Ontario Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ontario averaged
6.8%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.63% and
one month ago for the week of 2024-10-03, the
average rate was 5.83%.
Ontario's average rate one year ago was 7.57%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.69%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Ontario 30 Year Fixed Rate | 2024-11-07 | 6.8% |
| Ontario 30 Year Fixed Rate Refi | 2024-11-07 | 6.69% |
| Ontario 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Ontario 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Ontario 30 Year FHA | 2024-11-07 | 6.17% |
| Ontario 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Ontario 30 Year USDA | 2024-11-07 | 6.68% |
| Ontario 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Ontario 30 Year VA | 2024-11-07 | 6.44% |
| Ontario 30 Year VA Refi | 2024-11-07 | 6.44% |
Ontario 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 Ontario, OR-ID 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.).
Ontario Average Closing Costs & Other Stats
Ontario, OR-ID's 69 lenders originated 1,001
loans during 2023. The total origination value was $216,055,000, with an average loan value of
$215,839.
Ontario's average closing costs are $6,426.
The top Ontario lender as defined by loan originations is QUICKEN LOANS, LLC, with
28 loans originated. Their average total fees are
$8,176, which is $424
lower than the next largest lender,
FIRST COLONY MORTGAGE CORPORATION.
The lowest fee Ontario lenders (with over 10 loans originated) are
ROGUE ($4,674), Zions Bank ($5,147), U.S. Bank ($6,211), IDAHO CENTRAL ($7,844) and QUICKEN LOANS, LLC ($8,176).
The lowest rate Ontario lenders (with over 10 loans originated) are
U.S. Bank (6.03%), Zions Bank (6.24%), FIRST COLONY MORTGAGE CORPORATION (6.45%), UNITED WHOLESALE MORTGAGE, LLC (6.51%) and QUICKEN LOANS, LLC (6.64%).
Ontario, OR-ID 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 |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $24,855,000 | $16,060,000 | -35.4% | 7.4% |
| ACADEMY MORTGAGE CORPORATION | $28,570,000 | $16,025,000 | -43.9% | 7.4% |
| IDAHO CENTRAL | $22,020,000 | $15,555,000 | -29.4% | 7.2% |
| FIRST COLONY MORTGAGE CORPORATION | $26,345,000 | $15,540,000 | -41.0% | 7.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $9,340,000 | $11,890,000 | 27.3% | 5.5% |
| ROGUE | $13,820,000 | $11,225,000 | -18.8% | 5.2% |
| Zions Bank | $5,470,000 | $7,900,000 | 44.4% | 3.7% |
| GUILD MORTGAGE COMPANY | $8,260,000 | $6,860,000 | -16.9% | 3.2% |
| U.S. Bank | $11,585,000 | $6,120,000 | -47.2% | 2.8% |
| LOANDEPOT.COM, LLC | $10,040,000 | $5,045,000 | -49.8% | 2.3% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $5,645,000 | $4,985,000 | -11.7% | 2.3% |
| MOVEMENT MORTGAGE, LLC | $7,250,000 | $4,835,000 | -33.3% | 2.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $11,255,000 | $4,430,000 | -60.6% | 2.1% |
| D. L. Evans Bank | $6,425,000 | $4,380,000 | -31.8% | 2.0% |
| EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $5,735,000 | $3,640,000 | -36.5% | 1.7% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $2,005,000 | $3,000,000 | 49.6% | 1.4% |
| WALKER & DUNLOP, LLC | $2,735,000 | n/a | 1.3% | |
| S1L, Inc. | $3,315,000 | $2,695,000 | -18.7% | 1.2% |
| Mortgage Research Center, LLC | $5,810,000 | $2,630,000 | -54.7% | 1.2% |
| CMG MORTGAGE, INC. | $2,810,000 | $2,360,000 | -16.0% | 1.1% |
| Bank Five Nine | $2,345,000 | n/a | 1.1% | |
| MOUNTAIN AMERICA | $2,435,000 | $2,045,000 | -16.0% | 0.9% |
| Umpqua Bank | $6,635,000 | $1,965,000 | -70.4% | 0.9% |
| CLEARPATH LENDING | $195,000 | $1,890,000 | 869.2% | 0.9% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $5,480,000 | $1,795,000 | -67.2% | 0.8% |
| Barrington Bank & Trust Company, N.A. | $395,000 | $1,680,000 | 325.3% | 0.8% |
| Wells Fargo Bank | $1,035,000 | $1,610,000 | 55.6% | 0.7% |
| Charles Schwab Bank, SSB | $1,605,000 | n/a | 0.7% | |
| CHURCHILL MORTGAGE CORPORATION | $565,000 | $1,455,000 | 157.5% | 0.7% |
| Northwest Farm Credit Services, FLCA | $780,000 | $1,440,000 | 84.6% | 0.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,950,000 | $1,390,000 | -28.7% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $5,855,000 | $1,390,000 | -76.3% | 0.6% |
| CASTLE & COOKE MORTGAGE, LLC | $1,385,000 | n/a | 0.6% | |
| NEWREZ LLC | $1,000,000 | $1,360,000 | 36.0% | 0.6% |
| The Federal Savings Bank | $1,090,000 | $1,350,000 | 23.9% | 0.6% |
| CARDINAL FINANCIAL | $915,000 | $1,335,000 | 45.9% | 0.6% |
| Flagstar Bank, FSB | $5,360,000 | $1,320,000 | -75.4% | 0.6% |
| AMERISAVE MORTGAGE CORPORATION | $3,890,000 | $1,300,000 | -66.6% | 0.6% |
| AXIA FINANCIAL, LLC | $1,125,000 | $1,285,000 | 14.2% | 0.6% |
| CALCON MUTUAL MORTGAGE LLC | $255,000 | $1,245,000 | 388.2% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $4,795,000 | $1,130,000 | -76.4% | 0.5% |
| 1st Security Bank of Washington | $1,110,000 | n/a | 0.5% | |
| JPMorgan Chase Bank | $1,050,000 | $990,000 | -5.7% | 0.5% |
| Washington Federal Bank | $7,325,000 | $935,000 | -87.2% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,110,000 | $910,000 | -18.0% | 0.4% |
| BAY EQUITY LLC | $425,000 | $870,000 | 104.7% | 0.4% |
| First Federal Savings Bank of Twin Falls | $1,220,000 | $870,000 | -28.7% | 0.4% |
| SUMMIT MORTGAGE CORPORATION | $660,000 | $870,000 | 31.8% | 0.4% |
| Waterstone Mortgage Corporation | $1,280,000 | $785,000 | -38.7% | 0.4% |
| GUARANTEED RATE, INC. | $1,110,000 | $770,000 | -30.6% | 0.4% |
| Sierra Pacific Mortgage Company, Inc. | $255,000 | $760,000 | 198.0% | 0.4% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $2,415,000 | $700,000 | -71.0% | 0.3% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,940,000 | $665,000 | -65.7% | 0.3% |
| Gateway First Bank | $3,345,000 | $640,000 | -80.9% | 0.3% |
| Washington Trust Bank | $155,000 | $605,000 | 290.3% | 0.3% |
| Bank of Idaho | $600,000 | n/a | 0.3% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $185,000 | $590,000 | 218.9% | 0.3% |
| VERITAS FUNDING, LLC | $670,000 | $590,000 | -11.9% | 0.3% |
| Sunflower Bank | $585,000 | n/a | 0.3% | |
| SUMMIT FUNDING, INC. | $1,280,000 | $570,000 | -55.5% | 0.3% |
| The Loan Store, Inc. | $570,000 | n/a | 0.3% | |
| LOANPAL, LLC | $355,000 | $565,000 | 59.2% | 0.3% |
| First Interstate Bank | $2,880,000 | $560,000 | -80.6% | 0.3% |
| KeyBank | $2,380,000 | $560,000 | -76.5% | 0.3% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,835,000 | $540,000 | -70.6% | 0.2% |
| NEW DAY FINANCIAL, LLC | $510,000 | n/a | 0.2% | |
| Unitus Community Credit Union | $505,000 | n/a | 0.2% | |
| Potlatch No. 1 Financial Credit Union | $615,000 | $500,000 | -18.7% | 0.2% |
| UNION HOME MORTGAGE CORP. | $500,000 | n/a | 0.2% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $475,000 | n/a | 0.2% | |
| Bank of America | $150,000 | $470,000 | 213.3% | 0.2% |
| BROKER SOLUTIONS, INC. | $2,440,000 | $465,000 | -80.9% | 0.2% |
| Banner Bank | $760,000 | $460,000 | -39.5% | 0.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,560,000 | $455,000 | -70.8% | 0.2% |
| Willamette Valley Bank | $2,785,000 | $450,000 | -83.8% | 0.2% |
| CAPITAL EDUCATORS FEDERAL CREDIT UNION | $2,120,000 | $415,000 | -80.4% | 0.2% |
| OCMBC, INC. | $220,000 | $395,000 | 79.5% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $385,000 | n/a | 0.2% | |
| SIRVA MORTGAGE, INC. | $105,000 | $385,000 | 266.7% | 0.2% |
| Figure Lending LLC | $395,000 | $355,000 | -10.1% | 0.2% |
| FINANCE OF AMERICA REVERSE LLC | $885,000 | $355,000 | -59.9% | 0.2% |
| INTERCAP LENDING INC. | $365,000 | $355,000 | -2.7% | 0.2% |
| SAMMAMISH MORTGAGE COMPANY | $325,000 | n/a | 0.2% | |
| Northpointe Bank | $295,000 | $315,000 | 6.8% | 0.1% |
| WESTMARK Credit Union | $555,000 | $310,000 | -44.1% | 0.1% |
| Ally Bank | $635,000 | $305,000 | -52.0% | 0.1% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $305,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $1,065,000 | $305,000 | -71.4% | 0.1% |
| AMCAP MORTGAGE, LTD. | $195,000 | $295,000 | 51.3% | 0.1% |
| JMJ FINANCIAL GROUP | $295,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $1,655,000 | $285,000 | -82.8% | 0.1% |
| ZILLOW HOME LOANS, LLC | $890,000 | $285,000 | -68.0% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $790,000 | $275,000 | -65.2% | 0.1% |
| PIONEER | $1,560,000 | $270,000 | -82.7% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $420,000 | $265,000 | -36.9% | 0.1% |
| First Savings Bank | $255,000 | n/a | 0.1% | |
| SUN WEST MORTGAGE COMPANY, INC. | $305,000 | $255,000 | -16.4% | 0.1% |
| AMERICAN FINANCING CORPORATION | $1,230,000 | $245,000 | -80.1% | 0.1% |
| Commerce Home Mortgage, Inc. | $225,000 | $245,000 | 8.9% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $1,020,000 | $240,000 | -76.5% | 0.1% |
| Magnolia Bank | $235,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $205,000 | $225,000 | 9.8% | 0.1% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $2,465,000 | $225,000 | -90.9% | 0.1% |
| Discover Bank | $220,000 | $220,000 | 0.0% | 0.1% |
| HomeStreet Bank | $170,000 | $215,000 | 26.5% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $750,000 | $215,000 | -71.3% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $145,000 | $215,000 | 48.3% | 0.1% |
| Loan Simple, Inc. | $435,000 | $210,000 | -51.7% | 0.1% |
| BMO Harris Bank | $205,000 | n/a | 0.1% | |
| Franklin Loan Corporation | $205,000 | n/a | 0.1% | |
| PNC Bank | $550,000 | $205,000 | -62.7% | 0.1% |
| SECURITYNATIONAL MORTGAGE COMPANY | $205,000 | n/a | 0.1% | |
| PENTAGON FEDERAL CREDIT UNION | $300,000 | $190,000 | -36.7% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $245,000 | $180,000 | -26.5% | 0.1% |
| AMWEST FUNDING CORP. | $175,000 | n/a | 0.1% | |
| Arvest Bank | $175,000 | n/a | 0.1% | |
| CORNERSTONE HOME LENDING, INC. | $175,000 | n/a | 0.1% | |
| 21ST MORTGAGE CORPORATION | $35,000 | $165,000 | 371.4% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $1,475,000 | $165,000 | -88.8% | 0.1% |
| ALLIANT CREDIT UNION | $155,000 | n/a | 0.1% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $155,000 | n/a | 0.1% | |
| LIMA ONE CAPITAL, LLC | $145,000 | n/a | 0.1% | |
| OnPoint Community Credit Union | $225,000 | $145,000 | -35.6% | 0.1% |
| DIRECT MORTGAGE, CORP. | $115,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $145,000 | $115,000 | -20.7% | 0.1% |
| Coastal Community Bank | $110,000 | n/a | 0.1% | |
| Boeing Employees Credit Union | $105,000 | n/a | 0.0% | |
| CHERRY CREEK MORTGAGE, LLC | $95,000 | n/a | 0.0% | |
| Citizens Bank | $95,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $65,000 | $95,000 | 46.2% | 0.0% |
| Community First Bank | $85,000 | n/a | 0.0% | |
| Paramount Residential Mortgage Group, Inc. | $1,090,000 | $85,000 | -92.2% | 0.0% |
| PHH Mortgage Corporation | $560,000 | $85,000 | -84.8% | 0.0% |
| CHEVRON | $75,000 | n/a | 0.0% | |
| HORIZON | $180,000 | $50,000 | -72.2% | 0.0% |
| OREGON COMMUNITY | $45,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $925,000 | $25,000 | -97.3% | 0.0% |
Ontario's top lender by overall market share is QUICKEN LOANS, LLC, with 7.4% market share. In second place, with 7.4%, is ACADEMY MORTGAGE CORPORATION, having originated $16,025,000 in loans. In third place, with 7.2%, is IDAHO CENTRAL, having originated $15,555,000 in loans. In fourth place, with 7.2%, is FIRST COLONY MORTGAGE CORPORATION, having originated $15,540,000 in loans. In fifth place, with 5.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $11,890,000 in loans.
Ontario, OR-ID Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 522 | $139,650,000 | $267,529 |
| Cash Out Refi | 175 | $38,195,000 | $218,257 |
| Home Improvement | 133 | $12,425,000 | $93,421 |
| Other | 91 | $8,345,000 | $91,703 |
| Refi | 80 | $17,440,000 | $218,000 |
Ontario's most frequently cited loan purpose was Home Purchase, with 522 originations. The 2nd most popular reason was Cash Out Refi, with 175 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 334 | $87,740,000 | $262,695 |
| Over 8% | 274 | $26,600,000 | $97,080 |
| 7-8% | 203 | $47,655,000 | $234,754 |
| 5-6% | 177 | $50,395,000 | $284,718 |
| 4-5% | 8 | $2,330,000 | $291,250 |
| <2.5% | 2 | $560,000 | $280,000 |
| 3-4% | 1 | $415,000 | $415,000 |
| 2.5-3% | 1 | $275,000 | $275,000 |
During 2023, Ontario's most frequently originated rate bucket was 6-7%, with 334 originations.
Loan Sizing (Ontario, OR-ID MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 403 | $113,465,000 | $281,551 |
| $100,000 or less | 285 | $12,825,000 | $45,000 |
| $100k-200k | 216 | $32,190,000 | $149,028 |
| $400k-600k | 69 | $32,405,000 | $469,638 |
| $600k-1000k | 24 | $17,380,000 | $724,167 |
| $Over $1MM | 4 | $7,790,000 | $1,947,500 |
Ontario's loan sizing saw the bucket of loans from $200k-400k with 403 originations, totaling $113,465,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 344 | $105,730,000 | $307,355 |
| Under 20% | 228 | $9,270,000 | $40,658 |
| 60-80% | 183 | $53,455,000 | $292,104 |
| 20-40% | 134 | $16,530,000 | $123,358 |
| 40-60% | 100 | $27,320,000 | $273,200 |
| Over 100% | 10 | $3,520,000 | $352,000 |
Ontario's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 344 originations, totaling $105,730,000 in origination value.