Selma Mortgage Rates

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  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Loan Attributes
  • Market Conditions & Pricing
  • Time on Market/Property Size
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Selma averaged 6.15% 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 6.12% and one month ago for the week of 2022-05-19, the average rate was 5.69%.

    Selma's average rate one year ago was 3.28%.

    For refis of the same type during the week of 2022-06-23, the average rate was 6.27%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-23 5.81%
    Selma 30 Year Fixed Rate 2022-06-23 6.15%
    Selma 30 Year Fixed Rate Refi 2022-06-23 6.27%
    Selma 15 Year Fixed Rate 2022-06-23 6.63%
    Selma 15 Year Fixed Rate Refi 2022-06-23 5.2%
    Selma 30 Year FHA 2022-06-23 -0.03%
    Selma 30 Year FHA Refi 2022-06-23 -0.43%
    Selma 30 Year USDA 2022-06-23 0.11%
    Selma 30 Year VA 2022-06-23 0.58%
    Selma 30 Year VA Refi 2022-06-23 -0.21%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Selma, AL.

    Selma 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 Selma, AL 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
    QUICKEN LOANS, LLC 22 3.24% $4,784
    Trustmark National Bank 14 3.20% $3,174
    Regions Bank 10 3.11% $2,657
    Hamilton Mortgage Corporation 8 3.05% $4,143
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.98% $5,026
    UNITED WHOLESALE MORTGAGE, LLC 4 2.84% $5,827
    Wells Fargo Bank 3 3.63% $1,989
    LOANDEPOT.COM, LLC 3 3.38% $4,923
    FirstBank 3 3.91% $3,399
    TJC Mortgage, Inc. 3 2.92% $4,323
    GMFS LLC 3 2.75% $4,653
    CROSSCOUNTRY MORTGAGE, LLC 2 3.00% $3,448
    HOME POINT FINANCIAL CORPORATION 2 3.19% $5,250
    Consumer First Mortgage, Inc. 2 2.88% $4,117
    CMG MORTGAGE, INC. 2 3.19% $4,283
    RUOFF MORTGAGE COMPANY, INC. 1 2.88% $2,512
    ServisFirst Bank 1 3.49% $2,565
    Simmons Bank 1 3.13% $2,913
    SWBC MORTGAGE CORPORATION 1 3.13% $4,561
    MAX Credit Union 1 3.25% $2,841
    BROKER SOLUTIONS, INC. 1 4.13% $4,714
    CALIBER HOME LOANS, INC. 1 3.38% $2,518
    Citizens Bank 1 2.75% $2,175
    FREEDOM MORTGAGE CORPORATION 1 2.38% $3,672
    Hometown Lenders, Inc. 1 3.00% $3,978
    JPMorgan Chase Bank 1 3.13% $500
    Liberty Mortgage Corporation 1 2.88% $1,545
    BETTER MORTGAGE CORPORATION 1 3.13% $4,002
    MICHIGAN MUTUAL, INC. 1 3.13% $1,515
    Mr. Cooper ( Nationstar Mortgage ) 1 3.63% $4,093
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.87% $2,806
    NAVY FEDERAL CREDIT UNION 1 3.50% $1,632
    NFM, INC. 1 3.13% $3,308
    ROYAL UNITED MORTGAGE LLC 1 4.13% $5,040

    Selma, AL's 34 lenders originated 465 loans during 2021. The total origination value was $59,995,000, with an average loan value of $129,022.

    The top Selma lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 loans originated. Their average total fees are $4,784, which is $1,610 higher than the next largest lender, Trustmark National Bank.

    The lowest fee Selma lenders (with over 10 loans originated) are Regions Bank ($2,657), Trustmark National Bank ($3,174), QUICKEN LOANS, LLC ($4,784), .

    The lowest rate Selma lenders (with over 10 loans originated) are Regions Bank (3.11%), Trustmark National Bank (3.20%), QUICKEN LOANS, LLC (3.24%), .

    Selma, AL 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
    QUICKEN LOANS, LLC $7,055,000 $8,750,000 24.0% 14.6%
    Trustmark National Bank $9,860,000 $6,460,000 -34.5% 10.8%
    Regions Bank $1,545,000 $4,190,000 171.2% 7.0%
    FREEDOM MORTGAGE CORPORATION $3,420,000 $2,340,000 -31.6% 3.9%
    CROSSCOUNTRY MORTGAGE, LLC $2,065,000 $2,245,000 8.7% 3.7%
    Hamilton Mortgage Corporation $2,390,000 $2,190,000 -8.4% 3.7%
    UNITED WHOLESALE MORTGAGE, LLC $445,000 $2,010,000 351.7% 3.4%
    Mortgage Research Center, LLC $985,000 $1,605,000 62.9% 2.7%
    Wells Fargo Bank $490,000 $1,550,000 216.3% 2.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,045,000 $1,485,000 42.1% 2.5%
    21ST MORTGAGE CORPORATION $1,385,000 $1,265,000 -8.7% 2.1%
    GUILD MORTGAGE COMPANY $940,000 $1,115,000 18.6% 1.9%
    CMG MORTGAGE, INC. $1,385,000 $1,065,000 -23.1% 1.8%
    LOANDEPOT.COM, LLC $1,030,000 $1,055,000 2.4% 1.8%
    FirstBank $425,000 $1,015,000 138.8% 1.7%
    NAVY FEDERAL CREDIT UNION $610,000 $1,010,000 65.6% 1.7%
    GMFS LLC $620,000 $980,000 58.1% 1.6%
    Northpointe Bank $95,000 $965,000 915.8% 1.6%
    Guardian Credit Union $155,000 $935,000 503.2% 1.6%
    MUTUAL OF OMAHA MORTGAGE, INC. $770,000 n/a 1.3%
    TJC Mortgage, Inc. $245,000 $750,000 206.1% 1.3%
    SouthPoint Bank $430,000 $645,000 50.0% 1.1%
    TRIAD FINANCIAL SERVICES, INC. $635,000 n/a 1.1%
    PENNYMAC LOAN SERVICES, LLC $1,220,000 $610,000 -50.0% 1.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $985,000 $600,000 -39.1% 1.0%
    Hometown Lenders, Inc. $195,000 $575,000 194.9% 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $1,195,000 $530,000 -55.6% 0.9%
    Mutual Savings Credit Union $920,000 $475,000 -48.4% 0.8%
    Flagstar Bank, FSB $455,000 n/a 0.8%
    PNC Bank $300,000 $455,000 51.7% 0.8%
    MAX Credit Union $315,000 $435,000 38.1% 0.7%
    BROKER SOLUTIONS, INC. $255,000 $420,000 64.7% 0.7%
    NP, Inc. $410,000 n/a 0.7%
    Consumer First Mortgage, Inc. $475,000 $395,000 -16.8% 0.7%
    NFM, INC. $385,000 n/a 0.6%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $380,000 n/a 0.6%
    LAKEVIEW LOAN SERVICING, LLC $325,000 $370,000 13.8% 0.6%
    RELIANCE FIRST CAPITAL, LLC $245,000 $350,000 42.9% 0.6%
    SWBC MORTGAGE CORPORATION $345,000 n/a 0.6%
    Carrington Mortgage Services, LLC $395,000 $330,000 -16.5% 0.6%
    HOME POINT FINANCIAL CORPORATION $125,000 $320,000 156.0% 0.5%
    ALABAMA STATE EMPLOYEES CREDIT UNION $115,000 $300,000 160.9% 0.5%
    Citizens Bank $200,000 $300,000 50.0% 0.5%
    SUN WEST MORTGAGE COMPANY, INC. $295,000 n/a 0.5%
    GSF Mortgage Corporation $430,000 $285,000 -33.7% 0.5%
    INTERLINC MORTGAGE SERVICES, LLC $875,000 $285,000 -67.4% 0.5%
    Merchants & Marine Bank $265,000 n/a 0.4%
    NEWREZ LLC $585,000 $260,000 -55.6% 0.4%
    APCO EMPLOYEES $155,000 $255,000 64.5% 0.4%
    Low VA Rates, LLC $75,000 $225,000 200.0% 0.4%
    AMERISAVE MORTGAGE CORPORATION $125,000 $220,000 76.0% 0.4%
    Barrington Bank & Trust Company, N.A. $250,000 $220,000 -12.0% 0.4%
    NEW DAY FINANCIAL, LLC $135,000 $220,000 63.0% 0.4%
    Simmons Bank $215,000 n/a 0.4%
    CALIBER HOME LOANS, INC. $445,000 $180,000 -59.6% 0.3%
    VILLAGE CAPITAL & INVESTMENT LLC $180,000 n/a 0.3%
    Renasant Bank $525,000 $175,000 -66.7% 0.3%
    JPMorgan Chase Bank $170,000 n/a 0.3%
    Community Bank of Mississippi $75,000 $160,000 113.3% 0.3%
    BETTER MORTGAGE CORPORATION $145,000 n/a 0.2%
    HOMETRUST MORTGAGE COMPANY $145,000 n/a 0.2%
    STEARNS LENDING, LLC $85,000 $145,000 70.6% 0.2%
    Liberty Mortgage Corporation $2,140,000 $135,000 -93.7% 0.2%
    TEMPLE VIEW CAPITAL FUNDING, LP $280,000 $135,000 -51.8% 0.2%
    Reliant Bank $130,000 n/a 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $155,000 $125,000 -19.4% 0.2%
    First Federal Bank, A FSB $125,000 n/a 0.2%
    InterContinental Capital Group, Inc $125,000 n/a 0.2%
    MICHIGAN MUTUAL, INC. $205,000 $125,000 -39.0% 0.2%
    ROYAL UNITED MORTGAGE LLC $160,000 $120,000 -25.0% 0.2%
    BancorpSouth Bank $115,000 n/a 0.2%
    LIMA ONE CAPITAL, LLC $115,000 n/a 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $105,000 n/a 0.2%
    USAA Federal Savings Bank $170,000 $105,000 -38.2% 0.2%
    MOVEMENT MORTGAGE, LLC $95,000 n/a 0.2%
    GENEVA FINANCIAL, LLC $85,000 n/a 0.1%
    HOMESTAR FINANCIAL CORPORATION $85,000 n/a 0.1%
    Peoples Bank $85,000 n/a 0.1%
    RUOFF MORTGAGE COMPANY, INC. $85,000 n/a 0.1%
    FIDELITY BANK $75,000 n/a 0.1%
    FIRST COMMUNITY MORTGAGE, INC. $320,000 $75,000 -76.6% 0.1%
    LEADERONE FINANCIAL CORPORATION $185,000 $75,000 -59.5% 0.1%
    Manufacturers and Traders Trust Company $75,000 n/a 0.1%
    ALABAMA CREDIT UNION $65,000 n/a 0.1%
    CREDIT HUMAN FEDERAL CREDIT UNION $65,000 n/a 0.1%
    Nations Lending Corporation $65,000 n/a 0.1%
    NATIONWIDE MORTGAGE BANKERS, INC. $55,000 n/a 0.1%
    ServisFirst Bank $35,000 n/a 0.1%

    Selma's top lender by overall market share is QUICKEN LOANS, LLC, with 14.6% market share. In second place, with 10.8%, is Trustmark National Bank, having originated $6,460,000 in loans. In third place, with 7.0%, is Regions Bank, having originated $4,190,000 in loans. In third place, with 3.9%, is FREEDOM MORTGAGE CORPORATION, having originated $2,340,000 in loans. In third place, with 3.7%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $2,245,000 in loans.

    Selma, AL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 217 $29,175,000 $134,447
    Refi 164 $20,380,000 $124,268
    Cash Out Refi 56 $8,250,000 $147,321
    Other 17 $1,605,000 $94,412
    Home Improvement 11 $585,000 $53,182

    Selma's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Refi, with 164 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 150 $19,520,000 $130,133
    2.5-3% 149 $22,115,000 $148,423
    <2.5% 89 $12,045,000 $135,337
    4-5% 23 $1,965,000 $85,435
    Over 8% 17 $1,345,000 $79,118
    5-6% 15 $995,000 $66,333
    6-7% 7 $745,000 $106,429
    7-8% 7 $525,000 $75,000

    During 2021, Selma's most frequently originated rate bucket was 3-4%, with 150 originations.

    Loan Sizing (Selma, AL MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 193 $27,335,000 $141,632
    $100,000 or less 192 $12,860,000 $66,979
    $200k-400k 80 $19,800,000 $247,500

    Selma's loan sizing saw the bucket of loans from $100k-200k with 193 originations, totaling $27,335,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 253 $35,325,000 $139,625
    60-80% 124 $16,590,000 $133,790
    40-60% 23 $2,385,000 $103,696
    20-40% 22 $1,380,000 $62,727
    Under 20% 11 $245,000 $22,273
    Over 100% 5 $745,000 $149,000

    Selma's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 253 originations, totaling $35,325,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Selma (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 $88,500 (-10.8%) $124,712 (-8.6%) 0.00 191
    2018-02-01 $87,500 (-14.7%) $120,929 (-13.7%) 0.00 199
    2018-03-01 $87,500 (-5.5%) $119,920 (-11.3%) 0.00 206
    2018-04-01 $87,750 (-2.5%) $120,415 (-6.0%) 0.00 211
    2018-05-01 $87,500 (-7.8%) $123,761 (-6.5%) 0.00 210
    2018-06-01 $87,500 (-11.4%) $124,605 (-8.4%) 0.00 201
    2018-07-01 $87,500 (-11.2%) $125,399 (-5.8%) 0.00 202
    2018-08-01 $88,250 (-1.9%) $126,507 (0.8%) 0.00 199
    2018-09-01 $90,000 (0.0%) $127,698 (0.9%) 0.00 197
    2018-10-01 $91,000 (-4.2%) $132,487 (1.2%) 0.00 186
    2018-11-01 $91,000 (-4.2%) $127,710 (-3.2%) 0.00 185
    2018-12-01 $91,000 (-1.1%) $123,768 (-5.0%) 0.00 179
    2019-01-01 $91,500 (3.4%) $121,287 (-2.8%) 0.00 174
    2019-02-01 $99,450 (13.7%) $127,094 (5.1%) 0.00 187
    2019-03-01 $103,800 (18.6%) $130,642 (8.9%) 0.00 192
    2019-04-01 $109,000 (24.2%) $131,904 (9.5%) 0.00 184
    2019-05-01 $109,000 (24.6%) $135,472 (9.5%) 0.00 173
    2019-06-01 $99,900 (14.2%) $135,128 (8.5%) 0.00 177
    2019-07-01 $99,500 (13.7%) $137,371 (9.6%) 0.00 185
    2019-08-01 $99,286 (12.5%) $134,709 (6.5%) 0.00 184
    2019-09-01 $99,000 (10.0%) $132,104 (3.5%) 0.00 182
    2019-10-01 $99,000 (8.8%) $130,178 (-1.7%) 0.00 182
    2019-11-01 $100,000 (9.9%) $130,348 (2.1%) 0.00 184
    2019-12-01 $98,250 (8.0%) $124,155 (0.3%) 0.00 188
    2020-01-01 $95,200 (4.0%) $119,535 (-1.5%) 0.00 174
    2020-02-01 $92,000 (-7.5%) $116,465 (-8.4%) 0.00 166
    2020-03-01 $91,500 (-11.9%) $114,765 (-12.2%) 0.00 167
    2020-04-01 $90,000 (-17.4%) $114,696 (-13.1%) 0.00 158
    2020-05-01 $89,000 (-18.4%) $117,894 (-13.0%) 0.00 155
    2020-06-01 $90,000 (-9.9%) $112,879 (-16.5%) 0.00 144
    2020-07-01 $91,500 (-8.0%) $120,497 (-12.3%) 0.00 130
    2020-08-01 $94,500 (-4.8%) $124,436 (-7.6%) 0.00 120
    2020-09-01 $99,000 (0.0%) $126,483 (-4.3%) 0.00 120
    2020-10-01 $102,900 (3.9%) $131,715 (1.2%) 0.00 125
    2020-11-01 $95,000 (-5.0%) $126,141 (-3.2%) 0.00 118
    2020-12-01 $99,250 (1.0%) $129,185 (4.1%) 0.00 103
    2021-01-01 $99,500 (4.5%) $127,138 (6.4%) 0.00 95
    2021-02-01 $101,500 (10.3%) $127,721 (9.7%) 0.00 96
    2021-03-01 $108,500 (18.6%) $127,373 (11.0%) 0.00 85
    2021-04-01 $119,450 (32.7%) $136,891 (19.4%) 0.00 74
    2021-05-01 $118,900 (33.6%) $137,037 (16.2%) 0.00 80
    2021-06-01 $88,450 (-1.7%) $134,677 (19.3%) 0.00 87
    2021-07-01 $104,000 (13.7%) $139,597 (15.9%) 0.00 81
    2021-08-01 $95,000 (0.5%) $127,878 (2.8%) 0.00 90
    2021-09-01 $94,900 (-4.1%) $127,999 (1.2%) 0.00 94
    2021-10-01 $89,500 (-13.0%) $117,677 (-10.7%) 0.00 88
    2021-11-01 $81,250 (-14.5%) $112,067 (-11.2%) 0.00 82
    2021-12-01 $79,900 (-19.5%) $102,666 (-20.5%) 0.00 83
    2022-01-01 $72,900 (-26.7%) $107,089 (-15.8%) 0.00 75
    2022-02-01 $72,500 (-28.6%) $116,174 (-9.0%) 0.00 70
    2022-03-01 $95,500 (-12.0%) $126,245 (-0.9%) 0.00 63
    2022-04-01 $80,000 (-33.0%) $123,871 (-9.5%) 0.00 65
    2022-05-01 $79,950 (-32.8%) $122,042 (-10.9%) 0.00 62
    Selma's median listing price for 2022-05-01 was $79,950, a difference of $-38,950 (-32.8%) versus the prior year and $-50 versus the prior month.

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

    Selma's average listing price for 2022-05-01 was $122,042, a difference of $-14,995 (-10.9%) versus the prior year and $-1,829 versus the prior month.

    For the 2022-05-01 period, Selma had 62 MLS listings, a difference of -3 listings (-5%) versus the prior month and -18 listings (-23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Selma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,810 sqft
    2018-02-01 0 days 1,770 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,810 sqft
    2018-05-01 0 days 1,812 sqft
    2018-06-01 0 days 1,808 sqft
    2018-07-01 0 days 1,764 sqft
    2018-08-01 0 days 1,812 sqft
    2018-09-01 0 days 1,812 sqft
    2018-10-01 0 days 1,895 sqft
    2018-11-01 0 days 1,858 sqft
    2018-12-01 0 days 1,852 sqft
    2019-01-01 0 days 1,872 sqft
    2019-02-01 0 days 1,899 sqft
    2019-03-01 0 days 1,885 sqft
    2019-04-01 0 days 1,884 sqft
    2019-05-01 0 days 1,898 sqft
    2019-06-01 0 days 1,898 sqft
    2019-07-01 0 days 1,865 sqft
    2019-08-01 0 days 1,873 sqft
    2019-09-01 0 days 1,870 sqft
    2019-10-01 0 days 1,873 sqft
    2019-11-01 0 days 1,858 sqft
    2019-12-01 0 days 1,840 sqft
    2020-01-01 0 days 1,818 sqft
    2020-02-01 0 days 1,746 sqft
    2020-03-01 0 days 1,732 sqft
    2020-04-01 0 days 1,734 sqft
    2020-05-01 0 days 1,772 sqft
    2020-06-01 0 days 1,797 sqft
    2020-07-01 0 days 1,910 sqft
    2020-08-01 0 days 1,905 sqft
    2020-09-01 0 days 1,909 sqft
    2020-10-01 0 days 1,957 sqft
    2020-11-01 0 days 1,915 sqft
    2020-12-01 0 days 1,907 sqft
    2021-01-01 0 days 1,887 sqft
    2021-02-01 0 days 1,861 sqft
    2021-03-01 0 days 1,873 sqft
    2021-04-01 0 days 1,884 sqft
    2021-05-01 0 days 1,866 sqft
    2021-06-01 0 days 1,877 sqft
    2021-07-01 0 days 1,884 sqft
    2021-08-01 0 days 1,872 sqft
    2021-09-01 0 days 1,887 sqft
    2021-10-01 0 days 1,872 sqft
    2021-11-01 0 days 1,845 sqft
    2021-12-01 0 days 1,816 sqft
    2022-01-01 0 days 1,845 sqft
    2022-02-01 0 days 1,834 sqft
    2022-03-01 0 days 1,795 sqft
    2022-04-01 0 days 1,869 sqft
    2022-05-01 0 days 1,782 sqft
    Selma's median listing age (time on market) for 2022-05-01 was 0 days.

    Selma's median square footage for active listings during the 2022-05-01 period was 1,782 sqft. One year prior, the average listing was 1,866 sqft.