Price Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Price averaged
6.51%
for the week of 2023-12-07, compared to the national average of
7.03% for the same period.
The average rate for the prior week (2023-11-30) was
6.9% and
one month ago for the week of 2023-11-02, the
average rate was 7.64%.
Price's average rate one year ago was 5.97%.
For refis of the same type during the week of 2023-12-07, the average rate
was 7.43%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-12-07 | 7.03% |
| Price 30 Year Fixed Rate | 2023-12-07 | 6.51% |
| Price 30 Year Fixed Rate Refi | 2023-12-07 | 7.43% |
| Price 15 Year Fixed Rate | 2023-12-07 | 6.09% |
| Price 15 Year Fixed Rate Refi | 2023-12-07 | 6.59% |
| Price 30 Year FHA | 2023-12-07 | 6.57% |
| Price 30 Year FHA Refi | 2023-12-07 | 6.82% |
| Price 30 Year USDA | 2023-12-07 | 6.72% |
| Price 30 Year USDA Refi | 2023-12-07 | 6.72% |
| Price 30 Year VA | 2023-12-07 | 6.74% |
| Price 30 Year VA Refi | 2023-12-07 | 6.74% |
Price 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 Price, UT 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.).
Price Average Closing Costs & Other Stats
Price, UT's 56 lenders originated 636
loans during 2022. The total origination value was $110,930,000, with an average loan value of
$174,418.
Price's average closing costs are $4,971.
The top Price lender as defined by loan originations is Bank of Utah, with
20 loans originated. Their average total fees are
$5,276, which is $1,336
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Price lenders (with over 10 loans originated) are
Utah Power ($3,586), UNITED WHOLESALE MORTGAGE, LLC ($4,905), Paramount Residential Mortgage Group, Inc. ($5,167), Bank of Utah ($5,276) and INTERCAP LENDING INC. ($5,502).
The lowest rate Price lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.59%), UNITED WHOLESALE MORTGAGE, LLC (4.71%), Paramount Residential Mortgage Group, Inc. (4.89%), INTERCAP LENDING INC. (4.97%) and Utah Power (5.19%).
Price, UT 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 |
|---|---|---|---|---|
| MOUNTAIN AMERICA | $8,570,000 | $11,900,000 | 38.9% | 10.7% |
| Bank of Utah | $18,485,000 | $10,475,000 | -43.3% | 9.4% |
| Paramount Residential Mortgage Group, Inc. | $2,105,000 | $8,340,000 | 296.2% | 7.5% |
| Utah Power | $11,025,000 | $7,405,000 | -32.8% | 6.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $16,345,000 | $7,370,000 | -54.9% | 6.6% |
| QUICKEN LOANS, LLC | $13,085,000 | $6,905,000 | -47.2% | 6.2% |
| INTERCAP LENDING INC. | $5,170,000 | $4,120,000 | -20.3% | 3.7% |
| BROKER SOLUTIONS, INC. | $4,855,000 | $3,355,000 | -30.9% | 3.0% |
| VERITAS FUNDING, LLC | $5,200,000 | $2,995,000 | -42.4% | 2.7% |
| UTAH COMMUNITY | $1,435,000 | $2,870,000 | 100.0% | 2.6% |
| FIRST COLONY MORTGAGE CORPORATION | $2,735,000 | $2,710,000 | -0.9% | 2.4% |
| Washington Federal Bank | $2,020,000 | $2,290,000 | 13.4% | 2.1% |
| Zions Bancorporation, N.A. | $2,305,000 | $2,195,000 | -4.8% | 2.0% |
| SECURITY HOME MORTGAGE, LLC. | $1,255,000 | $2,190,000 | 74.5% | 2.0% |
| CALIBER HOME LOANS, INC. | $1,465,000 | $1,725,000 | 17.7% | 1.6% |
| CRESCENT MORTGAGE COMPANY | $3,115,000 | $1,430,000 | -54.1% | 1.3% |
| Wells Fargo Bank | $2,780,000 | $1,430,000 | -48.6% | 1.3% |
| AMERICA FIRST | $2,930,000 | $1,340,000 | -54.3% | 1.2% |
| PENNYMAC LOAN SERVICES, LLC | $2,915,000 | $1,295,000 | -55.6% | 1.2% |
| GUILD MORTGAGE COMPANY | $4,220,000 | $1,280,000 | -69.7% | 1.2% |
| SECURITYNATIONAL MORTGAGE COMPANY | $1,890,000 | $1,215,000 | -35.7% | 1.1% |
| Cache Valley Bank | $1,015,000 | $1,200,000 | 18.2% | 1.1% |
| ACADEMY MORTGAGE CORPORATION | $1,225,000 | $1,135,000 | -7.3% | 1.0% |
| DIRECT MORTGAGE, CORP. | $995,000 | $1,120,000 | 12.6% | 1.0% |
| HOME POINT FINANCIAL CORPORATION | $2,435,000 | $1,110,000 | -54.4% | 1.0% |
| LOANDEPOT.COM, LLC | $3,115,000 | $1,075,000 | -65.5% | 1.0% |
| EVERETT FINANCIAL, INC. | $1,045,000 | n/a | 0.9% | |
| KeyBank | $425,000 | $935,000 | 120.0% | 0.8% |
| NEWREZ LLC | $1,035,000 | $720,000 | -30.4% | 0.6% |
| Mortgage Research Center, LLC | $1,210,000 | $690,000 | -43.0% | 0.6% |
| Northpointe Bank | $530,000 | $655,000 | 23.6% | 0.6% |
| RANLIFE, INC. | $1,330,000 | $655,000 | -50.8% | 0.6% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $465,000 | $630,000 | 35.5% | 0.6% |
| LOANPAL, LLC | $700,000 | $610,000 | -12.9% | 0.5% |
| FREEDOM MORTGAGE CORPORATION | $1,250,000 | $565,000 | -54.8% | 0.5% |
| PLAZA HOME MORTGAGE, INC. | $145,000 | $555,000 | 282.8% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $1,275,000 | $515,000 | -59.6% | 0.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,015,000 | $515,000 | -49.3% | 0.5% |
| CYPRUS Federal Credit Union | $745,000 | $485,000 | -34.9% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $470,000 | n/a | 0.4% | |
| Utah Mortgage Loan Corporation | $530,000 | $455,000 | -14.2% | 0.4% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $420,000 | n/a | 0.4% | |
| Glacier Bank | $1,700,000 | $415,000 | -75.6% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $415,000 | n/a | 0.4% | |
| CANOPY MORTGAGE, LLC | $6,355,000 | $410,000 | -93.5% | 0.4% |
| BAY EQUITY LLC | $760,000 | $395,000 | -48.0% | 0.4% |
| CITYWIDE HOME LOANS, LLC | $480,000 | $375,000 | -21.9% | 0.3% |
| Plains Commerce Bank | $435,000 | $370,000 | -14.9% | 0.3% |
| U.S. Bank | $520,000 | $355,000 | -31.7% | 0.3% |
| Barrington Bank & Trust Company, N.A. | $45,000 | $320,000 | 611.1% | 0.3% |
| AMERICAN ADVISORS GROUP | $370,000 | $315,000 | -14.9% | 0.3% |
| CASTLE & COOKE MORTGAGE, LLC | $2,190,000 | $300,000 | -86.3% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $370,000 | $290,000 | -21.6% | 0.3% |
| MID AMERICA MORTGAGE, INC. | $275,000 | n/a | 0.2% | |
| University First Federal Credit Union | $165,000 | $275,000 | 66.7% | 0.2% |
| NBH Bank | $245,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $290,000 | $245,000 | -15.5% | 0.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,465,000 | $235,000 | -84.0% | 0.2% |
| GUARANTEED RATE, INC. | $225,000 | $235,000 | 4.4% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $955,000 | $235,000 | -75.4% | 0.2% |
| USAA Federal Savings Bank | $410,000 | $235,000 | -42.7% | 0.2% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $115,000 | $230,000 | 100.0% | 0.2% |
| Gateway First Bank | $295,000 | $215,000 | -27.1% | 0.2% |
| MY MOVE MORTGAGE, LLC | $570,000 | $205,000 | -64.0% | 0.2% |
| SUN AMERICAN MORTGAGE COMPANY | $1,375,000 | $195,000 | -85.8% | 0.2% |
| Carrington Mortgage Services, LLC | $270,000 | $190,000 | -29.6% | 0.2% |
| AMERICAN UNITED FAMILY OF CREDIT UN | $265,000 | $185,000 | -30.2% | 0.2% |
| Nations Lending Corporation | $280,000 | $185,000 | -33.9% | 0.2% |
| PANORAMA MORTGAGE GROUP, LLC | $95,000 | $185,000 | 94.7% | 0.2% |
| LIBERTY HOME MORTGAGE CORPORATION | $175,000 | n/a | 0.2% | |
| Network Funding, L.P. | $305,000 | $175,000 | -42.6% | 0.2% |
| Alpine Credit Union | $165,000 | n/a | 0.1% | |
| Bank of America | $215,000 | $165,000 | -23.3% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $155,000 | $165,000 | 6.5% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $175,000 | $155,000 | -11.4% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $155,000 | n/a | 0.1% | |
| The Federal Savings Bank | $215,000 | $155,000 | -27.9% | 0.1% |
| MORIA DEVELOPMENT, INC. | $145,000 | n/a | 0.1% | |
| Wyndham Capital Mortgage, Inc. | $145,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $580,000 | $135,000 | -76.7% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $2,415,000 | $135,000 | -94.4% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $115,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $605,000 | $115,000 | -81.0% | 0.1% |
| CHARTWAY FEDERAL CREDIT UNION | $55,000 | $105,000 | 90.9% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $145,000 | $105,000 | -27.6% | 0.1% |
| PHH Mortgage Corporation | $425,000 | $105,000 | -75.3% | 0.1% |
| Deseret First Credit Union | $100,000 | n/a | 0.1% | |
| Peoples Bank | $95,000 | n/a | 0.1% | |
| REVERSE MORTGAGE FUNDING LLC | $95,000 | n/a | 0.1% | |
| Truist | $295,000 | $65,000 | -78.0% | 0.1% |
| GOLDENWEST | $125,000 | $35,000 | -72.0% | 0.0% |
| SECURITY SERVICE | $35,000 | n/a | 0.0% |
Price's top lender by overall market share is MOUNTAIN AMERICA, with 10.7% market share. In second place, with 9.4%, is Bank of Utah, having originated $10,475,000 in loans. In third place, with 7.5%, is Paramount Residential Mortgage Group, Inc., having originated $8,340,000 in loans. In fourth place, with 6.7%, is Utah Power, having originated $7,405,000 in loans. In fifth place, with 6.6%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $7,370,000 in loans.
Price, UT Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 316 | $66,800,000 | $211,392 |
| Cash Out Refi | 129 | $24,415,000 | $189,264 |
| Refi | 89 | $12,495,000 | $140,393 |
| Other | 65 | $4,855,000 | $74,692 |
| Home Improvement | 37 | $2,365,000 | $63,919 |
Price's most frequently cited loan purpose was Home Purchase, with 316 originations. The 2nd most popular reason was Cash Out Refi, with 129 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 161 | $28,105,000 | $174,565 |
| 5-6% | 161 | $31,935,000 | $198,354 |
| 3-4% | 132 | $26,960,000 | $204,242 |
| 6-7% | 76 | $12,600,000 | $165,789 |
| 7-8% | 38 | $3,920,000 | $103,158 |
| 2.5-3% | 29 | $4,305,000 | $148,448 |
| Over 8% | 24 | $720,000 | $30,000 |
| <2.5% | 15 | $2,385,000 | $159,000 |
During 2022, Price's most frequently originated rate bucket was 4-5%, with 161 originations.
Loan Sizing (Price, UT MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 218 | $32,500,000 | $149,083 |
| $100,000 or less | 201 | $9,945,000 | $49,478 |
| $200k-400k | 185 | $50,845,000 | $274,838 |
| $400k-600k | 28 | $13,200,000 | $471,429 |
| $600k-1000k | 3 | $1,935,000 | $645,000 |
| $Over $1MM | 1 | $2,505,000 | $2,505,000 |
Price's loan sizing saw the bucket of loans from $100k-200k with 218 originations, totaling $32,500,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 229 | $54,405,000 | $237,576 |
| 60-80% | 160 | $35,800,000 | $223,750 |
| Under 20% | 100 | $2,850,000 | $28,500 |
| 40-60% | 80 | $11,860,000 | $148,250 |
| 20-40% | 63 | $5,215,000 | $82,778 |
| Over 100% | 3 | $755,000 | $251,667 |
Price's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 229 originations, totaling $54,405,000 in origination value.