Woodward Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Woodward averaged
6.32%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
5.92% and
one month ago for the week of 2024-09-05, the
average rate was 6.15%.
Woodward's average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.62%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Woodward 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Woodward 30 Year Fixed Rate Refi | 2024-10-10 | 6.62% |
| Woodward 15 Year Fixed Rate | 2024-10-10 | 5.21% |
| Woodward 15 Year Fixed Rate Refi | 2024-10-10 | 5.91% |
| Woodward 30 Year FHA | 2024-10-10 | 6% |
| Woodward 30 Year FHA Refi | 2024-10-10 | 6.3% |
| Woodward 30 Year USDA | 2024-10-10 | 6.18% |
| Woodward 30 Year USDA Refi | 2024-10-10 | 5.88% |
| Woodward 30 Year VA | 2024-10-10 | 5.75% |
| Woodward 30 Year VA Refi | 2024-10-10 | 5.95% |
Woodward 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 Woodward, OK 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.).
Woodward Average Closing Costs & Other Stats
Woodward, OK's 29 lenders originated 232
loans during 2023. The total origination value was $34,800,000, with an average loan value of
$150,000.
Woodward's average closing costs are $4,597.
The top Woodward lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
10 loans originated. Their average total fees are
$5,227, which is $1,080
higher than the next largest lender,
Gateway First Bank.
The lowest fee Woodward lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY ($5,227), .
The lowest rate Woodward lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY (7.05%), .
Woodward, OK 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 |
|---|---|---|---|---|
| Great Plains National Bank | $6,420,000 | $4,070,000 | -36.6% | 11.7% |
| GUILD MORTGAGE COMPANY | $1,800,000 | $3,555,000 | 97.5% | 10.2% |
| Gateway First Bank | $2,185,000 | $3,195,000 | 46.2% | 9.2% |
| GUARANTEED RATE, INC. | $1,795,000 | $2,235,000 | 24.5% | 6.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $135,000 | $1,770,000 | 1,211.1% | 5.1% |
| Mortgage Research Center, LLC | $800,000 | $1,685,000 | 110.6% | 4.8% |
| Stride Bank | $1,425,000 | $1,595,000 | 11.9% | 4.6% |
| 13946 | $1,385,000 | n/a | 4.0% | |
| QUICKEN LOANS, LLC | $3,475,000 | $1,325,000 | -61.9% | 3.8% |
| MidFirst Bank | $7,720,000 | $1,300,000 | -83.2% | 3.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $570,000 | $1,275,000 | 123.7% | 3.7% |
| Bank 7 | $350,000 | $620,000 | 77.1% | 1.8% |
| INTERLINC MORTGAGE SERVICES, LLC | $85,000 | $620,000 | 629.4% | 1.8% |
| Paramount Residential Mortgage Group, Inc. | $580,000 | n/a | 1.7% | |
| UNION HOME MORTGAGE CORP. | $55,000 | $580,000 | 954.5% | 1.7% |
| TRIAD FINANCIAL SERVICES, INC. | $480,000 | n/a | 1.4% | |
| F & M Bank | $815,000 | $455,000 | -44.2% | 1.3% |
| BROKER SOLUTIONS, INC. | $525,000 | $395,000 | -24.8% | 1.1% |
| Arvest Bank | $75,000 | $330,000 | 340.0% | 0.9% |
| First United Bank and Trust Company | $715,000 | $310,000 | -56.6% | 0.9% |
| VALOR BANK | $305,000 | n/a | 0.9% | |
| GUARANTEED RATE AFFINITY, LLC | $295,000 | n/a | 0.8% | |
| PREMIA MORTGAGE, LLC | $295,000 | n/a | 0.8% | |
| Flagstar Bank, FSB | $750,000 | $265,000 | -64.7% | 0.8% |
| SOUTHWEST STAGE FUNDING, LLC | $250,000 | n/a | 0.7% | |
| Equity Bank | $240,000 | n/a | 0.7% | |
| NAVY FEDERAL CREDIT UNION | $790,000 | $225,000 | -71.5% | 0.6% |
| NBC Oklahoma | $195,000 | n/a | 0.6% | |
| OCMBC, INC. | $195,000 | n/a | 0.6% | |
| 21ST MORTGAGE CORPORATION | $365,000 | $190,000 | -47.9% | 0.5% |
| First Western Trust Bank | $185,000 | n/a | 0.5% | |
| HOMEXPRESS MORTGAGE CORP. | $185,000 | n/a | 0.5% | |
| MORTGAGE ACCESS CORP. | $175,000 | n/a | 0.5% | |
| The Huntington National Bank | $175,000 | n/a | 0.5% | |
| AMWEST FUNDING CORP. | $165,000 | n/a | 0.5% | |
| POLARIS HOME FUNDING CORP. | $165,000 | n/a | 0.5% | |
| MID AMERICA MORTGAGE, INC. | $205,000 | $160,000 | -22.0% | 0.5% |
| AMERICAN FINANCIAL NETWORK, INC. | $155,000 | n/a | 0.4% | |
| SWBC MORTGAGE CORPORATION | $155,000 | n/a | 0.4% | |
| WINGS FINANCIAL | $155,000 | n/a | 0.4% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $145,000 | n/a | 0.4% | |
| AMERISAVE MORTGAGE CORPORATION | $145,000 | n/a | 0.4% | |
| CORNERSTONE HOME LENDING, INC. | $175,000 | $145,000 | -17.1% | 0.4% |
| NEW DAY FINANCIAL, LLC | $135,000 | n/a | 0.4% | |
| OKLAHOMA'S | $125,000 | n/a | 0.4% | |
| OPEN MORTGAGE, LLC | $115,000 | n/a | 0.3% | |
| United Fidelity Funding Corp. | $115,000 | n/a | 0.3% | |
| FINANCIAL CONCEPTS MORTGAGE, LLC | $105,000 | n/a | 0.3% | |
| U.S. Bank | $310,000 | $100,000 | -67.7% | 0.3% |
| Access Community Credit Union | $95,000 | n/a | 0.3% | |
| Tinker Federal Credit Union | $95,000 | n/a | 0.3% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $75,000 | n/a | 0.2% | |
| BOKF | $95,000 | $75,000 | -21.1% | 0.2% |
| COMMUNICATION | $75,000 | n/a | 0.2% | |
| InterBank | $270,000 | $75,000 | -72.2% | 0.2% |
| Mortgage Investment Services Corporation | $1,220,000 | $75,000 | -93.9% | 0.2% |
| Bethpage Federal Credit Union | $55,000 | n/a | 0.2% | |
| HomeTrust Bank | $55,000 | n/a | 0.2% | |
| UMB Bank | $55,000 | n/a | 0.2% |
Woodward's top lender by overall market share is Great Plains National Bank, with 11.7% market share. In second place, with 10.2%, is GUILD MORTGAGE COMPANY, having originated $3,555,000 in loans. In third place, with 9.2%, is Gateway First Bank, having originated $3,195,000 in loans. In fourth place, with 6.4%, is GUARANTEED RATE, INC., having originated $2,235,000 in loans. In fifth place, with 5.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $1,770,000 in loans.
Woodward, OK Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 173 | $27,025,000 | $156,214 |
| Refi | 31 | $4,645,000 | $149,839 |
| Cash Out Refi | 13 | $2,075,000 | $159,615 |
| Other | 9 | $625,000 | $69,444 |
| Home Improvement | 6 | $430,000 | $71,667 |
Woodward's most frequently cited loan purpose was Home Purchase, with 173 originations. The 2nd most popular reason was Refi, with 31 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 82 | $12,170,000 | $148,415 |
| 7-8% | 65 | $11,495,000 | $176,846 |
| Over 8% | 33 | $3,065,000 | $92,879 |
| 5-6% | 27 | $4,695,000 | $173,889 |
| <2.5% | 3 | $125,000 | $41,667 |
During 2023, Woodward's most frequently originated rate bucket was 6-7%, with 82 originations.
Loan Sizing (Woodward, OK MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 112 | $16,070,000 | $143,482 |
| $100,000 or less | 80 | $5,180,000 | $64,750 |
| $200k-400k | 32 | $8,330,000 | $260,313 |
| $400k-600k | 4 | $1,790,000 | $447,500 |
| $600k-1000k | 3 | $2,325,000 | $775,000 |
| $Over $1MM | 1 | $1,105,000 | $1,105,000 |
Woodward's loan sizing saw the bucket of loans from $100k-200k with 112 originations, totaling $16,070,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 132 | $20,290,000 | $153,712 |
| 60-80% | 43 | $7,755,000 | $180,349 |
| 20-40% | 11 | $615,000 | $55,909 |
| 40-60% | 11 | $1,085,000 | $98,636 |
| Under 20% | 10 | $390,000 | $39,000 |
| Over 100% | 3 | $1,415,000 | $471,667 |
Woodward's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 132 originations, totaling $20,290,000 in origination value.