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
7.15%
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
7.03% and
one month ago for the week of 2024-03-14, the
average rate was 6.89%.
Traverse City's average rate one year ago was 6.62%.
For refis of the same type during the week of 2024-04-18, the average rate
was 8.43%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Traverse City 30 Year Fixed Rate | 2024-04-18 | 7.15% |
| Traverse City 30 Year Fixed Rate Refi | 2024-04-18 | 8.43% |
| Traverse City 15 Year Fixed Rate | 2024-04-18 | 6.29% |
| Traverse City 15 Year Fixed Rate Refi | 2024-04-18 | 6.79% |
| Traverse City 30 Year FHA | 2024-04-18 | 6.66% |
| Traverse City 30 Year FHA Refi | 2024-04-18 | 6.86% |
| Traverse City 30 Year USDA | 2024-04-18 | 6.86% |
| Traverse City 30 Year USDA Refi | 2024-04-18 | 6.86% |
| Traverse City 30 Year VA | 2024-04-18 | 6.8% |
| Traverse City 30 Year VA Refi | 2024-04-18 | 6.56% |
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.).
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 |
Traverse City's median listing price for 2024-03-01 was $480,000, a difference of
$-6,475
(-1.3%) versus the prior year and
$20,625 versus the prior month.
Traverse City's median listing price comes in at 113% of the national average.
Traverse City's average listing price for 2024-03-01 was $700,635, a difference of $-93,443 (-11.8%) versus the prior year and $6,570 versus the prior month.
For the 2024-03-01 period, Traverse City had 428 MLS listings, a difference of 37 listings (9%) versus the prior month and 135 listings (46%) versus the prior year.
Traverse City's median listing price comes in at 113% of the national average.
Traverse City's average listing price for 2024-03-01 was $700,635, a difference of $-93,443 (-11.8%) versus the prior year and $6,570 versus the prior month.
For the 2024-03-01 period, Traverse City had 428 MLS listings, a difference of 37 listings (9%) versus the prior month and 135 listings (46%) 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 |
Traverse City's median listing age (time on market) for 2024-03-01 was 47 days.
This
is -16%
shorter
than the same period one year ago.
Traverse City's median square footage for active listings during the 2024-03-01 period was 1,550 sqft. One year prior, the average listing was 1,567 sqft.
Traverse City's median square footage for active listings during the 2024-03-01 period was 1,550 sqft. One year prior, the average listing was 1,567 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.