Worthington Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Worthington averaged 6.74% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

    The average rate for the prior week (2023-03-16) was 7.02% and one month ago for the week of 2023-02-16, the average rate was 6.34%.

    Worthington's average rate one year ago was 4.44%.

    For refis of the same type during the week of 2023-03-23, the average rate was 7.05%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-23 6.42%
    Worthington 30 Year Fixed Rate 2023-03-23 6.74%
    Worthington 30 Year Fixed Rate Refi 2023-03-23 7.05%
    Worthington 15 Year Fixed Rate 2023-03-23 6.53%
    Worthington 15 Year Fixed Rate Refi 2023-03-23 6.5%
    Worthington 30 Year FHA 2023-03-23 6.33%
    Worthington 30 Year FHA Refi 2023-03-23 5.81%
    Worthington 30 Year USDA 2023-03-23 6.19%
    Worthington 30 Year USDA Refi 2023-03-23 6.28%
    Worthington 30 Year VA 2023-03-23 6.19%
    Worthington 30 Year VA Refi 2023-03-23 3.91%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Worthington, MN.

    Worthington 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 Worthington, MN 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Plains Commerce Bank 16 4.93% $4,993
    American Bank & Trust 14 4.65% $3,354
    COMPEER FINANCIAL, FLCA 9 5.96% $5,064
    Wells Fargo Bank 6 5.92% $3,422
    Servion, Inc. 4 4.25% $4,840
    QUICKEN LOANS, LLC 4 5.31% $7,884
    Bank Midwest 3 5.37% $4,075
    Royal Credit Union 2 5.75% $5,320
    UNITED WHOLESALE MORTGAGE, LLC 2 4.69% $5,776
    AMERISAVE MORTGAGE CORPORATION 2 4.75% $8,035
    GUARANTEED RATE, INC. 2 6.04% $4,389
    NAVY FEDERAL CREDIT UNION 2 4.88% $3,991
    Bank of the West 2 6.00% $3,096
    Reliabank Dakota 1 6.13% $2,571
    FREEDOM MORTGAGE CORPORATION 1 6.88% $4,959
    AMERICAN FINANCING CORPORATION 1 5.99% $8,154
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 6.75% $5,039
    Carrington Mortgage Services, LLC 1 5.38% $3,260
    CROSSCOUNTRY MORTGAGE, LLC 1 5.99% $4,193
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.88% $5,572
    First International Bank & Trust 1 6.50% $2,167
    First Interstate Bank 1 4.50% $3,148
    Alerus Financial 1 5.63% $7,049
    HOME POINT FINANCIAL CORPORATION 1 3.25% $14,704
    JPMorgan Chase Bank 1 4.88% $4,679
    Minnwest Bank 1 5.13% $3,857
    M&T Bank 1 5.63% $7,895

    Worthington Average Closing Costs & Other Stats

    Worthington, MN's 27 lenders originated 190 loans during 2022. The total origination value was $33,410,000, with an average loan value of $175,842.

    Worthington's average closing costs are $4,923.

    The top Worthington lender as defined by loan originations is Plains Commerce Bank, with 16 loans originated. Their average total fees are $4,993, which is $1,639 higher than the next largest lender, American Bank & Trust.

    The lowest fee Worthington lenders (with over 10 loans originated) are American Bank & Trust ($3,354), Plains Commerce Bank ($4,993), .

    The lowest rate Worthington lenders (with over 10 loans originated) are American Bank & Trust (4.65%), Plains Commerce Bank (4.93%), .

    Worthington, MN 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
    Plains Commerce Bank $12,970,000 $6,515,000 -49.8% 19.5%
    American Bank & Trust $665,000 $3,815,000 473.7% 11.4%
    COMPEER FINANCIAL, FLCA $4,015,000 $3,595,000 -10.5% 10.8%
    QUICKEN LOANS, LLC $4,530,000 $2,185,000 -51.8% 6.5%
    Wells Fargo Bank $2,165,000 $1,600,000 -26.1% 4.8%
    Servion, Inc. $2,095,000 $1,595,000 -23.9% 4.8%
    GUARANTEED RATE, INC. $1,250,000 $1,195,000 -4.4% 3.6%
    BROKER SOLUTIONS, INC. $520,000 $895,000 72.1% 2.7%
    AMERISAVE MORTGAGE CORPORATION $795,000 n/a 2.4%
    UNITED WHOLESALE MORTGAGE, LLC $770,000 $715,000 -7.1% 2.1%
    First Interstate Bank $650,000 n/a 1.9%
    Royal Credit Union $620,000 n/a 1.9%
    Bank Midwest $155,000 $585,000 277.4% 1.8%
    Mortgages Unlimited Inc. $530,000 $585,000 10.4% 1.8%
    First International Bank & Trust $390,000 $570,000 46.2% 1.7%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,125,000 $555,000 -50.7% 1.7%
    PENNYMAC LOAN SERVICES, LLC $220,000 $495,000 125.0% 1.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $175,000 $485,000 177.1% 1.5%
    Reliabank Dakota $1,140,000 $460,000 -59.6% 1.4%
    FREEDOM MORTGAGE CORPORATION $470,000 $405,000 -13.8% 1.2%
    CROSSCOUNTRY MORTGAGE, LLC $330,000 $380,000 15.2% 1.1%
    M&T Bank $380,000 n/a 1.1%
    Alerus Financial $115,000 $345,000 200.0% 1.0%
    Mortgage Research Center, LLC $315,000 $340,000 7.9% 1.0%
    Bank of the West $1,160,000 $325,000 -72.0% 1.0%
    Bell Bank $330,000 $325,000 -1.5% 1.0%
    First Savings Bank $325,000 n/a 1.0%
    NAVY FEDERAL CREDIT UNION $325,000 n/a 1.0%
    HOME POINT FINANCIAL CORPORATION $730,000 $315,000 -56.8% 0.9%
    Summit Mortgage Corporation $315,000 n/a 0.9%
    Security Savings Bank $200,000 n/a 0.6%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $165,000 n/a 0.5%
    IOWA BANKERS MORTGAGE CORPORATION $555,000 $165,000 -70.3% 0.5%
    EMM LOANS LLC $155,000 n/a 0.5%
    Minnwest Bank $145,000 n/a 0.4%
    Merchants Bank $140,000 n/a 0.4%
    AMERICAN FINANCING CORPORATION $105,000 $135,000 28.6% 0.4%
    Citizens Bank $185,000 $125,000 -32.4% 0.4%
    Premier Bank $45,000 $125,000 177.8% 0.4%
    JPMorgan Chase Bank $325,000 $115,000 -64.6% 0.3%
    U.S. Bank $725,000 $105,000 -85.5% 0.3%
    Bank of America $55,000 n/a 0.2%
    Carrington Mortgage Services, LLC $55,000 n/a 0.2%
    Discover Bank $85,000 $35,000 -58.8% 0.1%

    Worthington's top lender by overall market share is Plains Commerce Bank, with 19.5% market share. In second place, with 11.4%, is American Bank & Trust, having originated $3,815,000 in loans. In third place, with 10.8%, is COMPEER FINANCIAL, FLCA, having originated $3,595,000 in loans. In fourth place, with 6.5%, is QUICKEN LOANS, LLC, having originated $2,185,000 in loans. In fifth place, with 4.8%, is Wells Fargo Bank, having originated $1,600,000 in loans.

    Worthington Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Worthington (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 $169,600 (41.5%) $163,064 (15.7%) 0.00 36
    2018-02-01 $156,575 (39.3%) $164,175 (27.1%) 0.00 38
    2018-03-01 $160,950 (34.2%) $167,361 (17.9%) 0.00 40
    2018-04-01 $167,750 (19.9%) $167,629 (-1.3%) 0.00 44
    2018-05-01 $176,850 (13.1%) $171,155 (-11.9%) 0.00 49
    2018-06-01 $175,000 (27.0%) $171,082 (-13.3%) 0.00 50
    2018-07-01 $167,500 (25.1%) $172,571 (-12.0%) 0.00 62
    2018-08-01 $179,900 (31.4%) $179,422 (4.9%) 0.00 65
    2018-09-01 $169,000 (33.1%) $174,984 (7.3%) 0.00 62
    2018-10-01 $159,600 (22.9%) $163,450 (0.9%) 0.00 63
    2018-11-01 $159,900 (21.8%) $172,535 (9.4%) 0.00 59
    2018-12-01 $162,400 (1.6%) $179,222 (10.2%) 0.00 58
    2019-01-01 $167,450 (-1.3%) $181,647 (11.4%) 0.00 50
    2019-02-01 $176,225 (12.6%) $183,358 (11.7%) 0.00 47
    2019-03-01 $182,400 (13.3%) $189,176 (13.0%) 0.00 48
    2019-04-01 $184,275 (9.9%) $196,049 (17.0%) 0.00 54
    2019-05-01 $173,050 (-2.2%) $185,142 (8.2%) 0.00 70
    2019-06-01 $177,450 (1.4%) $183,669 (7.4%) 0.00 75
    2019-07-01 $169,900 (1.4%) $176,433 (2.2%) 0.00 74
    2019-08-01 $173,082 (-3.8%) $176,309 (-1.7%) 0.00 75
    2019-09-01 $174,105 (3.0%) $175,039 (0.0%) 0.00 70
    2019-10-01 $174,900 (9.6%) $174,782 (6.9%) 0.00 64
    2019-11-01 $169,900 (6.3%) $167,930 (-2.7%) 0.00 53
    2019-12-01 $167,175 (2.9%) $169,638 (-5.4%) 0.00 53
    2020-01-01 $177,200 (5.8%) $176,385 (-2.9%) 0.00 48
    2020-02-01 $177,450 (0.7%) $176,065 (-4.0%) 0.00 42
    2020-03-01 $186,200 (2.1%) $181,885 (-3.9%) 0.00 45
    2020-04-01 $185,700 (0.8%) $185,132 (-5.6%) 0.00 44
    2020-05-01 $179,500 (3.7%) $183,000 (-1.2%) 0.00 39
    2020-06-01 $186,825 (5.3%) $183,191 (-0.3%) 0.00 40
    2020-07-01 $180,450 (6.2%) $183,862 (4.2%) 0.00 41
    2020-08-01 $183,700 (6.1%) $194,606 (10.4%) 0.00 41
    2020-09-01 $224,950 (29.2%) $228,860 (30.8%) 0.00 38
    2020-10-01 $189,900 (8.6%) $234,189 (34.0%) 0.00 39
    2020-11-01 $174,250 (2.6%) $233,421 (39.0%) 0.00 37
    2020-12-01 $174,850 (4.6%) $237,565 (40.0%) 0.00 33
    2021-01-01 $175,000 (-1.2%) $237,303 (34.5%) 0.00 37
    2021-02-01 $177,300 (-0.1%) $243,265 (38.2%) 0.00 32
    2021-03-01 $210,325 (13.0%) $251,509 (38.3%) 0.00 23
    2021-04-01 $167,450 (-9.8%) $217,154 (17.3%) 0.00 21
    2021-05-01 $222,250 (23.8%) $233,010 (27.3%) 0.00 26
    2021-06-01 $202,500 (8.4%) $226,969 (23.9%) 0.00 21
    2021-07-01 $175,000 (-3.0%) $225,041 (22.4%) 0.00 16
    2021-08-01 $188,250 (2.5%) $233,086 (19.8%) 0.00 21
    2021-09-01 $249,575 (11.0%) $252,377 (10.3%) 0.00 25
    2021-10-01 $199,900 (5.3%) $242,744 (3.7%) 0.00 28
    2021-11-01 $188,075 (7.9%) $216,630 (-7.2%) 0.00 20
    2021-12-01 $194,900 (11.5%) $194,032 (-18.3%) 0.00 16
    2022-01-01 $229,500 (31.1%) $209,667 (-11.7%) 0.00 14
    2022-02-01 $186,000 (4.9%) $209,856 (-13.7%) 0.00 14
    2022-03-01 $174,900 (-16.8%) $200,106 (-20.4%) 0.00 17
    2022-04-01 $184,000 (9.9%) $231,543 (6.6%) 0.00 19
    2022-05-01 $204,700 (-7.9%) $234,439 (0.6%) 0.00 25
    2022-06-01 $234,800 (16.0%) $252,759 (11.4%) 0.00 27
    2022-07-01 $199,900 (14.2%) $240,500 (6.9%) 0.00 36
    2022-08-01 $226,250 (20.2%) $244,314 (4.8%) 0.00 38
    2022-09-01 $264,575 (6.0%) $252,406 (0.0%) 0.00 33
    2022-10-01 $252,250 (26.2%) $252,103 (3.9%) 0.00 30
    2022-11-01 $245,875 (30.7%) $245,344 (13.3%) 0.00 30
    2022-12-01 $238,500 (22.4%) $238,000 (22.7%) 0.00 27
    2023-01-01 $241,075 (5.0%) $232,353 (10.8%) 0.00 25
    2023-02-01 $187,225 (0.7%) $216,233 (3.0%) 0.00 24
    Worthington's median listing price for 2023-02-01 was $187,225, a difference of $1,225 (0.7%) versus the prior year and $-53,850 versus the prior month.

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

    Worthington's average listing price for 2023-02-01 was $216,233, a difference of $6,377 (3.0%) versus the prior year and $-16,120 versus the prior month.

    For the 2023-02-01 period, Worthington had 24 MLS listings, a difference of -1 listings (-4%) versus the prior month and 10 listings (71%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Worthington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,304 sqft
    2018-02-01 0 days 2,412 sqft
    2018-03-01 0 days 2,384 sqft
    2018-04-01 0 days 2,326 sqft
    2018-05-01 0 days 2,257 sqft
    2018-06-01 0 days 2,211 sqft
    2018-07-01 0 days 2,080 sqft
    2018-08-01 0 days 2,126 sqft
    2018-09-01 0 days 2,090 sqft
    2018-10-01 0 days 2,114 sqft
    2018-11-01 0 days 2,142 sqft
    2018-12-01 0 days 2,284 sqft
    2019-01-01 0 days 2,437 sqft
    2019-02-01 0 days 2,396 sqft
    2019-03-01 0 days 2,169 sqft
    2019-04-01 0 days 1,974 sqft
    2019-05-01 0 days 1,852 sqft
    2019-06-01 0 days 1,871 sqft
    2019-07-01 0 days 1,877 sqft
    2019-08-01 0 days 1,910 sqft
    2019-09-01 0 days 1,946 sqft
    2019-10-01 0 days 1,980 sqft
    2019-11-01 0 days 1,879 sqft
    2019-12-01 0 days 1,875 sqft
    2020-01-01 0 days 2,019 sqft
    2020-02-01 0 days 1,988 sqft
    2020-03-01 0 days 2,019 sqft
    2020-04-01 0 days 2,016 sqft
    2020-05-01 0 days 2,024 sqft
    2020-06-01 0 days 2,103 sqft
    2020-07-01 0 days 1,934 sqft
    2020-08-01 0 days 2,129 sqft
    2020-09-01 0 days 2,235 sqft
    2020-10-01 0 days 2,120 sqft
    2020-11-01 0 days 1,740 sqft
    2020-12-01 0 days 1,616 sqft
    2021-01-01 0 days 1,738 sqft
    2021-02-01 0 days 1,833 sqft
    2021-03-01 0 days 1,852 sqft
    2021-04-01 0 days 1,821 sqft
    2021-05-01 0 days 1,928 sqft
    2021-06-01 0 days 1,756 sqft
    2021-07-01 0 days 1,611 sqft
    2021-08-01 0 days 1,939 sqft
    2021-09-01 0 days 1,995 sqft
    2021-10-01 0 days 1,937 sqft
    2021-11-01 0 days 1,873 sqft
    2021-12-01 0 days 1,826 sqft
    2022-01-01 0 days 1,516 sqft
    2022-02-01 0 days 2,178 sqft
    2022-03-01 0 days 2,057 sqft
    2022-04-01 0 days 2,068 sqft
    2022-05-01 0 days 1,601 sqft
    2022-06-01 0 days 1,684 sqft
    2022-07-01 0 days 1,634 sqft
    2022-08-01 0 days 1,863 sqft
    2022-09-01 0 days 1,663 sqft
    2022-10-01 0 days 1,823 sqft
    2022-11-01 0 days 1,744 sqft
    2022-12-01 0 days 1,702 sqft
    2023-01-01 0 days 1,655 sqft
    2023-02-01 0 days 1,574 sqft
    Worthington's median listing age (time on market) for 2023-02-01 was 0 days.

    Worthington's median square footage for active listings during the 2023-02-01 period was 1,574 sqft. One year prior, the average listing was 2,178 sqft.

    Worthington, MN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 121 $23,345,000 $192,934
    Cash Out Refi 38 $5,800,000 $152,632
    Refi 22 $3,180,000 $144,545
    Other 8 $980,000 $122,500
    Home Improvement 1 $105,000 $105,000

    Worthington's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 59 $10,845,000 $183,814
    4-5% 42 $7,290,000 $173,571
    3-4% 38 $6,470,000 $170,263
    6-7% 27 $5,005,000 $185,370
    2.5-3% 9 $1,345,000 $149,444
    7-8% 5 $1,555,000 $311,000
    <2.5% 4 $510,000 $127,500
    Over 8% 1 $35,000 $35,000

    During 2022, Worthington's most frequently originated rate bucket was 5-6%, with 59 originations.

    Loan Sizing (Worthington, MN MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 81 $11,955,000 $147,593
    $200k-400k 59 $16,245,000 $275,339
    $100,000 or less 45 $2,665,000 $59,222
    $400k-600k 4 $1,920,000 $480,000
    $600k-1000k 1 $625,000 $625,000

    Worthington's loan sizing saw the bucket of loans from $100k-200k with 81 originations, totaling $11,955,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 100 $20,350,000 $203,500
    60-80% 53 $9,675,000 $182,547
    40-60% 16 $2,040,000 $127,500
    Under 20% 11 $275,000 $25,000
    20-40% 5 $355,000 $71,000
    Over 100% 2 $390,000 $195,000

    Worthington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 100 originations, totaling $20,350,000 in origination value.