Picayune Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Picayune averaged 6.94% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

The average rate for the prior week (2023-09-07) was 7.08% and one month ago for the week of 2023-08-10, the average rate was 7.02%.

Picayune's average rate one year ago was 5.55%.

For refis of the same type during the week of 2023-09-14, the average rate was 7.68%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-14 7.18%
Picayune 30 Year Fixed Rate 2023-09-14 6.94%
Picayune 30 Year Fixed Rate Refi 2023-09-14 7.68%
Picayune 15 Year Fixed Rate 2023-09-14 6.31%
Picayune 15 Year Fixed Rate Refi 2023-09-14 7.11%
Picayune 30 Year FHA 2023-09-14 6.66%
Picayune 30 Year FHA Refi 2023-09-14 7.09%
Picayune 30 Year USDA 2023-09-14 6.57%
Picayune 30 Year USDA Refi 2023-09-14 6.78%
Picayune 30 Year VA 2023-09-14 6.42%
Picayune 30 Year VA Refi 2023-09-14 6.81%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Picayune, MS.

Picayune 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 Picayune, MS 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 34 5.06% $6,296
Regions Bank 25 5.24% $4,750
PLANET HOME LENDING, LLC 23 5.17% $5,957
GMFS LLC 21 4.73% $4,402
Hancock Whitney Bank 15 5.36% $4,880
PRIMELENDING, A PLAINSCAPITAL COMPANY 15 5.74% $5,518
LOANDEPOT.COM, LLC 15 4.84% $5,367
KEESLER 15 4.01% $3,427
BankPlus 14 5.04% $3,437
EUSTIS AND AMERICAN MORTGAGE COMPANY 10 5.06% $4,808
UNION HOME MORTGAGE CORP. 7 5.21% $4,629
NAVY FEDERAL CREDIT UNION 7 5.14% $3,597
Gulf Coast Bank and Trust Company 6 5.50% $5,870
DRAPER AND KRAMER MORTGAGE CORP. 6 5.31% $6,790
Citizens Bank 5 3.48% $4,986
Flagstar Bank, FSB 5 5.40% $6,606
JPMorgan Chase Bank 5 5.38% $3,214
DELMAR FINANCIAL COMPANY 4 4.78% $3,493
CALIBER HOME LOANS, INC. 4 4.02% $4,482
Wells Fargo Bank 4 4.69% $3,531
Trustmark National Bank 3 5.46% $5,242
Bank of England 3 5.50% $3,771
STANDARD MORTGAGE CORPORATION 3 4.42% $3,247
UNITED WHOLESALE MORTGAGE, LLC 3 4.71% $5,751
CMG MORTGAGE, INC. 3 4.62% $4,123
Community Bank of Mississippi 3 4.46% $3,475
CROSSCOUNTRY MORTGAGE, LLC 3 4.79% $4,627
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.00% $3,978
Mr. Cooper ( Nationstar Mortgage ) 3 4.92% $6,200
Wyndham Capital Mortgage, Inc. 2 3.19% $3,668
AMERISAVE MORTGAGE CORPORATION 2 4.38% $4,555
CARDINAL FINANCIAL 2 5.31% $3,913
EVERETT FINANCIAL, INC. 2 4.00% $1,828
FIDELITY BANK 2 6.13% $5,036
GSF Mortgage Corporation 2 4.12% $5,598
HOMESIDE FINANCIAL, LLC 2 4.68% $6,397
MOVEMENT MORTGAGE, LLC 2 5.40% $4,259
NBKC BANK 2 4.38% $2,378
NEWREZ LLC 2 3.69% $3,614
USAA Federal Savings Bank 2 5.38% $5,129
VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.75% $6,254
Gulf Coast Community Federal Credit Union 1 6.38% $4,043
Lakeview Community Capital, LLC 1 5.50% $2,832
LAKEVIEW LOAN SERVICING, LLC 1 5.63% $4,744
GUARANTEED RATE, INC. 1 5.38% $4,095
Magnolia Bank 1 3.99% $8,595
Mortgage Research Center, LLC 1 5.38% $1,390
AMERICAN FINANCIAL RESOURCES, INC. 1 2.99% $4,756
First Internet Bank of Indiana 1 3.00% $3,605
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $6,785
First Horizon Bank 1 6.13% $3,095
U.S. Bank 1 6.13% $5,969
Ally Bank 1 3.13% $4,193
North American Savings Bank, F.S.B. 1 4.88% $8,832
Pelican State Credit Union 1 6.20% $2,724
PHH Mortgage Corporation 1 5.88% $6,145
FBT Mortgage, L.L.C. 1 4.50% $5,848
DIGITAL Federal Credit Union 1 4.25% $2,528
Colonial Savings, F.A. 1 5.75% $4,431
BROKER SOLUTIONS, INC. 1 5.49% $5,700
RELIANCE FIRST CAPITAL, LLC 1 2.88% $6,131
Sierra Pacific Mortgage Company, Inc. 1 5.50% $7,320
BETTER MORTGAGE CORPORATION 1 2.88% $3,812
STOCKTON MORTGAGE CORPORATION 1 3.25% $4,231
SUMMIT FUNDING, INC. 1 5.50% $5,751
Synovus Bank 1 5.88% $7,286
T2 FINANCIAL LLC 1 5.13% $10,478
Truist 1 7.13% $6,679
BancorpSouth 1 5.38% $3,195
AmeriHome Mortgage Company, LLC 1 5.99% $3,862
HOME POINT FINANCIAL CORPORATION 1 3.99% $3,678
AMERICAN FINANCING CORPORATION 1 4.00% $3,530
Hometown Lenders, Inc. 1 4.25% $6,983
HOPE FEDERAL CREDIT UNION 1 6.25% $5,212
INLANTA MORTGAGE, INC. 1 4.50% $4,828
Home Bank 1 7.38% $3,489

Picayune Average Closing Costs & Other Stats

Picayune, MS's 76 lenders originated 1,204 loans during 2022. The total origination value was $218,120,000, with an average loan value of $181,163.

Picayune's average closing costs are $5,112.

The top Picayune lender as defined by loan originations is QUICKEN LOANS, LLC, with 34 loans originated. Their average total fees are $6,296, which is $1,546 higher than the next largest lender, Regions Bank.

The lowest fee Picayune lenders (with over 10 loans originated) are KEESLER ($3,427), BankPlus ($3,437), GMFS LLC ($4,402), Regions Bank ($4,750) and EUSTIS AND AMERICAN MORTGAGE COMPANY ($4,808).

The lowest rate Picayune lenders (with over 10 loans originated) are KEESLER (4.01%), GMFS LLC (4.73%), LOANDEPOT.COM, LLC (4.84%), BankPlus (5.04%) and QUICKEN LOANS, LLC (5.06%).

Picayune, MS 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
QUICKEN LOANS, LLC $33,620,000 $17,005,000 -49.4% 7.8%
PLANET HOME LENDING, LLC $24,850,000 $15,440,000 -37.9% 7.1%
BankPlus $18,320,000 $13,495,000 -26.3% 6.2%
GMFS LLC $18,165,000 $11,810,000 -35.0% 5.4%
First National Bank of Picayune $8,095,000 $9,720,000 20.1% 4.5%
EUSTIS AND AMERICAN MORTGAGE COMPANY $10,520,000 $8,950,000 -14.9% 4.1%
Regions Bank $5,840,000 $8,590,000 47.1% 3.9%
KEESLER $8,035,000 $8,230,000 2.4% 3.8%
Mortgage Research Center, LLC $5,920,000 $7,040,000 18.9% 3.2%
Hancock Whitney Bank $9,630,000 $6,775,000 -29.6% 3.1%
BancorpSouth Bank $270,000 $5,725,000 2,020.4% 2.6%
PRIMELENDING, A PLAINSCAPITAL COMPANY $2,635,000 $4,835,000 83.5% 2.2%
LOANDEPOT.COM, LLC $7,940,000 $4,525,000 -43.0% 2.1%
DRAPER AND KRAMER MORTGAGE CORP. $735,000 $4,115,000 459.9% 1.9%
NAVY FEDERAL CREDIT UNION $2,630,000 $3,695,000 40.5% 1.7%
UNION HOME MORTGAGE CORP. $4,805,000 $3,475,000 -27.7% 1.6%
21ST MORTGAGE CORPORATION $2,705,000 $3,155,000 16.6% 1.4%
UNITED WHOLESALE MORTGAGE, LLC $1,500,000 $3,060,000 104.0% 1.4%
CMG MORTGAGE, INC. $6,805,000 $2,870,000 -57.8% 1.3%
The First, A National Banking Association $1,535,000 $2,780,000 81.1% 1.3%
Trustmark National Bank $1,100,000 $2,655,000 141.4% 1.2%
Mr. Cooper ( Nationstar Mortgage ) $2,405,000 $2,570,000 6.9% 1.2%
CROSSCOUNTRY MORTGAGE, LLC $2,285,000 $2,500,000 9.4% 1.1%
CALIBER HOME LOANS, INC. $3,445,000 $2,300,000 -33.2% 1.1%
FREEDOM MORTGAGE CORPORATION $10,815,000 $2,285,000 -78.9% 1.0%
DELMAR FINANCIAL COMPANY $4,150,000 $2,125,000 -48.8% 1.0%
MOVEMENT MORTGAGE, LLC $1,215,000 $2,065,000 70.0% 0.9%
Flagstar Bank, FSB $1,885,000 $1,915,000 1.6% 0.9%
PENNYMAC LOAN SERVICES, LLC $4,080,000 $1,885,000 -53.8% 0.9%
Citizens Bank $260,000 $1,855,000 613.5% 0.9%
Gulf Coast Bank and Trust Company $3,655,000 $1,750,000 -52.1% 0.8%
VANDERBILT MORTGAGE AND FINANCE, INC. $1,675,000 $1,460,000 -12.8% 0.7%
Wells Fargo Bank $3,635,000 $1,430,000 -60.7% 0.7%
Citizens Savings Bank $765,000 $1,390,000 81.7% 0.6%
Community Bank of Mississippi $625,000 $1,380,000 120.8% 0.6%
USAA Federal Savings Bank $2,555,000 $1,325,000 -48.1% 0.6%
JPMorgan Chase Bank $2,960,000 $1,320,000 -55.4% 0.6%
FIDELITY BANK $2,100,000 $1,270,000 -39.5% 0.6%
AMERISAVE MORTGAGE CORPORATION $2,750,000 $1,265,000 -54.0% 0.6%
North American Savings Bank, F.S.B. $205,000 $1,070,000 422.0% 0.5%
NEW DAY FINANCIAL, LLC $590,000 $1,020,000 72.9% 0.5%
NEWREZ LLC $2,180,000 $1,020,000 -53.2% 0.5%
BROKER SOLUTIONS, INC. $1,075,000 $1,005,000 -6.5% 0.5%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,160,000 $990,000 -68.7% 0.5%
CSL Financial, LLC $55,000 $980,000 1,681.8% 0.4%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $985,000 $955,000 -3.0% 0.4%
Southern Bancorp Bank $495,000 $945,000 90.9% 0.4%
LAKEVIEW LOAN SERVICING, LLC $1,470,000 $905,000 -38.4% 0.4%
Bank of England $1,610,000 $885,000 -45.0% 0.4%
Magnolia Bank $525,000 $885,000 68.6% 0.4%
TRIAD FINANCIAL SERVICES, INC. $780,000 $875,000 12.2% 0.4%
First Federal Savings and Loan Association $810,000 n/a 0.4%
HOMESIDE FINANCIAL, LLC $300,000 $780,000 160.0% 0.4%
First South Farm Credit, ACA $770,000 n/a 0.4%
NBKC BANK $715,000 n/a 0.3%
BETTER MORTGAGE CORPORATION $300,000 $705,000 135.0% 0.3%
FBT Mortgage, L.L.C. $415,000 $700,000 68.7% 0.3%
MORTGAGE SOLUTIONS OF COLORADO, LLC $590,000 $695,000 17.8% 0.3%
SOUTHWEST STAGE FUNDING, LLC $605,000 $695,000 14.9% 0.3%
STANDARD MORTGAGE CORPORATION $1,140,000 $690,000 -39.5% 0.3%
HOME POINT FINANCIAL CORPORATION $1,650,000 $675,000 -59.1% 0.3%
SUMMIT FUNDING, INC. $125,000 $655,000 424.0% 0.3%
Wyndham Capital Mortgage, Inc. $650,000 n/a 0.3%
INLANTA MORTGAGE, INC. $1,255,000 $640,000 -49.0% 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $630,000 $610,000 -3.2% 0.3%
Nations Lending Corporation $310,000 $530,000 71.0% 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $520,000 n/a 0.2%
Citizens Bank $260,000 $520,000 100.0% 0.2%
AmeriHome Mortgage Company, LLC $470,000 n/a 0.2%
GSF Mortgage Corporation $365,000 $460,000 26.0% 0.2%
XPLORE FEDERAL CREDIT UNION $460,000 n/a 0.2%
EFCU FINANCIAL $425,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $595,000 $390,000 -34.5% 0.2%
CIS Financial Services, Inc. $390,000 n/a 0.2%
AMERICAN FINANCING CORPORATION $380,000 n/a 0.2%
First Internet Bank of Indiana $365,000 n/a 0.2%
U.S. Bank $415,000 $360,000 -13.3% 0.2%
PREMIA MORTGAGE, LLC $475,000 $345,000 -27.4% 0.2%
T2 FINANCIAL LLC $325,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $1,545,000 $320,000 -79.3% 0.1%
GUILD MORTGAGE COMPANY $315,000 n/a 0.1%
Tyndall Federal Credit Union $315,000 n/a 0.1%
CHEVRON $135,000 $305,000 125.9% 0.1%
Red River Bank $250,000 $305,000 22.0% 0.1%
Wilson & Muir Bank & Trust Company $305,000 n/a 0.1%
DIGITAL Federal Credit Union $300,000 n/a 0.1%
Truist $165,000 $300,000 81.8% 0.1%
EVERETT FINANCIAL, INC. $295,000 n/a 0.1%
Home Bank $345,000 $285,000 -17.4% 0.1%
Synovus Bank $285,000 n/a 0.1%
RESOURCE FINANCIAL SERVICES, INC. $255,000 n/a 0.1%
INTERLINC MORTGAGE SERVICES, LLC $295,000 $245,000 -16.9% 0.1%
PACIFIC RESIDENTIAL MORTGAGE, LLC $240,000 n/a 0.1%
Resource Bank $75,000 $240,000 220.0% 0.1%
STOCKTON MORTGAGE CORPORATION $240,000 n/a 0.1%
Heritage Bank of St Tammany $400,000 $235,000 -41.3% 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $95,000 $210,000 121.1% 0.1%
Pelican State Credit Union $210,000 n/a 0.1%
MORTGAGE FINANCIAL SERVICES, LLC $155,000 $205,000 32.3% 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $760,000 $195,000 -74.3% 0.1%
Bank of America $880,000 $195,000 -77.8% 0.1%
FirstBank $190,000 $195,000 2.6% 0.1%
Goldwater Bank, N.A. $2,665,000 $195,000 -92.7% 0.1%
SWBC MORTGAGE CORPORATION $195,000 n/a 0.1%
BAYSHORE MORTGAGE FUNDING, LLC $185,000 n/a 0.1%
FIRST COMMUNITY MORTGAGE, INC. $235,000 $185,000 -21.3% 0.1%
GUARANTEED RATE, INC. $320,000 $185,000 -42.2% 0.1%
HOPE FEDERAL CREDIT UNION $175,000 $185,000 5.7% 0.1%
PENTAGON FEDERAL CREDIT UNION $240,000 $185,000 -22.9% 0.1%
Hometown Lenders, Inc. $235,000 $180,000 -23.4% 0.1%
FLAT BRANCH MORTGAGE, INC. $175,000 n/a 0.1%
Mid-Continent Funding, Inc. $175,000 n/a 0.1%
Discover Bank $160,000 $170,000 6.3% 0.1%
Colonial Savings, F.A. $165,000 n/a 0.1%
First Horizon Bank $1,585,000 $165,000 -89.6% 0.1%
PERFORMANCE MORTGAGE LLC $390,000 $165,000 -57.7% 0.1%
Sierra Pacific Mortgage Company, Inc. $165,000 n/a 0.1%
Wolfe Financial, Inc $155,000 n/a 0.1%
APCI Federal Credit Union $145,000 n/a 0.1%
FINANCE OF AMERICA MORTGAGE LLC $145,000 n/a 0.1%
Ally Bank $490,000 $135,000 -72.4% 0.1%
CONTOUR MORTGAGE CORPORATION $135,000 n/a 0.1%
PHH Mortgage Corporation $135,000 n/a 0.1%
Gulf Coast Community Federal Credit Union $130,000 n/a 0.1%
United Community Bank $130,000 n/a 0.1%
Merchants & Marine Bank $125,000 n/a 0.1%
RELIANCE FIRST CAPITAL, LLC $165,000 $115,000 -30.3% 0.1%
The Citizens Bank of Philadelphia, Mississippi $105,000 n/a 0.0%
South State Bank $95,000 n/a 0.0%
COUNTRYPLACE MORTGAGE, LTD. $150,000 $85,000 -43.3% 0.0%
Lakeview Community Capital, LLC $75,000 n/a 0.0%
LONGBRIDGE FINANCIAL, LLC $75,000 n/a 0.0%
AMERICAN ADVISORS GROUP $235,000 $65,000 -72.3% 0.0%
SUNBELT Federal Credit Union $25,000 n/a 0.0%
THE NEW ORLEANS FIREMEN'S FEDERAL CREDIT UNION $260,000 $25,000 -90.4% 0.0%
Figure Lending LLC $15,000 n/a 0.0%

Picayune's top lender by overall market share is QUICKEN LOANS, LLC, with 7.8% market share. In second place, with 7.1%, is PLANET HOME LENDING, LLC, having originated $15,440,000 in loans. In third place, with 6.2%, is BankPlus, having originated $13,495,000 in loans. In fourth place, with 5.4%, is GMFS LLC, having originated $11,810,000 in loans. In fifth place, with 4.5%, is First National Bank of Picayune, having originated $9,720,000 in loans.

Picayune, MS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 740 $145,870,000 $197,122
Cash Out Refi 206 $32,550,000 $158,010
Refi 158 $30,710,000 $194,367
Other 53 $4,315,000 $81,415
Home Improvement 47 $4,675,000 $99,468

Picayune's most frequently cited loan purpose was Home Purchase, with 740 originations. The 2nd most popular reason was Cash Out Refi, with 206 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 262 $51,440,000 $196,336
4-5% 229 $46,645,000 $203,690
3-4% 227 $43,215,000 $190,374
6-7% 166 $27,930,000 $168,253
2.5-3% 82 $18,810,000 $229,390
7-8% 56 $7,480,000 $133,571
<2.5% 55 $5,375,000 $97,727
Over 8% 33 $3,695,000 $111,970

During 2022, Picayune's most frequently originated rate bucket was 5-6%, with 262 originations.

Loan Sizing (Picayune, MS MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 504 $76,470,000 $151,726
$200k-400k 409 $106,595,000 $260,623
$100,000 or less 261 $16,185,000 $62,011
$400k-600k 26 $12,310,000 $473,462
$600k-1000k 3 $2,045,000 $681,667
$Over $1MM 1 $4,515,000 $4,515,000

Picayune's loan sizing saw the bucket of loans from $100k-200k with 504 originations, totaling $76,470,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 573 $118,445,000 $206,710
60-80% 248 $50,260,000 $202,661
40-60% 111 $16,405,000 $147,793
20-40% 80 $7,370,000 $92,125
Under 20% 50 $1,600,000 $32,000
Over 100% 35 $8,905,000 $254,429

Picayune's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 573 originations, totaling $118,445,000 in origination value.