Washington Mortgage Rates

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Loan Attributes
  • Market Conditions & Pricing
  • Time on Market/Property Size
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Washington averaged 6.04% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

    The average rate for the prior week (2022-06-23) was 6.45% and one month ago for the week of 2022-05-26, the average rate was 5.64%.

    Washington's average rate one year ago was 3.29%.

    For refis of the same type during the week of 2022-06-30, the average rate was 5.71%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-30 5.7%
    Washington 30 Year Fixed Rate 2022-06-30 6.04%
    Washington 30 Year Fixed Rate Refi 2022-06-30 5.71%
    Washington 15 Year Fixed Rate 2022-06-30 5.42%
    Washington 15 Year Fixed Rate Refi 2022-06-30 5.45%
    Washington 30 Year FHA 2022-06-30 5.66%
    Washington 30 Year FHA Refi 2022-06-30 5.87%
    Washington 30 Year USDA 2022-06-30 5.64%
    Washington 30 Year USDA Refi 2022-06-30 5.74%
    Washington 30 Year VA 2022-06-30 5.89%
    Washington 30 Year VA Refi 2022-06-30 5.2%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Washington, IN.

    Washington 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 Washington, IN 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
    EVANSVILLE TEACHERS 39 3.06% $2,260
    First Federal Savings Bank 33 3.13% $1,311
    German American Bank 28 2.94% $2,634
    CRANE 25 3.42% $1,756
    First Savings Bank 18 3.58% $2,074
    QUICKEN LOANS, LLC 15 3.17% $5,897
    Farm Credit Mid-America, ACA 10 3.38% $5,813
    RUOFF MORTGAGE COMPANY, INC. 8 3.25% $2,153
    Old National Bank 8 3.38% $1,690
    Wells Fargo Bank 5 3.18% $3,478
    UNITED WHOLESALE MORTGAGE, LLC 4 3.02% $2,299
    LOANDEPOT.COM, LLC 3 3.46% $4,465
    NEWREZ LLC 3 3.46% $3,832
    AMERICAN FINANCING CORPORATION 2 2.88% $4,204
    Fifth Third Bank 2 3.66% $1,961
    Flanagan State Bank 2 3.06% $1,920
    Mortgage Research Center, LLC 2 2.94% $2,058
    PLAZA HOME MORTGAGE, INC. 2 3.25% $4,515
    Regions Bank 2 3.19% $2,187
    GUARANTY HOME MORTGAGE CORPORATION 1 3.13% $4,142
    HOME POINT FINANCIAL CORPORATION 1 3.49% $1,293
    Horizon Bank 1 4.25% $4,501
    INTERCAP LENDING INC. 1 3.25% $2,978
    INTERLINC MORTGAGE SERVICES, LLC 1 3.25% $3,434
    CROSSCOUNTRY MORTGAGE, LLC 1 3.38% $2,857
    MEMBER FIRST MORTGAGE, LLC 1 4.50% $2,357
    MORTGAGE MASTERS OF INDIANA, INC. 1 2.88% $2,889
    Truist Bank 1 3.10% $2,541
    Mr. Cooper ( Nationstar Mortgage ) 1 3.38% $3,035
    NAVY FEDERAL CREDIT UNION 1 4.00% $1,064
    Colten Mortgage, LLC 1 3.25% $3,338
    Northpointe Bank 1 3.25% $4,983
    Northwest Bank 1 3.50% $2,509
    OCMBC, INC. 1 3.00% $11,504
    Century Mortgage Company DBA Century Lending Company 1 2.99% $2,472
    PLANET HOME LENDING, LLC 1 3.25% $2,121
    AMERISAVE MORTGAGE CORPORATION 1 2.63% $10,856
    PNC Bank 1 3.50% $2,237
    BROKER SOLUTIONS, INC. 1 3.13% $5,599
    AMERIFIRST FINANCIAL CORPORATION 1 3.38% $3,868
    Bank of America 1 2.88% $2,559
    First Financial Bank 1 3.00% $2,255
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.50% $4,484
    FREEDOM MORTGAGE CORPORATION 1 3.75% $2,895
    FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $2,836

    Washington, IN's 45 lenders originated 869 loans during 2021. The total origination value was $128,295,000, with an average loan value of $147,635.

    The top Washington lender as defined by loan originations is EVANSVILLE TEACHERS, with 39 loans originated. Their average total fees are $2,260, which is $949 higher than the next largest lender, First Federal Savings Bank.

    The lowest fee Washington lenders (with over 10 loans originated) are First Federal Savings Bank ($1,311), CRANE ($1,756), First Savings Bank ($2,074), EVANSVILLE TEACHERS ($2,260) and German American Bank ($2,634).

    The lowest rate Washington lenders (with over 10 loans originated) are German American Bank (2.94%), EVANSVILLE TEACHERS (3.06%), First Federal Savings Bank (3.13%), QUICKEN LOANS, LLC (3.17%) and Farm Credit Mid-America, ACA (3.38%).

    Washington, IN 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
    German American Bank $26,840,000 $28,845,000 7.5% 22.5%
    EVANSVILLE TEACHERS $17,910,000 $15,535,000 -13.3% 12.1%
    CRANE $9,030,000 $9,095,000 0.7% 7.1%
    First Federal Savings Bank $10,630,000 $8,415,000 -20.8% 6.6%
    QUICKEN LOANS, LLC $6,370,000 $8,190,000 28.6% 6.4%
    Old National Bank $5,965,000 $5,775,000 -3.2% 4.5%
    Lake City Bank $4,805,000 n/a 3.7%
    First Savings Bank $2,250,000 $4,625,000 105.6% 3.6%
    Farm Credit Mid-America, ACA $6,770,000 $3,405,000 -49.7% 2.7%
    FREEDOM MORTGAGE CORPORATION $2,140,000 $3,200,000 49.5% 2.5%
    PLAZA HOME MORTGAGE, INC. $390,000 $3,190,000 717.9% 2.5%
    HOME POINT FINANCIAL CORPORATION $805,000 $3,110,000 286.3% 2.4%
    RUOFF MORTGAGE COMPANY, INC. $2,770,000 $3,030,000 9.4% 2.4%
    PNC Bank $225,000 $1,920,000 753.3% 1.5%
    Mortgage Research Center, LLC $1,615,000 $1,835,000 13.6% 1.4%
    LOANDEPOT.COM, LLC $1,295,000 $1,555,000 20.1% 1.2%
    Wells Fargo Bank $475,000 $1,470,000 209.5% 1.1%
    PENNYMAC LOAN SERVICES, LLC $305,000 $1,255,000 311.5% 1.0%
    UNITED WHOLESALE MORTGAGE, LLC $330,000 $1,095,000 231.8% 0.9%
    CALIBER HOME LOANS, INC. $210,000 $860,000 309.5% 0.7%
    HALLMARK HOME MORTGAGE, LLC $215,000 $850,000 295.3% 0.7%
    NEWREZ LLC $110,000 $740,000 572.7% 0.6%
    Regions Bank $770,000 $710,000 -7.8% 0.6%
    PLANET HOME LENDING, LLC $125,000 $680,000 444.0% 0.5%
    MORTGAGE MASTERS OF INDIANA, INC. $370,000 $505,000 36.5% 0.4%
    LAKEVIEW LOAN SERVICING, LLC $370,000 $450,000 21.6% 0.4%
    Fifth Third Bank $475,000 $435,000 -8.4% 0.3%
    First Financial Bank $55,000 $435,000 690.9% 0.3%
    USAA Federal Savings Bank $1,025,000 $435,000 -57.6% 0.3%
    Bank of England $95,000 $430,000 352.6% 0.3%
    BROKER SOLUTIONS, INC. $500,000 $410,000 -18.0% 0.3%
    NAVY FEDERAL CREDIT UNION $430,000 $380,000 -11.6% 0.3%
    Flanagan State Bank $435,000 $355,000 -18.4% 0.3%
    FINANCE OF AMERICA MORTGAGE LLC $325,000 n/a 0.3%
    AMERICAN FINANCING CORPORATION $320,000 n/a 0.2%
    AMERIFIRST FINANCIAL CORPORATION $345,000 $305,000 -11.6% 0.2%
    INTERLINC MORTGAGE SERVICES, LLC $305,000 n/a 0.2%
    SOVEREIGN LENDING GROUP INCORPORATED $265,000 $305,000 15.1% 0.2%
    Bank of America $295,000 n/a 0.2%
    VILLAGE CAPITAL & INVESTMENT LLC $145,000 $290,000 100.0% 0.2%
    EVERETT FINANCIAL, INC. $285,000 n/a 0.2%
    Owen County State Bank $285,000 n/a 0.2%
    SOUTHWEST FUNDING, LP $285,000 n/a 0.2%
    ACCELERATE MORTGAGE, LLC $275,000 n/a 0.2%
    ARC HOME LLC $275,000 n/a 0.2%
    First Bank Richmond $275,000 n/a 0.2%
    BETTER MORTGAGE CORPORATION $265,000 n/a 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $260,000 n/a 0.2%
    Equity Prime Mortgage LLC $260,000 n/a 0.2%
    Northwest Bank $85,000 $260,000 205.9% 0.2%
    AMERICAN MORTGAGE SERVICE COMPANY $995,000 $250,000 -74.9% 0.2%
    First Guaranty Mortgage Corporation $125,000 $245,000 96.0% 0.2%
    INTERCAP LENDING INC. $235,000 n/a 0.2%
    AMERISAVE MORTGAGE CORPORATION $205,000 n/a 0.2%
    KeyBank $225,000 $205,000 -8.9% 0.2%
    NEW DAY FINANCIAL, LLC $385,000 $205,000 -46.8% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $615,000 $200,000 -67.5% 0.2%
    OCMBC, INC. $195,000 n/a 0.2%
    OPEN MORTGAGE, LLC $195,000 n/a 0.2%
    Heritage Federal Credit Union $320,000 $190,000 -40.6% 0.1%
    Barrington Bank & Trust Company, N.A. $185,000 n/a 0.1%
    CHURCHILL MORTGAGE CORPORATION $435,000 $185,000 -57.5% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $185,000 n/a 0.1%
    AmeriHome Mortgage Company, LLC $165,000 $165,000 0.0% 0.1%
    The Federal Savings Bank $480,000 $165,000 -65.6% 0.1%
    Carrington Mortgage Services, LLC $280,000 $160,000 -42.9% 0.1%
    First Federal Bank $165,000 $155,000 -6.1% 0.1%
    Independent Federal Credit Union $155,000 n/a 0.1%
    MID AMERICA MORTGAGE, INC. $155,000 n/a 0.1%
    GUARANTY HOME MORTGAGE CORPORATION $145,000 n/a 0.1%
    Colten Mortgage, LLC $135,000 n/a 0.1%
    JPMorgan Chase Bank $410,000 $135,000 -67.1% 0.1%
    Northpointe Bank $135,000 n/a 0.1%
    U.S. Bank $235,000 $135,000 -42.6% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $125,000 n/a 0.1%
    CREDIT HUMAN FEDERAL CREDIT UNION $105,000 n/a 0.1%
    Ally Bank $95,000 n/a 0.1%
    MEMBER FIRST MORTGAGE, LLC $95,000 n/a 0.1%
    PENTAGON FEDERAL CREDIT UNION $95,000 n/a 0.1%
    SUCCESS MORTGAGE PARTNERS, INC. $425,000 $95,000 -77.6% 0.1%
    Horizon Bank $155,000 $85,000 -45.2% 0.1%
    Figure Lending LLC $25,000 $80,000 220.0% 0.1%
    The Huntington National Bank $175,000 $75,000 -57.1% 0.1%
    Truist Bank $65,000 n/a 0.1%
    Century Mortgage Company DBA Century Lending Company $55,000 n/a 0.0%
    Discover Bank $85,000 $55,000 -35.3% 0.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $550,000 $55,000 -90.0% 0.0%

    Washington's top lender by overall market share is German American Bank, with 22.5% market share. In second place, with 12.1%, is EVANSVILLE TEACHERS, having originated $15,535,000 in loans. In third place, with 7.1%, is CRANE, having originated $9,095,000 in loans. In third place, with 6.6%, is First Federal Savings Bank, having originated $8,415,000 in loans. In third place, with 6.4%, is QUICKEN LOANS, LLC, having originated $8,190,000 in loans.

    Washington, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Refi 334 $47,880,000 $143,353
    Home Purchase 263 $49,335,000 $187,586
    Cash Out Refi 166 $22,440,000 $135,181
    Other 68 $5,840,000 $85,882
    Home Improvement 38 $2,800,000 $73,684

    Washington's most frequently cited loan purpose was Refi, with 334 originations. The 2nd most popular reason was Home Purchase, with 263 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 315 $47,125,000 $149,603
    2.5-3% 285 $43,415,000 $152,333
    <2.5% 179 $23,175,000 $129,469
    4-5% 72 $13,290,000 $184,583
    5-6% 9 $465,000 $51,667
    Over 8% 4 $170,000 $42,500
    6-7% 2 $150,000 $75,000
    7-8% 1 $125,000 $125,000

    During 2021, Washington's most frequently originated rate bucket was 3-4%, with 315 originations.

    Loan Sizing (Washington, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 367 $52,745,000 $143,719
    $100,000 or less 319 $19,415,000 $60,862
    $200k-400k 171 $44,535,000 $260,439
    $400k-600k 8 $3,750,000 $468,750
    $600k-1000k 2 $1,360,000 $680,000
    $Over $1MM 2 $6,490,000 $3,245,000

    Washington's loan sizing saw the bucket of loans from $100k-200k with 367 originations, totaling $52,745,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 272 $52,570,000 $193,272
    60-80% 220 $38,870,000 $176,682
    20-40% 135 $10,785,000 $79,889
    40-60% 134 $17,570,000 $131,119
    Under 20% 80 $3,380,000 $42,250
    Over 100% 4 $940,000 $235,000

    Washington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 272 originations, totaling $52,570,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Washington (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 $139,450 (36.5%) $171,582 (38.3%) 0.00 69
    2018-02-01 $136,250 (41.2%) $170,060 (38.7%) 0.00 72
    2018-03-01 $143,900 (48.8%) $175,871 (41.4%) 0.00 71
    2018-04-01 $147,500 (53.8%) $171,139 (40.3%) 0.00 77
    2018-05-01 $149,500 (42.5%) $179,282 (42.7%) 0.00 76
    2018-06-01 $142,900 (24.3%) $173,507 (37.8%) 0.00 78
    2018-07-01 $141,400 (18.3%) $177,939 (28.1%) 0.00 74
    2018-08-01 $144,900 (19.8%) $186,031 (33.0%) 0.00 75
    2018-09-01 $151,700 (21.5%) $188,409 (29.9%) 0.00 76
    2018-10-01 $159,900 (26.7%) $180,836 (13.8%) 0.00 77
    2018-11-01 $162,400 (20.4%) $184,447 (11.0%) 0.00 72
    2018-12-01 $159,900 (18.5%) $192,753 (14.4%) 0.00 68
    2019-01-01 $148,950 (6.8%) $187,439 (9.2%) 0.00 67
    2019-02-01 $145,950 (7.1%) $185,514 (9.1%) 0.00 56
    2019-03-01 $156,814 (9.0%) $198,636 (12.9%) 0.00 54
    2019-04-01 $168,264 (14.1%) $206,814 (20.9%) 0.00 49
    2019-05-01 $141,200 (-5.6%) $184,195 (2.7%) 0.00 54
    2019-06-01 $145,000 (1.5%) $171,900 (-0.9%) 0.00 61
    2019-07-01 $148,900 (5.3%) $162,499 (-8.7%) 0.00 58
    2019-08-01 $137,329 (-5.2%) $161,120 (-13.4%) 0.00 67
    2019-09-01 $132,879 (-12.4%) $161,067 (-14.5%) 0.00 67
    2019-10-01 $131,950 (-17.5%) $168,122 (-7.0%) 0.00 59
    2019-11-01 $119,500 (-26.4%) $166,793 (-9.6%) 0.00 58
    2019-12-01 $122,450 (-23.4%) $169,230 (-12.2%) 0.00 52
    2020-01-01 $122,250 (-17.9%) $168,472 (-10.1%) 0.00 50
    2020-02-01 $119,900 (-17.9%) $171,310 (-7.7%) 0.00 48
    2020-03-01 $160,000 (2.0%) $215,526 (8.5%) 0.00 46
    2020-04-01 $179,900 (6.9%) $222,820 (7.7%) 0.00 44
    2020-05-01 $165,000 (16.9%) $208,517 (13.2%) 0.00 42
    2020-06-01 $151,200 (4.3%) $212,320 (23.5%) 0.00 36
    2020-07-01 $157,500 (5.8%) $230,650 (41.9%) 0.00 33
    2020-08-01 $159,000 (15.8%) $220,844 (37.1%) 0.00 41
    2020-09-01 $161,400 (21.5%) $215,619 (33.9%) 0.00 42
    2020-10-01 $179,900 (36.3%) $208,631 (24.1%) 0.00 50
    2020-11-01 $189,500 (58.6%) $212,191 (27.2%) 0.00 46
    2020-12-01 $165,900 (35.5%) $200,213 (18.3%) 0.00 40
    2021-01-01 $171,900 (40.6%) $198,735 (18.0%) 0.00 34
    2021-02-01 $159,900 (33.4%) $204,238 (19.2%) 0.00 35
    2021-03-01 $147,000 (-8.1%) $189,590 (-12.0%) 0.00 30
    2021-04-01 $129,450 (-28.0%) $191,944 (-13.9%) 0.00 20
    2021-05-01 $145,900 (-11.6%) $212,858 (2.1%) 0.00 17
    2021-06-01 $179,900 (19.0%) $224,654 (5.8%) 0.00 25
    2021-07-01 $186,000 (18.1%) $228,184 (-1.1%) 0.00 30
    2021-08-01 $169,900 (6.9%) $218,705 (-1.0%) 0.00 41
    2021-09-01 $162,500 (0.7%) $241,159 (11.8%) 0.00 40
    2021-10-01 $189,500 (5.3%) $254,900 (22.2%) 0.00 34
    2021-11-01 $199,250 (5.2%) $247,542 (16.7%) 0.00 40
    2021-12-01 $199,250 (20.1%) $251,272 (25.5%) 0.00 45
    2022-01-01 $179,900 (4.7%) $240,960 (21.3%) 0.00 40
    2022-02-01 $162,500 (1.6%) $208,811 (2.2%) 0.00 33
    2022-03-01 $164,950 (12.2%) $221,173 (16.7%) 0.00 30
    2022-04-01 $184,900 (42.8%) $222,136 (15.7%) 0.00 33
    2022-05-01 $191,950 (31.6%) $237,978 (11.8%) 0.00 34
    2022-06-01 $169,900 (-5.6%) $213,482 (-5.0%) 0.00 38
    Washington's median listing price for 2022-06-01 was $169,900, a difference of $-10,000 (-5.6%) versus the prior year and $-22,050 versus the prior month.

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

    Washington's average listing price for 2022-06-01 was $213,482, a difference of $-11,172 (-5.0%) versus the prior year and $-24,496 versus the prior month.

    For the 2022-06-01 period, Washington had 38 MLS listings, a difference of 4 listings (12%) versus the prior month and 13 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Washington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,657 sqft
    2018-02-01 0 days 1,604 sqft
    2018-03-01 0 days 1,676 sqft
    2018-04-01 0 days 1,776 sqft
    2018-05-01 0 days 1,831 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,800 sqft
    2018-08-01 0 days 1,800 sqft
    2018-09-01 0 days 1,805 sqft
    2018-10-01 0 days 1,800 sqft
    2018-11-01 0 days 1,800 sqft
    2018-12-01 0 days 1,886 sqft
    2019-01-01 0 days 1,880 sqft
    2019-02-01 0 days 1,828 sqft
    2019-03-01 0 days 1,884 sqft
    2019-04-01 0 days 1,898 sqft
    2019-05-01 0 days 1,800 sqft
    2019-06-01 0 days 1,562 sqft
    2019-07-01 0 days 1,665 sqft
    2019-08-01 0 days 1,601 sqft
    2019-09-01 0 days 1,537 sqft
    2019-10-01 0 days 1,700 sqft
    2019-11-01 0 days 1,665 sqft
    2019-12-01 0 days 1,665 sqft
    2020-01-01 0 days 1,701 sqft
    2020-02-01 0 days 1,779 sqft
    2020-03-01 0 days 1,918 sqft
    2020-04-01 0 days 1,943 sqft
    2020-05-01 0 days 1,857 sqft
    2020-06-01 0 days 1,668 sqft
    2020-07-01 0 days 1,714 sqft
    2020-08-01 0 days 1,772 sqft
    2020-09-01 0 days 1,770 sqft
    2020-10-01 0 days 1,740 sqft
    2020-11-01 0 days 1,764 sqft
    2020-12-01 0 days 1,680 sqft
    2021-01-01 0 days 1,681 sqft
    2021-02-01 0 days 1,656 sqft
    2021-03-01 0 days 1,760 sqft
    2021-04-01 0 days 1,777 sqft
    2021-05-01 0 days 1,706 sqft
    2021-06-01 0 days 1,769 sqft
    2021-07-01 0 days 1,798 sqft
    2021-08-01 0 days 1,663 sqft
    2021-09-01 0 days 1,688 sqft
    2021-10-01 0 days 1,843 sqft
    2021-11-01 0 days 1,741 sqft
    2021-12-01 0 days 1,730 sqft
    2022-01-01 0 days 1,666 sqft
    2022-02-01 0 days 1,715 sqft
    2022-03-01 0 days 1,695 sqft
    2022-04-01 0 days 1,728 sqft
    2022-05-01 0 days 1,727 sqft
    2022-06-01 0 days 1,379 sqft
    Washington's median listing age (time on market) for 2022-06-01 was 0 days.

    Washington's median square footage for active listings during the 2022-06-01 period was 1,379 sqft. One year prior, the average listing was 1,769 sqft.