Salem Mortgage Rates

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

30 Year Fixed Rate mortgages in Salem averaged 6.01% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

The average rate for the prior week (2022-06-16) was 5.88% and one month ago for the week of 2022-05-19, the average rate was 5.65%.

Salem's average rate one year ago was 3.23%.

For refis of the same type during the week of 2022-06-23, the average rate was 6.03%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Salem 30 Year Fixed Rate 2022-06-23 6.01%
Salem 30 Year Fixed Rate Refi 2022-06-23 6.03%
Salem 15 Year Fixed Rate 2022-06-23 5.52%
Salem 15 Year Fixed Rate Refi 2022-06-23 5.21%
Salem 30 Year FHA 2022-06-23 0%
Salem 30 Year FHA Refi 2022-06-23 0.31%
Salem 30 Year USDA 2022-06-23 0.12%
Salem 30 Year USDA Refi 2022-06-23 0.37%
Salem 30 Year VA 2022-06-23 0.59%
Salem 30 Year VA Refi 2022-06-23 -0.08%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Salem, OH.

Salem Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Salem, OH 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
The Huntington National Bank 109 3.17% $3,399
HANCOCK COUNTY SAVINGS BANK, FSB, INC. 104 3.25% $1,791
QUICKEN LOANS, LLC 95 3.18% $4,924
First Federal Bank of the Midwest 44 3.17% $3,100
The Farmers National Bank of Canfield 42 3.40% $3,631
JPMorgan Chase Bank 40 3.16% $3,037
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 3.28% $3,316
AMERIFIRST FINANCIAL CORPORATION 26 3.31% $4,539
Seven Seventeen Credit Union 21 3.13% $3,770
First Commonwealth Bank 19 3.16% $3,039
HOWARD HANNA FINANCIAL SERVICES, INC. 18 3.10% $3,433
Waterstone Mortgage Corporation 18 3.53% $5,028
HOMESIDE FINANCIAL, LLC 17 3.25% $3,906
LOANDEPOT.COM, LLC 15 3.32% $4,156
Citizens Bank 15 3.11% $4,003
KeyBank 13 3.21% $2,477
PNC Bank 12 3.01% $3,372
Wells Fargo Bank 11 3.18% $3,309
Farm Credit Mid-America, ACA 10 3.45% $4,850
WEST PENN FINANCIAL SERVICE CENTER, INC. 10 3.11% $2,889
AMERISAVE MORTGAGE CORPORATION 10 2.98% $5,431
CROSSCOUNTRY MORTGAGE, LLC 10 3.41% $4,648
BROKER SOLUTIONS, INC. 8 3.14% $4,216
POLARIS HOME FUNDING CORP. 7 3.27% $3,669
Merchants Bank of Indiana 7 3.39% $3,329
Ixonia Bank 7 3.45% $4,137
Mr. Cooper ( Nationstar Mortgage ) 7 3.64% $5,511
RAPID MORTGAGE COMPANY 7 3.29% $3,928
GUARANTEED RATE, INC. 6 3.02% $2,966
Victorian Finance, LLC 6 3.08% $2,828
UNITED WHOLESALE MORTGAGE, LLC 6 2.96% $5,057
ROYAL UNITED MORTGAGE LLC 6 3.10% $6,818
First Federal Savings and Loan Association of Lakewood 5 3.08% $4,452
Nations Lending Corporation 5 3.10% $6,003
NAVY FEDERAL CREDIT UNION 5 3.33% $2,463
NEWREZ LLC 5 3.37% $2,786
PENNYMAC LOAN SERVICES, LLC 5 3.27% $4,399
The Cortland Savings and Banking Company 4 3.03% $3,482
WesBanco Bank, Inc. 4 3.16% $4,810
BETTER MORTGAGE CORPORATION 4 2.84% $3,191
UNION HOME MORTGAGE CORP. 4 3.19% $3,360
LIBERTY HOME MORTGAGE CORPORATION 3 3.33% $3,438
AMERICAN FINANCING CORPORATION 3 3.46% $3,832
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.41% $4,477
FREEDOM MORTGAGE CORPORATION 3 3.17% $4,703
MORIA DEVELOPMENT, INC. 3 3.46% $3,453
NATIONWIDE MORTGAGE BANKERS, INC. 3 3.29% $4,147
U.S. Bank 3 3.21% $3,016
T2 FINANCIAL LLC 2 2.56% $3,007
Fifth Third Bank 2 3.18% $3,739
CALIBER HOME LOANS, INC. 2 3.00% $3,431
EVANSVILLE TEACHERS 2 3.19% $3,425
The Park National Bank 2 3.56% $3,505
Manufacturers and Traders Trust Company 2 3.44% $4,125
RESIDENTIAL MORTGAGE SERVICES, INC. 2 3.25% $3,985
CHURCHILL MORTGAGE CORPORATION 2 3.88% $3,300
First National Bank of Pennsylvania 2 3.19% $3,194
CELEBRITY HOME LOANS, LLC 2 3.31% $3,778
SIGNATURE MORTGAGE CORPORATION 2 2.81% $3,056
Bank of America 2 3.19% $2,385
RELIANCE FIRST CAPITAL, LLC 2 3.19% $5,622
Strong Home Mortgage, LLC 2 3.25% $865
HOME POINT FINANCIAL CORPORATION 2 3.12% $2,480
SUN WEST MORTGAGE COMPANY, INC. 2 3.18% $1,933
PENTAGON FEDERAL CREDIT UNION 1 2.63% $1,805
PLUS RELOCATION MORTGAGE, LLC 1 2.88% $2,553
EQUITY RESOURCES, INC. 1 2.88% $2,510
Colonial Savings, F.A. 1 3.50% $9,051
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.00% $4,004
Cf Bank 1 2.50% $2,269
Republic Bank & Trust Company 1 3.25% $3,697
Republic State Mortgage Co. 1 3.00% $4,375
RESIDENTIAL BANCORP. 1 2.99% $4,757
Centra Credit Union 1 3.13% $5,526
RUOFF MORTGAGE COMPANY, INC. 1 3.25% $2,345
SOMERSET TRUST COMPANY 1 3.13% $2,319
Carrington Mortgage Services, LLC 1 2.88% $3,769
BNC National Bank 1 2.75% $3,811
The Union Bank Company 1 3.38% $3,454
Third Federal Savings and Loan Association of Cleveland 1 2.99% $3,329
TOP FLITE FINANCIAL, INC. 1 3.75% $3,818
Barrington Bank & Trust Company, N.A. 1 4.13% $3,797
Bank of England 1 3.75% $3,392
21ST MORTGAGE CORPORATION 1 6.30% $3,873
AMERICAN ADVISORS GROUP 1 3.25% $2,501
InterContinental Capital Group, Inc 1 3.38% $4,470
Flagstar Bank, FSB 1 3.27% $2,215
JLB CORPORATION 1 2.88% $3,849
First Savings Bank 1 3.13% $3,556
LENDSURE MORTGAGE CORP. 1 4.63% $8,878
1ST SIGNATURE LENDING, LLC 1 2.75% $3,945
First Internet Bank of Indiana 1 2.88% $3,868
MICHIGAN MUTUAL, INC. 1 3.63% $4,612
AMCAP MORTGAGE, LTD. 1 2.88% $5,253
Mortgage Research Center, LLC 1 2.75% $3,561
First Home Bank 1 3.38% $9,355
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.38% $3,574
First Guaranty Mortgage Corporation 1 3.13% $5,054
Ally Bank 1 4.00% $3,529
FIRST COMMUNITY MORTGAGE, INC. 1 3.25% $2,958
NFM, INC. 1 3.13% $4,455
Northpointe Bank 1 3.88% $4,067
Paramount Residential Mortgage Group, Inc. 1 2.63% $3,462

Salem, OH's 103 lenders originated 3,177 loans during 2021. The total origination value was $426,495,000, with an average loan value of $134,245.

The top Salem lender as defined by loan originations is The Huntington National Bank, with 109 loans originated. Their average total fees are $3,399, which is $1,607 higher than the next largest lender, HANCOCK COUNTY SAVINGS BANK, FSB, INC..

The lowest fee Salem lenders (with over 10 loans originated) are HANCOCK COUNTY SAVINGS BANK, FSB, INC. ($1,791), KeyBank ($2,477), WEST PENN FINANCIAL SERVICE CENTER, INC. ($2,889), JPMorgan Chase Bank ($3,037) and First Commonwealth Bank ($3,039).

The lowest rate Salem lenders (with over 10 loans originated) are AMERISAVE MORTGAGE CORPORATION (2.98%), PNC Bank (3.01%), HOWARD HANNA FINANCIAL SERVICES, INC. (3.10%), Citizens Bank (3.11%) and WEST PENN FINANCIAL SERVICE CENTER, INC. (3.11%).

Salem, OH Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
The Huntington National Bank $57,010,000 $53,380,000 -6.4% 12.5%
QUICKEN LOANS, LLC $29,655,000 $44,840,000 51.2% 10.5%
First Federal Bank of the Midwest $33,845,000 $30,095,000 -11.1% 7.1%
The Farmers National Bank of Canfield $34,575,000 $22,430,000 -35.1% 5.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $18,990,000 $19,645,000 3.4% 4.6%
HANCOCK COUNTY SAVINGS BANK, FSB, INC. $19,545,000 $18,635,000 -4.7% 4.4%
JPMorgan Chase Bank $7,430,000 $11,345,000 52.7% 2.7%
First Commonwealth Bank $3,805,000 $9,810,000 157.8% 2.3%
AMERIFIRST FINANCIAL CORPORATION $9,540,000 $8,780,000 -8.0% 2.1%
FREEDOM MORTGAGE CORPORATION $8,980,000 $8,580,000 -4.5% 2.0%
Waterstone Mortgage Corporation $3,810,000 $8,145,000 113.8% 1.9%
Seven Seventeen Credit Union $6,640,000 $8,035,000 21.0% 1.9%
KeyBank $4,335,000 $6,845,000 57.9% 1.6%
Mortgage Research Center, LLC $5,260,000 $6,760,000 28.5% 1.6%
Consumers National Bank $4,695,000 $6,535,000 39.2% 1.5%
Citizens Bank $6,565,000 $6,425,000 -2.1% 1.5%
LOANDEPOT.COM, LLC $2,630,000 $6,225,000 136.7% 1.5%
HOWARD HANNA FINANCIAL SERVICES, INC. $2,585,000 $5,935,000 129.6% 1.4%
Wayne Savings Community Bank $65,000 $5,425,000 8,246.2% 1.3%
PNC Bank $6,500,000 $5,420,000 -16.6% 1.3%
HOMESIDE FINANCIAL, LLC $575,000 $5,060,000 780.0% 1.2%
AMERISAVE MORTGAGE CORPORATION $1,015,000 $4,765,000 369.5% 1.1%
Farm Credit Mid-America, ACA $3,760,000 $4,435,000 18.0% 1.0%
CROSSCOUNTRY MORTGAGE, LLC $2,400,000 $4,295,000 79.0% 1.0%
Wells Fargo Bank $2,690,000 $3,790,000 40.9% 0.9%
LAKEVIEW LOAN SERVICING, LLC $1,240,000 $3,700,000 198.4% 0.9%
PENNYMAC LOAN SERVICES, LLC $790,000 $3,610,000 357.0% 0.8%
NEWREZ LLC $925,000 $3,535,000 282.2% 0.8%
NAVY FEDERAL CREDIT UNION $1,860,000 $3,270,000 75.8% 0.8%
Ixonia Bank $2,190,000 $2,980,000 36.1% 0.7%
UNITED WHOLESALE MORTGAGE, LLC $2,395,000 $2,895,000 20.9% 0.7%
Merchants Bank of Indiana $2,625,000 $2,830,000 7.8% 0.7%
The Cortland Savings and Banking Company $2,375,000 $2,815,000 18.5% 0.7%
CALIBER HOME LOANS, INC. $2,985,000 $2,525,000 -15.4% 0.6%
WEST PENN FINANCIAL SERVICE CENTER, INC. $3,040,000 $2,520,000 -17.1% 0.6%
Nations Lending Corporation $955,000 $2,505,000 162.3% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $1,900,000 $2,395,000 26.1% 0.6%
BROKER SOLUTIONS, INC. $535,000 $2,300,000 329.9% 0.5%
U.S. Bank $3,345,000 $2,280,000 -31.8% 0.5%
POLARIS HOME FUNDING CORP. $1,240,000 $2,055,000 65.7% 0.5%
Carrington Mortgage Services, LLC $1,430,000 $1,895,000 32.5% 0.4%
RUOFF MORTGAGE COMPANY, INC. $2,035,000 $1,890,000 -7.1% 0.4%
UNION HOME MORTGAGE CORP. $6,085,000 $1,875,000 -69.2% 0.4%
GUARANTEED RATE, INC. $1,330,000 $1,830,000 37.6% 0.4%
RAPID MORTGAGE COMPANY $2,775,000 $1,795,000 -35.3% 0.4%
LIBERTY HOME MORTGAGE CORPORATION $730,000 $1,770,000 142.5% 0.4%
WesBanco Bank, Inc. $5,340,000 $1,750,000 -67.2% 0.4%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,095,000 $1,680,000 53.4% 0.4%
VILLAGE CAPITAL & INVESTMENT LLC $1,200,000 $1,590,000 32.5% 0.4%
First Federal Savings and Loan Association of Lakewood $640,000 $1,580,000 146.9% 0.4%
FIRST OHIO HOME FINANCE, INC. $1,060,000 $1,565,000 47.6% 0.4%
BETTER MORTGAGE CORPORATION $250,000 $1,505,000 502.0% 0.4%
Victorian Finance, LLC $1,260,000 $1,455,000 15.5% 0.3%
NATIONWIDE MORTGAGE BANKERS, INC. $1,760,000 $1,400,000 -20.5% 0.3%
First National Bank of Pennsylvania $9,785,000 $1,350,000 -86.2% 0.3%
NEW DAY FINANCIAL, LLC $1,230,000 $1,340,000 8.9% 0.3%
EQUITY RESOURCES, INC. $1,785,000 $1,280,000 -28.3% 0.3%
First Guaranty Mortgage Corporation $375,000 $1,245,000 232.0% 0.3%
USAA Federal Savings Bank $1,755,000 $1,190,000 -32.2% 0.3%
SUN WEST MORTGAGE COMPANY, INC. $120,000 $1,180,000 883.3% 0.3%
Third Federal Savings and Loan Association of Cleveland $1,285,000 $1,180,000 -8.2% 0.3%
Clearview Federal Credit Union $1,360,000 $1,160,000 -14.7% 0.3%
ROYAL UNITED MORTGAGE LLC $1,730,000 $1,100,000 -36.4% 0.3%
Ally Bank $135,000 $890,000 559.3% 0.2%
Cf Bank $525,000 $820,000 56.2% 0.2%
RiverHills Bank $115,000 $805,000 600.0% 0.2%
HOME POINT FINANCIAL CORPORATION $595,000 $800,000 34.5% 0.2%
SIGNATURE MORTGAGE CORPORATION $1,350,000 $785,000 -41.9% 0.2%
Fifth Third Bank $1,500,000 $765,000 -49.0% 0.2%
CELEBRITY HOME LOANS, LLC $750,000 n/a 0.2%
The Federal Savings Bank $765,000 $745,000 -2.6% 0.2%
Manufacturers and Traders Trust Company $725,000 n/a 0.2%
T2 FINANCIAL LLC $420,000 $690,000 64.3% 0.2%
United Bank $680,000 n/a 0.2%
MORIA DEVELOPMENT, INC. $735,000 $650,000 -11.6% 0.2%
CANTON SCHOOL EMPLOYEES $640,000 n/a 0.2%
TOP FLITE FINANCIAL, INC. $1,405,000 $610,000 -56.6% 0.1%
DAS Acquisition Company, LLC $590,000 n/a 0.1%
First Internet Bank of Indiana $550,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $160,000 $540,000 237.5% 0.1%
AMERICAN FINANCING CORPORATION $520,000 n/a 0.1%
CHURCHILL MORTGAGE CORPORATION $485,000 $505,000 4.1% 0.1%
Strong Home Mortgage, LLC $500,000 n/a 0.1%
Portage Community Bank $495,000 n/a 0.1%
RELIANCE FIRST CAPITAL, LLC $610,000 $490,000 -19.7% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $475,000 n/a 0.1%
HALLMARK HOME MORTGAGE, LLC $460,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $440,000 n/a 0.1%
JLB CORPORATION $410,000 n/a 0.1%
EVANSVILLE TEACHERS $95,000 $400,000 321.1% 0.1%
PLANET HOME LENDING, LLC $385,000 n/a 0.1%
NATIONS DIRECT MORTGAGE, LLC $375,000 n/a 0.1%
21ST MORTGAGE CORPORATION $100,000 $370,000 270.0% 0.1%
Bank of England $260,000 $365,000 40.4% 0.1%
Colonial Savings, F.A. $365,000 n/a 0.1%
Low VA Rates, LLC $425,000 $365,000 -14.1% 0.1%
The Commercial and Savings Bank of Millersburg Ohio $365,000 n/a 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $565,000 $360,000 -36.3% 0.1%
Meridian Bank Corporation $355,000 n/a 0.1%
FIRST CHOICE AMERICA COMMUNITY FEDERAL CREDIT UNION $205,000 $350,000 70.7% 0.1%
1ST SIGNATURE LENDING, LLC $35,000 $340,000 871.4% 0.1%
Bank of America $115,000 $340,000 195.7% 0.1%
Flagstar Bank, FSB $960,000 $335,000 -65.1% 0.1%
KS StateBank $335,000 n/a 0.1%
NFM, INC. $335,000 n/a 0.1%
North American Savings Bank, F.S.B. $335,000 n/a 0.1%
MYCUMORTGAGE, LLC $295,000 $330,000 11.9% 0.1%
Liberty National Bank $315,000 n/a 0.1%
Republic State Mortgage Co. $135,000 $310,000 129.6% 0.1%
City National Bank of West Virginia $295,000 n/a 0.1%
RESIDENTIAL MORTGAGE SERVICES, INC. $115,000 $290,000 152.2% 0.1%
Centra Credit Union $275,000 n/a 0.1%
Lakeview Community Capital, LLC $275,000 n/a 0.1%
SOFI LENDING CORP. $195,000 $275,000 41.0% 0.1%
The Union Bank Company $275,000 n/a 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $1,805,000 $275,000 -84.8% 0.1%
Community Bank $445,000 $265,000 -40.4% 0.1%
MID AMERICA MORTGAGE, INC. $180,000 $265,000 47.2% 0.1%
MICHIGAN MUTUAL, INC. $585,000 $260,000 -55.6% 0.1%
The Park National Bank $655,000 $260,000 -60.3% 0.1%
Dollar Bank, Federal Savings Bank $275,000 $245,000 -10.9% 0.1%
AMCAP MORTGAGE, LTD. $240,000 n/a 0.1%
SOMERSET TRUST COMPANY $240,000 n/a 0.1%
BNC National Bank $235,000 n/a 0.1%
TCF National Bank $540,000 $235,000 -56.5% 0.1%
PHH Mortgage Corporation $415,000 $230,000 -44.6% 0.1%
Renasant Bank $225,000 n/a 0.1%
Discover Bank $160,000 $215,000 34.4% 0.1%
FirstBank $215,000 n/a 0.1%
First Home Bank $215,000 n/a 0.1%
AMERICAN ADVISORS GROUP $165,000 $210,000 27.3% 0.0%
AMERICAN FINANCIAL NETWORK, INC. $300,000 $210,000 -30.0% 0.0%
CHERRY CREEK MORTGAGE, LLC $205,000 n/a 0.0%
ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION, INC. $340,000 $200,000 -41.2% 0.0%
PLUS RELOCATION MORTGAGE, LLC $195,000 n/a 0.0%
SSB Bank $195,000 n/a 0.0%
CREDIT UNION OF OHIO $185,000 n/a 0.0%
InterContinental Capital Group, Inc $185,000 n/a 0.0%
Figure Lending LLC $50,000 $180,000 260.0% 0.0%
Hometown Equity Mortgage, LLC $85,000 $180,000 111.8% 0.0%
LOANPAL, LLC $175,000 n/a 0.0%
American Midwest Mortgage Corporation $175,000 $165,000 -5.7% 0.0%
Chicago Mortgage Solutions LLC $165,000 n/a 0.0%
RESIDENTIAL BANCORP. $185,000 $165,000 -10.8% 0.0%
LENDSURE MORTGAGE CORP. $155,000 n/a 0.0%
Paramount Residential Mortgage Group, Inc. $290,000 $155,000 -46.6% 0.0%
YOUR HOME FINANCIAL LLC $155,000 n/a 0.0%
Truist Bank $65,000 $150,000 130.8% 0.0%
Republic Bank & Trust Company $145,000 n/a 0.0%
DEVELOPER'S MORTGAGE COMPANY $135,000 n/a 0.0%
Northwest Bank $385,000 $135,000 -64.9% 0.0%
AMERICAN FINANCIAL RESOURCES, INC. $645,000 $125,000 -80.6% 0.0%
DOMINION ENERGY CREDIT UNION $125,000 n/a 0.0%
SIWELL, INC. $225,000 $125,000 -44.4% 0.0%
Stifel Bank and Trust $405,000 $125,000 -69.1% 0.0%
STARK FEDERAL CREDIT UNION $105,000 $120,000 14.3% 0.0%
Northpointe Bank $115,000 n/a 0.0%
AMERICAN INTERNET MORTGAGE, INC. $105,000 n/a 0.0%
FIRST COMMUNITY MORTGAGE, INC. $105,000 n/a 0.0%
First Savings Bank $135,000 $105,000 -22.2% 0.0%
LENDUS, LLC $105,000 n/a 0.0%
TRIAD FINANCIAL SERVICES, INC. $95,000 $100,000 5.3% 0.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $95,000 n/a 0.0%
SUPERIOR FINANCIAL SOLUTIONS, LLC $95,000 n/a 0.0%
ACADEMY MORTGAGE CORPORATION $75,000 n/a 0.0%
West-Aircomm Federal Credit Union $75,000 n/a 0.0%
LENDINGHOME FUNDING CORPORATION $55,000 $55,000 0.0% 0.0%
Sutton Bank $55,000 n/a 0.0%
NUMARK CREDIT UNION $25,000 n/a 0.0%

Salem's top lender by overall market share is The Huntington National Bank, with 12.5% market share. In second place, with 10.5%, is QUICKEN LOANS, LLC, having originated $44,840,000 in loans. In third place, with 7.1%, is First Federal Bank of the Midwest, having originated $30,095,000 in loans. In third place, with 5.3%, is The Farmers National Bank of Canfield, having originated $22,430,000 in loans. In third place, with 4.6%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $19,645,000 in loans.


Salem, OH Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 1,165 $184,555,000 $158,416
Refi 1,078 $141,950,000 $131,679
Cash Out Refi 541 $73,095,000 $135,111
Home Improvement 261 $17,345,000 $66,456
Other 132 $9,550,000 $72,348

Salem's most frequently cited loan purpose was Home Purchase, with 1,165 originations. The 2nd most popular reason was Refi, with 1,078 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 1,362 $179,800,000 $132,012
2.5-3% 1,045 $153,655,000 $147,038
<2.5% 366 $57,650,000 $157,514
4-5% 169 $14,385,000 $85,118
5-6% 80 $3,900,000 $48,750
6-7% 28 $890,000 $31,786
7-8% 15 $495,000 $33,000
Over 8% 13 $485,000 $37,308

During 2021, Salem's most frequently originated rate bucket was 3-4%, with 1,362 originations.

Loan Sizing (Salem, OH MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 1,401 $196,555,000 $140,296
$100,000 or less 1,234 $76,990,000 $62,391
$200k-400k 494 $128,590,000 $260,304
$400k-600k 41 $19,175,000 $467,683
$600k-1000k 7 $5,185,000 $740,714

Salem's loan sizing saw the bucket of loans from $100k-200k with 1,401 originations, totaling $196,555,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 1,201 $192,345,000 $160,154
60-80% 904 $129,270,000 $142,998
40-60% 439 $49,215,000 $112,107
20-40% 296 $19,230,000 $64,966
Under 20% 146 $4,640,000 $31,781
Over 100% 20 $4,370,000 $218,500

Salem's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,201 originations, totaling $192,345,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $107,450 (2.5%) $126,508 (-5.2%) 0.00 322
2018-02-01 $109,700 (3.5%) $128,522 (-3.5%) 0.00 312
2018-03-01 $109,900 (3.7%) $132,943 (-0.5%) 0.00 307
2018-04-01 $112,400 (-2.2%) $136,036 (1.1%) 0.00 292
2018-05-01 $116,250 (0.2%) $140,694 (1.8%) 0.00 295
2018-06-01 $119,900 (8.0%) $144,314 (6.6%) 0.00 310
2018-07-01 $119,900 (0.8%) $151,423 (8.4%) 0.00 327
2018-08-01 $119,900 (10.3%) $158,560 (14.8%) 0.00 339
2018-09-01 $119,900 (6.6%) $162,381 (17.4%) 0.00 341
2018-10-01 $123,000 (7.0%) $170,034 (23.5%) 0.00 326
2018-11-01 $125,450 (12.8%) $173,287 (29.9%) 0.00 304
2018-12-01 $120,000 (11.5%) $166,386 (29.1%) 0.00 278
2019-01-01 $120,950 (12.6%) $165,735 (31.0%) 0.00 257
2019-02-01 $119,950 (9.3%) $168,069 (30.8%) 0.00 228
2019-03-01 $124,229 (13.0%) $173,433 (30.5%) 0.00 220
2019-04-01 $132,500 (17.9%) $177,696 (30.6%) 0.00 229
2019-05-01 $129,950 (11.8%) $173,034 (23.0%) 0.00 242
2019-06-01 $129,900 (8.3%) $170,968 (18.5%) 0.00 244
2019-07-01 $125,000 (4.3%) $160,218 (5.8%) 0.00 243
2019-08-01 $127,100 (6.0%) $161,185 (1.7%) 0.00 269
2019-09-01 $127,050 (6.0%) $162,315 (0.0%) 0.00 288
2019-10-01 $122,400 (-0.5%) $159,384 (-6.3%) 0.00 297
2019-11-01 $117,000 (-6.7%) $159,017 (-8.2%) 0.00 294
2019-12-01 $99,950 (-16.7%) $157,709 (-5.2%) 0.00 268
2020-01-01 $105,000 (-13.2%) $156,703 (-5.5%) 0.00 254
2020-02-01 $99,000 (-17.5%) $161,305 (-4.0%) 0.00 229
2020-03-01 $109,900 (-11.5%) $173,225 (-0.1%) 0.00 224
2020-04-01 $119,200 (-10.0%) $178,229 (0.3%) 0.00 203
2020-05-01 $129,900 (0.0%) $188,089 (8.7%) 0.00 196
2020-06-01 $132,900 (2.3%) $193,607 (13.2%) 0.00 175
2020-07-01 $143,450 (14.8%) $195,222 (21.9%) 0.00 175
2020-08-01 $139,900 (10.1%) $199,390 (23.7%) 0.00 161
2020-09-01 $128,450 (1.1%) $197,047 (21.4%) 0.00 147
2020-10-01 $127,500 (4.2%) $197,105 (23.7%) 0.00 142
2020-11-01 $129,450 (10.6%) $211,984 (33.3%) 0.00 138
2020-12-01 $126,850 (26.9%) $197,379 (25.2%) 0.00 134
2021-01-01 $109,900 (4.7%) $185,967 (18.7%) 0.00 117
2021-02-01 $114,000 (15.2%) $188,816 (17.1%) 0.00 112
2021-03-01 $119,950 (9.1%) $198,582 (14.6%) 0.00 108
2021-04-01 $136,950 (14.9%) $210,377 (18.0%) 0.00 110
2021-05-01 $135,000 (3.9%) $198,286 (5.4%) 0.00 120
2021-06-01 $136,400 (2.6%) $196,762 (1.6%) 0.00 131
2021-07-01 $135,700 (-5.4%) $190,171 (-2.6%) 0.00 143
2021-08-01 $146,250 (4.5%) $199,033 (-0.2%) 0.00 164
2021-09-01 $137,600 (7.1%) $193,659 (-1.7%) 0.00 166
2021-10-01 $129,900 (1.9%) $188,170 (-4.5%) 0.00 173
2021-11-01 $137,000 (5.8%) $194,811 (-8.1%) 0.00 158
2021-12-01 $125,450 (-1.1%) $185,364 (-6.1%) 0.00 147
2022-01-01 $117,900 (7.3%) $190,723 (2.6%) 0.00 127
2022-02-01 $124,900 (9.6%) $190,147 (0.7%) 0.00 109
2022-03-01 $120,000 (0.0%) $180,804 (-9.0%) 0.00 105
2022-04-01 $157,000 (14.6%) $204,308 (-2.9%) 0.00 91
2022-05-01 $173,950 (28.9%) $231,472 (16.7%) 0.00 101
Salem's median listing price for 2022-05-01 was $173,950, a difference of $38,950 (28.9%) versus the prior year and $16,950 versus the prior month.

Salem's median listing price comes in at 0% of the national average.

Salem's average listing price for 2022-05-01 was $231,472, a difference of $33,186 (16.7%) versus the prior year and $27,164 versus the prior month.

For the 2022-05-01 period, Salem had 101 MLS listings, a difference of 10 listings (11%) versus the prior month and -19 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,458 sqft
2018-02-01 0 days 1,454 sqft
2018-03-01 0 days 1,500 sqft
2018-04-01 0 days 1,512 sqft
2018-05-01 0 days 1,522 sqft
2018-06-01 0 days 1,530 sqft
2018-07-01 0 days 1,642 sqft
2018-08-01 0 days 1,608 sqft
2018-09-01 0 days 1,642 sqft
2018-10-01 0 days 1,730 sqft
2018-11-01 0 days 1,732 sqft
2018-12-01 0 days 1,664 sqft
2019-01-01 0 days 1,622 sqft
2019-02-01 0 days 1,670 sqft
2019-03-01 0 days 1,682 sqft
2019-04-01 0 days 1,678 sqft
2019-05-01 0 days 1,595 sqft
2019-06-01 0 days 1,617 sqft
2019-07-01 0 days 1,613 sqft
2019-08-01 0 days 1,625 sqft
2019-09-01 0 days 1,637 sqft
2019-10-01 0 days 1,632 sqft
2019-11-01 0 days 1,632 sqft
2019-12-01 0 days 1,626 sqft
2020-01-01 0 days 1,617 sqft
2020-02-01 0 days 1,598 sqft
2020-03-01 0 days 1,598 sqft
2020-04-01 0 days 1,606 sqft
2020-05-01 0 days 1,657 sqft
2020-06-01 0 days 1,628 sqft
2020-07-01 0 days 1,685 sqft
2020-08-01 0 days 1,644 sqft
2020-09-01 0 days 1,632 sqft
2020-10-01 0 days 1,624 sqft
2020-11-01 0 days 1,624 sqft
2020-12-01 0 days 1,549 sqft
2021-01-01 0 days 1,540 sqft
2021-02-01 0 days 1,520 sqft
2021-03-01 0 days 1,596 sqft
2021-04-01 0 days 1,596 sqft
2021-05-01 0 days 1,584 sqft
2021-06-01 0 days 1,556 sqft
2021-07-01 0 days 1,574 sqft
2021-08-01 0 days 1,594 sqft
2021-09-01 0 days 1,548 sqft
2021-10-01 0 days 1,508 sqft
2021-11-01 0 days 1,516 sqft
2021-12-01 0 days 1,503 sqft
2022-01-01 0 days 1,464 sqft
2022-02-01 0 days 1,488 sqft
2022-03-01 0 days 1,455 sqft
2022-04-01 0 days 1,537 sqft
2022-05-01 0 days 1,512 sqft
Salem's median listing age (time on market) for 2022-05-01 was 0 days.

Salem's median square footage for active listings during the 2022-05-01 period was 1,512 sqft. One year prior, the average listing was 1,584 sqft.