Washington Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Washington averaged
7.19%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
7.02% and
one month ago for the week of 2025-05-15, the
average rate was 6.79%.
Washington's average rate one year ago was 7.03%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.01%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Washington 30 Year Fixed Rate | 2025-06-18 | 7.19% |
| Washington 30 Year Fixed Rate Refi | 2025-06-18 | 7.01% |
| Washington 15 Year Fixed Rate | 2025-06-18 | 5.86% |
| Washington 15 Year Fixed Rate Refi | 2025-06-18 | 5.86% |
| Washington 30 Year FHA | 2025-06-18 | -0.1% |
| Washington 30 Year FHA Refi | 2025-06-18 | -0.2% |
| Washington 30 Year USDA | 2025-06-18 | 0% |
| Washington 30 Year USDA Refi | 2025-06-18 | -0.2% |
| Washington 30 Year VA | 2025-06-18 | 0.2% |
| Washington 30 Year VA Refi | 2025-06-18 | 0.1% |
Washington 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 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.).
Washington Average Closing Costs & Other Stats
Washington, IN's 35 lenders originated 527
loans during 2024. The total origination value was $93,455,000, with an average loan value of
$177,334.
Washington's average closing costs are $3,767.
The top Washington lender as defined by loan originations is German American Bank, with
32 loans originated. Their average total fees are
$3,577, which is $1,936
higher than the next largest lender,
CRANE.
The lowest fee Washington lenders (with over 10 loans originated) are
CRANE ($1,640), German American Bank ($3,577), .
The lowest rate Washington lenders (with over 10 loans originated) are
German American Bank (6.70%), CRANE (6.78%), .
Washington, IN 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| German American Bank | $23,995,000 | $23,325,000 | -2.8% | 25.0% |
| Merchants Bank of Indiana | $13,020,000 | n/a | 13.9% | |
| QUICKEN LOANS, LLC | $2,190,000 | $4,895,000 | 123.5% | 5.2% |
| Old National Bank | $3,220,000 | $4,405,000 | 36.8% | 4.7% |
| CRANE | $4,530,000 | $3,985,000 | -12.0% | 4.3% |
| Farm Credit Mid-America, ACA | $2,220,000 | $3,705,000 | 66.9% | 4.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,020,000 | $3,440,000 | -14.4% | 3.7% |
| Mortgage Research Center, LLC | $1,675,000 | $3,350,000 | 100.0% | 3.6% |
| First Savings Bank | $3,035,000 | $2,785,000 | -8.2% | 3.0% |
| PLAZA HOME MORTGAGE, INC. | $2,225,000 | $2,745,000 | 23.4% | 2.9% |
| EVANSVILLE TEACHERS | $3,145,000 | $2,015,000 | -35.9% | 2.2% |
| MORTGAGE MASTERS OF INDIANA, INC. | $910,000 | $1,950,000 | 114.3% | 2.1% |
| NAVY FEDERAL CREDIT UNION | $450,000 | $1,890,000 | 320.0% | 2.0% |
| FREEDOM MORTGAGE CORPORATION | $620,000 | $1,385,000 | 123.4% | 1.5% |
| RUOFF MORTGAGE COMPANY, INC. | $655,000 | $1,180,000 | 80.2% | 1.3% |
| First Federal Savings Bank | $3,335,000 | $1,140,000 | -65.8% | 1.2% |
| LAKEVIEW LOAN SERVICING, LLC | $975,000 | n/a | 1.0% | |
| Equity Prime Mortgage LLC | $980,000 | $970,000 | -1.0% | 1.0% |
| Flagstar Bank, FSB | $930,000 | n/a | 1.0% | |
| First Financial Bank | $100,000 | $680,000 | 580.0% | 0.7% |
| JPMorgan Chase Bank | $125,000 | $675,000 | 440.0% | 0.7% |
| NEWREZ LLC | $650,000 | n/a | 0.7% | |
| Regions Bank | $70,000 | $650,000 | 828.6% | 0.7% |
| BROKER SOLUTIONS, INC. | $470,000 | n/a | 0.5% | |
| Mr. Cooper ( Nationstar Mortgage ) | $195,000 | $435,000 | 123.1% | 0.5% |
| USAA Federal Savings Bank | $925,000 | $415,000 | -55.1% | 0.4% |
| AMERICAN FINANCIAL RESOURCES, INC. | $410,000 | n/a | 0.4% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $405,000 | n/a | 0.4% | |
| PREMIA MORTGAGE, LLC | $405,000 | n/a | 0.4% | |
| LOANDEPOT.COM, LLC | $525,000 | $400,000 | -23.8% | 0.4% |
| Union Savings Bank | $395,000 | n/a | 0.4% | |
| Barrington Bank & Trust Company, N.A. | $195,000 | $380,000 | 94.9% | 0.4% |
| Paramount Residential Mortgage Group, Inc. | $175,000 | $380,000 | 117.1% | 0.4% |
| Elements Financial Federal Credit Union | $375,000 | n/a | 0.4% | |
| First Federal Bank | $365,000 | n/a | 0.4% | |
| CARDINAL FINANCIAL | $360,000 | n/a | 0.4% | |
| Bank of England | $355,000 | n/a | 0.4% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $395,000 | $350,000 | -11.4% | 0.4% |
| GUILD MORTGAGE COMPANY | $225,000 | $345,000 | 53.3% | 0.4% |
| First State Bank | $335,000 | n/a | 0.4% | |
| PENNYMAC LOAN SERVICES, LLC | $275,000 | $290,000 | 5.5% | 0.3% |
| CMG MORTGAGE, INC. | $285,000 | n/a | 0.3% | |
| STOCKTON MORTGAGE CORPORATION | $605,000 | $285,000 | -52.9% | 0.3% |
| LNB COMMUNITY BANK | $275,000 | n/a | 0.3% | |
| 1ST SIGNATURE LENDING, LLC | $225,000 | $255,000 | 13.3% | 0.3% |
| Heritage Federal Credit Union | $235,000 | $245,000 | 4.3% | 0.3% |
| VILLAGE CAPITAL MORTGAGE | $235,000 | n/a | 0.3% | |
| Fifth Third Bank | $315,000 | $230,000 | -27.0% | 0.2% |
| Northpointe Bank | $205,000 | n/a | 0.2% | |
| SECURITYNATIONAL MORTGAGE COMPANY | $205,000 | n/a | 0.2% | |
| The Loan Store, Inc. | $200,000 | n/a | 0.2% | |
| The Federal Savings Bank | $195,000 | n/a | 0.2% | |
| Carrington Mortgage Services, LLC | $190,000 | n/a | 0.2% | |
| Security Federal Savings Bank | $185,000 | n/a | 0.2% | |
| AmeriHome Mortgage Company, LLC | $175,000 | n/a | 0.2% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $175,000 | n/a | 0.2% | |
| M&T Bank | $165,000 | n/a | 0.2% | |
| CHURCHILL MORTGAGE CORPORATION | $395,000 | $155,000 | -60.8% | 0.2% |
| Wells Fargo Bank | $45,000 | $150,000 | 233.3% | 0.2% |
| GUARANTEED RATE, INC. | $145,000 | n/a | 0.2% | |
| HOMEXPRESS MORTGAGE CORP. | $145,000 | n/a | 0.2% | |
| The Huntington National Bank | $145,000 | n/a | 0.2% | |
| First Financial Bank | $100,000 | $140,000 | 40.0% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $135,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $95,000 | $115,000 | 21.1% | 0.1% |
| Plains Commerce Bank | $115,000 | n/a | 0.1% | |
| Figure Lending LLC | $70,000 | $80,000 | 14.3% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $75,000 | n/a | 0.1% | |
| The National Bank of Indianapolis | $65,000 | n/a | 0.1% | |
| Parda Federal Credit Union | $55,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $420,000 | $45,000 | -89.3% | 0.0% |
| Centra Credit Union | $45,000 | n/a | 0.0% | |
| Northwest Bank | $145,000 | $45,000 | -69.0% | 0.0% |
| Discover Bank | $115,000 | $35,000 | -69.6% | 0.0% |
| United Community Bank | $35,000 | n/a | 0.0% | |
| Farmers and Mechanics Federal Savings Bank | $15,000 | $25,000 | 66.7% | 0.0% |
| Park Lane Finance Solutions, LLC | $25,000 | $15,000 | -40.0% | 0.0% |
Washington's top lender by overall market share is German American Bank, with 25.0% market share. In second place, with 13.9%, is Merchants Bank of Indiana, having originated $13,020,000 in loans. In third place, with 5.2%, is QUICKEN LOANS, LLC, having originated $4,895,000 in loans. In fourth place, with 4.7%, is Old National Bank, having originated $4,405,000 in loans. In fifth place, with 4.3%, is CRANE, having originated $3,985,000 in loans.
Washington, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 227 | $59,275,000 | $261,123 |
| Refi | 106 | $13,440,000 | $126,792 |
| Cash Out Refi | 85 | $10,395,000 | $122,294 |
| Other | 70 | $7,500,000 | $107,143 |
| Home Improvement | 39 | $2,845,000 | $72,949 |
Washington's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Refi, with 106 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 199 | $46,005,000 | $231,181 |
| 7-8% | 108 | $20,010,000 | $185,278 |
| Over 8% | 82 | $7,480,000 | $91,220 |
| <2.5% | 78 | $7,690,000 | $98,590 |
| 5-6% | 53 | $11,045,000 | $208,396 |
| 4-5% | 3 | $495,000 | $165,000 |
During 2024, Washington's most frequently originated rate bucket was 6-7%, with 199 originations.
Loan Sizing (Washington, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 191 | $27,905,000 | $146,099 |
| $100,000 or less | 187 | $9,445,000 | $50,508 |
| $200k-400k | 130 | $35,270,000 | $271,308 |
| $400k-600k | 16 | $7,100,000 | $443,750 |
| $Over $1MM | 2 | $13,020,000 | $6,510,000 |
| $600k-1000k | 1 | $715,000 | $715,000 |
Washington's loan sizing saw the bucket of loans from $100k-200k with 191 originations, totaling $27,905,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 164 | $34,920,000 | $212,927 |
| 20-40% | 97 | $9,115,000 | $93,969 |
| Under 20% | 91 | $4,405,000 | $48,407 |
| 60-80% | 84 | $16,480,000 | $196,190 |
| 40-60% | 66 | $13,710,000 | $207,727 |
| Over 100% | 8 | $11,380,000 | $1,422,500 |
Washington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 164 originations, totaling $34,920,000 in origination value.