Durango Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Durango averaged
7.03%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.56% and
one month ago for the week of 2024-10-03, the
average rate was 6.16%.
Durango's average rate one year ago was 7.7%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.69%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Durango 30 Year Fixed Rate | 2024-11-07 | 7.03% |
| Durango 30 Year Fixed Rate Refi | 2024-11-07 | 6.69% |
| Durango 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Durango 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Durango 30 Year FHA | 2024-11-07 | 6.63% |
| Durango 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Durango 30 Year USDA | 2024-11-07 | 6.68% |
| Durango 30 Year USDA Refi | 2024-11-07 | 6.58% |
| Durango 30 Year VA | 2024-11-07 | 6.54% |
| Durango 30 Year VA Refi | 2024-11-07 | 6.24% |
Durango 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 Durango, CO 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.).
Durango Average Closing Costs & Other Stats
Durango, CO's 105 lenders originated 1,087
loans during 2023. The total origination value was $415,235,000, with an average loan value of
$382,001.
Durango's average closing costs are $4,833.
The top Durango lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
149 loans originated. Their average total fees are
$6,989, which is $199
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Durango lenders (with over 10 loans originated) are
Morgan Stanley Private Bank ($3,843), Alpine Bank ($3,870), The Central Trust Bank ($4,161), Glacier Bank ($5,190) and Bank of Colorado ($6,282).
The lowest rate Durango lenders (with over 10 loans originated) are
Morgan Stanley Private Bank (5.80%), Century Mortgage Company DBA Century Lending Company (6.61%), QUICKEN LOANS, LLC (6.80%), UNITED WHOLESALE MORTGAGE, LLC (6.85%) and Bank of Colorado (6.89%).
Durango, CO 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 |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $127,870,000 | $87,905,000 | -31.3% | 21.2% |
| Bank of Colorado | $76,345,000 | $42,175,000 | -44.8% | 10.2% |
| The Central Trust Bank | $39,490,000 | $31,970,000 | -19.0% | 7.7% |
| QUICKEN LOANS, LLC | $27,470,000 | $27,170,000 | -1.1% | 6.5% |
| Alpine Bank | $69,655,000 | $21,100,000 | -69.7% | 5.1% |
| JPMorgan Chase Bank | $10,745,000 | $11,960,000 | 11.3% | 2.9% |
| Glacier Bank | $14,215,000 | $10,745,000 | -24.4% | 2.6% |
| Morgan Stanley Private Bank | $15,500,000 | $8,650,000 | -44.2% | 2.1% |
| CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION | $5,200,000 | $7,455,000 | 43.4% | 1.8% |
| NBH Bank | $5,485,000 | $4,885,000 | -10.9% | 1.2% |
| U.S. Bank | $7,955,000 | $4,815,000 | -39.5% | 1.2% |
| Century Mortgage Company DBA Century Lending Company | $5,200,000 | $4,750,000 | -8.7% | 1.1% |
| The Huntington National Bank | $5,355,000 | $4,695,000 | -12.3% | 1.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,745,000 | $4,570,000 | 161.9% | 1.1% |
| TBK BANK, SSB | $3,455,000 | $4,460,000 | 29.1% | 1.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $3,765,000 | $4,135,000 | 9.8% | 1.0% |
| Zions Bank | $22,395,000 | $3,910,000 | -82.5% | 0.9% |
| PNC Bank | $2,500,000 | $3,780,000 | 51.2% | 0.9% |
| Flanagan State Bank | $7,905,000 | $3,740,000 | -52.7% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $4,310,000 | $3,285,000 | -23.8% | 0.8% |
| GUILD MORTGAGE COMPANY | $1,265,000 | $3,280,000 | 159.3% | 0.8% |
| Wells Fargo Bank | $18,060,000 | $3,060,000 | -83.1% | 0.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $4,835,000 | $3,020,000 | -37.5% | 0.7% |
| Bank of America | $15,930,000 | $2,965,000 | -81.4% | 0.7% |
| CORNERSTONE HOME LENDING, INC. | $3,315,000 | $2,950,000 | -11.0% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $2,810,000 | $2,945,000 | 4.8% | 0.7% |
| BMO Harris Bank | $1,590,000 | $2,940,000 | 84.9% | 0.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,795,000 | $2,905,000 | -39.4% | 0.7% |
| ACADEMY MORTGAGE CORPORATION | $5,510,000 | $2,855,000 | -48.2% | 0.7% |
| GUARANTEED RATE, INC. | $2,960,000 | $2,820,000 | -4.7% | 0.7% |
| Stifel Bank and Trust | $5,395,000 | $2,490,000 | -53.8% | 0.6% |
| Charles Schwab Bank, SSB | $3,795,000 | $2,365,000 | -37.7% | 0.6% |
| AMCAP MORTGAGE, LTD. | $795,000 | $2,190,000 | 175.5% | 0.5% |
| Affiliated Bank | $175,000 | $2,105,000 | 1,102.9% | 0.5% |
| Elevations Credit Union | $890,000 | $2,055,000 | 130.9% | 0.5% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $365,000 | $2,045,000 | 460.3% | 0.5% |
| DRAPER AND KRAMER MORTGAGE CORP. | $1,935,000 | n/a | 0.5% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $2,360,000 | $1,885,000 | -20.1% | 0.5% |
| UNIVERSAL LENDING CORPORATION | $2,080,000 | $1,830,000 | -12.0% | 0.4% |
| Flagstar Bank, FSB | $2,065,000 | $1,770,000 | -14.3% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $395,000 | $1,695,000 | 329.1% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,485,000 | $1,670,000 | 12.5% | 0.4% |
| SANDIA LABORATORY | $1,830,000 | $1,655,000 | -9.6% | 0.4% |
| ADVANCIAL | $1,505,000 | n/a | 0.4% | |
| AMERISAVE MORTGAGE CORPORATION | $2,825,000 | $1,475,000 | -47.8% | 0.4% |
| First-Citizens Bank & Trust Company | $1,425,000 | n/a | 0.3% | |
| 21ST MORTGAGE CORPORATION | $1,190,000 | $1,420,000 | 19.3% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $1,475,000 | $1,365,000 | -7.5% | 0.3% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $7,100,000 | $1,345,000 | -81.1% | 0.3% |
| USAA Federal Savings Bank | $1,175,000 | $1,335,000 | 13.6% | 0.3% |
| CARDINAL FINANCIAL | $1,705,000 | $1,285,000 | -24.6% | 0.3% |
| ALLIANT CREDIT UNION | $715,000 | $1,250,000 | 74.8% | 0.3% |
| Mortgage Research Center, LLC | $1,585,000 | $1,220,000 | -23.0% | 0.3% |
| American Mortgage & Equity Consultants, Inc. | $1,215,000 | n/a | 0.3% | |
| PENTAGON FEDERAL CREDIT UNION | $1,150,000 | $1,200,000 | 4.3% | 0.3% |
| ENCORE BANK | $465,000 | $1,125,000 | 141.9% | 0.3% |
| AMERICAN FINANCING CORPORATION | $1,665,000 | $1,085,000 | -34.8% | 0.3% |
| KeyBank | $3,270,000 | $1,060,000 | -67.6% | 0.3% |
| Discover Bank | $120,000 | $1,025,000 | 754.2% | 0.2% |
| NEWREZ LLC | $1,820,000 | $1,015,000 | -44.2% | 0.2% |
| FINANCE OF AMERICA REVERSE LLC | $565,000 | $1,000,000 | 77.0% | 0.2% |
| SECURITY SERVICE | $1,270,000 | $980,000 | -22.8% | 0.2% |
| United Fidelity Funding Corp. | $915,000 | n/a | 0.2% | |
| NBKC BANK | $905,000 | $860,000 | -5.0% | 0.2% |
| Plains Commerce Bank | $205,000 | $850,000 | 314.6% | 0.2% |
| CIBC Bank USA | $835,000 | n/a | 0.2% | |
| Paramount Residential Mortgage Group, Inc. | $1,340,000 | $830,000 | -38.1% | 0.2% |
| The Federal Savings Bank | $1,460,000 | $780,000 | -46.6% | 0.2% |
| Gibsland Bank & Trust Company | $765,000 | n/a | 0.2% | |
| CMG MORTGAGE, INC. | $860,000 | $755,000 | -12.2% | 0.2% |
| Prosperity Home Mortgage, LLC | $725,000 | n/a | 0.2% | |
| Alcova Mortgage LLC | $715,000 | n/a | 0.2% | |
| Citibank | $13,965,000 | $715,000 | -94.9% | 0.2% |
| CANOPY MORTGAGE, LLC | $700,000 | n/a | 0.2% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $1,160,000 | $685,000 | -40.9% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $1,920,000 | $660,000 | -65.6% | 0.2% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $570,000 | $650,000 | 14.0% | 0.2% |
| Landmark National Bank | $645,000 | n/a | 0.2% | |
| ENVOY MORTGAGE, LTD | $355,000 | $625,000 | 76.1% | 0.2% |
| Northpointe Bank | $1,780,000 | $610,000 | -65.7% | 0.1% |
| GROUP MORTGAGE, LLC | $595,000 | n/a | 0.1% | |
| Figure Lending LLC | $415,000 | $590,000 | 42.2% | 0.1% |
| Gateway First Bank | $1,565,000 | $585,000 | -62.6% | 0.1% |
| UBS Bank USA | $2,740,000 | $585,000 | -78.6% | 0.1% |
| AXIA FINANCIAL, LLC | $345,000 | $555,000 | 60.9% | 0.1% |
| Frandsen Bank & Trust | $555,000 | n/a | 0.1% | |
| HOMESTEAD FUNDING CORP. | $545,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $330,000 | $540,000 | 63.6% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $455,000 | $525,000 | 15.4% | 0.1% |
| Colonial Savings, F.A. | $515,000 | n/a | 0.1% | |
| Vantage Bank Texas | $505,000 | n/a | 0.1% | |
| SUN WEST MORTGAGE COMPANY, INC. | $485,000 | n/a | 0.1% | |
| American Bank of Commerce | $475,000 | n/a | 0.1% | |
| HUNT MORTGAGE CORPORATION | $465,000 | n/a | 0.1% | |
| MORTGAGE ACCESS CORP. | $465,000 | n/a | 0.1% | |
| RESIDENTIAL BANCORP | $465,000 | n/a | 0.1% | |
| RF Renovo Management Company, LLC | $445,000 | n/a | 0.1% | |
| Sunflower Bank | $1,820,000 | $445,000 | -75.5% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $345,000 | $445,000 | 29.0% | 0.1% |
| USAlliance Federal Credit Union | $445,000 | n/a | 0.1% | |
| AMWEST FUNDING CORP. | $435,000 | n/a | 0.1% | |
| HSBC BANK USA, NATIONAL ASSOCIATION | $425,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $25,000 | $420,000 | 1,580.0% | 0.1% |
| Arvest Bank | $415,000 | n/a | 0.1% | |
| First Federal Bank | $415,000 | n/a | 0.1% | |
| UMB Bank | $630,000 | $410,000 | -34.9% | 0.1% |
| NexBank | $3,770,000 | $405,000 | -89.3% | 0.1% |
| Wallick & Volk, Inc. | $395,000 | $395,000 | 0.0% | 0.1% |
| Blue Federal Credit Union | $385,000 | n/a | 0.1% | |
| EMBRACE HOME LOANS, INC. | $385,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $495,000 | $385,000 | -22.2% | 0.1% |
| FirstBank | $365,000 | n/a | 0.1% | |
| First Savings Bank | $745,000 | $365,000 | -51.0% | 0.1% |
| Bethpage Federal Credit Union | $360,000 | n/a | 0.1% | |
| Citizens Bank | $355,000 | n/a | 0.1% | |
| CONTOUR MORTGAGE CORPORATION | $355,000 | n/a | 0.1% | |
| INFINITY EQUITY GROUP, INC. | $355,000 | n/a | 0.1% | |
| LAND HOME FINANCIAL SERVICES, INC. | $355,000 | n/a | 0.1% | |
| ALLIED MORTGAGE GROUP, INC. | $345,000 | n/a | 0.1% | |
| BELLCO | $1,400,000 | $330,000 | -76.4% | 0.1% |
| M&T Bank | $320,000 | n/a | 0.1% | |
| BM Real Estate Services, Inc. | $315,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $265,000 | $315,000 | 18.9% | 0.1% |
| Axos Bank | $305,000 | n/a | 0.1% | |
| LENDSURE MORTGAGE CORP. | $565,000 | $305,000 | -46.0% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $1,005,000 | $295,000 | -70.6% | 0.1% |
| Princeton Mortgage Corporation | $295,000 | $295,000 | 0.0% | 0.1% |
| SWBC MORTGAGE CORPORATION | $295,000 | n/a | 0.1% | |
| MOUNTAIN AMERICA | $55,000 | $285,000 | 418.2% | 0.1% |
| EVERETT FINANCIAL, INC. | $960,000 | $280,000 | -70.8% | 0.1% |
| OCMBC, INC. | $275,000 | n/a | 0.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $290,000 | $250,000 | -13.8% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $245,000 | n/a | 0.1% | |
| Pinnacle Bank | $245,000 | n/a | 0.1% | |
| First Horizon Bank | $235,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $225,000 | n/a | 0.1% | |
| COMMUNITY MORTGAGE FUNDING, LLC | $215,000 | n/a | 0.1% | |
| American Airlines Federal Credit Union | $85,000 | $205,000 | 141.2% | 0.0% |
| BOKF | $3,745,000 | $205,000 | -94.5% | 0.0% |
| Mortgage Bank of California | $205,000 | n/a | 0.0% | |
| Peak Financial | $205,000 | n/a | 0.0% | |
| Ent Credit Union | $1,105,000 | $175,000 | -84.2% | 0.0% |
| NEW DAY FINANCIAL, LLC | $935,000 | $165,000 | -82.4% | 0.0% |
| Notre Dame Federal Credit Union Corporation | $105,000 | $165,000 | 57.1% | 0.0% |
| ZILLOW HOME LOANS, LLC | $555,000 | $165,000 | -70.3% | 0.0% |
| Credit Union of Denver | $65,000 | $160,000 | 146.2% | 0.0% |
| Connexus Credit Union | $155,000 | n/a | 0.0% | |
| PREMIER MEMBERS CREDIT UNION | $255,000 | $150,000 | -41.2% | 0.0% |
| Coastal Community Bank | $135,000 | n/a | 0.0% | |
| AMERICAN INTERNET MORTGAGE, INC. | $980,000 | $115,000 | -88.3% | 0.0% |
| Ally Bank | $325,000 | $105,000 | -67.7% | 0.0% |
| Community National Bank & Trust of Texas | $105,000 | n/a | 0.0% | |
| LOANDEPOT.COM, LLC | $7,600,000 | $85,000 | -98.9% | 0.0% |
| CANVAS CREDIT UNION | $205,000 | $65,000 | -68.3% | 0.0% |
| Alaska USA Federal Credit Union | $55,000 | n/a | 0.0% | |
| Centier Bank | $65,000 | $55,000 | -15.4% | 0.0% |
| SPRING EQ, LLC | $1,040,000 | $55,000 | -94.7% | 0.0% |
| Weld Schools Credit Union | $45,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $1,180,000 | $25,000 | -97.9% | 0.0% |
Durango's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 21.2% market share. In second place, with 10.2%, is Bank of Colorado, having originated $42,175,000 in loans. In third place, with 7.7%, is The Central Trust Bank, having originated $31,970,000 in loans. In fourth place, with 6.5%, is QUICKEN LOANS, LLC, having originated $27,170,000 in loans. In fifth place, with 5.1%, is Alpine Bank, having originated $21,100,000 in loans.
Durango, CO Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 633 | $316,265,000 | $499,629 |
| Other | 150 | $25,950,000 | $173,000 |
| Cash Out Refi | 126 | $36,540,000 | $290,000 |
| Home Improvement | 112 | $14,420,000 | $128,750 |
| Refi | 65 | $19,955,000 | $307,000 |
| NA | 1 | $2,105,000 | $2,105,000 |
Durango's most frequently cited loan purpose was Home Purchase, with 633 originations. The 2nd most popular reason was Other, with 150 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 354 | $163,320,000 | $461,356 |
| 7-8% | 289 | $110,925,000 | $383,824 |
| Over 8% | 270 | $54,780,000 | $202,889 |
| 5-6% | 141 | $73,225,000 | $519,326 |
| 4-5% | 13 | $6,615,000 | $508,846 |
| <2.5% | 4 | $50,000 | $12,500 |
| 2.5-3% | 2 | $440,000 | $220,000 |
During 2023, Durango's most frequently originated rate bucket was 6-7%, with 354 originations.
Loan Sizing (Durango, CO MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 328 | $96,020,000 | $292,744 |
| $400k-600k | 226 | $109,860,000 | $486,106 |
| $100,000 or less | 180 | $10,600,000 | $58,889 |
| $100k-200k | 168 | $23,170,000 | $137,917 |
| $600k-1000k | 125 | $89,935,000 | $719,480 |
| $Over $1MM | 60 | $85,650,000 | $1,427,500 |
Durango's loan sizing saw the bucket of loans from $200k-400k with 328 originations, totaling $96,020,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 60-80% | 270 | $148,990,000 | $551,815 |
| Under 20% | 253 | $24,615,000 | $97,292 |
| 80-100% | 234 | $122,750,000 | $524,573 |
| 20-40% | 160 | $39,860,000 | $249,125 |
| 40-60% | 152 | $71,860,000 | $472,763 |
| Over 100% | 1 | $485,000 | $485,000 |
Durango's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 270 originations, totaling $148,990,000 in origination value.