Union City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Union City averaged
6.55%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.47% and
one month ago for the week of 2023-04-20, the
average rate was 6.67%.
Union City's average rate one year ago was 5.33%.
For refis of the same type during the week of 2023-05-25, the average rate
was 6.97%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
Union City 30 Year Fixed Rate | 2023-05-25 | 6.55% |
Union City 30 Year Fixed Rate Refi | 2023-05-25 | 6.97% |
Union City 15 Year Fixed Rate | 2023-05-25 | 5.87% |
Union City 15 Year Fixed Rate Refi | 2023-05-25 | 6.17% |
Union City 30 Year FHA | 2023-05-25 | 6.71% |
Union City 30 Year FHA Refi | 2023-05-25 | 6.41% |
Union City 30 Year USDA | 2023-05-25 | 6.63% |
Union City 30 Year USDA Refi | 2023-05-25 | 6.63% |
Union City 30 Year VA | 2023-05-25 | 6.31% |
Union City 30 Year VA Refi | 2023-05-25 | 6.21% |
Union 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 Union City, TN 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.).
Union City Average Closing Costs & Other Stats
Union City, TN's 37 lenders originated 536
loans during 2022. The total origination value was $66,760,000, with an average loan value of
$124,552.
Union City's average closing costs are $4,003.
The top Union City lender as defined by loan originations is Simmons Bank, with
15 loans originated. Their average total fees are
$3,158, which is $132
lower than the next largest lender,
Leaders Credit Union.
The lowest fee Union City lenders (with over 10 loans originated) are
Simmons Bank ($3,158), Leaders Credit Union ($3,290), .
The lowest rate Union City lenders (with over 10 loans originated) are
Simmons Bank (5.18%), Leaders Credit Union (5.60%), .
Union City, TN 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
Leaders Credit Union | $6,880,000 | $7,845,000 | 14.0% | 11.8% |
Simmons Bank | $8,375,000 | $7,495,000 | -10.5% | 11.2% |
Commercial Bank & Trust Co. | $10,460,000 | $7,290,000 | -30.3% | 10.9% |
Regions Bank | $6,420,000 | $5,835,000 | -9.1% | 8.7% |
First Citizens National Bank | $11,270,000 | $4,925,000 | -56.3% | 7.4% |
QUICKEN LOANS, LLC | $9,740,000 | $3,790,000 | -61.1% | 5.7% |
Mortgage Research Center, LLC | $3,410,000 | $2,040,000 | -40.2% | 3.1% |
FIRST COMMUNITY MORTGAGE, INC. | $2,245,000 | $1,870,000 | -16.7% | 2.8% |
LOANDEPOT.COM, LLC | $1,265,000 | $1,580,000 | 24.9% | 2.4% |
First Financial Bank | $680,000 | $1,520,000 | 123.5% | 2.3% |
UNITED WHOLESALE MORTGAGE, LLC | $205,000 | $1,005,000 | 390.2% | 1.5% |
FREEDOM MORTGAGE CORPORATION | $1,555,000 | $915,000 | -41.2% | 1.4% |
21ST MORTGAGE CORPORATION | $590,000 | $910,000 | 54.2% | 1.4% |
U. T. | $1,360,000 | $780,000 | -42.6% | 1.2% |
First Guaranty Mortgage Corporation | $405,000 | $700,000 | 72.8% | 1.0% |
Mr. Cooper ( Nationstar Mortgage ) | $940,000 | $655,000 | -30.3% | 1.0% |
MORTGAGE INVESTORS GROUP, INC. | $840,000 | $640,000 | -23.8% | 1.0% |
BROKER SOLUTIONS, INC. | $645,000 | $635,000 | -1.6% | 1.0% |
Centennial Bank | $85,000 | $625,000 | 635.3% | 0.9% |
Wells Fargo Bank | $765,000 | $605,000 | -20.9% | 0.9% |
LEADERONE FINANCIAL CORPORATION | $565,000 | n/a | 0.8% | |
PENNYMAC LOAN SERVICES, LLC | $395,000 | $550,000 | 39.2% | 0.8% |
U.S. Bank | $410,000 | $550,000 | 34.1% | 0.8% |
HOME POINT FINANCIAL CORPORATION | $300,000 | $540,000 | 80.0% | 0.8% |
Citizens Bank | $625,000 | $525,000 | -16.0% | 0.8% |
Paramount Residential Mortgage Group, Inc. | $295,000 | $515,000 | 74.6% | 0.8% |
PLANET HOME LENDING, LLC | $410,000 | n/a | 0.6% | |
Flagstar Bank, FSB | $395,000 | n/a | 0.6% | |
Royal Credit Union | $375,000 | n/a | 0.6% | |
AMERISAVE MORTGAGE CORPORATION | $765,000 | $365,000 | -52.3% | 0.5% |
NEW DAY FINANCIAL, LLC | $345,000 | $350,000 | 1.4% | 0.5% |
ROYAL UNITED MORTGAGE LLC | $345,000 | n/a | 0.5% | |
JPMorgan Chase Bank | $240,000 | $340,000 | 41.7% | 0.5% |
Axos Bank | $335,000 | n/a | 0.5% | |
Farm Credit Mid-America, ACA | $565,000 | $315,000 | -44.2% | 0.5% |
GENEVA FINANCIAL, LLC | $235,000 | $315,000 | 34.0% | 0.5% |
NAVY FEDERAL CREDIT UNION | $205,000 | $315,000 | 53.7% | 0.5% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $310,000 | n/a | 0.5% | |
AMERICAN FINANCING CORPORATION | $135,000 | $270,000 | 100.0% | 0.4% |
ARC HOME LLC | $265,000 | n/a | 0.4% | |
Barrington Bank & Trust Company, N.A. | $240,000 | n/a | 0.4% | |
The Federal Savings Bank | $235,000 | n/a | 0.4% | |
Carrington Mortgage Services, LLC | $220,000 | $215,000 | -2.3% | 0.3% |
First Horizon Bank | $145,000 | $185,000 | 27.6% | 0.3% |
CMG MORTGAGE, INC. | $175,000 | n/a | 0.3% | |
GUILD MORTGAGE COMPANY | $175,000 | n/a | 0.3% | |
LAKEVIEW LOAN SERVICING, LLC | $500,000 | $175,000 | -65.0% | 0.3% |
Legends Bank | $955,000 | $175,000 | -81.7% | 0.3% |
Patriot Bank | $175,000 | n/a | 0.3% | |
EVERETT FINANCIAL, INC. | $155,000 | n/a | 0.2% | |
Fifth Third Bank | $155,000 | n/a | 0.2% | |
RAPID MORTGAGE COMPANY | $155,000 | n/a | 0.2% | |
Bell Bank | $145,000 | n/a | 0.2% | |
CRESCENT MORTGAGE COMPANY | $215,000 | $135,000 | -37.2% | 0.2% |
Hometown Lenders, Inc. | $130,000 | n/a | 0.2% | |
CALIBER HOME LOANS, INC. | $305,000 | $125,000 | -59.0% | 0.2% |
CORNERSTONE HOME LENDING, INC. | $125,000 | n/a | 0.2% | |
Independence Bank of Kentucky | $125,000 | n/a | 0.2% | |
Nations Lending Corporation | $105,000 | n/a | 0.2% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $480,000 | $105,000 | -78.1% | 0.2% |
Bank of England | $370,000 | $95,000 | -74.3% | 0.1% |
First Federal Bank | $220,000 | $95,000 | -56.8% | 0.1% |
MOVEMENT MORTGAGE, LLC | $95,000 | n/a | 0.1% | |
SOUTHWEST FUNDING, LP | $125,000 | $95,000 | -24.0% | 0.1% |
USAA Federal Savings Bank | $75,000 | $85,000 | 13.3% | 0.1% |
NBKC BANK | $75,000 | n/a | 0.1% | |
Apex Bank | $65,000 | n/a | 0.1% | |
Discover Bank | $55,000 | n/a | 0.1% | |
LAND HOME FINANCIAL SERVICES, INC. | $55,000 | n/a | 0.1% | |
Carroll Bank and Trust | $50,000 | n/a | 0.1% | |
ORNL Federal Credit Union | $45,000 | n/a | 0.1% | |
FEDCHOICE Federal Credit Union | $35,000 | n/a | 0.1% | |
Figure Lending LLC | $15,000 | n/a | 0.0% |
Union City's top lender by overall market share is Leaders Credit Union, with 11.8% market share. In second place, with 11.2%, is Simmons Bank, having originated $7,495,000 in loans. In third place, with 10.9%, is Commercial Bank & Trust Co., having originated $7,290,000 in loans. In fourth place, with 8.7%, is Regions Bank, having originated $5,835,000 in loans. In fifth place, with 7.4%, is First Citizens National Bank, having originated $4,925,000 in loans.
Union City Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Union City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $114,900 (7.0%) | $140,077 (10.2%) | 0.00 | 133 |
2018-02-01 | $119,250 (8.5%) | $144,420 (11.7%) | 0.00 | 140 |
2018-03-01 | $117,450 (4.8%) | $147,965 (12.4%) | 0.00 | 147 |
2018-04-01 | $119,900 (4.3%) | $155,299 (17.2%) | 0.00 | 150 |
2018-05-01 | $119,450 (0.6%) | $148,546 (11.4%) | 0.00 | 149 |
2018-06-01 | $119,900 (0.4%) | $143,954 (7.7%) | 0.00 | 153 |
2018-07-01 | $129,600 (8.1%) | $151,712 (14.2%) | 0.00 | 156 |
2018-08-01 | $134,200 (9.6%) | $156,051 (15.7%) | 0.00 | 156 |
2018-09-01 | $120,000 (0.0%) | $151,694 (11.1%) | 0.00 | 147 |
2018-10-01 | $119,900 (3.9%) | $141,610 (6.4%) | 0.00 | 143 |
2018-11-01 | $124,750 (8.6%) | $141,972 (6.3%) | 0.00 | 141 |
2018-12-01 | $129,700 (13.3%) | $143,512 (4.7%) | 0.00 | 124 |
2019-01-01 | $122,450 (6.6%) | $137,691 (-1.7%) | 0.00 | 131 |
2019-02-01 | $119,900 (0.6%) | $138,251 (-4.3%) | 0.00 | 120 |
2019-03-01 | $133,700 (13.8%) | $146,983 (-1.0%) | 0.00 | 120 |
2019-04-01 | $139,450 (16.3%) | $154,525 (-1.2%) | 0.00 | 88 |
2019-05-01 | $131,250 (9.9%) | $151,118 (1.7%) | 0.00 | 91 |
2019-06-01 | $137,000 (14.3%) | $154,311 (7.2%) | 0.00 | 91 |
2019-07-01 | $131,825 (1.7%) | $153,921 (1.5%) | 0.00 | 88 |
2019-08-01 | $133,000 (-0.9%) | $149,436 (-0.1%) | 0.00 | 87 |
2019-09-01 | $133,225 (11.0%) | $150,960 (3.6%) | 0.00 | 74 |
2019-10-01 | $133,900 (11.7%) | $157,372 (11.6%) | 0.00 | 71 |
2019-11-01 | $133,900 (7.3%) | $154,666 (8.9%) | 0.00 | 64 |
2019-12-01 | $132,450 (2.1%) | $156,678 (9.2%) | 0.00 | 64 |
2020-01-01 | $129,900 (6.1%) | $156,161 (13.4%) | 0.00 | 67 |
2020-02-01 | $134,900 (12.5%) | $162,850 (17.8%) | 0.00 | 67 |
2020-03-01 | $132,400 (-1.0%) | $172,465 (17.8%) | 0.00 | 69 |
2020-04-01 | $133,675 (-4.1%) | $180,381 (17.6%) | 0.00 | 61 |
2020-05-01 | $144,900 (10.4%) | $193,291 (27.9%) | 0.00 | 52 |
2020-06-01 | $149,500 (9.1%) | $189,783 (23.0%) | 0.00 | 53 |
2020-07-01 | $149,700 (13.6%) | $187,670 (21.9%) | 0.00 | 45 |
2020-08-01 | $149,500 (12.4%) | $179,827 (15.3%) | 0.00 | 39 |
2020-09-01 | $146,050 (9.6%) | $184,529 (17.4%) | 0.00 | 42 |
2020-10-01 | $147,200 (9.9%) | $187,710 (18.8%) | 0.00 | 41 |
2020-11-01 | $150,000 (12.0%) | $227,690 (47.2%) | 0.00 | 37 |
2020-12-01 | $129,900 (-1.9%) | $207,210 (32.3%) | 0.00 | 35 |
2021-01-01 | $149,750 (15.3%) | $224,545 (43.8%) | 0.00 | 35 |
2021-02-01 | $149,625 (10.9%) | $231,845 (42.4%) | 0.00 | 32 |
2021-03-01 | $157,875 (19.2%) | $241,690 (40.1%) | 0.00 | 26 |
2021-04-01 | $192,350 (43.9%) | $239,775 (32.9%) | 0.00 | 29 |
2021-05-01 | $182,500 (26.0%) | $239,604 (24.0%) | 0.00 | 23 |
2021-06-01 | $188,100 (25.8%) | $232,929 (22.7%) | 0.00 | 27 |
2021-07-01 | $169,000 (12.9%) | $224,741 (19.8%) | 0.00 | 30 |
2021-08-01 | $172,225 (15.2%) | $229,420 (27.6%) | 0.00 | 33 |
2021-09-01 | $145,250 (-0.6%) | $194,677 (5.5%) | 0.00 | 37 |
2021-10-01 | $159,950 (8.7%) | $217,995 (16.1%) | 0.00 | 34 |
2021-11-01 | $156,000 (4.0%) | $204,033 (-10.4%) | 0.00 | 35 |
2021-12-01 | $157,225 (21.0%) | $198,037 (-4.4%) | 0.00 | 33 |
2022-01-01 | $144,900 (-3.2%) | $171,363 (-23.7%) | 0.00 | 27 |
2022-02-01 | $142,450 (-4.8%) | $154,421 (-33.4%) | 0.00 | 23 |
2022-03-01 | $144,975 (-8.2%) | $196,055 (-18.9%) | 0.00 | 25 |
2022-04-01 | $145,000 (-24.6%) | $208,477 (-13.1%) | 0.00 | 20 |
2022-05-01 | $138,625 (-24.0%) | $189,575 (-20.9%) | 0.00 | 20 |
2022-06-01 | $140,575 (-25.3%) | $181,117 (-22.2%) | 0.00 | 23 |
2022-07-01 | $149,900 (-11.3%) | $167,162 (-25.6%) | 0.00 | 33 |
2022-08-01 | $169,750 (-1.4%) | $207,699 (-9.5%) | 0.00 | 39 |
2022-09-01 | $159,475 (9.8%) | $220,403 (13.2%) | 0.00 | 44 |
2022-10-01 | $159,500 (-0.3%) | $206,776 (-5.2%) | 0.00 | 50 |
2022-11-01 | $154,700 (-0.8%) | $200,768 (-1.6%) | 0.00 | 53 |
2022-12-01 | $159,900 (1.7%) | $201,811 (1.9%) | 0.00 | 55 |
2023-01-01 | $160,000 (10.4%) | $218,483 (27.5%) | 0.00 | 56 |
2023-02-01 | $165,000 (15.8%) | $220,762 (43.0%) | 0.00 | 57 |
2023-03-01 | $182,300 (25.8%) | $216,026 (10.2%) | 0.00 | 50 |
2023-04-01 | $187,000 (29.0%) | $227,838 (0.0%) | 0.00 | 42 |
Union City's median listing price comes in at 0% of the national average.
Union City's average listing price for 2023-04-01 was $227,838, a difference of $19,361 (0.0%) versus the prior year and $11,812 versus the prior month.
For the 2023-04-01 period, Union City had 42 MLS listings, a difference of -8 listings (-16%) versus the prior month and 22 listings (110%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Union City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,729 sqft |
2018-02-01 | 0 days | 1,731 sqft |
2018-03-01 | 0 days | 1,796 sqft |
2018-04-01 | 0 days | 1,862 sqft |
2018-05-01 | 0 days | 1,834 sqft |
2018-06-01 | 0 days | 1,792 sqft |
2018-07-01 | 0 days | 1,809 sqft |
2018-08-01 | 0 days | 1,823 sqft |
2018-09-01 | 0 days | 1,800 sqft |
2018-10-01 | 0 days | 1,713 sqft |
2018-11-01 | 0 days | 1,684 sqft |
2018-12-01 | 0 days | 1,590 sqft |
2019-01-01 | 0 days | 1,591 sqft |
2019-02-01 | 0 days | 1,616 sqft |
2019-03-01 | 0 days | 1,713 sqft |
2019-04-01 | 0 days | 1,718 sqft |
2019-05-01 | 0 days | 1,652 sqft |
2019-06-01 | 0 days | 1,728 sqft |
2019-07-01 | 0 days | 1,718 sqft |
2019-08-01 | 0 days | 1,702 sqft |
2019-09-01 | 0 days | 1,697 sqft |
2019-10-01 | 0 days | 1,710 sqft |
2019-11-01 | 0 days | 1,701 sqft |
2019-12-01 | 0 days | 1,719 sqft |
2020-01-01 | 0 days | 1,726 sqft |
2020-02-01 | 0 days | 1,747 sqft |
2020-03-01 | 0 days | 1,745 sqft |
2020-04-01 | 0 days | 1,745 sqft |
2020-05-01 | 0 days | 1,832 sqft |
2020-06-01 | 0 days | 1,841 sqft |
2020-07-01 | 0 days | 1,769 sqft |
2020-08-01 | 0 days | 1,680 sqft |
2020-09-01 | 0 days | 1,776 sqft |
2020-10-01 | 0 days | 1,855 sqft |
2020-11-01 | 0 days | 1,914 sqft |
2020-12-01 | 0 days | 1,680 sqft |
2021-01-01 | 0 days | 1,804 sqft |
2021-02-01 | 0 days | 1,804 sqft |
2021-03-01 | 0 days | 1,758 sqft |
2021-04-01 | 0 days | 1,857 sqft |
2021-05-01 | 0 days | 1,974 sqft |
2021-06-01 | 0 days | 1,898 sqft |
2021-07-01 | 0 days | 1,644 sqft |
2021-08-01 | 0 days | 1,607 sqft |
2021-09-01 | 0 days | 1,561 sqft |
2021-10-01 | 0 days | 1,624 sqft |
2021-11-01 | 0 days | 1,687 sqft |
2021-12-01 | 0 days | 1,696 sqft |
2022-01-01 | 0 days | 1,586 sqft |
2022-02-01 | 0 days | 1,480 sqft |
2022-03-01 | 0 days | 1,531 sqft |
2022-04-01 | 0 days | 1,565 sqft |
2022-05-01 | 0 days | 1,427 sqft |
2022-06-01 | 0 days | 1,447 sqft |
2022-07-01 | 0 days | 1,337 sqft |
2022-08-01 | 0 days | 1,589 sqft |
2022-09-01 | 0 days | 1,548 sqft |
2022-10-01 | 0 days | 1,572 sqft |
2022-11-01 | 0 days | 1,563 sqft |
2022-12-01 | 0 days | 1,563 sqft |
2023-01-01 | 0 days | 1,535 sqft |
2023-02-01 | 0 days | 1,476 sqft |
2023-03-01 | 0 days | 1,509 sqft |
2023-04-01 | 0 days | 1,549 sqft |
Union City's median square footage for active listings during the 2023-04-01 period was 1,549 sqft. One year prior, the average listing was 1,565 sqft.
Union City, TN Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 268 | $39,370,000 | $146,903 |
Refi | 102 | $10,830,000 | $106,176 |
Cash Out Refi | 76 | $11,170,000 | $146,974 |
Home Improvement | 57 | $2,865,000 | $50,263 |
Other | 33 | $2,525,000 | $76,515 |
Union City's most frequently cited loan purpose was Home Purchase, with 268 originations. The 2nd most popular reason was Refi, with 102 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 112 | $13,690,000 | $122,232 |
5-6% | 109 | $15,115,000 | $138,670 |
4-5% | 94 | $12,930,000 | $137,553 |
6-7% | 46 | $6,480,000 | $140,870 |
7-8% | 22 | $2,100,000 | $95,455 |
2.5-3% | 21 | $3,225,000 | $153,571 |
Over 8% | 14 | $1,060,000 | $75,714 |
<2.5% | 10 | $1,050,000 | $105,000 |
During 2022, Union City's most frequently originated rate bucket was 3-4%, with 112 originations.
Loan Sizing (Union City, TN MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 247 | $13,775,000 | $55,769 |
$100k-200k | 210 | $29,620,000 | $141,048 |
$200k-400k | 71 | $19,155,000 | $269,789 |
$400k-600k | 6 | $2,910,000 | $485,000 |
$600k-1000k | 2 | $1,300,000 | $650,000 |
Union City's loan sizing saw the bucket of loans from $100,000 or less with 247 originations, totaling $13,775,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 182 | $29,160,000 | $160,220 |
60-80% | 108 | $16,370,000 | $151,574 |
40-60% | 49 | $5,145,000 | $105,000 |
20-40% | 44 | $2,580,000 | $58,636 |
Under 20% | 38 | $1,160,000 | $30,526 |
Over 100% | 7 | $1,235,000 | $176,429 |
Union City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 182 originations, totaling $29,160,000 in origination value.