Somerset Mortgage Rates

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

30 Year Fixed Rate mortgages in Somerset averaged 6.17% 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 5.74% and one month ago for the week of 2022-05-19, the average rate was 5.61%.

Somerset's average rate one year ago was 3.12%.

For refis of the same type during the week of 2022-06-23, the average rate was 5.63%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Somerset 30 Year Fixed Rate 2022-06-23 6.17%
Somerset 30 Year Fixed Rate Refi 2022-06-23 5.63%
Somerset 15 Year Fixed Rate 2022-06-23 5.49%
Somerset 15 Year Fixed Rate Refi 2022-06-23 5.41%
Somerset 30 Year FHA 2022-06-23 0.2%
Somerset 30 Year FHA Refi 2022-06-23 0.08%
Somerset 30 Year USDA 2022-06-23 -0.09%
Somerset 30 Year USDA Refi 2022-06-23 -0.39%
Somerset 30 Year VA 2022-06-23 0.44%
Somerset 30 Year VA Refi 2022-06-23 0.02%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Somerset, PA.

Somerset 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 Somerset, PA 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
SOMERSET TRUST COMPANY 74 3.31% $3,327
QUICKEN LOANS, LLC 37 3.05% $5,221
First Commonwealth Bank 36 3.22% $3,915
First National Bank of Pennsylvania 29 2.89% $4,126
Wells Fargo Bank 28 3.16% $4,010
AFFORDABLE MORTGAGE ADVISORS, LLC. 23 3.07% $4,825
FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION 21 3.20% $4,205
PNC Bank 18 2.99% $4,492
PRIMELENDING, A PLAINSCAPITAL COMPANY 17 3.46% $4,156
Citizens Bank 13 3.06% $5,151
UNITED WHOLESALE MORTGAGE, LLC 11 3.09% $5,714
HOWARD HANNA FINANCIAL SERVICES, INC. 10 3.20% $3,976
Dollar Bank, Federal Savings Bank 8 2.87% $4,843
AmeriServ Financial Bank 8 2.75% $3,302
Victorian Finance, LLC 8 3.05% $5,495
EQUITY RESOURCES, INC. 8 3.00% $3,987
LOANDEPOT.COM, LLC 7 3.12% $4,575
Sail Mortgage Corp. 7 2.68% $4,759
GUARANTEED RATE AFFINITY, LLC 7 3.21% $4,877
JPMorgan Chase Bank 6 3.04% $3,431
GUARANTEED RATE, INC. 5 3.20% $4,761
Northwest Bank 5 2.93% $4,073
PENNSYLVANIA STATE EMPLOYEES Credit Union 5 3.08% $2,113
NORWICH COMMERCIAL GROUP, INC. 4 3.59% $6,180
InFirst Bank 4 3.50% $2,315
WesBanco Bank, Inc. 4 3.09% $4,538
NEWREZ LLC 4 3.34% $6,157
CROSSCOUNTRY MORTGAGE, LLC 4 3.19% $9,355
BETTER MORTGAGE CORPORATION 3 2.75% $5,143
Flagstar Bank, FSB 3 3.21% $4,366
S&T Bank 3 3.21% $4,502
Morgan Stanley Private Bank 3 2.42% $6,454
UNION HOME MORTGAGE CORP. 3 3.63% $5,572
PROVIDENT FUNDING ASSOCIATES, L.P. 2 2.75% $4,288
AMERISAVE MORTGAGE CORPORATION 2 3.31% $5,224
Standard Bank, PaSB 2 3.00% $5,105
The Huntington National Bank 2 3.00% $2,257
Mr. Cooper ( Nationstar Mortgage ) 2 3.00% $5,731
Truist Bank 2 3.19% $4,208
BROKER SOLUTIONS, INC. 2 3.31% $7,037
Fifth Third Bank 2 2.93% $5,492
MOVEMENT MORTGAGE, LLC 2 3.25% $4,542
Bank of America 2 3.06% $5,638
KeyBank 2 2.88% $5,163
United Bank 1 3.50% $5,302
UNITED MORTGAGE CORP. 1 3.38% $4,456
U.S. Bank 1 2.99% $3,479
WEST PENN FINANCIAL SERVICE CENTER, INC. 1 2.75% $4,078
ZILLOW HOME LOANS, LLC 1 3.63% $0
AMERICAN FINANCING CORPORATION 1 2.88% $3,790
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.88% $4,365
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 6.50% $7,430
Axos Bank 1 2.99% $4,292
Bank Independent 1 2.88% $4,078
Bank of England 1 3.25% $4,092
Capital Bank 1 2.88% $3,754
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.38% $3,003
City National Bank 1 2.11% $11,556
Clear Mountain Bank 1 3.25% $4,484
CMG MORTGAGE, INC. 1 3.50% $4,947
CNB Bank 1 2.75% $3,408
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.75% $5,314
DRAPER AND KRAMER MORTGAGE CORP. 1 2.88% $3,811
EMBRACE HOME LOANS, INC. 1 2.75% $5,966
ENVOY MORTGAGE, LTD 1 3.13% $6,250
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.88% $3,468
First Citizens Community Bank 1 3.00% $3,877
First Federal Bank of the Midwest 1 2.75% $3,891
FIRST HOME MORTGAGE CORPORATION 1 3.50% $6,646
FREEDOM MORTGAGE CORPORATION 1 3.50% $10,711
George Mason Mortgage, LLC 1 2.99% $4,702
HOME POINT FINANCIAL CORPORATION 1 3.88% $1,329
HOMESPIRE MORTGAGE CORPORATION 1 3.25% $5,198
INTERCOASTAL MORTGAGE COMPANY 1 3.63% $5,589
InterContinental Capital Group, Inc 1 2.88% $5,743
Jersey Shore State Bank 1 3.75% $5,633
MCLEAN MORTGAGE CORPORATION 1 3.75% $4,137
Mid Penn Bank 1 3.75% $8,050
MILLENNIUM FINANCIAL GROUP, INC. 1 3.38% $3,470
Mortgage Research Center, LLC 1 2.38% $4,411
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $3,630
NATIONS RELIABLE LENDING, LLC 1 2.88% $4,808
NAVY FEDERAL CREDIT UNION 1 2.88% $2,922
North American Savings Bank, F.S.B. 1 2.75% $4,704
PENNYMAC LOAN SERVICES, LLC 1 2.75% $3,293
PLAZA HOME MORTGAGE, INC. 1 2.49% $6,574
Reliance Savings Bank 1 2.88% $5,407
RESIDENTIAL BANCORP. 1 2.75% $3,946
RUOFF MORTGAGE COMPANY, INC. 1 2.75% $2,986
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 3.13% $2,969
THRIVENT Federal Credit Union 1 3.13% $3,487
Towne Bank 1 3.38% $7,026

Somerset, PA's 92 lenders originated 2,015 loans during 2021. The total origination value was $277,625,000, with an average loan value of $137,779.

The top Somerset lender as defined by loan originations is SOMERSET TRUST COMPANY, with 74 loans originated. Their average total fees are $3,327, which is $1,894 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Somerset lenders (with over 10 loans originated) are SOMERSET TRUST COMPANY ($3,327), First Commonwealth Bank ($3,915), HOWARD HANNA FINANCIAL SERVICES, INC. ($3,976), Wells Fargo Bank ($4,010) and First National Bank of Pennsylvania ($4,126).

The lowest rate Somerset lenders (with over 10 loans originated) are First National Bank of Pennsylvania (2.89%), PNC Bank (2.99%), QUICKEN LOANS, LLC (3.05%), Citizens Bank (3.06%) and AFFORDABLE MORTGAGE ADVISORS, LLC. (3.07%).

Somerset, PA 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
SOMERSET TRUST COMPANY $61,070,000 $42,350,000 -30.7% 15.3%
First National Bank of Pennsylvania $22,440,000 $20,350,000 -9.3% 7.3%
First Commonwealth Bank $19,210,000 $18,660,000 -2.9% 6.7%
QUICKEN LOANS, LLC $13,775,000 $18,575,000 34.8% 6.7%
1st Summit Bank $11,290,000 $12,410,000 9.9% 4.5%
FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION $11,580,000 $12,130,000 4.7% 4.4%
Wells Fargo Bank $10,585,000 $11,220,000 6.0% 4.0%
PNC Bank $7,940,000 $8,950,000 12.7% 3.2%
AFFORDABLE MORTGAGE ADVISORS, LLC. $10,495,000 $7,600,000 -27.6% 2.7%
PRIMELENDING, A PLAINSCAPITAL COMPANY $5,780,000 $6,680,000 15.6% 2.4%
Dollar Bank, Federal Savings Bank $3,215,000 $6,035,000 87.7% 2.2%
Slovenian Savings & Loan Association of Franklin-Conemaugh $6,245,000 $4,985,000 -20.2% 1.8%
Brentwood Bank $330,000 $4,775,000 1,347.0% 1.7%
Citizens Bank $5,765,000 $4,700,000 -18.5% 1.7%
UNITED WHOLESALE MORTGAGE, LLC $1,865,000 $4,570,000 145.0% 1.6%
FREEDOM MORTGAGE CORPORATION $3,610,000 $3,685,000 2.1% 1.3%
AmeriServ Financial Bank $3,750,000 $2,880,000 -23.2% 1.0%
Mortgage Research Center, LLC $2,850,000 $2,370,000 -16.8% 0.9%
S&T Bank $1,245,000 $2,340,000 88.0% 0.8%
Wayne Bank $2,295,000 n/a 0.8%
GUARANTEED RATE AFFINITY, LLC $310,000 $2,250,000 625.8% 0.8%
HOWARD HANNA FINANCIAL SERVICES, INC. $870,000 $2,095,000 140.8% 0.8%
Morgan Stanley Private Bank $2,055,000 n/a 0.7%
JPMorgan Chase Bank $240,000 $1,920,000 700.0% 0.7%
NEWREZ LLC $445,000 $1,915,000 330.3% 0.7%
EQUITY RESOURCES, INC. $1,870,000 $1,900,000 1.6% 0.7%
InFirst Bank $1,955,000 $1,885,000 -3.6% 0.7%
Northwest Bank $2,060,000 $1,760,000 -14.6% 0.6%
Victorian Finance, LLC $1,045,000 $1,645,000 57.4% 0.6%
LOANDEPOT.COM, LLC $1,595,000 $1,595,000 0.0% 0.6%
PENNSYLVANIA STATE EMPLOYEES Credit Union $1,320,000 $1,565,000 18.6% 0.6%
PENNYMAC LOAN SERVICES, LLC $635,000 $1,565,000 146.5% 0.6%
The Huntington National Bank $690,000 $1,510,000 118.8% 0.5%
NAVY FEDERAL CREDIT UNION $895,000 $1,490,000 66.5% 0.5%
Sail Mortgage Corp. $615,000 $1,365,000 122.0% 0.5%
CROSSCOUNTRY MORTGAGE, LLC $275,000 $1,345,000 389.1% 0.5%
GUARANTEED RATE, INC. $815,000 $1,345,000 65.0% 0.5%
BROKER SOLUTIONS, INC. $845,000 $1,330,000 57.4% 0.5%
HOME POINT FINANCIAL CORPORATION $300,000 $1,230,000 310.0% 0.4%
AMERISAVE MORTGAGE CORPORATION $530,000 $1,200,000 126.4% 0.4%
PENTAGON FEDERAL CREDIT UNION $65,000 $1,185,000 1,723.1% 0.4%
C-B-W Schools Federal Credit Union $940,000 $1,150,000 22.3% 0.4%
AMERICAN FINANCING CORPORATION $585,000 $1,145,000 95.7% 0.4%
NORWICH COMMERCIAL GROUP, INC. $745,000 $1,135,000 52.3% 0.4%
Riverview Bank $1,820,000 $1,085,000 -40.4% 0.4%
Flagstar Bank, FSB $740,000 $1,055,000 42.6% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $1,035,000 $1,050,000 1.4% 0.4%
VILLAGE CAPITAL & INVESTMENT LLC $735,000 $1,015,000 38.1% 0.4%
NATIONS RELIABLE LENDING, LLC $605,000 $1,010,000 66.9% 0.4%
City National Bank $955,000 n/a 0.3%
CHESSIE $125,000 $945,000 656.0% 0.3%
WesBanco Bank, Inc. $520,000 $940,000 80.8% 0.3%
Bank of America $1,230,000 $935,000 -24.0% 0.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $285,000 $925,000 224.6% 0.3%
Standard Bank, PaSB $835,000 $800,000 -4.2% 0.3%
MOVEMENT MORTGAGE, LLC $485,000 $780,000 60.8% 0.3%
UNION HOME MORTGAGE CORP. $1,045,000 $775,000 -25.8% 0.3%
Commercial Bank and Trust of PA $1,355,000 $765,000 -43.5% 0.3%
ARC HOME LLC $930,000 $725,000 -22.0% 0.3%
LAKEVIEW LOAN SERVICING, LLC $720,000 n/a 0.3%
KeyBank $695,000 $705,000 1.4% 0.3%
LINKBANK $705,000 n/a 0.3%
Alcova Mortgage LLC $315,000 $690,000 119.0% 0.2%
Towne Bank $680,000 n/a 0.2%
CALIBER HOME LOANS, INC. $460,000 $670,000 45.7% 0.2%
Fifth Third Bank $660,000 n/a 0.2%
Jersey Shore State Bank $615,000 n/a 0.2%
Clear Mountain Bank $555,000 $585,000 5.4% 0.2%
BETTER MORTGAGE CORPORATION $590,000 $555,000 -5.9% 0.2%
CLEARPATH LENDING $350,000 $515,000 47.1% 0.2%
PROVIDENT FUNDING ASSOCIATES, L.P. $540,000 $490,000 -9.3% 0.2%
Bank of England $275,000 $480,000 74.5% 0.2%
CFSBANK $470,000 n/a 0.2%
Mid Penn Bank $185,000 $470,000 154.1% 0.2%
EMBRACE HOME LOANS, INC. $245,000 $465,000 89.8% 0.2%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $545,000 $445,000 -18.3% 0.2%
HOMESPIRE MORTGAGE CORPORATION $425,000 $420,000 -1.2% 0.2%
NEW DAY FINANCIAL, LLC $955,000 $420,000 -56.0% 0.2%
Reliance Savings Bank $1,370,000 $415,000 -69.7% 0.1%
Carrington Mortgage Services, LLC $55,000 $395,000 618.2% 0.1%
InterContinental Capital Group, Inc $395,000 n/a 0.1%
ZILLOW HOME LOANS, LLC $165,000 $395,000 139.4% 0.1%
JLB CORPORATION $640,000 $390,000 -39.1% 0.1%
Truist Bank $1,845,000 $345,000 -81.3% 0.1%
APOLLO TRUST COMPANY $335,000 n/a 0.1%
EMM LOANS LLC $400,000 $335,000 -16.3% 0.1%
First Federal Bank of the Midwest $780,000 $330,000 -57.7% 0.1%
First United Corporation $480,000 $330,000 -31.3% 0.1%
CNB Bank $310,000 n/a 0.1%
U.S. Bank $665,000 $310,000 -53.4% 0.1%
United Bank $305,000 n/a 0.1%
First Citizens Community Bank $300,000 n/a 0.1%
SSB Bank $145,000 $295,000 103.4% 0.1%
Vellum Mortgage, Inc. $295,000 n/a 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $300,000 $285,000 -5.0% 0.1%
Axos Bank $275,000 n/a 0.1%
KELLER MORTGAGE, LLC $275,000 n/a 0.1%
FEDERATED MORTGAGE CORP. $265,000 n/a 0.1%
North American Savings Bank, F.S.B. $75,000 $265,000 253.3% 0.1%
Firstrust Savings Bank $255,000 n/a 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $265,000 $245,000 -7.5% 0.1%
Provident State Bank, Inc. $245,000 n/a 0.1%
TOP FLITE FINANCIAL, INC. $245,000 n/a 0.1%
RELIANCE FIRST CAPITAL, LLC $300,000 $240,000 -20.0% 0.1%
Arvest Bank $235,000 n/a 0.1%
George Mason Mortgage, LLC $235,000 n/a 0.1%
NATION ONE MORTGAGE CORPORATION $185,000 $235,000 27.0% 0.1%
Barrington Bank & Trust Company, N.A. $430,000 $230,000 -46.5% 0.1%
DRAPER AND KRAMER MORTGAGE CORP. $185,000 $230,000 24.3% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $565,000 $225,000 -60.2% 0.1%
PLAZA HOME MORTGAGE, INC. $195,000 $220,000 12.8% 0.1%
WEST PENN FINANCIAL SERVICE CENTER, INC. $65,000 $220,000 238.5% 0.1%
FINANCE OF AMERICA MORTGAGE LLC $175,000 $215,000 22.9% 0.1%
Altoona First Savings Bank $205,000 n/a 0.1%
Capital Bank $205,000 n/a 0.1%
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED $240,000 $200,000 -16.7% 0.1%
MILLENNIUM FINANCIAL GROUP, INC. $190,000 n/a 0.1%
USAA Federal Savings Bank $1,345,000 $190,000 -85.9% 0.1%
Ally Bank $215,000 $185,000 -14.0% 0.1%
AMERICAN FINANCIAL NETWORK, INC. $185,000 n/a 0.1%
SOFI LENDING CORP. $185,000 n/a 0.1%
The Federal Savings Bank $585,000 $185,000 -68.4% 0.1%
FIRST HOME MORTGAGE CORPORATION $550,000 $175,000 -68.2% 0.1%
Waterstone Mortgage Corporation $175,000 n/a 0.1%
Colonial Savings, F.A. $175,000 $165,000 -5.7% 0.1%
Northwest Federal Credit Union $165,000 n/a 0.1%
RESIDENTIAL MORTGAGE SERVICES, INC. $165,000 n/a 0.1%
TD Bank $165,000 n/a 0.1%
Manufacturers and Traders Trust Company $1,090,000 $160,000 -85.3% 0.1%
ANGEL OAK MORTGAGE SOLUTIONS LLC $155,000 n/a 0.1%
PHH Mortgage Corporation $95,000 $155,000 63.2% 0.1%
RESIDENTIAL BANCORP. $155,000 n/a 0.1%
Sierra Pacific Mortgage Company, Inc. $155,000 n/a 0.1%
INTERCOASTAL MORTGAGE COMPANY $395,000 $145,000 -63.3% 0.1%
Nations Lending Corporation $145,000 n/a 0.1%
PennCrest Bank $410,000 $145,000 -64.6% 0.1%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $350,000 $135,000 -61.4% 0.0%
Mars Bank $135,000 n/a 0.0%
Meridian Bank Corporation $135,000 n/a 0.0%
NBKC BANK $145,000 $135,000 -6.9% 0.0%
Union Savings Bank $215,000 $135,000 -37.2% 0.0%
Clearview Federal Credit Union $415,000 $130,000 -68.7% 0.0%
TRIAD FINANCIAL SERVICES, INC. $120,000 $130,000 8.3% 0.0%
ALLIED MORTGAGE GROUP, INC. $340,000 $125,000 -63.2% 0.0%
Baxter Credit Union $125,000 n/a 0.0%
CHURCHILL MORTGAGE CORPORATION $125,000 n/a 0.0%
First Commonwealth Federal Credit Union $125,000 n/a 0.0%
Low VA Rates, LLC $125,000 n/a 0.0%
ROYAL UNITED MORTGAGE LLC $600,000 $125,000 -79.2% 0.0%
SOUTHERN TRUST MORTGAGE, LLC $125,000 $125,000 0.0% 0.0%
Wilmington Savings Fund Society, FSB $125,000 n/a 0.0%
MCLEAN MORTGAGE CORPORATION $115,000 n/a 0.0%
MUTUAL OF OMAHA MORTGAGE, INC. $115,000 n/a 0.0%
Bank Independent $105,000 n/a 0.0%
CMG MORTGAGE, INC. $105,000 n/a 0.0%
ENVOY MORTGAGE, LTD $105,000 n/a 0.0%
EVANSVILLE TEACHERS $105,000 n/a 0.0%
National Bank of St. Anne $105,000 n/a 0.0%
UNITED MORTGAGE CORP. $105,000 $105,000 0.0% 0.0%
Foote Capital Mortgage Company $95,000 n/a 0.0%
THRIVENT Federal Credit Union $95,000 n/a 0.0%
FRICK FINANCIAL FEDERAL CREDIT UNION $155,000 $90,000 -41.9% 0.0%
Century Mortgage Company DBA Century Lending Company $85,000 n/a 0.0%
Figure Lending LLC $80,000 n/a 0.0%
Gateway First Bank $75,000 n/a 0.0%
Hometown Bank of Pennsylvania $75,000 n/a 0.0%
Third Federal Savings and Loan Association of Cleveland $105,000 $75,000 -28.6% 0.0%
WELCOME HOME FINANCE, L.P. $185,000 $75,000 -59.5% 0.0%
First Federal Savings and Loan Association of Greene Co $135,000 $65,000 -51.9% 0.0%
Discover Bank $85,000 $55,000 -35.3% 0.0%
RUOFF MORTGAGE COMPANY, INC. $55,000 n/a 0.0%
TJC Mortgage, Inc. $55,000 n/a 0.0%
21ST MORTGAGE CORPORATION $80,000 $45,000 -43.8% 0.0%
AMERICAN ADVISORS GROUP $40,000 n/a 0.0%
TIAA, FSB $280,000 $35,000 -87.5% 0.0%

Somerset's top lender by overall market share is SOMERSET TRUST COMPANY, with 15.3% market share. In second place, with 7.3%, is First National Bank of Pennsylvania, having originated $20,350,000 in loans. In third place, with 6.7%, is First Commonwealth Bank, having originated $18,660,000 in loans. In third place, with 6.7%, is QUICKEN LOANS, LLC, having originated $18,575,000 in loans. In third place, with 4.5%, is 1st Summit Bank, having originated $12,410,000 in loans.


Somerset, PA Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 794 $131,290,000 $165,353
Refi 755 $98,345,000 $130,258
Cash Out Refi 216 $30,230,000 $139,954
Other 138 $11,920,000 $86,377
Home Improvement 112 $5,840,000 $52,143

Somerset's most frequently cited loan purpose was Home Purchase, with 794 originations. The 2nd most popular reason was Refi, with 755 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 679 $95,365,000 $140,449
3-4% 589 $82,465,000 $140,008
<2.5% 421 $57,475,000 $136,520
4-5% 124 $11,660,000 $94,032
5-6% 23 $1,635,000 $71,087
6-7% 10 $530,000 $53,000
7-8% 5 $175,000 $35,000
Over 8% 1 $45,000 $45,000

During 2021, Somerset's most frequently originated rate bucket was 2.5-3%, with 679 originations.

Loan Sizing (Somerset, PA MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 869 $49,905,000 $57,428
$100k-200k 767 $108,195,000 $141,063
$200k-400k 332 $88,810,000 $267,500
$400k-600k 34 $16,070,000 $472,647
$600k-1000k 9 $6,675,000 $741,667
$Over $1MM 4 $7,970,000 $1,992,500

Somerset's loan sizing saw the bucket of loans from $100,000 or less with 869 originations, totaling $49,905,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 665 $102,695,000 $154,429
60-80% 555 $89,225,000 $160,766
40-60% 268 $34,470,000 $128,619
20-40% 195 $12,135,000 $62,231
Under 20% 119 $3,675,000 $30,882
Over 100% 11 $1,275,000 $115,909

Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 665 originations, totaling $102,695,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Somerset (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 $120,900 (-13.0%) $171,195 (-8.3%) 0.00 351
2018-02-01 $129,900 (-1.8%) $175,703 (-5.3%) 0.00 336
2018-03-01 $129,499 (-0.4%) $183,772 (0.6%) 0.00 336
2018-04-01 $129,500 (-4.0%) $182,172 (-3.9%) 0.00 338
2018-05-01 $125,000 (-7.8%) $181,199 (-4.7%) 0.00 332
2018-06-01 $129,000 (-7.5%) $184,219 (-4.7%) 0.00 333
2018-07-01 $134,450 (-3.9%) $189,207 (-5.0%) 0.00 346
2018-08-01 $139,000 (-6.3%) $187,193 (-5.6%) 0.00 363
2018-09-01 $134,000 (-3.6%) $188,509 (-4.5%) 0.00 372
2018-10-01 $129,500 (-0.3%) $181,386 (-3.0%) 0.00 358
2018-11-01 $127,250 (2.6%) $176,594 (-0.3%) 0.00 338
2018-12-01 $126,500 (2.0%) $177,005 (2.2%) 0.00 328
2019-01-01 $128,000 (5.9%) $182,869 (6.8%) 0.00 288
2019-02-01 $126,500 (-2.6%) $188,350 (7.2%) 0.00 254
2019-03-01 $129,429 (-0.1%) $184,624 (0.5%) 0.00 268
2019-04-01 $132,450 (2.3%) $182,147 (0.0%) 0.00 293
2019-05-01 $147,450 (18.0%) $192,168 (6.1%) 0.00 320
2019-06-01 $157,000 (21.7%) $197,347 (7.1%) 0.00 354
2019-07-01 $150,950 (12.3%) $202,905 (7.2%) 0.00 385
2019-08-01 $148,614 (6.9%) $197,354 (5.4%) 0.00 389
2019-09-01 $145,900 (8.9%) $193,656 (2.7%) 0.00 383
2019-10-01 $142,450 (10.0%) $195,704 (7.9%) 0.00 378
2019-11-01 $145,000 (14.0%) $196,896 (11.5%) 0.00 345
2019-12-01 $148,500 (17.4%) $201,942 (14.1%) 0.00 311
2020-01-01 $149,000 (16.4%) $203,891 (11.5%) 0.00 290
2020-02-01 $155,000 (22.5%) $209,126 (11.0%) 0.00 294
2020-03-01 $161,000 (24.4%) $218,533 (18.4%) 0.00 290
2020-04-01 $165,000 (24.6%) $222,959 (22.4%) 0.00 265
2020-05-01 $158,000 (7.2%) $230,729 (20.1%) 0.00 251
2020-06-01 $154,933 (-1.3%) $225,388 (14.2%) 0.00 273
2020-07-01 $156,900 (3.9%) $237,073 (16.8%) 0.00 254
2020-08-01 $143,000 (-3.8%) $228,092 (15.6%) 0.00 245
2020-09-01 $132,425 (-9.2%) $245,529 (26.8%) 0.00 226
2020-10-01 $129,900 (-8.8%) $248,701 (27.1%) 0.00 203
2020-11-01 $142,450 (-1.8%) $274,489 (39.4%) 0.00 184
2020-12-01 $142,450 (-4.1%) $283,025 (40.2%) 0.00 156
2021-01-01 $144,900 (-2.8%) $294,279 (44.3%) 0.00 137
2021-02-01 $144,900 (-6.5%) $280,900 (34.3%) 0.00 141
2021-03-01 $184,500 (14.6%) $291,501 (33.4%) 0.00 123
2021-04-01 $173,750 (5.3%) $298,546 (33.9%) 0.00 118
2021-05-01 $182,500 (15.5%) $295,646 (28.1%) 0.00 114
2021-06-01 $173,950 (12.3%) $300,065 (33.1%) 0.00 116
2021-07-01 $154,500 (-1.5%) $281,094 (18.6%) 0.00 135
2021-08-01 $164,900 (15.3%) $273,744 (20.0%) 0.00 162
2021-09-01 $162,400 (22.6%) $270,043 (10.0%) 0.00 166
2021-10-01 $149,000 (14.7%) $230,206 (-7.4%) 0.00 162
2021-11-01 $144,900 (1.7%) $222,157 (-19.1%) 0.00 131
2021-12-01 $137,250 (-3.7%) $225,847 (-20.2%) 0.00 126
2022-01-01 $124,900 (-13.8%) $206,552 (-29.8%) 0.00 102
2022-02-01 $119,900 (-17.3%) $194,901 (-30.6%) 0.00 92
2022-03-01 $149,900 (-18.8%) $252,077 (-13.5%) 0.00 100
2022-04-01 $189,900 (9.3%) $294,738 (-1.3%) 0.00 91
2022-05-01 $229,000 (25.5%) $306,726 (3.8%) 0.00 103
Somerset's median listing price for 2022-05-01 was $229,000, a difference of $46,500 (25.5%) versus the prior year and $39,100 versus the prior month.

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

Somerset's average listing price for 2022-05-01 was $306,726, a difference of $11,080 (3.8%) versus the prior year and $11,988 versus the prior month.

For the 2022-05-01 period, Somerset had 103 MLS listings, a difference of 12 listings (13%) versus the prior month and -11 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Somerset (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,766 sqft
2018-02-01 0 days 1,785 sqft
2018-03-01 0 days 1,770 sqft
2018-04-01 0 days 1,728 sqft
2018-05-01 0 days 1,721 sqft
2018-06-01 0 days 1,740 sqft
2018-07-01 0 days 1,763 sqft
2018-08-01 0 days 1,750 sqft
2018-09-01 0 days 1,738 sqft
2018-10-01 0 days 1,730 sqft
2018-11-01 0 days 1,656 sqft
2018-12-01 0 days 1,675 sqft
2019-01-01 0 days 1,708 sqft
2019-02-01 0 days 1,702 sqft
2019-03-01 0 days 1,748 sqft
2019-04-01 0 days 1,771 sqft
2019-05-01 0 days 1,780 sqft
2019-06-01 0 days 1,785 sqft
2019-07-01 0 days 1,808 sqft
2019-08-01 0 days 1,816 sqft
2019-09-01 0 days 1,832 sqft
2019-10-01 0 days 1,853 sqft
2019-11-01 0 days 1,868 sqft
2019-12-01 0 days 1,870 sqft
2020-01-01 0 days 1,880 sqft
2020-02-01 0 days 1,876 sqft
2020-03-01 0 days 1,911 sqft
2020-04-01 0 days 1,884 sqft
2020-05-01 0 days 1,908 sqft
2020-06-01 0 days 1,894 sqft
2020-07-01 0 days 1,898 sqft
2020-08-01 0 days 1,860 sqft
2020-09-01 0 days 1,792 sqft
2020-10-01 0 days 1,792 sqft
2020-11-01 0 days 1,868 sqft
2020-12-01 0 days 1,899 sqft
2021-01-01 0 days 1,922 sqft
2021-02-01 0 days 1,844 sqft
2021-03-01 0 days 1,928 sqft
2021-04-01 0 days 1,872 sqft
2021-05-01 0 days 1,748 sqft
2021-06-01 0 days 1,829 sqft
2021-07-01 0 days 1,675 sqft
2021-08-01 0 days 1,590 sqft
2021-09-01 0 days 1,583 sqft
2021-10-01 0 days 1,550 sqft
2021-11-01 0 days 1,579 sqft
2021-12-01 0 days 1,616 sqft
2022-01-01 0 days 1,560 sqft
2022-02-01 0 days 1,425 sqft
2022-03-01 0 days 1,477 sqft
2022-04-01 0 days 1,618 sqft
2022-05-01 0 days 1,721 sqft
Somerset's median listing age (time on market) for 2022-05-01 was 0 days.

Somerset's median square footage for active listings during the 2022-05-01 period was 1,721 sqft. One year prior, the average listing was 1,748 sqft.