |
Barrington Bank & Trust Company, N.A. | $460,000 | $1,720,000 | 273.9% | 0.8% |
EVERETT FINANCIAL, INC. | $1,440,000 | $1,155,000 | -19.8% | 0.6% |
NAVY FEDERAL CREDIT UNION | $635,000 | $1,075,000 | 69.3% | 0.5% |
NEWREZ LLC | $710,000 | $1,075,000 | 51.4% | 0.5% |
CROSSCOUNTRY MORTGAGE, LLC | $285,000 | $1,050,000 | 268.4% | 0.5% |
AMERICAN FINANCIAL NETWORK, INC. | $55,000 | $1,010,000 | 1,736.4% | 0.5% |
JPMorgan Chase Bank | $1,370,000 | $945,000 | -31.0% | 0.5% |
Genesee Regional Bank | $205,000 | $885,000 | 331.7% | 0.4% |
HOME POINT FINANCIAL CORPORATION | $1,160,000 | $875,000 | -24.6% | 0.4% |
FREEDOM MORTGAGE CORPORATION | $325,000 | $800,000 | 146.2% | 0.4% |
PNC Bank | $75,000 | $745,000 | 893.3% | 0.4% |
RBC Bank, (Georgia) | $1,190,000 | $670,000 | -43.7% | 0.3% |
Alden State Bank | $1,370,000 | $625,000 | -54.4% | 0.3% |
First National Bank of Pennsylvania | $185,000 | $620,000 | 235.1% | 0.3% |
OWNERSCHOICE FUNDING, INCORPORATED | $205,000 | $610,000 | 197.6% | 0.3% |
USAA Federal Savings Bank | $1,760,000 | $610,000 | -65.3% | 0.3% |
PLAZA HOME MORTGAGE, INC. | $1,085,000 | $605,000 | -44.2% | 0.3% |
The Bank of Castile | $1,815,000 | $565,000 | -68.9% | 0.3% |
Visio Financial Services Inc. | $550,000 | n/a | 0.3% | |
Morgan Stanley Private Bank | $545,000 | n/a | 0.3% | |
HOME TOWN FUNDING, INC. | $675,000 | $530,000 | -21.5% | 0.3% |
The Juniata Valley Bank | $435,000 | n/a | 0.2% | |
TD Bank | $1,245,000 | $425,000 | -65.9% | 0.2% |
Civista Bank | $415,000 | n/a | 0.2% | |
RELIANCE FIRST CAPITAL, LLC | $465,000 | $405,000 | -12.9% | 0.2% |
ROUNDPOINT MORTGAGE SERVICING CORPORATION | $405,000 | n/a | 0.2% | |
AMERICAN FINANCING CORPORATION | $375,000 | n/a | 0.2% | |
Lake Shore Savings Bank | $1,190,000 | $375,000 | -68.5% | 0.2% |
21ST MORTGAGE CORPORATION | $900,000 | $365,000 | -59.4% | 0.2% |
CREDIT HUMAN FEDERAL CREDIT UNION | $140,000 | $365,000 | 160.7% | 0.2% |
ROYAL UNITED MORTGAGE LLC | $345,000 | $360,000 | 4.3% | 0.2% |
STATE EMPLOYEES FEDERAL CREDIT UNION | $345,000 | n/a | 0.2% | |
The Federal Savings Bank | $335,000 | n/a | 0.2% | |
DRAPER AND KRAMER MORTGAGE CORP. | $315,000 | n/a | 0.2% | |
ONTARIO SHORES | $305,000 | n/a | 0.1% | |
BETTER MORTGAGE CORPORATION | $125,000 | $295,000 | 136.0% | 0.1% |
SERVU FEDERAL CREDIT UNION | $290,000 | n/a | 0.1% | |
NIAGARA'S CHOICE | $285,000 | n/a | 0.1% | |
ALLIED MORTGAGE GROUP, INC. | $275,000 | n/a | 0.1% | |
NATIONWIDE MORTGAGE BANKERS, INC. | $265,000 | n/a | 0.1% | |
Citizens & Northern Bank | $260,000 | n/a | 0.1% | |
Empower Federal Credit Union | $15,000 | $260,000 | 1,633.3% | 0.1% |
PREMIA MORTGAGE, LLC | $165,000 | $255,000 | 54.5% | 0.1% |
Third Federal Savings and Loan Association of Cleveland | $155,000 | $255,000 | 64.5% | 0.1% |
The Huntington National Bank | $155,000 | $245,000 | 58.1% | 0.1% |
U.S. Bank | $175,000 | $245,000 | 40.0% | 0.1% |
Discover Bank | $55,000 | $235,000 | 327.3% | 0.1% |
Fifth Third Bank | $355,000 | $225,000 | -36.6% | 0.1% |
GREATER WOODLAWN FEDERAL CREDIT UNION | $215,000 | $220,000 | 2.3% | 0.1% |
AMERICU Credit Union | $205,000 | n/a | 0.1% | |
The Genoa Banking Company | $205,000 | n/a | 0.1% | |
PENTAGON FEDERAL CREDIT UNION | $195,000 | $195,000 | 0.0% | 0.1% |
Bank of England | $820,000 | $190,000 | -76.8% | 0.1% |
AMERICAN FINANCIAL RESOURCES, INC. | $175,000 | n/a | 0.1% | |
KINECTA | $175,000 | n/a | 0.1% | |
Nations Lending Corporation | $165,000 | n/a | 0.1% | |
North American Savings Bank, F.S.B. | $175,000 | $155,000 | -11.4% | 0.1% |
HUDSON VALLEY CREDIT UNION | $145,000 | n/a | 0.1% | |
TOTAL MORTGAGE SERVICES, LLC | $135,000 | n/a | 0.1% | |
Chemung Canal Trust Company | $125,000 | n/a | 0.1% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $105,000 | n/a | 0.1% | |
CCFCU FUNDING, LLC | $55,000 | $95,000 | 72.7% | 0.0% |
Equity Prime Mortgage LLC | $95,000 | n/a | 0.0% | |
FIRST CREDIT CORPORATION OF NEW YORK, INC. | $70,000 | n/a | 0.0% | |
ARC HOME LLC | $65,000 | n/a | 0.0% | |
Carrington Mortgage Services, LLC | $315,000 | $55,000 | -82.5% | 0.0% |
HSBC BANK USA, NATIONAL ASSOCIATION | $110,000 | $55,000 | -50.0% | 0.0% |
TRIAD FINANCIAL SERVICES, INC. | $90,000 | $45,000 | -50.0% | 0.0% |
AMERICAN ADVISORS GROUP | $55,000 | $35,000 | -36.4% | 0.0% |
CAPITAL COMMUNICATIONS Federal Credit Union | $35,000 | n/a | 0.0% | |
The Canandaigua National Bank and Trust Company | $1,450,000 | $35,000 | -97.6% | 0.0% |
Olean's top lender by overall market share is Community Bank, with 15.4% market share. In second place, with 12.3%, is QUICKEN LOANS, LLC, having originated $25,260,000 in loans. In third place, with 8.2%, is Manufacturers and Traders Trust Company, having originated $16,835,000 in loans. In third place, with 4.7%, is KeyBank, having originated $9,575,000 in loans. In third place, with 4.1%, is Premium Mortgage Corporation, having originated $8,475,000 in loans.
Olean, NY Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 766 | $126,650,000 | $165,339 |
Refi | 368 | $46,870,000 | $127,364 |
Cash Out Refi | 151 | $22,175,000 | $146,854 |
Home Improvement | 82 | $5,270,000 | $64,268 |
Other | 43 | $3,625,000 | $84,302 |
Olean's most frequently cited loan purpose was Home Purchase, with 766 originations. The 2nd most popular reason was Refi, with 368 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 619 | $83,155,000 | $134,338 |
2.5-3% | 428 | $69,880,000 | $163,271 |
<2.5% | 156 | $23,120,000 | $148,205 |
4-5% | 72 | $9,250,000 | $128,472 |
6-7% | 18 | $1,110,000 | $61,667 |
5-6% | 15 | $1,565,000 | $104,333 |
7-8% | 5 | $165,000 | $33,000 |
Over 8% | 3 | $85,000 | $28,333 |
During 2021, Olean's most frequently originated rate bucket was 3-4%, with 619 originations.
Loan Sizing (Olean, NY MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 597 | $38,305,000 | $64,162 |
$100k-200k | 493 | $68,815,000 | $139,584 |
$200k-400k | 274 | $74,470,000 | $271,788 |
$400k-600k | 40 | $19,010,000 | $475,250 |
$600k-1000k | 6 | $3,990,000 | $665,000 |
Olean's loan sizing saw the bucket of loans from $100,000 or less with 597 originations, totaling $38,305,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 620 | $96,130,000 | $155,048 |
60-80% | 399 | $67,235,000 | $168,509 |
40-60% | 162 | $15,360,000 | $94,815 |
20-40% | 82 | $5,970,000 | $72,805 |
Under 20% | 35 | $985,000 | $28,143 |
Over 100% | 7 | $1,265,000 | $180,714 |
Olean's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 620 originations, totaling $96,130,000 in origination value.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Olean (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 | $120,000 (3.3%) | $195,738 (8.9%) | 0.00 | 487 |
2018-02-01 | $125,450 (6.3%) | $204,440 (14.3%) | 0.00 | 476 |
2018-03-01 | $129,000 (7.6%) | $206,684 (11.1%) | 0.00 | 470 |
2018-04-01 | $127,450 (6.2%) | $203,795 (9.1%) | 0.00 | 465 |
2018-05-01 | $124,950 (4.1%) | $199,320 (6.7%) | 0.00 | 485 |
2018-06-01 | $124,000 (2.6%) | $198,640 (6.6%) | 0.00 | 524 |
2018-07-01 | $125,000 (0.1%) | $197,976 (5.1%) | 0.00 | 540 |
2018-08-01 | $126,700 (1.6%) | $196,344 (2.9%) | 0.00 | 552 |
2018-09-01 | $120,000 (-4.0%) | $191,633 (-0.9%) | 0.00 | 531 |
2018-10-01 | $123,500 (-1.2%) | $189,503 (-4.2%) | 0.00 | 519 |
2018-11-01 | $119,950 (-1.6%) | $185,017 (-6.9%) | 0.00 | 504 |
2018-12-01 | $119,900 (-3.7%) | $186,326 (-8.9%) | 0.00 | 461 |
2019-01-01 | $119,900 (-0.1%) | $190,362 (-2.8%) | 0.00 | 430 |
2019-02-01 | $119,900 (-4.4%) | $193,982 (-5.1%) | 0.00 | 415 |
2019-03-01 | $130,657 (1.3%) | $206,078 (-0.3%) | 0.00 | 392 |
2019-04-01 | $147,000 (15.3%) | $216,650 (6.3%) | 0.00 | 365 |
2019-05-01 | $139,700 (11.8%) | $210,109 (5.4%) | 0.00 | 367 |
2019-06-01 | $139,900 (12.8%) | $207,378 (4.4%) | 0.00 | 391 |
2019-07-01 | $139,700 (11.8%) | $205,271 (3.7%) | 0.00 | 413 |
2019-08-01 | $143,329 (13.1%) | $207,472 (5.7%) | 0.00 | 412 |
2019-09-01 | $144,829 (20.7%) | $209,055 (9.1%) | 0.00 | 411 |
2019-10-01 | $146,750 (18.8%) | $214,016 (12.9%) | 0.00 | 409 |
2019-11-01 | $139,900 (16.6%) | $212,029 (14.6%) | 0.00 | 389 |
2019-12-01 | $143,950 (20.1%) | $215,366 (15.6%) | 0.00 | 375 |
2020-01-01 | $167,000 (39.3%) | $235,285 (23.6%) | 0.00 | 344 |
2020-02-01 | $165,000 (37.6%) | $234,105 (20.7%) | 0.00 | 336 |
2020-03-01 | $161,450 (23.6%) | $231,107 (12.2%) | 0.00 | 328 |
2020-04-01 | $161,450 (9.8%) | $232,520 (7.3%) | 0.00 | 313 |
2020-05-01 | $164,900 (18.0%) | $226,716 (7.9%) | 0.00 | 313 |
2020-06-01 | $172,000 (22.9%) | $228,403 (10.1%) | 0.00 | 293 |
2020-07-01 | $169,900 (21.6%) | $230,008 (12.1%) | 0.00 | 280 |
2020-08-01 | $170,000 (18.6%) | $235,855 (13.7%) | 0.00 | 268 |
2020-09-01 | $139,900 (-3.4%) | $229,187 (9.6%) | 0.00 | 255 |
2020-10-01 | $135,000 (-8.0%) | $228,205 (6.6%) | 0.00 | 242 |
2020-11-01 | $129,900 (-7.2%) | $227,587 (7.3%) | 0.00 | 224 |
2020-12-01 | $124,250 (-13.7%) | $223,779 (3.9%) | 0.00 | 208 |
2021-01-01 | $129,900 (-22.2%) | $232,395 (-1.2%) | 0.00 | 183 |
2021-02-01 | $117,000 (-29.1%) | $230,573 (-1.5%) | 0.00 | 160 |
2021-03-01 | $124,450 (-22.9%) | $236,088 (2.2%) | 0.00 | 138 |
2021-04-01 | $133,450 (-17.3%) | $234,853 (1.0%) | 0.00 | 130 |
2021-05-01 | $120,000 (-27.2%) | $220,054 (-2.9%) | 0.00 | 123 |
2021-06-01 | $120,000 (-30.2%) | $218,750 (-4.2%) | 0.00 | 140 |
2021-07-01 | $125,000 (-26.4%) | $211,591 (-8.0%) | 0.00 | 153 |
2021-08-01 | $130,750 (-23.1%) | $206,903 (-12.3%) | 0.00 | 147 |
2021-09-01 | $126,400 (-9.7%) | $204,280 (-10.9%) | 0.00 | 151 |
2021-10-01 | $125,000 (-7.4%) | $205,002 (-10.2%) | 0.00 | 147 |
2021-11-01 | $125,000 (-3.8%) | $214,181 (-5.9%) | 0.00 | 137 |
2021-12-01 | $120,000 (-3.4%) | $209,193 (-6.5%) | 0.00 | 129 |
2022-01-01 | $115,000 (-11.5%) | $211,169 (-9.1%) | 0.00 | 113 |
2022-02-01 | $120,000 (2.6%) | $195,743 (-15.1%) | 0.00 | 90 |
2022-03-01 | $121,500 (-2.4%) | $192,510 (-18.5%) | 0.00 | 98 |
2022-04-01 | $119,900 (-10.2%) | $216,538 (-7.8%) | 0.00 | 102 |
2022-05-01 | $121,450 (1.2%) | $220,470 (0.2%) | 0.00 | 108 |
2022-06-01 | $129,900 (8.3%) | $219,325 (0.3%) | 0.00 | 116 |
Olean's median listing price comes in at 0% of the national average.
Olean's average listing price for 2022-06-01 was $219,325, a difference of $575 (0.3%) versus the prior year and $-1,145 versus the prior month.
For the 2022-06-01 period, Olean had 116 MLS listings, a difference of 8 listings (7%) versus the prior month and -24 listings (-17%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Olean (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,596 sqft |
2018-02-01 | 0 days | 1,584 sqft |
2018-03-01 | 0 days | 1,600 sqft |
2018-04-01 | 0 days | 1,629 sqft |
2018-05-01 | 0 days | 1,614 sqft |
2018-06-01 | 0 days | 1,640 sqft |
2018-07-01 | 0 days | 1,656 sqft |
2018-08-01 | 0 days | 1,632 sqft |
2018-09-01 | 0 days | 1,620 sqft |
2018-10-01 | 0 days | 1,617 sqft |
2018-11-01 | 0 days | 1,609 sqft |
2018-12-01 | 0 days | 1,600 sqft |
2019-01-01 | 0 days | 1,584 sqft |
2019-02-01 | 0 days | 1,587 sqft |
2019-03-01 | 0 days | 1,621 sqft |
2019-04-01 | 0 days | 1,622 sqft |
2019-05-01 | 0 days | 1,602 sqft |
2019-06-01 | 0 days | 1,600 sqft |
2019-07-01 | 0 days | 1,600 sqft |
2019-08-01 | 0 days | 1,653 sqft |
2019-09-01 | 0 days | 1,680 sqft |
2019-10-01 | 0 days | 1,696 sqft |
2019-11-01 | 0 days | 1,700 sqft |
2019-12-01 | 0 days | 1,696 sqft |
2020-01-01 | 0 days | 1,729 sqft |
2020-02-01 | 0 days | 1,725 sqft |
2020-03-01 | 0 days | 1,707 sqft |
2020-04-01 | 0 days | 1,716 sqft |
2020-05-01 | 0 days | 1,642 sqft |
2020-06-01 | 0 days | 1,668 sqft |
2020-07-01 | 0 days | 1,676 sqft |
2020-08-01 | 0 days | 1,680 sqft |
2020-09-01 | 0 days | 1,632 sqft |
2020-10-01 | 0 days | 1,616 sqft |
2020-11-01 | 0 days | 1,602 sqft |
2020-12-01 | 0 days | 1,578 sqft |
2021-01-01 | 0 days | 1,596 sqft |
2021-02-01 | 0 days | 1,501 sqft |
2021-03-01 | 0 days | 1,532 sqft |
2021-04-01 | 0 days | 1,519 sqft |
2021-05-01 | 0 days | 1,473 sqft |
2021-06-01 | 0 days | 1,501 sqft |
2021-07-01 | 0 days | 1,506 sqft |
2021-08-01 | 0 days | 1,548 sqft |
2021-09-01 | 0 days | 1,637 sqft |
2021-10-01 | 0 days | 1,664 sqft |
2021-11-01 | 0 days | 1,533 sqft |
2021-12-01 | 0 days | 1,536 sqft |
2022-01-01 | 0 days | 1,410 sqft |
2022-02-01 | 0 days | 1,335 sqft |
2022-03-01 | 0 days | 1,440 sqft |
2022-04-01 | 0 days | 1,454 sqft |
2022-05-01 | 0 days | 1,519 sqft |
2022-06-01 | 0 days | 1,531 sqft |
Olean's median square footage for active listings during the 2022-06-01 period was 1,531 sqft. One year prior, the average listing was 1,501 sqft.