OWENSBORO Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Owensboro averaged
6.5%
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
6.53% and
one month ago for the week of 2024-10-03, the
average rate was 6.03%.
Owensboro's average rate one year ago was 7.87%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Owensboro 30 Year Fixed Rate | 2024-11-07 | 6.5% |
| Owensboro 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Owensboro 15 Year Fixed Rate | 2024-11-07 | 6.1% |
| Owensboro 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Owensboro 30 Year FHA | 2024-11-07 | 6.13% |
| Owensboro 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Owensboro 30 Year USDA | 2024-11-07 | 6.68% |
| Owensboro 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Owensboro 30 Year VA | 2024-11-07 | 6.38% |
| Owensboro 30 Year VA Refi | 2024-11-07 | 6.34% |
OWENSBORO 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 OWENSBORO, KY 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.).
OWENSBORO Average Closing Costs & Other Stats
OWENSBORO, KY's 77 lenders originated 2,383
loans during 2023. The total origination value was $363,545,000, with an average loan value of
$152,558.
OWENSBORO's average closing costs are $3,970.
The top OWENSBORO lender as defined by loan originations is EVANSVILLE TEACHERS, with
260 loans originated. Their average total fees are
$3,261, which is $888
higher than the next largest lender,
Independence Bank of Kentucky.
The lowest fee OWENSBORO lenders (with over 10 loans originated) are
Independence Bank of Kentucky ($2,372), SOUTH CENTRAL BANK, INC. ($2,757), German American Bank ($3,130), Old National Bank ($3,155) and EVANSVILLE TEACHERS ($3,261).
The lowest rate OWENSBORO lenders (with over 10 loans originated) are
JPMorgan Chase Bank (6.42%), Independence Bank of Kentucky (6.44%), RUOFF MORTGAGE COMPANY, INC. (6.49%), THRIVE MORTGAGE, LLC (6.49%) and Old National Bank (6.58%).
OWENSBORO, KY 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 |
|---|---|---|---|---|
| EVANSVILLE TEACHERS | $145,740,000 | $107,920,000 | -26.0% | 29.7% |
| Independence Bank of Kentucky | $56,045,000 | $35,060,000 | -37.4% | 9.6% |
| Old National Bank | $26,995,000 | $19,885,000 | -26.3% | 5.5% |
| German American Bank | $21,475,000 | $17,020,000 | -20.7% | 4.7% |
| QUICKEN LOANS, LLC | $17,925,000 | $15,355,000 | -14.3% | 4.2% |
| U.S. Bank | $30,090,000 | $14,925,000 | -50.4% | 4.1% |
| FBC MORTGAGE, LLC | $24,385,000 | $12,060,000 | -50.5% | 3.3% |
| SOUTH CENTRAL BANK, INC. | $14,605,000 | $11,635,000 | -20.3% | 3.2% |
| RUOFF MORTGAGE COMPANY, INC. | $20,940,000 | $10,855,000 | -48.2% | 3.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $14,340,000 | $9,045,000 | -36.9% | 2.5% |
| Mortgage Research Center, LLC | $7,520,000 | $6,610,000 | -12.1% | 1.8% |
| Truist | $7,705,000 | $6,475,000 | -16.0% | 1.8% |
| HOMESIDE FINANCIAL, LLC | $1,530,000 | $4,575,000 | 199.0% | 1.3% |
| Fifth Third Bank | $11,995,000 | $4,275,000 | -64.4% | 1.2% |
| JPMorgan Chase Bank | $5,845,000 | $3,810,000 | -34.8% | 1.0% |
| Farm Credit Mid-America, ACA | $8,850,000 | $3,745,000 | -57.7% | 1.0% |
| Limestone Bank, Inc. | $2,265,000 | $3,490,000 | 54.1% | 1.0% |
| First Federal Savings Bank | $550,000 | $2,860,000 | 420.0% | 0.8% |
| CHURCHILL MORTGAGE CORPORATION | $585,000 | $2,445,000 | 317.9% | 0.7% |
| THRIVE MORTGAGE, LLC | $425,000 | $2,420,000 | 469.4% | 0.7% |
| Owensboro Federal Credit Union | $2,360,000 | n/a | 0.6% | |
| PNC Bank | $4,620,000 | $2,250,000 | -51.3% | 0.6% |
| EVERETT FINANCIAL, INC. | $10,400,000 | $2,095,000 | -79.9% | 0.6% |
| Farmers Bank and Trust Company | $1,165,000 | $2,075,000 | 78.1% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $1,105,000 | $2,020,000 | 82.8% | 0.6% |
| USAA Federal Savings Bank | $2,380,000 | $1,910,000 | -19.7% | 0.5% |
| Bank of England | $2,725,000 | $1,740,000 | -36.1% | 0.5% |
| Heritage Federal Credit Union | $2,705,000 | $1,725,000 | -36.2% | 0.5% |
| Carrington Mortgage Services, LLC | $1,425,000 | $1,570,000 | 10.2% | 0.4% |
| TOP FLITE FINANCIAL, INC. | $3,545,000 | $1,490,000 | -58.0% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $3,010,000 | $1,385,000 | -54.0% | 0.4% |
| LEADERONE FINANCIAL CORPORATION | $1,360,000 | n/a | 0.4% | |
| STOCKTON MORTGAGE CORPORATION | $945,000 | $1,345,000 | 42.3% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $195,000 | $1,285,000 | 559.0% | 0.4% |
| First Financial Bank | $55,000 | $1,265,000 | 2,200.0% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $7,780,000 | $1,265,000 | -83.7% | 0.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,075,000 | $1,225,000 | 14.0% | 0.3% |
| BROKER SOLUTIONS, INC. | $980,000 | $1,160,000 | 18.4% | 0.3% |
| The Sacramento Deposit Bank | $2,500,000 | $1,160,000 | -53.6% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $2,735,000 | $1,125,000 | -58.9% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $2,275,000 | $1,115,000 | -51.0% | 0.3% |
| NEW DAY FINANCIAL, LLC | $315,000 | $1,100,000 | 249.2% | 0.3% |
| MORTGAGE MASTERS OF INDIANA, INC. | $1,295,000 | $1,040,000 | -19.7% | 0.3% |
| Abound Federal Credit Union | $155,000 | $880,000 | 467.7% | 0.2% |
| FIELD & MAIN BANK, INC. | $755,000 | $865,000 | 14.6% | 0.2% |
| Peoples Bank | $855,000 | n/a | 0.2% | |
| Paramount Residential Mortgage Group, Inc. | $245,000 | $810,000 | 230.6% | 0.2% |
| Plains Commerce Bank | $135,000 | $785,000 | 481.5% | 0.2% |
| A&D Mortgage LLC | $775,000 | n/a | 0.2% | |
| TRANSCEND | $135,000 | $725,000 | 437.0% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,175,000 | $715,000 | -67.1% | 0.2% |
| Magnolia Bank | $530,000 | $690,000 | 30.2% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $450,000 | $645,000 | 43.3% | 0.2% |
| CARDINAL FINANCIAL | $1,200,000 | $620,000 | -48.3% | 0.2% |
| Morgantown Bank & Trust Company, Incorporated | $185,000 | $595,000 | 221.6% | 0.2% |
| 21ST MORTGAGE CORPORATION | $1,370,000 | $540,000 | -60.6% | 0.1% |
| LOANDEPOT.COM, LLC | $2,975,000 | $540,000 | -81.8% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $565,000 | $525,000 | -7.1% | 0.1% |
| Discover Bank | $125,000 | $520,000 | 316.0% | 0.1% |
| PREMIA MORTGAGE, LLC | $345,000 | $510,000 | 47.8% | 0.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,380,000 | $485,000 | -79.6% | 0.1% |
| NEWREZ LLC | $275,000 | $485,000 | 76.4% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $185,000 | $485,000 | 162.2% | 0.1% |
| 1ST SIGNATURE LENDING, LLC | $205,000 | $450,000 | 119.5% | 0.1% |
| Bank of Edmonson County | $155,000 | $425,000 | 174.2% | 0.1% |
| BancorpSouth | $405,000 | n/a | 0.1% | |
| The Cecilian Bank | $515,000 | $395,000 | -23.3% | 0.1% |
| DAS Acquisition Company, LLC | $380,000 | n/a | 0.1% | |
| Citizens Bank | $1,855,000 | $375,000 | -79.8% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $370,000 | n/a | 0.1% | |
| FirstBank | $105,000 | $360,000 | 242.9% | 0.1% |
| First Federal Bank | $355,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $65,000 | $350,000 | 438.5% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $330,000 | n/a | 0.1% | |
| Cf Bank | $305,000 | n/a | 0.1% | |
| LOANFLIGHT LENDING, LLC | $305,000 | n/a | 0.1% | |
| DEEPHAVEN MORTGAGE LLC | $295,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $270,000 | $280,000 | 3.7% | 0.1% |
| CMG MORTGAGE, INC. | $225,000 | $275,000 | 22.2% | 0.1% |
| Prosperity Home Mortgage, LLC | $275,000 | n/a | 0.1% | |
| Morgan Stanley Private Bank | $265,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $265,000 | n/a | 0.1% | |
| Whitaker Bank | $55,000 | $265,000 | 381.8% | 0.1% |
| North American Savings Bank, F.S.B. | $615,000 | $255,000 | -58.5% | 0.1% |
| Northwest Federal Credit Union | $235,000 | $245,000 | 4.3% | 0.1% |
| University Bank | $245,000 | n/a | 0.1% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $690,000 | $235,000 | -65.9% | 0.1% |
| AMWEST FUNDING CORP. | $1,025,000 | $235,000 | -77.1% | 0.1% |
| WesBanco | $270,000 | $235,000 | -13.0% | 0.1% |
| Northpointe Bank | $465,000 | $230,000 | -50.5% | 0.1% |
| Republic Bank & Trust Company | $590,000 | $225,000 | -61.9% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $215,000 | n/a | 0.1% | |
| ROSS MORTGAGE CORPORATION | $215,000 | n/a | 0.1% | |
| Franklin Loan Corporation | $205,000 | n/a | 0.1% | |
| NATIONS DIRECT MORTGAGE, LLC | $205,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $4,400,000 | $205,000 | -95.3% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $195,000 | n/a | 0.1% | |
| FIRST MORTGAGE COMPANY, INC. | $195,000 | n/a | 0.1% | |
| First Southern National Bank | $160,000 | $195,000 | 21.9% | 0.1% |
| 1786 | $185,000 | n/a | 0.1% | |
| EQUITY RESOURCES, INC. | $185,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $185,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $330,000 | $185,000 | -43.9% | 0.1% |
| Servion, Inc. | $255,000 | $185,000 | -27.5% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $185,000 | n/a | 0.1% | |
| The Central Trust Bank | $185,000 | n/a | 0.1% | |
| Wells Fargo Bank | $2,025,000 | $185,000 | -90.9% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $360,000 | $165,000 | -54.2% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $155,000 | n/a | 0.0% | |
| MORTGAGE INVESTORS GROUP, INC. | $155,000 | n/a | 0.0% | |
| Union Savings Bank | $155,000 | n/a | 0.0% | |
| Equity Prime Mortgage LLC | $650,000 | $150,000 | -76.9% | 0.0% |
| DIAMOND VALLEY | $145,000 | n/a | 0.0% | |
| GoPrime Mortgage, Inc. | $145,000 | n/a | 0.0% | |
| The First National Bank of Carmi | $145,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $350,000 | $135,000 | -61.4% | 0.0% |
| Park Lane Finance Solutions, LLC | $250,000 | $130,000 | -48.0% | 0.0% |
| Ally Bank | $495,000 | $115,000 | -76.8% | 0.0% |
| BM Real Estate Services, Inc. | $115,000 | n/a | 0.0% | |
| Coastal Community Bank | $115,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $115,000 | n/a | 0.0% | |
| City National Bank of West Virginia | $105,000 | n/a | 0.0% | |
| M&T Bank | $280,000 | $105,000 | -62.5% | 0.0% |
| Peoples Bank | $105,000 | n/a | 0.0% | |
| AMERICAN HERITAGE LENDING, INC. | $95,000 | n/a | 0.0% | |
| FAIR WAY LENDING LLC | $95,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $95,000 | n/a | 0.0% | |
| OPEN MORTGAGE, LLC | $35,000 | $95,000 | 171.4% | 0.0% |
| Regions Bank | $95,000 | n/a | 0.0% | |
| Strong Home Mortgage, LLC | $95,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $315,000 | $85,000 | -73.0% | 0.0% |
| TOTAL MORTGAGE SERVICES, LLC | $85,000 | n/a | 0.0% | |
| TOWER | $85,000 | n/a | 0.0% | |
| U S WIDE FINANCIAL LLC | $85,000 | n/a | 0.0% | |
| Bank of America | $760,000 | $80,000 | -89.5% | 0.0% |
| Central Bank | $935,000 | $65,000 | -93.0% | 0.0% |
| SPRING EQ, LLC | $75,000 | $55,000 | -26.7% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $195,000 | $55,000 | -71.8% | 0.0% |
| Flagstar Bank, FSB | $200,000 | $50,000 | -75.0% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| UNIVERSITY OF KENTUCKY | $140,000 | $45,000 | -67.9% | 0.0% |
| Stock Yards Bank & Trust Company | $235,000 | $35,000 | -85.1% | 0.0% |
OWENSBORO's top lender by overall market share is EVANSVILLE TEACHERS, with 29.7% market share. In second place, with 9.6%, is Independence Bank of Kentucky, having originated $35,060,000 in loans. In third place, with 5.5%, is Old National Bank, having originated $19,885,000 in loans. In fourth place, with 4.7%, is German American Bank, having originated $17,020,000 in loans. In fifth place, with 4.2%, is QUICKEN LOANS, LLC, having originated $15,355,000 in loans.
OWENSBORO, KY Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 42301 | Owensboro, KY MSA | $710 | $710 | $940 | $1,240 | $1,260 |
| 42302 | Owensboro, KY MSA | $710 | $710 | $940 | $1,240 | $1,260 |
| 42303 | Owensboro, KY MSA | $710 | $710 | $940 | $1,240 | $1,260 |
| 42304 | Owensboro, KY MSA | $710 | $710 | $940 | $1,240 | $1,260 |
| 42322 | Owensboro, KY MSA | $620 | $620 | $820 | $1,080 | $1,100 |
| 42327 | Owensboro, KY MSA | $620 | $620 | $820 | $1,080 | $1,100 |
| 42330 | Owensboro, KY MSA | $560 | $580 | $760 | $1,000 | $1,030 |
| 42343 | Owensboro, KY MSA | $560 | $580 | $760 | $1,000 | $1,030 |
| 42348 | Owensboro, KY MSA | $610 | $620 | $810 | $1,070 | $1,090 |
| 42350 | Owensboro, KY MSA | $560 | $580 | $760 | $1,000 | $1,030 |
| 42351 | Owensboro, KY MSA | $620 | $620 | $820 | $1,080 | $1,100 |
| 42352 | Owensboro, KY MSA | $560 | $580 | $760 | $1,000 | $1,030 |
| 42355 | Owensboro, KY MSA | $570 | $580 | $760 | $1,000 | $1,030 |
| 42356 | Owensboro, KY MSA | $710 | $710 | $940 | $1,240 | $1,260 |
| 42364 | Owensboro, KY MSA | $620 | $620 | $820 | $1,080 | $1,100 |
| 42366 | Owensboro, KY MSA | $690 | $690 | $910 | $1,200 | $1,220 |
| 42368 | Owensboro, KY MSA | $590 | $590 | $780 | $1,030 | $1,050 |
| 42371 | Owensboro, KY MSA | $590 | $590 | $770 | $1,020 | $1,040 |
| 42372 | Owensboro, KY MSA | $560 | $580 | $760 | $1,000 | $1,030 |
| 42376 | Owensboro, KY MSA | $690 | $690 | $910 | $1,200 | $1,220 |
| 42378 | Owensboro, KY MSA | $590 | $590 | $780 | $1,030 | $1,050 |
2022 Average & Median Rent Data Statistics
OWENSBORO, KY average 1BR rent: $632, median: $620
OWENSBORO, KY average 2BR rent: $833, median: $820
OWENSBORO, KY average 3BR rent: $1,099, median: $1,080
OWENSBORO, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,318 | $259,090,000 | $196,578 |
| Cash Out Refi | 368 | $34,820,000 | $94,620 |
| Refi | 264 | $35,260,000 | $133,561 |
| Other | 236 | $20,750,000 | $87,924 |
| Home Improvement | 197 | $13,625,000 | $69,162 |
Owensboro's most frequently cited loan purpose was Home Purchase, with 1,318 originations. The 2nd most popular reason was Cash Out Refi, with 368 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 909 | $161,695,000 | $177,882 |
| 7-8% | 549 | $82,645,000 | $150,537 |
| Over 8% | 447 | $33,175,000 | $74,217 |
| 5-6% | 271 | $53,875,000 | $198,801 |
| <2.5% | 49 | $4,525,000 | $92,347 |
| 4-5% | 35 | $10,265,000 | $293,286 |
| 3-4% | 18 | $660,000 | $36,667 |
| 2.5-3% | 1 | $85,000 | $85,000 |
During 2023, Owensboro's most frequently originated rate bucket was 6-7%, with 909 originations.
Loan Sizing (OWENSBORO, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 917 | $48,645,000 | $53,048 |
| $100k-200k | 883 | $129,685,000 | $146,869 |
| $200k-400k | 507 | $135,575,000 | $267,406 |
| $400k-600k | 52 | $24,210,000 | $465,577 |
| $600k-1000k | 18 | $13,590,000 | $755,000 |
| $Over $1MM | 6 | $11,840,000 | $1,973,333 |
OWENSBORO's loan sizing saw the bucket of loans from $100,000 or less with 917 originations, totaling $48,645,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 888 | $184,710,000 | $208,007 |
| 60-80% | 439 | $82,725,000 | $188,440 |
| Under 20% | 377 | $15,655,000 | $41,525 |
| 20-40% | 356 | $30,400,000 | $85,393 |
| 40-60% | 196 | $28,290,000 | $144,337 |
| Over 100% | 21 | $4,865,000 | $231,667 |
OWENSBORO's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 888 originations, totaling $184,710,000 in origination value.