What the pricing figures show
Last reviewed
The first screen of a lender page has a median interest rate and median total loan costs. This guide explains the two figures and the other price fields of HMDA.
Interest rate
The interest rate is the rate of the loan at closing, in percent a year.
The interest rate applicable to the approved application, or to the covered loan at closing or account opening.
Source: CFPB, Regulation C, 12 CFR 1003.4(a)(21), copied on .
The interest rate is not the annual percentage rate (APR). The lender discloses the APR to the borrower under Regulation Z. HMDA reports the interest rate and the rate spread, which uses the APR.
Total loan costs
The total loan costs are the costs that the borrower pays at or before closing, in dollars.
The amount, in dollars, of total loan costs
Source: FFIEC, Public HMDA - LAR Data Fields, copied on .
The sum of loan costs, calculated by totaling the amounts described in paragraphs (f)(1) through (3) of this section for costs designated borrower-paid at or before closing, labeled “Loan Costs Subtotals.”
Source: CFPB, Regulation Z, 12 CFR 1026.38(f)(5), copied on .
The total loan costs have three parts in the disclosure: the origination charges, and the costs of two groups of services. This site shows the origination charges apart.
Origination charges, discount points and lender credits
The total of all itemized amounts, in dollars, that are designated borrower-paid at or before closing
Source: FFIEC, Public HMDA - LAR Data Fields, copied on .
The points paid, in dollars, to the creditor to reduce the interest rate
Source: FFIEC, Public HMDA - LAR Data Fields, copied on .
The amount, in dollars, of lender credits
Source: FFIEC, Public HMDA - LAR Data Fields, copied on .
Many loans have no discount points and no lender credits. The site shows the median of the loans that report an amount, and gives their count in the table.
The loans in a median
Medians are for originated closed-end loans with a first lien. Reverse mortgages, open-end lines of credit and loans for a business purpose are not in the medians. A median needs 20 loans or more. A loan is in the median of a field only when HMDA gives a number for that field.
A median is the middle value of the loans that a lender closed in 2025. It is not the rate that the lender offers now. It does not show the price of one loan. The public file has no credit score.
When a lender files "Exempt"
Some lenders leave out the price fields. A lender of this kind has no median on its page.
A lender with a partial exemption can file “Exempt” in place of the interest rate, the total loan costs and some other fields. The glossary has the rule.
If a financial institution is eligible for a partial exemption for a specific transaction, then the financial institution is not required to collect, record, or report certain data points for the transaction.
Source: CFPB, A Beginner’s Guide to Accessing and Using Home Mortgage Disclosure Act Data (June 2022), copied on .
The national medians
| Figure | Median | Loans with a value |
|---|---|---|
| Interest rate | 6.375% | 4,353,042 |
| Total loan costs | $6,413 | 4,228,870 |
| Origination charges | $2,062 | 4,268,000 |
| Discount points, of the loans with points | $2,823 | 2,237,868 |
| Lender credits, of the loans with credits | $567 | 1,545,397 |
| Loan term | 360 months | 4,349,882 |
| Rate spread, points | 0.161 | 4,267,031 |
Sources
This guide follows these pages. Each was read on 2 October 2026.