Ponca City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ponca City averaged
6.86%
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
6.59% and
one month ago for the week of 2024-10-03, the
average rate was 6.09%.
Ponca City's average rate one year ago was 7.73%.
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% |
| Ponca City 30 Year Fixed Rate | 2024-11-07 | 6.86% |
| Ponca City 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Ponca City 15 Year Fixed Rate | 2024-11-07 | 6.1% |
| Ponca City 15 Year Fixed Rate Refi | 2024-11-07 | 6% |
| Ponca City 30 Year FHA | 2024-11-07 | 6.34% |
| Ponca City 30 Year FHA Refi | 2024-11-07 | 6.43% |
| Ponca City 30 Year USDA | 2024-11-07 | 6.58% |
| Ponca City 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Ponca City 30 Year VA | 2024-11-07 | 6.34% |
| Ponca City 30 Year VA Refi | 2024-11-07 | 6.14% |
Ponca City 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 Ponca City, OK 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.).
Ponca City Average Closing Costs & Other Stats
Ponca City, OK's 37 lenders originated 640
loans during 2023. The total origination value was $76,520,000, with an average loan value of
$119,563.
Ponca City's average closing costs are $5,061.
The top Ponca City lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
45 loans originated. Their average total fees are
$3,921, which is $168
higher than the next largest lender,
RCB Bank.
The lowest fee Ponca City lenders (with over 10 loans originated) are
RCB Bank ($3,753), FLAT BRANCH MORTGAGE, INC. ($3,921), .
The lowest rate Ponca City lenders (with over 10 loans originated) are
RCB Bank (6.00%), FLAT BRANCH MORTGAGE, INC. (6.67%), .
Ponca City, OK 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 |
|---|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | $15,595,000 | $12,990,000 | -16.7% | 17.0% |
| RCB Bank | $10,120,000 | $8,660,000 | -14.4% | 11.3% |
| First National Bank Of Oklahoma | $11,870,000 | $5,365,000 | -54.8% | 7.0% |
| Community National Bank & Trust | $4,670,000 | $5,200,000 | 11.3% | 6.8% |
| Equity Bank | $9,810,000 | $5,140,000 | -47.6% | 6.7% |
| QUICKEN LOANS, LLC | $6,640,000 | $4,200,000 | -36.7% | 5.5% |
| BancFirst | $4,485,000 | $4,130,000 | -7.9% | 5.4% |
| Mortgage Research Center, LLC | $3,460,000 | $3,300,000 | -4.6% | 4.3% |
| OPEN MORTGAGE, LLC | $835,000 | $2,030,000 | 143.1% | 2.7% |
| USAA Federal Savings Bank | $605,000 | $1,270,000 | 109.9% | 1.7% |
| The Central Trust Bank | $1,150,000 | n/a | 1.5% | |
| PENNYMAC LOAN SERVICES, LLC | $620,000 | $1,115,000 | 79.8% | 1.5% |
| United Fidelity Funding Corp. | $2,895,000 | $1,090,000 | -62.3% | 1.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,265,000 | $980,000 | -22.5% | 1.3% |
| PREMIA MORTGAGE, LLC | $935,000 | n/a | 1.2% | |
| Great Plains National Bank | $1,360,000 | $920,000 | -32.4% | 1.2% |
| CORNERSTONE HOME LENDING, INC. | $2,110,000 | $895,000 | -57.6% | 1.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,755,000 | $830,000 | -52.7% | 1.1% |
| LOANPAL, LLC | $390,000 | $815,000 | 109.0% | 1.1% |
| LOANDEPOT.COM, LLC | $1,285,000 | $795,000 | -38.1% | 1.0% |
| THE KAW VALLEY STATE BANK AND TRUST COMPANY, OF WAMEGO, KANSAS | $745,000 | n/a | 1.0% | |
| Gateway First Bank | $360,000 | $705,000 | 95.8% | 0.9% |
| AMERISAVE MORTGAGE CORPORATION | $425,000 | $675,000 | 58.8% | 0.9% |
| JPMorgan Chase Bank | $130,000 | $590,000 | 353.8% | 0.8% |
| First United Bank and Trust Company | $640,000 | $540,000 | -15.6% | 0.7% |
| LENDINGHOME FUNDING CORPORATION | $490,000 | n/a | 0.6% | |
| PENTAGON FEDERAL CREDIT UNION | $450,000 | n/a | 0.6% | |
| SENTE MORTGAGE, INC. | $275,000 | $425,000 | 54.5% | 0.6% |
| F & M Bank | $3,200,000 | $375,000 | -88.3% | 0.5% |
| ACADEMY MORTGAGE CORPORATION | $370,000 | n/a | 0.5% | |
| NEWREZ LLC | $35,000 | $345,000 | 885.7% | 0.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $740,000 | $325,000 | -56.1% | 0.4% |
| 21ST MORTGAGE CORPORATION | $395,000 | $320,000 | -19.0% | 0.4% |
| BancorpSouth | $315,000 | n/a | 0.4% | |
| Carrington Mortgage Services, LLC | $75,000 | $300,000 | 300.0% | 0.4% |
| Discover Bank | $395,000 | $280,000 | -29.1% | 0.4% |
| AMCAP MORTGAGE, LTD. | $230,000 | $275,000 | 19.6% | 0.4% |
| Flagstar Bank, FSB | $260,000 | $275,000 | 5.8% | 0.4% |
| The Bennington State Bank | $265,000 | n/a | 0.3% | |
| First Fidelity Bank | $260,000 | n/a | 0.3% | |
| Stride Bank | $245,000 | $255,000 | 4.1% | 0.3% |
| The Union State Bank | $425,000 | $215,000 | -49.4% | 0.3% |
| Waterstone Mortgage Corporation | $215,000 | n/a | 0.3% | |
| Simmons Bank | $385,000 | $210,000 | -45.5% | 0.3% |
| MidFirst Bank | $205,000 | n/a | 0.3% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $195,000 | n/a | 0.3% | |
| Neighborhood Loans, Inc. | $185,000 | n/a | 0.2% | |
| Arvest Bank | $610,000 | $170,000 | -72.1% | 0.2% |
| AXIA FINANCIAL, LLC | $165,000 | n/a | 0.2% | |
| FIRST AMERICAN MORTGAGE, INC. | $165,000 | n/a | 0.2% | |
| Tinker Federal Credit Union | $35,000 | $160,000 | 357.1% | 0.2% |
| AMERICAN EXCHANGE BANK | $155,000 | n/a | 0.2% | |
| AmeriHome Mortgage Company, LLC | $155,000 | n/a | 0.2% | |
| POLARIS HOME FUNDING CORP. | $155,000 | n/a | 0.2% | |
| LAKEVIEW LOAN SERVICING, LLC | $220,000 | $145,000 | -34.1% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $105,000 | $140,000 | 33.3% | 0.2% |
| BROKER SOLUTIONS, INC. | $270,000 | $135,000 | -50.0% | 0.2% |
| Morgan Stanley Private Bank | $125,000 | $135,000 | 8.0% | 0.2% |
| The City National Bank and Trust Company of Lawton | $35,000 | $135,000 | 285.7% | 0.2% |
| TruHome Solutions, LLC | $195,000 | $135,000 | -30.8% | 0.2% |
| Colonial Savings, F.A. | $65,000 | $125,000 | 92.3% | 0.2% |
| COUNTRYPLACE MORTGAGE, LTD. | $125,000 | n/a | 0.2% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $115,000 | $125,000 | 8.7% | 0.2% |
| Town Square Mortgage & Investments, Inc. | $125,000 | n/a | 0.2% | |
| AMWEST FUNDING CORP. | $115,000 | n/a | 0.2% | |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $230,000 | $115,000 | -50.0% | 0.2% |
| U.S. Bank | $515,000 | $110,000 | -78.6% | 0.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $855,000 | $105,000 | -87.7% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $105,000 | n/a | 0.1% | |
| Chickasaw Community Bank | $165,000 | $95,000 | -42.4% | 0.1% |
| Coastal Community Bank | $95,000 | n/a | 0.1% | |
| MID AMERICA MORTGAGE, INC. | $1,030,000 | $95,000 | -90.8% | 0.1% |
| BOKF | $325,000 | $90,000 | -72.3% | 0.1% |
| KANZA Bank | $85,000 | n/a | 0.1% | |
| Truist | $85,000 | n/a | 0.1% | |
| UNION HOME MORTGAGE CORP. | $85,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $290,000 | $75,000 | -74.1% | 0.1% |
| CSL Financial, LLC | $175,000 | $75,000 | -57.1% | 0.1% |
| New Century Bank | $75,000 | n/a | 0.1% | |
| CARDINAL FINANCIAL | $65,000 | n/a | 0.1% | |
| F&A Federal Credit Union | $65,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $65,000 | n/a | 0.1% | |
| American Mortgage & Equity Consultants, Inc. | $55,000 | n/a | 0.1% | |
| BMO Harris Bank | $55,000 | n/a | 0.1% | |
| Prosperity Bank | $55,000 | n/a | 0.1% | |
| OKLAHOMA'S | $35,000 | n/a | 0.0% | |
| Citizens Bank | $25,000 | n/a | 0.0% | |
| COMMUNICATION | $150,000 | $25,000 | -83.3% | 0.0% |
| Wichita Federal Credit Union | $15,000 | n/a | 0.0% |
Ponca City's top lender by overall market share is FLAT BRANCH MORTGAGE, INC., with 17.0% market share. In second place, with 11.3%, is RCB Bank, having originated $8,660,000 in loans. In third place, with 7.0%, is First National Bank Of Oklahoma, having originated $5,365,000 in loans. In fourth place, with 6.8%, is Community National Bank & Trust, having originated $5,200,000 in loans. In fifth place, with 6.7%, is Equity Bank, having originated $5,140,000 in loans.
Ponca City, OK Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 400 | $55,690,000 | $139,225 |
| Refi | 89 | $8,365,000 | $93,989 |
| Home Improvement | 59 | $3,795,000 | $64,322 |
| Cash Out Refi | 52 | $6,550,000 | $125,962 |
| Other | 40 | $2,120,000 | $53,000 |
Ponca City's most frequently cited loan purpose was Home Purchase, with 400 originations. The 2nd most popular reason was Refi, with 89 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 203 | $29,525,000 | $145,443 |
| 7-8% | 137 | $15,405,000 | $112,445 |
| Over 8% | 125 | $9,565,000 | $76,520 |
| 5-6% | 73 | $12,085,000 | $165,548 |
| <2.5% | 20 | $1,180,000 | $59,000 |
| 4-5% | 9 | $1,355,000 | $150,556 |
During 2023, Ponca City's most frequently originated rate bucket was 6-7%, with 203 originations.
Loan Sizing (Ponca City, OK MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 336 | $18,760,000 | $55,833 |
| $100k-200k | 216 | $30,920,000 | $143,148 |
| $200k-400k | 77 | $20,935,000 | $271,883 |
| $400k-600k | 8 | $3,620,000 | $452,500 |
| $600k-1000k | 3 | $2,285,000 | $761,667 |
Ponca City's loan sizing saw the bucket of loans from $100,000 or less with 336 originations, totaling $18,760,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 269 | $38,635,000 | $143,625 |
| 60-80% | 146 | $20,320,000 | $139,178 |
| 20-40% | 50 | $2,560,000 | $51,200 |
| 40-60% | 50 | $4,030,000 | $80,600 |
| Under 20% | 41 | $1,595,000 | $38,902 |
| Over 100% | 9 | $1,895,000 | $210,556 |
Ponca City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 269 originations, totaling $38,635,000 in origination value.