St. Marys Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in St. Marys averaged
7.11%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
7.09% and
one month ago for the week of 2024-03-14, the
average rate was 6.55%.
St. Marys's average rate one year ago was 6.38%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.6%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| St. Marys 30 Year Fixed Rate | 2024-04-18 | 7.11% |
| St. Marys 30 Year Fixed Rate Refi | 2024-04-18 | 7.6% |
| St. Marys 15 Year Fixed Rate | 2024-04-18 | 6.59% |
| St. Marys 15 Year Fixed Rate Refi | 2024-04-18 | 6.29% |
| St. Marys 30 Year FHA | 2024-04-18 | 7.06% |
| St. Marys 30 Year FHA Refi | 2024-04-18 | 6.76% |
| St. Marys 30 Year USDA | 2024-04-18 | 6.86% |
| St. Marys 30 Year USDA Refi | 2024-04-18 | 6.86% |
| St. Marys 30 Year VA | 2024-04-18 | 6.96% |
| St. Marys 30 Year VA Refi | 2024-04-18 | 6.66% |
St. Marys 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 St. Marys, 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.).
St. Marys Average Closing Costs & Other Stats
St. Marys, PA's 34 lenders originated 453
loans during 2023. The total origination value was $46,345,000, with an average loan value of
$102,307.
St. Marys's average closing costs are $4,464.
The top St. Marys lender as defined by loan originations is QUICKEN LOANS, LLC, with
20 loans originated. Their average total fees are
$6,257, which is $1,443
higher than the next largest lender,
First Commonwealth Bank.
The lowest fee St. Marys lenders (with over 10 loans originated) are
CNB Bank ($3,849), Northwest Bank ($4,538), First Commonwealth Bank ($4,815), QUICKEN LOANS, LLC ($6,257) and .
The lowest rate St. Marys lenders (with over 10 loans originated) are
Northwest Bank (6.55%), First Commonwealth Bank (6.69%), CNB Bank (6.83%), QUICKEN LOANS, LLC (6.87%) and .
St. Marys, PA 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 |
|---|---|---|---|---|
| CNB Bank | $14,905,000 | $10,165,000 | -31.8% | 21.9% |
| Northwest Bank | $10,230,000 | $8,270,000 | -19.2% | 17.8% |
| First Commonwealth Bank | $13,155,000 | $7,435,000 | -43.5% | 16.0% |
| QUICKEN LOANS, LLC | $7,060,000 | $5,680,000 | -19.5% | 12.3% |
| S&T Bank | $3,535,000 | $1,485,000 | -58.0% | 3.2% |
| PNC Bank | $1,835,000 | $1,135,000 | -38.1% | 2.4% |
| The Farmers National Bank of Canfield | $960,000 | n/a | 2.1% | |
| PENNSYLVANIA STATE EMPLOYEES Credit Union | $615,000 | $910,000 | 48.0% | 2.0% |
| Mortgage Research Center, LLC | $1,200,000 | $660,000 | -45.0% | 1.4% |
| PENNYMAC LOAN SERVICES, LLC | $220,000 | $605,000 | 175.0% | 1.3% |
| CARDINAL FINANCIAL | $520,000 | $575,000 | 10.6% | 1.2% |
| AMERISAVE MORTGAGE CORPORATION | $75,000 | $485,000 | 546.7% | 1.0% |
| Equity Prime Mortgage LLC | $435,000 | n/a | 0.9% | |
| BROKER SOLUTIONS, INC. | $125,000 | $375,000 | 200.0% | 0.8% |
| MOVEMENT MORTGAGE, LLC | $335,000 | n/a | 0.7% | |
| Citizens & Northern Bank | $445,000 | $325,000 | -27.0% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $15,000 | $310,000 | 1,966.7% | 0.7% |
| Univest Bank and Trust Co. | $295,000 | n/a | 0.6% | |
| Jersey Shore State Bank | $190,000 | $285,000 | 50.0% | 0.6% |
| NEW DAY FINANCIAL, LLC | $65,000 | $285,000 | 338.5% | 0.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $290,000 | $280,000 | -3.4% | 0.6% |
| Flagstar Bank, FSB | $110,000 | $240,000 | 118.2% | 0.5% |
| PLAZA HOME MORTGAGE, INC. | $460,000 | $230,000 | -50.0% | 0.5% |
| LIBERTY HOME MORTGAGE CORPORATION | $225,000 | n/a | 0.5% | |
| Foote Capital Mortgage Company | $205,000 | n/a | 0.4% | |
| Northpointe Bank | $155,000 | $205,000 | 32.3% | 0.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $190,000 | n/a | 0.4% | |
| LOANDEPOT.COM, LLC | $415,000 | $185,000 | -55.4% | 0.4% |
| Citizens Bank | $250,000 | $180,000 | -28.0% | 0.4% |
| Bank of England | $155,000 | $175,000 | 12.9% | 0.4% |
| AMERICAN FINANCING CORPORATION | $160,000 | n/a | 0.3% | |
| First National Bank of Pennsylvania | $185,000 | $160,000 | -13.5% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $330,000 | $160,000 | -51.5% | 0.3% |
| MidAtlantic Farm Credit, ACA | $480,000 | $155,000 | -67.7% | 0.3% |
| ACADEMY MORTGAGE CORPORATION | $125,000 | n/a | 0.3% | |
| AFFORDABLE MORTGAGE ADVISORS, LLC. | $125,000 | n/a | 0.3% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $1,920,000 | $125,000 | -93.5% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $280,000 | $125,000 | -55.4% | 0.3% |
| LOANPAL, LLC | $125,000 | n/a | 0.3% | |
| Mars Bank | $85,000 | $125,000 | 47.1% | 0.3% |
| Victorian Finance, LLC | $125,000 | n/a | 0.3% | |
| NEWREZ LLC | $300,000 | $115,000 | -61.7% | 0.2% |
| NEXTIER BANK, NATIONAL ASSOCIATION | $500,000 | $115,000 | -77.0% | 0.2% |
| M&T Bank | $85,000 | $105,000 | 23.5% | 0.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $65,000 | $105,000 | 61.5% | 0.2% |
| Bank of America | $95,000 | n/a | 0.2% | |
| Community Bank | $65,000 | $85,000 | 30.8% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $85,000 | n/a | 0.2% | |
| PREMIA MORTGAGE, LLC | $85,000 | n/a | 0.2% | |
| TIDEWATER MORTGAGE SERVICES, INC. | $85,000 | n/a | 0.2% | |
| CMG MORTGAGE, INC. | $75,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $75,000 | n/a | 0.2% | |
| SPRING EQ, LLC | $75,000 | n/a | 0.2% | |
| CHARTER WEST BANK | $65,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $55,000 | $65,000 | 18.2% | 0.1% |
| Marion Center Bank | $210,000 | $65,000 | -69.0% | 0.1% |
| U.S. Bank | $140,000 | $65,000 | -53.6% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $55,000 | n/a | 0.1% | |
| FIRST HERITAGE FINANCIAL, LLC | $55,000 | n/a | 0.1% | |
| UNION HOME MORTGAGE CORP. | $55,000 | n/a | 0.1% | |
| Discover Bank | $45,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $45,000 | n/a | 0.1% | |
| RUOFF MORTGAGE COMPANY, INC. | $45,000 | n/a | 0.1% | |
| SOMERSET TRUST COMPANY | $675,000 | $35,000 | -94.8% | 0.1% |
| FREEDOM CREDIT UNION | $15,000 | n/a | 0.0% |
St. Marys's top lender by overall market share is CNB Bank, with 21.9% market share. In second place, with 17.8%, is Northwest Bank, having originated $8,270,000 in loans. In third place, with 16.0%, is First Commonwealth Bank, having originated $7,435,000 in loans. In fourth place, with 12.3%, is QUICKEN LOANS, LLC, having originated $5,680,000 in loans. In fifth place, with 3.2%, is S&T Bank, having originated $1,485,000 in loans.
St. Marys, PA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 217 | $26,505,000 | $122,143 |
| Home Improvement | 91 | $5,055,000 | $55,549 |
| Other | 68 | $5,900,000 | $86,765 |
| Refi | 43 | $4,645,000 | $108,023 |
| Cash Out Refi | 34 | $4,240,000 | $124,706 |
St. Marys's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Home Improvement, with 91 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 143 | $15,935,000 | $111,434 |
| 7-8% | 121 | $14,715,000 | $121,612 |
| 5-6% | 84 | $8,550,000 | $101,786 |
| Over 8% | 61 | $3,865,000 | $63,361 |
| 4-5% | 18 | $1,820,000 | $101,111 |
| 3-4% | 16 | $690,000 | $43,125 |
| 2.5-3% | 4 | $320,000 | $80,000 |
| <2.5% | 4 | $260,000 | $65,000 |
During 2023, St. Marys's most frequently originated rate bucket was 6-7%, with 143 originations.
Loan Sizing (St. Marys, PA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 278 | $15,390,000 | $55,360 |
| $100k-200k | 133 | $17,865,000 | $134,323 |
| $200k-400k | 35 | $9,415,000 | $269,000 |
| $400k-600k | 5 | $2,115,000 | $423,000 |
| $600k-1000k | 2 | $1,560,000 | $780,000 |
St. Marys's loan sizing saw the bucket of loans from $100,000 or less with 278 originations, totaling $15,390,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 160 | $21,470,000 | $134,188 |
| 60-80% | 99 | $12,935,000 | $130,657 |
| 20-40% | 84 | $4,660,000 | $55,476 |
| Under 20% | 55 | $2,135,000 | $38,818 |
| 40-60% | 51 | $4,745,000 | $93,039 |
| Over 100% | 2 | $210,000 | $105,000 |
St. Marys's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 160 originations, totaling $21,470,000 in origination value.