Olean 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 Olean averaged 7.17% for the week of 2022-11-23, compared to the national average of 6.58% for the same period.

    The average rate for the prior week (2022-11-17) was 7.2% and one month ago for the week of 2022-10-20, the average rate was 7.33%.

    Olean's average rate one year ago was 3.25%.

    For refis of the same type during the week of 2022-11-23, the average rate was 6.66%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-11-23 6.58%
    Olean 30 Year Fixed Rate 2022-11-23 7.17%
    Olean 30 Year Fixed Rate Refi 2022-11-23 6.66%
    Olean 15 Year Fixed Rate 2022-11-23 7.01%
    Olean 15 Year Fixed Rate Refi 2022-11-23 6.61%
    Olean 30 Year FHA 2022-11-23 -0.05%
    Olean 30 Year FHA Refi 2022-11-23 0.23%
    Olean 30 Year USDA 2022-11-23 0.37%
    Olean 30 Year USDA Refi 2022-11-23 -0.46%
    Olean 30 Year VA 2022-11-23 0.53%
    Olean 30 Year VA Refi 2022-11-23 0.16%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Olean, NY.

    Olean 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 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.).

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    Community Bank 103 3.63% $647
    QUICKEN LOANS, LLC 49 3.21% $5,376
    M&T Bank 35 3.14% $3,516
    Premium Mortgage Corporation 31 3.19% $3,107
    UNITED WHOLESALE MORTGAGE, LLC 28 3.07% $5,973
    KeyBank 23 3.03% $3,478
    Northwest Bank 21 3.17% $4,154
    1ST PRIORITY MORTGAGE, INC. 18 3.09% $4,116
    Five Star Bank 17 3.04% $4,328
    HOMESTEAD FUNDING CORP. 14 3.26% $3,169
    Wells Fargo Bank 8 3.41% $3,425
    HUNT MORTGAGE CORPORATION 8 3.14% $3,321
    Farm Credit East, ACA 8 3.78% $6,352
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 3.48% $4,113
    MOVEMENT MORTGAGE, LLC 7 3.11% $3,780
    Bank of America 7 2.88% $4,486
    CALIBER HOME LOANS, INC. 7 3.10% $6,595
    LOANDEPOT.COM, LLC 5 3.07% $5,971
    Citizens Bank 5 3.40% $4,393
    HOME POINT FINANCIAL CORPORATION 4 3.41% $4,534
    NEWREZ LLC 4 3.31% $3,449
    JPMorgan Chase Bank 4 3.00% $4,676
    Mr. Cooper ( Nationstar Mortgage ) 3 3.63% $3,764
    OWNERSCHOICE FUNDING, INCORPORATED 3 3.00% $3,986
    PARAGON HOME LOANS INC. 3 3.33% $3,804
    CNB Bank 3 2.88% $3,609
    CROSSCOUNTRY MORTGAGE, LLC 3 3.08% $4,457
    NAVY FEDERAL CREDIT UNION 3 3.63% $2,482
    Discover Bank 2 5.50% $0
    RBC Bank, (Georgia) 2 3.38% $3,471
    GREATER WOODLAWN FEDERAL CREDIT UNION 2 3.18% $2,796
    First National Bank of Pennsylvania 2 3.06% $4,583
    EVERETT FINANCIAL, INC. 2 3.25% $1,663
    ROYAL UNITED MORTGAGE LLC 1 4.25% $6,814
    AMERICAN FINANCING CORPORATION 1 3.63% $3,699
    AMERICU Credit Union 1 3.25% $3,664
    BETTER MORTGAGE CORPORATION 1 2.88% $4,480
    Chemung Canal Trust Company 1 3.00% $2,600
    Empower Federal Credit Union 1 3.00% $4,491
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.00% $3,716
    Fifth Third Bank 1 2.99% $4,754
    Genesee Regional Bank 1 3.25% $3,627
    HOME TOWN FUNDING, INC. 1 2.88% $1,165
    HUDSON VALLEY CREDIT UNION 1 2.75% $2,450
    KINECTA 1 3.13% $3,386
    Morgan Stanley Private Bank 1 2.60% $6,609
    Nations Lending Corporation 1 2.88% $7,413
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.50% $6,441
    NIAGARA'S CHOICE 1 3.00% $3,113
    ONTARIO SHORES 1 3.00% $3,003
    PENTAGON FEDERAL CREDIT UNION 1 3.13% $3,452
    PLAZA HOME MORTGAGE, INC. 1 2.99% $5,636
    PNC Bank 1 3.00% $7,483
    PREMIA MORTGAGE, LLC 1 3.38% $0
    RELIANCE FIRST CAPITAL, LLC 1 3.25% $4,541
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.13% $3,908
    TD Bank 1 3.13% $2,398
    The Federal Savings Bank 1 3.13% $4,334
    The Genoa Banking Company 1 3.00% $3,458
    The Huntington National Bank 1 3.13% $5,186
    TOTAL MORTGAGE SERVICES, LLC 1 3.88% $4,061

    Olean Average Closing Costs & Other Stats

    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.

    Olean's average closing costs are $3,631.

    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 M&T Bank ($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 M&T Bank (3.14%).

    Olean, NY 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 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 fourth place, with 4.7%, is KeyBank, having originated $9,575,000 in loans. In fifth place, with 4.1%, is Premium Mortgage Corporation, having originated $8,475,000 in loans.

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

    Realtor.com - Olean (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 $119,900 (1.2%) $195,421 (7.9%) 0.00 510
    2018-02-01 $124,950 (5.4%) $205,276 (14.5%) 0.00 495
    2018-03-01 $129,000 (7.6%) $208,412 (11.7%) 0.00 482
    2018-04-01 $126,475 (5.5%) $205,997 (9.7%) 0.00 476
    2018-05-01 $125,000 (4.2%) $202,300 (8.2%) 0.00 497
    2018-06-01 $124,450 (2.5%) $201,141 (7.7%) 0.00 537
    2018-07-01 $127,950 (2.9%) $200,751 (7.0%) 0.00 559
    2018-08-01 $126,100 (1.0%) $196,875 (3.0%) 0.00 571
    2018-09-01 $120,000 (-4.7%) $191,557 (-2.5%) 0.00 553
    2018-10-01 $121,225 (-2.9%) $189,629 (-4.7%) 0.00 539
    2018-11-01 $119,900 (-1.6%) $186,119 (-7.1%) 0.00 523
    2018-12-01 $119,900 (-1.6%) $187,835 (-8.3%) 0.00 478
    2019-01-01 $119,900 (0.0%) $191,506 (-2.0%) 0.00 444
    2019-02-01 $119,900 (-4.0%) $195,272 (-4.9%) 0.00 434
    2019-03-01 $131,686 (2.1%) $208,028 (-0.2%) 0.00 406
    2019-04-01 $148,650 (17.5%) $220,052 (6.8%) 0.00 377
    2019-05-01 $145,950 (16.8%) $214,825 (6.2%) 0.00 382
    2019-06-01 $144,900 (16.4%) $211,615 (5.2%) 0.00 408
    2019-07-01 $139,900 (9.3%) $206,967 (3.1%) 0.00 426
    2019-08-01 $143,445 (13.8%) $209,050 (6.2%) 0.00 423
    2019-09-01 $144,264 (20.2%) $211,533 (10.4%) 0.00 423
    2019-10-01 $141,859 (17.0%) $210,811 (11.2%) 0.00 424
    2019-11-01 $131,950 (10.1%) $206,454 (10.9%) 0.00 405
    2019-12-01 $135,475 (13.0%) $212,417 (13.1%) 0.00 386
    2020-01-01 $154,950 (29.2%) $229,290 (19.7%) 0.00 353
    2020-02-01 $157,500 (31.4%) $228,850 (17.2%) 0.00 345
    2020-03-01 $153,750 (16.8%) $225,375 (8.3%) 0.00 338
    2020-04-01 $158,250 (6.5%) $229,055 (4.1%) 0.00 318
    2020-05-01 $164,900 (13.0%) $229,797 (7.0%) 0.00 321
    2020-06-01 $169,500 (17.0%) $226,567 (7.1%) 0.00 303
    2020-07-01 $162,450 (16.1%) $225,541 (9.0%) 0.00 287
    2020-08-01 $168,900 (17.8%) $234,502 (12.2%) 0.00 276
    2020-09-01 $143,150 (-0.8%) $229,320 (8.4%) 0.00 264
    2020-10-01 $138,450 (-2.4%) $235,427 (11.7%) 0.00 246
    2020-11-01 $132,400 (0.3%) $230,408 (11.6%) 0.00 219
    2020-12-01 $127,075 (-6.2%) $229,241 (7.9%) 0.00 205
    2021-01-01 $135,000 (-12.9%) $239,274 (4.4%) 0.00 181
    2021-02-01 $121,500 (-22.9%) $239,160 (4.5%) 0.00 158
    2021-03-01 $125,950 (-18.1%) $243,992 (8.3%) 0.00 135
    2021-04-01 $137,500 (-13.1%) $239,839 (4.7%) 0.00 129
    2021-05-01 $127,000 (-23.0%) $226,245 (-1.6%) 0.00 126
    2021-06-01 $127,200 (-25.0%) $221,699 (-2.2%) 0.00 142
    2021-07-01 $137,000 (-15.7%) $213,951 (-5.1%) 0.00 161
    2021-08-01 $139,900 (-17.2%) $211,305 (-9.9%) 0.00 157
    2021-09-01 $131,450 (-8.2%) $206,635 (-9.9%) 0.00 158
    2021-10-01 $136,500 (-1.4%) $208,496 (-11.4%) 0.00 157
    2021-11-01 $128,000 (-3.3%) $214,882 (-6.7%) 0.00 146
    2021-12-01 $121,500 (-4.4%) $213,552 (-6.8%) 0.00 136
    2022-01-01 $115,000 (-14.8%) $215,998 (-9.7%) 0.00 119
    2022-02-01 $125,000 (2.9%) $202,644 (-15.3%) 0.00 96
    2022-03-01 $121,225 (-3.8%) $196,827 (-19.3%) 0.00 100
    2022-04-01 $124,900 (-9.2%) $220,417 (-8.1%) 0.00 105
    2022-05-01 $122,400 (-3.6%) $219,545 (-3.0%) 0.00 112
    2022-06-01 $129,900 (2.1%) $225,092 (1.5%) 0.00 125
    2022-07-01 $149,000 (8.8%) $207,062 (-3.2%) 0.00 143
    2022-08-01 $133,425 (-4.6%) $204,577 (-3.2%) 0.00 149
    2022-09-01 $124,975 (-4.9%) $190,658 (-7.7%) 0.00 146
    2022-10-01 $131,500 (-3.7%) $188,803 (-9.5%) 0.00 143
    Olean's median listing price for 2022-10-01 was $131,500, a difference of $-5,000 (-3.7%) versus the prior year and $6,525 versus the prior month.

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

    Olean's average listing price for 2022-10-01 was $188,803, a difference of $-19,693 (-9.5%) versus the prior year and $-1,855 versus the prior month.

    For the 2022-10-01 period, Olean had 143 MLS listings, a difference of -3 listings (-2%) versus the prior month and -14 listings (-9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Olean (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,598 sqft
    2018-02-01 0 days 1,589 sqft
    2018-03-01 0 days 1,603 sqft
    2018-04-01 0 days 1,641 sqft
    2018-05-01 0 days 1,617 sqft
    2018-06-01 0 days 1,622 sqft
    2018-07-01 0 days 1,648 sqft
    2018-08-01 0 days 1,622 sqft
    2018-09-01 0 days 1,620 sqft
    2018-10-01 0 days 1,617 sqft
    2018-11-01 0 days 1,619 sqft
    2018-12-01 0 days 1,621 sqft
    2019-01-01 0 days 1,600 sqft
    2019-02-01 0 days 1,598 sqft
    2019-03-01 0 days 1,665 sqft
    2019-04-01 0 days 1,670 sqft
    2019-05-01 0 days 1,673 sqft
    2019-06-01 0 days 1,626 sqft
    2019-07-01 0 days 1,633 sqft
    2019-08-01 0 days 1,660 sqft
    2019-09-01 0 days 1,672 sqft
    2019-10-01 0 days 1,680 sqft
    2019-11-01 0 days 1,680 sqft
    2019-12-01 0 days 1,680 sqft
    2020-01-01 0 days 1,708 sqft
    2020-02-01 0 days 1,714 sqft
    2020-03-01 0 days 1,706 sqft
    2020-04-01 0 days 1,706 sqft
    2020-05-01 0 days 1,677 sqft
    2020-06-01 0 days 1,679 sqft
    2020-07-01 0 days 1,677 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,611 sqft
    2020-10-01 0 days 1,624 sqft
    2020-11-01 0 days 1,607 sqft
    2020-12-01 0 days 1,575 sqft
    2021-01-01 0 days 1,624 sqft
    2021-02-01 0 days 1,548 sqft
    2021-03-01 0 days 1,546 sqft
    2021-04-01 0 days 1,548 sqft
    2021-05-01 0 days 1,483 sqft
    2021-06-01 0 days 1,523 sqft
    2021-07-01 0 days 1,584 sqft
    2021-08-01 0 days 1,653 sqft
    2021-09-01 0 days 1,692 sqft
    2021-10-01 0 days 1,688 sqft
    2021-11-01 0 days 1,551 sqft
    2021-12-01 0 days 1,544 sqft
    2022-01-01 0 days 1,470 sqft
    2022-02-01 0 days 1,373 sqft
    2022-03-01 0 days 1,466 sqft
    2022-04-01 0 days 1,454 sqft
    2022-05-01 0 days 1,450 sqft
    2022-06-01 0 days 1,527 sqft
    2022-07-01 0 days 1,572 sqft
    2022-08-01 0 days 1,617 sqft
    2022-09-01 0 days 1,566 sqft
    2022-10-01 0 days 1,536 sqft
    Olean's median listing age (time on market) for 2022-10-01 was 0 days.

    Olean's median square footage for active listings during the 2022-10-01 period was 1,536 sqft. One year prior, the average listing was 1,688 sqft.

    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.