People’s Bank of Commerce Mortgage Interest Rate and Cost Review

Is People’s Bank of Commerce a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by People’s Bank of Commerce to those of other lenders for a comparable set of borrowers. Here is our review of People’s Bank of Commerce nationally:

Review ItemPeople’s Bank of Commerce
Interest Ratesimilar to other lenders (-0.06%)
Loan Related Closing Costslower than other lenders (-$279)
National Rate and Closing Cost Star Rating(4)

On average, People’s Bank of Commerce’s interest rates were similar to those of other lenders (-0.06%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$279. Overall, combining interest rates and closing costs we estimate that People’s Bank of Commerce tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit People’s Bank of Commerce, check out its website at:

People’s Bank of Commerce’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track People’s Bank of Commerce was most active in:

  1. Medford, OR
  2. Portland, OR
  3. Las Vegas, NV
  4. Los Angeles, CA
  5. Spokane, WA

People’s Bank of Commerce’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, People’s Bank of Commerce originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.10%-0.02%+0.00%
Loan Related Closing Cost Difference-$229-$88+$0
Cost Adjusted Rate Difference-0.11%-0.02%+0.00%
National Star Rating(4)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.04%-0.00%+0.03%-0.01%
Loan Related Closing Cost Difference-$331-$12-$66+$6
Cost Adjusted Rate Difference-0.07%-0.00%+0.02%-0.01%
Average Star Rating(4)(3.5)(3.5)(3.5)

As a summary, People’s Bank of Commerce is cheap for Conforming purchase mortgages. It is similar to other lenders for FHA and VA purchase mortgages. For refinancing mortgages, People’s Bank of Commerce is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about People’s Bank of Commerce:

Registered name: People’s Bank of Commerce
Registered city and state: MEDFORD, OR, 97504
Regulator: Federal Deposit Insurance Corporation (FDIC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for People’s Bank of Commerce’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.