Traverse City Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Traverse City averaged 6.64% for the week of 2024-12-05, compared to the national average of 6.69% for the same period.

The average rate for the prior week (2024-11-27) was 7.06% and one month ago for the week of 2024-10-31, the average rate was 6.67%.

Traverse City's average rate one year ago was 7.47%.

For refis of the same type during the week of 2024-12-05, the average rate was 7.82%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-12-05 6.69%
Traverse City 30 Year Fixed Rate 2024-12-05 6.64%
Traverse City 30 Year Fixed Rate Refi 2024-12-05 7.82%
Traverse City 15 Year Fixed Rate 2024-12-05 6.16%
Traverse City 15 Year Fixed Rate Refi 2024-12-05 6.06%
Traverse City 30 Year FHA 2024-12-05 6.16%
Traverse City 30 Year FHA Refi 2024-12-05 6.46%
Traverse City 30 Year USDA 2024-12-05 6.53%
Traverse City 30 Year USDA Refi 2024-12-05 6.13%
Traverse City 30 Year VA 2024-12-05 5.99%
Traverse City 30 Year VA Refi 2024-12-05 6.34%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Traverse City, MI.

Traverse City 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 Traverse City, MI 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 180 7.25% $5,947
LAKE MICHIGAN CREDIT UNION 131 6.68% $4,000
QUICKEN LOANS, LLC 115 6.84% $7,264
The Huntington National Bank 64 6.47% $4,723
Independent Bank 53 6.82% $3,836
CALIBER HOME LOANS, INC. 52 6.70% $6,014
JPMorgan Chase Bank 43 6.69% $4,602
CREDIT UNION ONE 39 6.70% $2,677
Fifth Third Bank 37 6.74% $3,701
Mercantile Bank of Michigan 37 6.72% $4,740
NEWREZ LLC 27 7.35% $5,592
Neighborhood Loans, Inc. 26 7.08% $6,406
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 24 6.21% $4,578
STAUNTON FINANCIAL, INC. 17 6.65% $4,675
The Dart Bank 16 7.17% $4,196
CONSUMERS 14 7.81% $3,519
Wells Fargo Bank 14 6.79% $5,298
Morgan Stanley Private Bank 13 6.07% $3,923
Nicolet National Bank 12 7.11% $4,065
UNION HOME MORTGAGE CORP. 12 7.00% $5,761
GUARANTEED RATE, INC. 11 6.83% $4,348
CARDINAL FINANCIAL 11 7.14% $8,672
Bank of America 9 6.32% $7,646
MORTGAGE 1 INCORPORATED 9 7.54% $5,672
U.S. Bank 8 6.69% $4,888
PNC Bank 7 6.61% $3,489
Flagstar Bank, FSB 7 6.98% $4,014
FIRST COMMUNITY MORTGAGE, INC. 7 7.55% $7,080
MICHIGAN MUTUAL, INC. 7 7.37% $8,557
Citibank 6 5.13% $6,566
DOW CHEMICAL EMPLOYEES' 6 8.38% $2,658
TEAM ONE CREDIT UNION 6 7.40% $1,662
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 7.35% $5,404
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.97% $4,820
GENISYS 5 6.50% $6,238
AMERISAVE MORTGAGE CORPORATION 5 6.63% $7,024
Northpointe Bank 5 6.75% $11,605
Frankenmuth Credit Union 5 7.15% $7,145
ROYAL UNITED MORTGAGE LLC 4 7.00% $8,888
BROKER SOLUTIONS, INC. 4 7.12% $7,654
UBS Bank USA 4 6.59% $3,458
Mr. Cooper ( Nationstar Mortgage ) 4 7.18% $9,331
First Merchants Bank 4 6.88% $3,843
First Savings Bank 4 7.03% $3,702
NAVY FEDERAL CREDIT UNION 3 7.58% $8,611
USAA Federal Savings Bank 3 6.67% $8,771
Carrington Mortgage Services, LLC 3 6.21% $8,932
Macatawa Bank 3 6.46% $4,020
ZILLOW HOME LOANS, LLC 3 7.38% $4,171
RUOFF MORTGAGE COMPANY, INC. 3 7.17% $5,631
University Bank 3 7.46% $3,727
COMMUNITY FINANCIAL CREDIT UNION 3 6.88% $4,308
J. VIRGIL, INC. 3 7.38% $8,968
CMG MORTGAGE, INC. 3 7.00% $5,231
Isabella Bank 3 6.00% $2,515
Charles Schwab Bank, SSB 3 6.50% $6,197
ROSS MORTGAGE CORPORATION 3 7.13% $4,275
LOANDEPOT.COM, LLC 3 7.04% $10,483
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.67% $9,194
MORTGAGE CENTER L.C 3 6.38% $2,969
1st State Financial, Ltd. 2 7.06% $2,504
AMERICAN FINANCING CORPORATION 2 7.25% $10,031
ARBOR FINANCIAL CREDIT UNION 2 5.56% $3,271
COMMUNITY MORTGAGE FUNDING, LLC 2 8.06% $5,460
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 7.06% $7,430
First State Bank 2 6.69% $3,326
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.63% $10,499
GreenStone Farm Credit Services, FLCA 2 7.50% $8,441
GUILD MORTGAGE COMPANY 2 6.94% $4,820
KELLER MORTGAGE, LLC 2 6.63% $11,188
LENDSURE MORTGAGE CORP. 2 8.19% $9,140
MICHIGAN FIRST CREDIT UNION 2 6.81% $5,013
Raymond James Bank 2 6.00% $4,552
Stifel Bank and Trust 2 6.19% $2,269
VANDERBILT MORTGAGE AND FINANCE, INC. 2 7.69% $4,395
VIBE CREDIT UNION 2 5.75% $3,448
Goldman Sachs Bank USA 1 7.05% $6,067
WINGS FINANCIAL 1 6.38% $2,359
GENEVA FINANCIAL, LLC 1 7.63% $14,618
MICHIGAN SCHOOLS AND GOVERNMENT 1 6.25% $2,582
FREEDOM MORTGAGE CORPORATION 1 7.63% $5,670
MJW Financial LLC 1 7.63% $4,211
Florida Capital Bank 1 6.63% $6,639
MORIA DEVELOPMENT, INC. 1 7.63% $3,457
First Financial Bank 1 7.38% $3,640
Eagle Savings Bank 1 6.88% $2,964
MOVEMENT MORTGAGE, LLC 1 8.00% $10,566
Dort Financial Credit Union 1 6.75% $2,447
Discover Bank 1 8.49% $0
DIRECT MORTGAGE LOANS, LLC 1 8.13% $5,928
DAS Acquisition Company, LLC 1 7.50% $9,735
CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $3,991
NEXERA HOLDING LLC 1 8.38% $26,682
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.50% $3,241
North American Savings Bank, F.S.B. 1 5.88% $2,480
NORTHERN MORTGAGE SERVICES, LLC 1 7.99% $1,704
Commerce Home Mortgage, Inc. 1 8.13% $9,238
OAK MORTGAGE, LLC 1 7.63% $2,837
ONY GLO, INC. 1 7.63% $19,645
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.63% $7,795
PENNYMAC LOAN SERVICES, LLC 1 6.62% $6,202
PFCU 1 6.13% $3,523
PHH Mortgage Corporation 1 5.88% $9,823
Plains Commerce Bank 1 6.75% $2,175
PLANET HOME LENDING, LLC 1 6.25% $9,432
PLAZA HOME MORTGAGE, INC. 1 6.99% $10,007
Comerica Bank 1 5.63% $14,272
PREFERRED CREDIT UNION 1 6.50% $2,921
Preston Home Loans Inc 1 6.99% $1,906
PROPER RATE, LLC 1 7.88% $5,902
PROVIDENT FUNDING ASSOCIATES, L.P. 1 5.88% $5,757
Citizens Bank 1 7.13% $3,646
ACADEMY MORTGAGE CORPORATION 1 7.13% $4,589
Citadel Servicing Corporation 1 10.50% $10,842
CHURCHILL MORTGAGE CORPORATION 1 6.99% $5,827
ChoiceOne Bank 1 7.38% $8,592
Sierra Pacific Mortgage Company, Inc. 1 6.50% $5,226
Simmons Bank 1 6.50% $4,512
Bethpage Federal Credit Union 1 6.13% $3,786
ADVANCIAL 1 8.13% $8,101
Summit Credit Union 1 6.63% $2,528
Summit Mortgage Corporation 1 7.50% $6,029
T2 FINANCIAL LLC 1 7.13% $7,261
BAY-VALLEY MORTGAGE GROUP 1 7.25% $3,780
Barrington Bank & Trust Company, N.A. 1 7.38% $2,788
THE EQUITABLE MORTGAGE CORPORATION 1 6.88% $3,348
Associated Bank 1 5.75% $7,712
THE MORTGAGE LINK, INC. 1 7.50% $3,823
The State Bank 1 7.50% $2,711
THOMPSON KANE & COMPANY, LLC 1 7.63% $9,141
Toyota Financial Savings Bank 1 7.13% $3,086
Truity Federal Credit Union 1 7.38% $3,040
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 8.75% $18,056
AmeriHome Mortgage Company, LLC 1 7.88% $6,504
United Bank of Michigan 1 8.13% $4,139
United Community Bank 1 6.95% $3,325
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $23,528
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $8,791
ALLIED MORTGAGE GROUP, INC. 1 7.13% $8,088
LAKEVIEW LOAN SERVICING, LLC 1 6.75% $8,216
LCNB National Bank 1 7.75% $2,880
LEADERONE FINANCIAL CORPORATION 1 7.63% $4,088
Alerus Financial 1 7.63% $3,709
Horizon Bank 1 6.50% $3,413
GVC MORTGAGE, INC. 1 6.99% $5,803

Traverse City Average Closing Costs & Other Stats

Traverse City, MI's 145 lenders originated 3,078 loans during 2023. The total origination value was $909,960,000, with an average loan value of $295,634.

Traverse City's average closing costs are $4,225.

The top Traverse City lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 180 loans originated. Their average total fees are $5,947, which is $1,948 higher than the next largest lender, LAKE MICHIGAN CREDIT UNION.

The lowest fee Traverse City lenders (with over 10 loans originated) are CREDIT UNION ONE ($2,677), CONSUMERS ($3,519), Fifth Third Bank ($3,701), Independent Bank ($3,836) and Morgan Stanley Private Bank ($3,923).

The lowest rate Traverse City lenders (with over 10 loans originated) are Morgan Stanley Private Bank (6.07%), MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION (6.21%), The Huntington National Bank (6.47%), STAUNTON FINANCIAL, INC. (6.65%) and LAKE MICHIGAN CREDIT UNION (6.68%).

Traverse City, MI 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
The Huntington National Bank $138,780,000 $133,030,000 -4.1% 14.6%
LAKE MICHIGAN CREDIT UNION $150,815,000 $107,475,000 -28.7% 11.8%
UNITED WHOLESALE MORTGAGE, LLC $84,340,000 $89,040,000 5.6% 9.8%
Independent Bank $103,850,000 $57,575,000 -44.6% 6.3%
QUICKEN LOANS, LLC $87,805,000 $46,575,000 -47.0% 5.1%
PNC Bank $36,185,000 $26,015,000 -28.1% 2.9%
Fifth Third Bank $55,195,000 $24,885,000 -54.9% 2.7%
Mercantile Bank of Michigan $28,625,000 $22,745,000 -20.5% 2.5%
CREDIT UNION ONE $17,380,000 $21,380,000 23.0% 2.3%
JPMorgan Chase Bank $29,010,000 $21,315,000 -26.5% 2.3%
CALIBER HOME LOANS, INC. $39,595,000 $20,590,000 -48.0% 2.3%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $32,910,000 $17,865,000 -45.7% 2.0%
NEWREZ LLC $1,520,000 $10,665,000 601.6% 1.2%
Neighborhood Loans, Inc. $6,505,000 $9,580,000 47.3% 1.1%
Nicolet National Bank $20,975,000 $9,510,000 -54.7% 1.0%
Wells Fargo Bank $14,775,000 $9,320,000 -36.9% 1.0%
GreenStone Farm Credit Services, FLCA $7,390,000 $8,655,000 17.1% 1.0%
The Northern Trust Company $8,435,000 n/a 0.9%
The Dart Bank $8,130,000 $8,190,000 0.7% 0.9%
Morgan Stanley Private Bank $13,520,000 $8,155,000 -39.7% 0.9%
GREYSTONE SERVICING COMPANY LLC $3,235,000 $7,645,000 136.3% 0.8%
Bank of America $15,205,000 $7,340,000 -51.7% 0.8%
STAUNTON FINANCIAL, INC. $16,835,000 $6,940,000 -58.8% 0.8%
U.S. Bank $9,385,000 $6,300,000 -32.9% 0.7%
Mortgage Research Center, LLC $9,640,000 $6,275,000 -34.9% 0.7%
Citibank $6,090,000 $5,540,000 -9.0% 0.6%
GUARANTEED RATE, INC. $1,800,000 $5,340,000 196.7% 0.6%
CONSUMERS $5,035,000 $5,185,000 3.0% 0.6%
CARDINAL FINANCIAL $5,635,000 $5,150,000 -8.6% 0.6%
GENISYS $5,725,000 $5,025,000 -12.2% 0.6%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $1,910,000 $4,990,000 161.3% 0.5%
UNION HOME MORTGAGE CORP. $12,160,000 $4,515,000 -62.9% 0.5%
Old National Bank $3,835,000 $4,030,000 5.1% 0.4%
Frankenmuth Credit Union $2,545,000 $3,890,000 52.8% 0.4%
USAA Federal Savings Bank $1,605,000 $3,660,000 128.0% 0.4%
Wildfire Credit Union $280,000 $3,565,000 1,173.2% 0.4%
NAVY FEDERAL CREDIT UNION $3,920,000 $3,555,000 -9.3% 0.4%
DOW CHEMICAL EMPLOYEES' $3,085,000 $3,435,000 11.3% 0.4%
FREEDOM MORTGAGE CORPORATION $7,465,000 $3,390,000 -54.6% 0.4%
First Community Bank $3,360,000 n/a 0.4%
MICHIGAN MUTUAL, INC. $2,900,000 $3,155,000 8.8% 0.3%
BROKER SOLUTIONS, INC. $2,950,000 $2,995,000 1.5% 0.3%
Flagstar Bank, FSB $5,080,000 $2,930,000 -42.3% 0.3%
Raymond James Bank $3,475,000 $2,920,000 -16.0% 0.3%
Citizens Bank $8,190,000 $2,900,000 -64.6% 0.3%
Northpointe Bank $1,985,000 $2,750,000 38.5% 0.3%
Mr. Cooper ( Nationstar Mortgage ) $6,630,000 $2,580,000 -61.1% 0.3%
LOANDEPOT.COM, LLC $8,175,000 $2,515,000 -69.2% 0.3%
Goldman Sachs Bank USA $1,570,000 $2,415,000 53.8% 0.3%
CROSSCOUNTRY MORTGAGE, LLC $3,720,000 $2,335,000 -37.2% 0.3%
MORTGAGE 1 INCORPORATED $2,860,000 $2,320,000 -18.9% 0.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,600,000 $2,140,000 33.8% 0.2%
Grand River Bank $335,000 $2,105,000 528.4% 0.2%
First Merchants Bank $3,175,000 $2,100,000 -33.9% 0.2%
Charles Schwab Bank, SSB $2,365,000 $2,085,000 -11.8% 0.2%
FIRST COMMUNITY MORTGAGE, INC. $1,935,000 n/a 0.2%
TEAM ONE CREDIT UNION $3,700,000 $1,930,000 -47.8% 0.2%
The Commercial and Savings Bank of Millersburg Ohio $1,855,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $1,105,000 $1,835,000 66.1% 0.2%
TRIAD FINANCIAL SERVICES, INC. $3,630,000 $1,830,000 -49.6% 0.2%
The Federal Savings Bank $905,000 $1,755,000 93.9% 0.2%
AMERISAVE MORTGAGE CORPORATION $3,790,000 $1,750,000 -53.8% 0.2%
ADVANCIAL $1,685,000 n/a 0.2%
First Savings Bank $275,000 $1,650,000 500.0% 0.2%
Carrington Mortgage Services, LLC $2,145,000 $1,610,000 -24.9% 0.2%
Florida Capital Bank $1,455,000 n/a 0.2%
J. VIRGIL, INC. $4,915,000 $1,455,000 -70.4% 0.2%
PENNYMAC LOAN SERVICES, LLC $2,835,000 $1,455,000 -48.7% 0.2%
Associated Bank $3,695,000 $1,445,000 -60.9% 0.2%
First Financial Bank $105,000 $1,420,000 1,252.4% 0.2%
UBS Bank USA $2,765,000 $1,400,000 -49.4% 0.2%
University Bank $1,400,000 n/a 0.2%
AMERICAN FINANCIAL NETWORK, INC. $1,380,000 n/a 0.2%
Isabella Bank $4,625,000 $1,345,000 -70.9% 0.1%
Sturgis Bank & Trust Company $1,310,000 n/a 0.1%
T2 FINANCIAL LLC $4,520,000 $1,290,000 -71.5% 0.1%
FINANCE OF AMERICA REVERSE LLC $420,000 $1,275,000 203.6% 0.1%
RUOFF MORTGAGE COMPANY, INC. $255,000 $1,275,000 400.0% 0.1%
COMMUNITY FINANCIAL CREDIT UNION $2,635,000 $1,255,000 -52.4% 0.1%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $620,000 $1,250,000 101.6% 0.1%
ARBOR FINANCIAL CREDIT UNION $505,000 $1,235,000 144.6% 0.1%
Honor Credit Union $670,000 $1,205,000 79.9% 0.1%
Discover Bank $325,000 $1,150,000 253.8% 0.1%
NEXERA HOLDING LLC $1,145,000 n/a 0.1%
21ST MORTGAGE CORPORATION $580,000 $1,120,000 93.1% 0.1%
Comerica Bank $4,150,000 $1,110,000 -73.3% 0.1%
The Park National Bank $1,105,000 n/a 0.1%
First State Bank $505,000 $1,080,000 113.9% 0.1%
Figure Lending LLC $500,000 $1,065,000 113.0% 0.1%
1st State Financial, Ltd. $770,000 $1,005,000 30.5% 0.1%
Macatawa Bank $425,000 $1,005,000 136.5% 0.1%
MICHIGAN SCHOOLS AND GOVERNMENT $180,000 $1,005,000 458.3% 0.1%
MOVEMENT MORTGAGE, LLC $335,000 $935,000 179.1% 0.1%
Horizon Bank $3,670,000 $925,000 -74.8% 0.1%
LAKEVIEW LOAN SERVICING, LLC $2,180,000 $880,000 -59.6% 0.1%
Coastal Community Bank $870,000 n/a 0.1%
A&D Mortgage LLC $810,000 n/a 0.1%
ELGA CREDIT UNION $155,000 $810,000 422.6% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $1,395,000 $810,000 -41.9% 0.1%
MORTGAGE CENTER L.C $2,640,000 $790,000 -70.1% 0.1%
Stifel Bank and Trust $1,080,000 $785,000 -27.3% 0.1%
The State Bank $4,760,000 $780,000 -83.6% 0.1%
Centier Bank $325,000 $765,000 135.4% 0.1%
ANGEL OAK MORTGAGE SOLUTIONS LLC $155,000 $745,000 380.6% 0.1%
PLANET HOME LENDING, LLC $115,000 $745,000 547.8% 0.1%
DAS Acquisition Company, LLC $1,015,000 $730,000 -28.1% 0.1%
BMO Harris Bank $2,755,000 $725,000 -73.7% 0.1%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $710,000 n/a 0.1%
KELLER MORTGAGE, LLC $735,000 $710,000 -3.4% 0.1%
AMERICAN PACIFIC MORTGAGE CORPORATION $840,000 $695,000 -17.3% 0.1%
ROSS MORTGAGE CORPORATION $395,000 $665,000 68.4% 0.1%
ZILLOW HOME LOANS, LLC $340,000 $655,000 92.6% 0.1%
CMG MORTGAGE, INC. $575,000 $645,000 12.2% 0.1%
LENDSURE MORTGAGE CORP. $635,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $765,000 $625,000 -18.3% 0.1%
COMMUNITY MORTGAGE FUNDING, LLC $620,000 n/a 0.1%
MICHIGAN FIRST CREDIT UNION $310,000 $615,000 98.4% 0.1%
NBKC BANK $870,000 $580,000 -33.3% 0.1%
Alerus Financial $575,000 n/a 0.1%
United Community Bank $565,000 n/a 0.1%
Citadel Servicing Corporation $555,000 n/a 0.1%
LEADERONE FINANCIAL CORPORATION $555,000 n/a 0.1%
ONY GLO, INC. $555,000 n/a 0.1%
MID AMERICA MORTGAGE, INC. $1,385,000 $525,000 -62.1% 0.1%
AmeriHome Mortgage Company, LLC $180,000 $510,000 183.3% 0.1%
VIBE CREDIT UNION $370,000 $510,000 37.8% 0.1%
Commercial Bank $505,000 n/a 0.1%
ChoiceOne Bank $225,000 $495,000 120.0% 0.1%
DFCU FINANCIAL $660,000 $495,000 -25.0% 0.1%
CHURCHILL MORTGAGE CORPORATION $3,085,000 $490,000 -84.1% 0.1%
KeyBank $1,355,000 $470,000 -65.3% 0.1%
North American Savings Bank, F.S.B. $485,000 $455,000 -6.2% 0.1%
PFCU $450,000 n/a 0.0%
Ameris Bank $445,000 n/a 0.0%
THE MORTGAGE LINK, INC. $445,000 n/a 0.0%
PREMIA MORTGAGE, LLC $435,000 n/a 0.0%
Simmons Bank $415,000 n/a 0.0%
STOCKTON MORTGAGE CORPORATION $875,000 $410,000 -53.1% 0.0%
LIBERTY HOME MORTGAGE CORPORATION $405,000 n/a 0.0%
VANDERBILT MORTGAGE AND FINANCE, INC. $400,000 n/a 0.0%
Plains Commerce Bank $245,000 $395,000 61.2% 0.0%
Toyota Financial Savings Bank $395,000 n/a 0.0%
GENEVA FINANCIAL, LLC $310,000 $385,000 24.2% 0.0%
PACIFIC RESIDENTIAL MORTGAGE, LLC $375,000 n/a 0.0%
THE EQUITABLE MORTGAGE CORPORATION $375,000 n/a 0.0%
Adventure Credit Union $730,000 $370,000 -49.3% 0.0%
Manufacturers Bank & Trust Company $365,000 n/a 0.0%
THOMPSON KANE & COMPANY, LLC $365,000 n/a 0.0%
NETWORK CAPITAL FUNDING CORPORATION $355,000 n/a 0.0%
Bethpage Federal Credit Union $115,000 $345,000 200.0% 0.0%
Commerce Home Mortgage, Inc. $1,220,000 $345,000 -71.7% 0.0%
Eagle Savings Bank $345,000 n/a 0.0%
GUILD MORTGAGE COMPANY $485,000 $340,000 -29.9% 0.0%
HOMESTEAD FUNDING CORP. $335,000 n/a 0.0%
WINGS FINANCIAL $265,000 $335,000 26.4% 0.0%
PHH Mortgage Corporation $525,000 $325,000 -38.1% 0.0%
Summit Credit Union $315,000 n/a 0.0%
Truity Federal Credit Union $315,000 n/a 0.0%
AMERICAN FINANCIAL RESOURCES, INC. $335,000 $305,000 -9.0% 0.0%
First Farmers Bank and Trust Company $305,000 n/a 0.0%
GSF Mortgage Corporation $350,000 $305,000 -12.9% 0.0%
Preston Home Loans Inc $915,000 $305,000 -66.7% 0.0%
USAlliance Federal Credit Union $305,000 n/a 0.0%
Barrington Bank & Trust Company, N.A. $250,000 $300,000 20.0% 0.0%
HOMEBRIDGE FINANCIAL SERVICES, INC. $430,000 $300,000 -30.2% 0.0%
West Michigan Community Bank $300,000 n/a 0.0%
BAY-VALLEY MORTGAGE GROUP $295,000 n/a 0.0%
DIRECT MORTGAGE LOANS, LLC $295,000 n/a 0.0%
PROPER RATE, LLC $295,000 n/a 0.0%
Service Federal Credit Union $95,000 $295,000 210.5% 0.0%
PLAZA HOME MORTGAGE, INC. $690,000 $285,000 -58.7% 0.0%
AMERICAN FINANCING CORPORATION $1,115,000 $280,000 -74.9% 0.0%
NATIONWIDE MORTGAGE BANKERS, INC. $275,000 n/a 0.0%
NORTHERN MORTGAGE SERVICES, LLC $725,000 $275,000 -62.1% 0.0%
TOP FLITE FINANCIAL, INC. $145,000 $275,000 89.7% 0.0%
Dort Financial Credit Union $415,000 $270,000 -34.9% 0.0%
MORIA DEVELOPMENT, INC. $265,000 n/a 0.0%
OPEN MORTGAGE, LLC $265,000 n/a 0.0%
UNITED $260,000 $265,000 1.9% 0.0%
First American Bank $255,000 n/a 0.0%
First Federal Bank $255,000 n/a 0.0%
GUARANTEED RATE AFFINITY, LLC $255,000 n/a 0.0%
GVC MORTGAGE, INC. $425,000 $255,000 -40.0% 0.0%
LENDINGONE, LLC $245,000 n/a 0.0%
M&T Bank $245,000 n/a 0.0%
PREFERRED CREDIT UNION $245,000 n/a 0.0%
ALLIED MORTGAGE GROUP, INC. $235,000 n/a 0.0%
GREENSTATE CREDIT UNION $925,000 $235,000 -74.6% 0.0%
LCNB National Bank $235,000 n/a 0.0%
United Bank of Michigan $230,000 n/a 0.0%
Sierra Pacific Mortgage Company, Inc. $225,000 n/a 0.0%
Summit Mortgage Corporation $225,000 n/a 0.0%
Chickasaw Community Bank $215,000 n/a 0.0%
MEMBER FIRST MORTGAGE, LLC $1,865,000 $210,000 -88.7% 0.0%
ACADEMY MORTGAGE CORPORATION $205,000 n/a 0.0%
MEMBERFOCUS COMMUNITY $205,000 n/a 0.0%
PRIMELENDING, A PLAINSCAPITAL COMPANY $1,405,000 $205,000 -85.4% 0.0%
PROVIDENT FUNDING ASSOCIATES, L.P. $850,000 $205,000 -75.9% 0.0%
Homestead Savings Bank $195,000 n/a 0.0%
Lake Trust Credit Union $150,000 $195,000 30.0% 0.0%
Regions Bank $195,000 n/a 0.0%
VAN DYK MORTGAGE CORPORATION $1,975,000 $195,000 -90.1% 0.0%
GTE Federal Credit Union $190,000 n/a 0.0%
Deere Employees Credit Union $125,000 $180,000 44.0% 0.0%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $285,000 $175,000 -38.6% 0.0%
Prosperity Home Mortgage, LLC $175,000 n/a 0.0%
AMERICAN HERITAGE LENDING, INC. $165,000 n/a 0.0%
EVERETT FINANCIAL, INC. $690,000 $165,000 -76.1% 0.0%
TEMPLE VIEW CAPITAL FUNDING, LP $165,000 n/a 0.0%
SPRING EQ, LLC $220,000 $160,000 -27.3% 0.0%
MJW Financial LLC $155,000 n/a 0.0%
OAK MORTGAGE, LLC $1,285,000 $155,000 -87.9% 0.0%
Nations Lending Corporation $500,000 $145,000 -71.0% 0.0%
American 1 Credit Union $125,000 n/a 0.0%
LENDINGHOME FUNDING CORPORATION $125,000 n/a 0.0%
Residential Mortgage Solutions, Inc. $125,000 n/a 0.0%
West Texas National Bank $125,000 n/a 0.0%
Zeal Credit Union $120,000 n/a 0.0%
Equity Prime Mortgage LLC $410,000 $115,000 -72.0% 0.0%
ALLIANT CREDIT UNION $430,000 $95,000 -77.9% 0.0%
Third Federal Savings and Loan Association of Cleveland $95,000 n/a 0.0%
ADVIA $15,000 $85,000 466.7% 0.0%
UMB Bank $75,000 n/a 0.0%
West Michigan Credit Union $600,000 $75,000 -87.5% 0.0%
Signature Federal Credit Union $65,000 n/a 0.0%
COMMUNITY CHOICE CREDIT UNION $45,000 $55,000 22.2% 0.0%
Community West Credit Union $55,000 n/a 0.0%
GreenStone Farm Credit Services, ACA $45,000 n/a 0.0%
UNIVERSITY OF MICHIGAN CREDIT UNION $710,000 $45,000 -93.7% 0.0%
MICHIGAN ONE COMMUNITY Credit Union $35,000 n/a 0.0%
Chartwell Financial, LLC $120,000 $25,000 -79.2% 0.0%
Meijer Credit Union $25,000 n/a 0.0%
STAR USA FEDERAL CREDIT UNION $25,000 n/a 0.0%

Traverse City's top lender by overall market share is The Huntington National Bank, with 14.6% market share. In second place, with 11.8%, is LAKE MICHIGAN CREDIT UNION, having originated $107,475,000 in loans. In third place, with 9.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $89,040,000 in loans. In fourth place, with 6.3%, is Independent Bank, having originated $57,575,000 in loans. In fifth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $46,575,000 in loans.


Traverse City Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Traverse City (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 $327,650 (6.7%) $460,418 (4.0%) 1.21 1,136
2018-02-01 $325,000 (6.8%) $461,184 (6.5%) 1.18 1,108
2018-03-01 $324,950 (8.3%) $457,845 (6.0%) 1.14 1,155
2018-04-01 $325,000 (8.4%) $464,115 (10.2%) 1.10 1,228
2018-05-01 $329,250 (10.0%) $468,541 (10.4%) 1.10 1,367
2018-06-01 $325,000 (8.1%) $461,995 (7.0%) 1.08 1,582
2018-07-01 $318,750 (-0.1%) $450,046 (0.7%) 1.06 1,745
2018-08-01 $315,000 (-1.6%) $448,761 (-1.8%) 1.06 1,772
2018-09-01 $309,250 (-3.1%) $447,667 (-1.1%) 1.04 1,742
2018-10-01 $301,225 (-6.5%) $447,610 (-2.1%) 1.02 1,680
2018-11-01 $309,500 (-5.3%) $454,225 (-2.6%) 1.05 1,582
2018-12-01 $310,500 (-5.6%) $466,265 (-1.0%) 1.07 1,374
2019-01-01 $309,892 (-5.4%) $466,426 (1.3%) 1.07 1,248
2019-02-01 $305,350 (-6.1%) $463,499 (0.5%) 1.03 1,211
2019-03-01 $318,314 (-2.0%) $468,494 (2.3%) 1.04 1,211
2019-04-01 $324,950 (0.0%) $470,011 (1.3%) 1.03 1,227
2019-05-01 $329,000 (-0.1%) $473,545 (1.1%) 1.03 1,345
2019-06-01 $329,900 (1.5%) $479,102 (3.7%) 1.03 1,530
2019-07-01 $330,000 (3.5%) $483,432 (7.4%) 1.03 1,606
2019-08-01 $329,155 (4.5%) $481,978 (7.4%) 1.04 1,595
2019-09-01 $327,886 (6.0%) $477,557 (6.7%) 1.05 1,564
2019-10-01 $338,541 (12.4%) $487,750 (9.0%) 1.09 1,350
2019-11-01 $349,000 (12.8%) $502,983 (10.7%) 1.14 1,075
2019-12-01 $349,450 (12.5%) $510,393 (9.5%) 1.17 970
2020-01-01 $349,000 (12.6%) $513,515 (10.1%) 1.17 872
2020-02-01 $369,000 (20.8%) $536,054 (15.7%) 1.21 786
2020-03-01 $379,900 (19.4%) $541,905 (15.7%) 1.19 775
2020-04-01 $387,400 (19.2%) $542,869 (15.5%) 1.21 799
2020-05-01 $395,000 (20.1%) $560,489 (18.4%) 1.20 856
2020-06-01 $399,450 (21.1%) $576,902 (20.4%) 1.18 877
2020-07-01 $389,450 (18.0%) $594,494 (23.0%) 1.13 766
2020-08-01 $385,000 (17.0%) $595,020 (23.5%) 1.10 712
2020-09-01 $379,800 (15.8%) $593,811 (24.3%) 1.09 611
2020-10-01 $379,900 (12.2%) $622,348 (27.6%) 1.09 544
2020-11-01 $388,500 (11.3%) $646,632 (28.6%) 1.14 464
2020-12-01 $379,200 (8.5%) $638,267 (25.1%) 1.13 421
2021-01-01 $389,000 (11.5%) $592,696 (15.4%) 1.16 342
2021-02-01 $410,000 (11.1%) $633,807 (18.2%) 1.19 274
2021-03-01 $424,400 (11.7%) $700,259 (29.2%) 1.20 270
2021-04-01 $427,100 (10.3%) $715,891 (31.9%) 1.16 260
2021-05-01 $449,000 (13.7%) $717,080 (27.9%) 1.19 317
2021-06-01 $475,000 (18.9%) $749,391 (29.9%) 1.25 354
2021-07-01 $450,000 (15.6%) $739,264 (24.4%) 1.19 372
2021-08-01 $455,000 (18.2%) $732,227 (23.1%) 1.21 388
2021-09-01 $450,000 (18.5%) $740,610 (24.7%) 1.20 376
2021-10-01 $434,900 (14.5%) $742,207 (19.3%) 1.16 355
2021-11-01 $424,900 (9.4%) $762,077 (17.9%) 1.14 312
2021-12-01 $429,900 (13.4%) $773,135 (21.1%) 1.16 261
2022-01-01 $450,000 (15.7%) $793,090 (33.8%) 1.22 237
2022-02-01 $453,450 (10.6%) $811,637 (28.1%) 1.18 204
2022-03-01 $492,500 (16.1%) $844,214 (20.6%) 1.23 206
2022-04-01 $485,000 (13.6%) $862,664 (20.5%) 1.16 214
2022-05-01 $499,000 (11.1%) $857,224 (19.5%) 1.14 298
2022-06-01 $499,500 (5.2%) $860,393 (14.8%) 1.11 389
2022-07-01 $534,950 (18.9%) $813,042 (10.0%) 1.21 507
2022-08-01 $520,000 (14.3%) $790,376 (7.9%) 1.20 529
2022-09-01 $506,750 (12.6%) $780,532 (5.4%) 1.18 483
2022-10-01 $499,950 (15.0%) $764,063 (2.9%) 1.18 472
2022-11-01 $481,050 (13.2%) $748,948 (-1.7%) 1.16 430
2022-12-01 $479,900 (11.6%) $763,714 (-1.2%) 1.18 361
2023-01-01 $464,950 (3.3%) $773,499 (-2.5%) 1.15 286
2023-02-01 $485,975 (7.2%) $786,699 (-3.1%) 1.17 293
2023-03-01 $486,475 (-1.2%) $794,078 (-5.9%) 1.15 293
2023-04-01 $499,000 (2.9%) $809,578 (-6.2%) 1.16 315
2023-05-01 $534,000 (7.0%) $827,017 (-3.5%) 1.21 367
2023-06-01 $524,500 (5.0%) $811,622 (-5.7%) 1.18 451
2023-07-01 $497,500 (-7.0%) $772,506 (-5.0%) 1.13 508
2023-08-01 $495,000 (-4.8%) $757,657 (-4.1%) 1.14 514
2023-09-01 $499,000 (-1.5%) $755,802 (-3.2%) 1.16 556
2023-10-01 $499,000 (-0.2%) $747,081 (-2.2%) 1.17 565
2023-11-01 $477,250 (-0.8%) $722,174 (-3.6%) 1.14 559
2023-12-01 $485,000 (1.1%) $724,312 (-5.2%) 1.18 469
2024-01-01 $459,188 (-1.2%) $675,119 (-12.7%) 1.12 390
2024-02-01 $459,375 (-5.5%) $694,065 (-11.8%) 1.11 391
2024-03-01 $480,000 (-1.3%) $700,635 (-11.8%) 1.13 428
2024-04-01 $464,950 (-6.8%) $723,188 (-10.7%) 1.08 489
2024-05-01 $481,200 (-9.9%) $751,047 (-9.2%) 1.09 566
2024-06-01 $495,000 (-5.6%) $812,967 (0.2%) 1.11 646
2024-07-01 $479,900 (-3.5%) $780,695 (1.1%) 1.10 735
2024-08-01 $475,000 (-4.0%) $761,650 (0.5%) 1.10 769
2024-09-01 $479,450 (-3.9%) $766,049 (1.4%) 1.13 791
2024-10-01 $472,450 (-5.3%) $767,962 (2.8%) 1.11 760
2024-11-01 $449,900 (-5.7%) $751,211 (4.0%) 0.00 712
Traverse City's median listing price for 2024-11-01 was $449,900, a difference of $-27,350 (-5.7%) versus the prior year and $-22,550 versus the prior month.

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

Traverse City's average listing price for 2024-11-01 was $751,211, a difference of $29,037 (4.0%) versus the prior year and $-16,751 versus the prior month.

For the 2024-11-01 period, Traverse City had 712 MLS listings, a difference of -48 listings (-6%) versus the prior month and 153 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Traverse City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 121 days 1,703 sqft
2018-02-01 122 days 1,700 sqft
2018-03-01 127 days 1,719 sqft
2018-04-01 84 days 1,718 sqft
2018-05-01 55 days 1,750 sqft
2018-06-01 48 days 1,778 sqft
2018-07-01 56 days 1,771 sqft
2018-08-01 66 days 1,793 sqft
2018-09-01 75 days 1,800 sqft
2018-10-01 80 days 1,739 sqft
2018-11-01 85 days 1,717 sqft
2018-12-01 100 days 1,725 sqft
2019-01-01 111 days 1,681 sqft
2019-02-01 117 days 1,638 sqft
2019-03-01 101 days 1,631 sqft
2019-04-01 76 days 1,641 sqft
2019-05-01 50 days 1,660 sqft
2019-06-01 46 days 1,700 sqft
2019-07-01 54 days 1,709 sqft
2019-08-01 60 days 1,713 sqft
2019-09-01 67 days 1,719 sqft
2019-10-01 76 days 1,732 sqft
2019-11-01 89 days 1,722 sqft
2019-12-01 101 days 1,692 sqft
2020-01-01 114 days 1,651 sqft
2020-02-01 106 days 1,628 sqft
2020-03-01 78 days 1,618 sqft
2020-04-01 83 days 1,652 sqft
2020-05-01 81 days 1,732 sqft
2020-06-01 72 days 1,781 sqft
2020-07-01 60 days 1,967 sqft
2020-08-01 68 days 1,888 sqft
2020-09-01 73 days 1,827 sqft
2020-10-01 64 days 1,792 sqft
2020-11-01 67 days 1,665 sqft
2020-12-01 77 days 1,604 sqft
2021-01-01 80 days 1,608 sqft
2021-02-01 79 days 1,584 sqft
2021-03-01 49 days 1,625 sqft
2021-04-01 44 days 1,660 sqft
2021-05-01 37 days 1,708 sqft
2021-06-01 38 days 1,823 sqft
2021-07-01 40 days 1,794 sqft
2021-08-01 40 days 1,758 sqft
2021-09-01 42 days 1,771 sqft
2021-10-01 54 days 1,753 sqft
2021-11-01 58 days 1,744 sqft
2021-12-01 66 days 1,622 sqft
2022-01-01 68 days 1,545 sqft
2022-02-01 72 days 1,510 sqft
2022-03-01 64 days 1,515 sqft
2022-04-01 44 days 1,531 sqft
2022-05-01 30 days 1,672 sqft
2022-06-01 31 days 1,806 sqft
2022-07-01 33 days 1,800 sqft
2022-08-01 47 days 1,770 sqft
2022-09-01 58 days 1,741 sqft
2022-10-01 61 days 1,700 sqft
2022-11-01 70 days 1,648 sqft
2022-12-01 87 days 1,603 sqft
2023-01-01 81 days 1,628 sqft
2023-02-01 60 days 1,567 sqft
2023-03-01 56 days 1,567 sqft
2023-04-01 52 days 1,632 sqft
2023-05-01 42 days 1,684 sqft
2023-06-01 38 days 1,763 sqft
2023-07-01 40 days 1,766 sqft
2023-08-01 51 days 1,716 sqft
2023-09-01 48 days 1,708 sqft
2023-10-01 51 days 1,719 sqft
2023-11-01 59 days 1,610 sqft
2023-12-01 80 days 1,585 sqft
2024-01-01 82 days 1,528 sqft
2024-02-01 67 days 1,526 sqft
2024-03-01 47 days 1,550 sqft
2024-04-01 44 days 1,539 sqft
2024-05-01 43 days 1,550 sqft
2024-06-01 44 days 1,573 sqft
2024-07-01 45 days 1,626 sqft
2024-08-01 53 days 1,609 sqft
2024-09-01 59 days 1,594 sqft
2024-10-01 68 days 1,621 sqft
2024-11-01 0 days 1,616 sqft
Traverse City's median listing age (time on market) for 2024-11-01 was 0 days. This is -100% shorter than the same period one year ago.

Traverse City's median square footage for active listings during the 2024-11-01 period was 1,616 sqft. One year prior, the average listing was 1,610 sqft.

Traverse City, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 1,494 $588,970,000 $394,224
Cash Out Refi 471 $101,205,000 $214,873
Home Improvement 432 $59,630,000 $138,032
Other 410 $64,650,000 $157,683
Refi 271 $95,505,000 $352,417

Traverse City's most frequently cited loan purpose was Home Purchase, with 1,494 originations. The 2nd most popular reason was Cash Out Refi, with 471 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 973 $322,855,000 $331,814
Over 8% 878 $168,560,000 $191,982
7-8% 858 $247,090,000 $287,984
5-6% 307 $138,165,000 $450,049
4-5% 29 $11,805,000 $407,069
3-4% 5 $2,845,000 $569,000
<2.5% 2 $380,000 $190,000
2.5-3% 2 $1,730,000 $865,000

During 2023, Traverse City's most frequently originated rate bucket was 6-7%, with 973 originations.

Loan Sizing (Traverse City, MI MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 1,047 $298,145,000 $284,761
$100k-200k 750 $108,530,000 $144,707
$100,000 or less 741 $43,515,000 $58,725
$400k-600k 315 $150,905,000 $479,063
$600k-1000k 150 $110,150,000 $734,333
$Over $1MM 75 $198,715,000 $2,649,533

Traverse City's loan sizing saw the bucket of loans from $200k-400k with 1,047 originations, totaling $298,145,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 861 $307,975,000 $357,695
60-80% 651 $329,745,000 $506,521
Under 20% 605 $58,805,000 $97,198
20-40% 543 $82,555,000 $152,035
40-60% 352 $112,820,000 $320,511
Over 100% 19 $6,555,000 $345,000

Traverse City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 861 originations, totaling $307,975,000 in origination value.