FARMINGTON Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Farmington averaged
6.87%
for the week of 2024-12-12, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2024-12-05) was
6.56% and
one month ago for the week of 2024-11-07, the
average rate was 6.76%.
Farmington's average rate one year ago was 7.3%.
For refis of the same type during the week of 2024-12-12, the average rate
was 7.1%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-12-12 | 6.6% |
Farmington 30 Year Fixed Rate | 2024-12-12 | 6.87% |
Farmington 30 Year Fixed Rate Refi | 2024-12-12 | 7.1% |
Farmington 15 Year Fixed Rate | 2024-12-12 | 5.94% |
Farmington 15 Year Fixed Rate Refi | 2024-12-12 | 5.84% |
Farmington 30 Year FHA | 2024-12-12 | 5.9% |
Farmington 30 Year FHA Refi | 2024-12-12 | 6.48% |
Farmington 30 Year USDA | 2024-12-12 | 6.1% |
Farmington 30 Year USDA Refi | 2024-12-12 | 6.4% |
Farmington 30 Year VA | 2024-12-12 | 5.94% |
Farmington 30 Year VA Refi | 2024-12-12 | 6.28% |
FARMINGTON 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 FARMINGTON, NM 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.).
FARMINGTON Average Closing Costs & Other Stats
FARMINGTON, NM's 70 lenders originated 1,269
loans during 2023. The total origination value was $232,545,000, with an average loan value of
$183,251.
FARMINGTON's average closing costs are $5,902.
The top FARMINGTON lender as defined by loan originations is AMCAP MORTGAGE, LTD., with
68 loans originated. Their average total fees are
$7,038, which is $2,401
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee FARMINGTON lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC ($4,637), Waterstone Mortgage Corporation ($5,347), Wells Fargo Bank ($5,768), GUILD MORTGAGE COMPANY ($6,606) and QUICKEN LOANS, LLC ($6,810).
The lowest rate FARMINGTON lenders (with over 10 loans originated) are
Waterstone Mortgage Corporation (6.45%), QUICKEN LOANS, LLC (6.76%), Wells Fargo Bank (6.77%), AMCAP MORTGAGE, LTD. (6.79%) and CORNERSTONE HOME LENDING, INC. (6.84%).
FARMINGTON, NM 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 |
---|---|---|---|---|
AMCAP MORTGAGE, LTD. | $35,555,000 | $35,810,000 | 0.7% | 15.4% |
CORNERSTONE HOME LENDING, INC. | $26,330,000 | $27,480,000 | 4.4% | 11.8% |
GUILD MORTGAGE COMPANY | $12,160,000 | $15,625,000 | 28.5% | 6.7% |
QUICKEN LOANS, LLC | $23,980,000 | $14,595,000 | -39.1% | 6.3% |
UNITED WHOLESALE MORTGAGE, LLC | $21,615,000 | $14,555,000 | -32.7% | 6.3% |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $22,645,000 | $12,495,000 | -44.8% | 5.4% |
The Citizens Bank | $20,895,000 | $10,285,000 | -50.8% | 4.4% |
Mortgage Research Center, LLC | $9,570,000 | $8,210,000 | -14.2% | 3.5% |
Waterstone Mortgage Corporation | $12,635,000 | $7,760,000 | -38.6% | 3.3% |
21ST MORTGAGE CORPORATION | $5,200,000 | $4,575,000 | -12.0% | 2.0% |
Century Mortgage Company DBA Century Lending Company | $11,140,000 | $4,120,000 | -63.0% | 1.8% |
Wells Fargo Bank | $6,010,000 | $3,590,000 | -40.3% | 1.5% |
SANDIA LABORATORY | $2,520,000 | $3,335,000 | 32.3% | 1.4% |
LOANDEPOT.COM, LLC | $7,605,000 | $2,945,000 | -61.3% | 1.3% |
MID AMERICA MORTGAGE, INC. | $7,850,000 | $2,655,000 | -66.2% | 1.1% |
NAVY FEDERAL CREDIT UNION | $2,600,000 | $2,640,000 | 1.5% | 1.1% |
Zions Bank | $3,630,000 | $2,590,000 | -28.7% | 1.1% |
Bank of Colorado | $1,045,000 | $2,445,000 | 134.0% | 1.1% |
Bank of the Southwest | $2,215,000 | n/a | 1.0% | |
MICHIGAN MUTUAL, INC. | $3,295,000 | $1,930,000 | -41.4% | 0.8% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $1,480,000 | $1,775,000 | 19.9% | 0.8% |
U.S. EAGLE | $820,000 | $1,530,000 | 86.6% | 0.7% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $870,000 | $1,515,000 | 74.1% | 0.7% |
Mr. Cooper ( Nationstar Mortgage ) | $4,825,000 | $1,450,000 | -69.9% | 0.6% |
PENNYMAC LOAN SERVICES, LLC | $3,645,000 | $1,400,000 | -61.6% | 0.6% |
AMERISAVE MORTGAGE CORPORATION | $3,655,000 | $1,280,000 | -65.0% | 0.6% |
BROKER SOLUTIONS, INC. | $2,310,000 | $1,215,000 | -47.4% | 0.5% |
NEWREZ LLC | $580,000 | $1,195,000 | 106.0% | 0.5% |
FREEDOM MORTGAGE CORPORATION | $2,930,000 | $1,150,000 | -60.8% | 0.5% |
JPMorgan Chase Bank | $1,035,000 | $1,100,000 | 6.3% | 0.5% |
American Mortgage & Equity Consultants, Inc. | $1,095,000 | n/a | 0.5% | |
U.S. Bank | $980,000 | $1,015,000 | 3.6% | 0.4% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $880,000 | $975,000 | 10.8% | 0.4% |
Truist | $135,000 | $950,000 | 603.7% | 0.4% |
BOKF | $1,070,000 | $890,000 | -16.8% | 0.4% |
SUN WEST MORTGAGE COMPANY, INC. | $760,000 | n/a | 0.3% | |
The Huntington National Bank | $465,000 | $760,000 | 63.4% | 0.3% |
Magnolia Bank | $730,000 | n/a | 0.3% | |
PLANET HOME LENDING, LLC | $430,000 | $690,000 | 60.5% | 0.3% |
CARDINAL FINANCIAL | $1,295,000 | $675,000 | -47.9% | 0.3% |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $1,170,000 | $670,000 | -42.7% | 0.3% |
Carrington Mortgage Services, LLC | $1,220,000 | $635,000 | -48.0% | 0.3% |
NFM, INC. | $620,000 | n/a | 0.3% | |
USAA Federal Savings Bank | $1,670,000 | $620,000 | -62.9% | 0.3% |
BMO Harris Bank | $215,000 | $595,000 | 176.7% | 0.3% |
NBH Bank | $255,000 | $580,000 | 127.5% | 0.2% |
CMG MORTGAGE, INC. | $1,910,000 | $575,000 | -69.9% | 0.2% |
Flanagan State Bank | $1,295,000 | $565,000 | -56.4% | 0.2% |
ARC HOME LLC | $555,000 | n/a | 0.2% | |
Bank of America | $2,150,000 | $540,000 | -74.9% | 0.2% |
First Western Bank & Trust | $535,000 | n/a | 0.2% | |
AMERICAN FINANCIAL NETWORK, INC. | $530,000 | n/a | 0.2% | |
CROSSCOUNTRY MORTGAGE, LLC | $970,000 | $530,000 | -45.4% | 0.2% |
First Financial Credit Union | $1,120,000 | $515,000 | -54.0% | 0.2% |
AMERICAN FINANCING CORPORATION | $2,110,000 | $510,000 | -75.8% | 0.2% |
LAKEVIEW LOAN SERVICING, LLC | $1,380,000 | $510,000 | -63.0% | 0.2% |
NEW DAY FINANCIAL, LLC | $1,730,000 | $500,000 | -71.1% | 0.2% |
PNC Bank | $405,000 | $495,000 | 22.2% | 0.2% |
Barrington Bank & Trust Company, N.A. | $235,000 | $465,000 | 97.9% | 0.2% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $460,000 | n/a | 0.2% | |
Northwest Farm Credit Services, FLCA | $445,000 | n/a | 0.2% | |
CHURCHILL MORTGAGE CORPORATION | $400,000 | $435,000 | 8.8% | 0.2% |
The Federal Savings Bank | $1,420,000 | $430,000 | -69.7% | 0.2% |
Chickasaw Community Bank | $205,000 | $420,000 | 104.9% | 0.2% |
Loan Simple, Inc. | $350,000 | $405,000 | 15.7% | 0.2% |
PENTAGON FEDERAL CREDIT UNION | $525,000 | $405,000 | -22.9% | 0.2% |
Raymond James Bank | $405,000 | n/a | 0.2% | |
DELMAR FINANCIAL COMPANY | $395,000 | n/a | 0.2% | |
Discover Bank | $245,000 | $395,000 | 61.2% | 0.2% |
NBKC BANK | $265,000 | $395,000 | 49.1% | 0.2% |
Arvest Bank | $385,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $500,000 | $380,000 | -24.0% | 0.2% |
Old National Bank | $375,000 | n/a | 0.2% | |
PHH Mortgage Corporation | $370,000 | n/a | 0.2% | |
First-Citizens Bank & Trust Company | $355,000 | n/a | 0.2% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $355,000 | n/a | 0.2% | |
Prosperity Home Mortgage, LLC | $355,000 | n/a | 0.2% | |
UNITED SECURITY FINANCIAL CORP | $355,000 | n/a | 0.2% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $960,000 | $350,000 | -63.5% | 0.2% |
CLEARPATH LENDING | $255,000 | $345,000 | 35.3% | 0.1% |
ACADEMY MORTGAGE CORPORATION | $1,645,000 | $340,000 | -79.3% | 0.1% |
The Central Trust Bank | $1,210,000 | $335,000 | -72.3% | 0.1% |
CONTOUR MORTGAGE CORPORATION | $330,000 | n/a | 0.1% | |
Secured Investment Corp. | $330,000 | n/a | 0.1% | |
First National Bank Texas | $325,000 | n/a | 0.1% | |
Plains Commerce Bank | $325,000 | n/a | 0.1% | |
TRIAD FINANCIAL SERVICES, INC. | $1,270,000 | $325,000 | -74.4% | 0.1% |
Commerce Home Mortgage, Inc. | $765,000 | $315,000 | -58.8% | 0.1% |
GUARANTEED RATE AFFINITY, LLC | $315,000 | n/a | 0.1% | |
NOVA FINANCIAL & INVESTMENT CORPORATION | $295,000 | n/a | 0.1% | |
V.I.P. MORTGAGE, INC. | $1,685,000 | $290,000 | -82.8% | 0.1% |
MORTGAGEONE, INC. | $285,000 | $285,000 | 0.0% | 0.1% |
TOP FLITE FINANCIAL, INC. | $615,000 | $285,000 | -53.7% | 0.1% |
AMWEST FUNDING CORP. | $265,000 | n/a | 0.1% | |
PREMIA MORTGAGE, LLC | $265,000 | $265,000 | 0.0% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $125,000 | $265,000 | 112.0% | 0.1% |
Nations Lending Corporation | $1,515,000 | $260,000 | -82.8% | 0.1% |
ASSEMBLIES OF GOD Credit Union | $255,000 | n/a | 0.1% | |
UNITED | $245,000 | n/a | 0.1% | |
VERITAS FUNDING, LLC | $245,000 | n/a | 0.1% | |
Coastal Community Bank | $240,000 | n/a | 0.1% | |
CHERRY CREEK MORTGAGE, LLC | $650,000 | $235,000 | -63.8% | 0.1% |
DRAPER AND KRAMER MORTGAGE CORP. | $235,000 | n/a | 0.1% | |
SOUTHWEST STAGE FUNDING, LLC | $230,000 | n/a | 0.1% | |
Farmers Bank & Trust | $225,000 | n/a | 0.1% | |
Northpointe Bank | $225,000 | n/a | 0.1% | |
PACIFIC RESIDENTIAL MORTGAGE, LLC | $225,000 | n/a | 0.1% | |
BETTER MORTGAGE CORPORATION | $1,355,000 | $215,000 | -84.1% | 0.1% |
Figure Lending LLC | $190,000 | $210,000 | 10.5% | 0.1% |
NUSENDA | $245,000 | $205,000 | -16.3% | 0.1% |
MASON MCDUFFIE MORTGAGE CORPORATION | $200,000 | n/a | 0.1% | |
Washington Federal Bank | $565,000 | $200,000 | -64.6% | 0.1% |
INTERCAP LENDING INC. | $355,000 | $185,000 | -47.9% | 0.1% |
RELIANCE FIRST CAPITAL, LLC | $525,000 | $175,000 | -66.7% | 0.1% |
LONGBRIDGE FINANCIAL, LLC | $345,000 | $165,000 | -52.2% | 0.1% |
SUN AMERICAN MORTGAGE COMPANY | $165,000 | n/a | 0.1% | |
AMERICAN HERITAGE LENDING, INC. | $155,000 | n/a | 0.1% | |
AMERICA FIRST | $75,000 | $150,000 | 100.0% | 0.1% |
NATIONWIDE MORTGAGE BANKERS, INC. | $145,000 | n/a | 0.1% | |
FINANCE OF AMERICA REVERSE LLC | $185,000 | $140,000 | -24.3% | 0.1% |
MOUNTAIN AMERICA | $525,000 | $130,000 | -75.2% | 0.1% |
SPRING EQ, LLC | $55,000 | $130,000 | 136.4% | 0.1% |
Goldwater Bank, N.A. | $165,000 | $125,000 | -24.2% | 0.1% |
CIS Financial Services, Inc. | $115,000 | n/a | 0.0% | |
Flagstar Bank, FSB | $1,590,000 | $105,000 | -93.4% | 0.0% |
Citibank | $95,000 | n/a | 0.0% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $180,000 | $95,000 | -47.2% | 0.0% |
COUNTRYPLACE MORTGAGE, LTD. | $55,000 | $85,000 | 54.5% | 0.0% |
CREDIT UNION MORTGAGE ASSOCIATION, INC. | $270,000 | $75,000 | -72.2% | 0.0% |
Morgan Stanley Private Bank | $565,000 | $75,000 | -86.7% | 0.0% |
Citizens Bank | $55,000 | n/a | 0.0% | |
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $55,000 | n/a | 0.0% | |
Firefighters First Federal Credit Union | $55,000 | n/a | 0.0% |
FARMINGTON's top lender by overall market share is AMCAP MORTGAGE, LTD., with 15.4% market share. In second place, with 11.8%, is CORNERSTONE HOME LENDING, INC., having originated $27,480,000 in loans. In third place, with 6.7%, is GUILD MORTGAGE COMPANY, having originated $15,625,000 in loans. In fourth place, with 6.3%, is QUICKEN LOANS, LLC, having originated $14,595,000 in loans. In fifth place, with 6.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $14,555,000 in loans.
FARMINGTON Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - FARMINGTON (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $207,500 (-0.7%) | $247,120 (-1.3%) | 0.00 | 487 |
2018-02-01 | $204,919 (-2.2%) | $243,690 (-3.3%) | 0.00 | 481 |
2018-03-01 | $204,900 (-3.0%) | $245,070 (-2.9%) | 0.00 | 486 |
2018-04-01 | $199,694 (-7.1%) | $243,662 (-5.3%) | 0.00 | 520 |
2018-05-01 | $199,900 (-7.1%) | $248,491 (-3.3%) | 0.00 | 537 |
2018-06-01 | $208,000 (-3.3%) | $250,099 (-2.1%) | 0.00 | 548 |
2018-07-01 | $209,350 (-2.6%) | $249,946 (-3.2%) | 0.00 | 533 |
2018-08-01 | $209,850 (0.0%) | $252,485 (-0.7%) | 0.00 | 528 |
2018-09-01 | $210,000 (0.0%) | $257,836 (1.0%) | 0.00 | 524 |
2018-10-01 | $209,000 (-0.5%) | $253,824 (-0.5%) | 0.00 | 540 |
2018-11-01 | $208,975 (0.5%) | $251,798 (-0.8%) | 0.00 | 517 |
2018-12-01 | $214,000 (7.1%) | $250,727 (0.8%) | 0.00 | 486 |
2019-01-01 | $214,444 (3.4%) | $249,226 (0.9%) | 0.00 | 446 |
2019-02-01 | $209,950 (2.5%) | $243,667 (0.0%) | 0.00 | 453 |
2019-03-01 | $216,243 (5.5%) | $253,949 (3.6%) | 0.00 | 455 |
2019-04-01 | $219,900 (10.1%) | $264,386 (8.5%) | 0.00 | 456 |
2019-05-01 | $219,950 (10.0%) | $262,555 (5.7%) | 0.00 | 462 |
2019-06-01 | $219,900 (5.7%) | $261,516 (4.6%) | 0.00 | 481 |
2019-07-01 | $219,000 (4.6%) | $260,698 (4.3%) | 0.00 | 507 |
2019-08-01 | $218,651 (4.2%) | $261,060 (3.4%) | 0.00 | 503 |
2019-09-01 | $216,879 (3.3%) | $260,099 (0.9%) | 0.00 | 495 |
2019-10-01 | $215,250 (3.0%) | $258,068 (1.7%) | 0.00 | 486 |
2019-11-01 | $215,000 (2.9%) | $259,529 (3.1%) | 0.00 | 434 |
2019-12-01 | $215,000 (0.5%) | $261,925 (4.5%) | 0.00 | 398 |
2020-01-01 | $209,950 (-2.1%) | $259,907 (4.3%) | 0.00 | 366 |
2020-02-01 | $209,650 (-0.1%) | $258,307 (6.0%) | 0.00 | 381 |
2020-03-01 | $209,925 (-2.9%) | $257,516 (1.4%) | 0.00 | 394 |
2020-04-01 | $210,000 (-4.5%) | $263,799 (-0.2%) | 0.00 | 388 |
2020-05-01 | $218,000 (-0.9%) | $270,178 (2.9%) | 0.00 | 364 |
2020-06-01 | $209,950 (-4.5%) | $260,280 (-0.5%) | 0.00 | 353 |
2020-07-01 | $212,450 (-3.0%) | $258,303 (-0.9%) | 0.00 | 375 |
2020-08-01 | $209,900 (-4.0%) | $255,794 (-2.0%) | 0.00 | 370 |
2020-09-01 | $204,900 (-5.5%) | $259,136 (-0.4%) | 0.00 | 335 |
2020-10-01 | $205,375 (-4.6%) | $266,758 (3.4%) | 0.00 | 311 |
2020-11-01 | $207,000 (-3.7%) | $260,486 (0.4%) | 0.00 | 290 |
2020-12-01 | $202,750 (-5.7%) | $255,716 (-2.4%) | 0.00 | 273 |
2021-01-01 | $205,000 (-2.4%) | $253,691 (-2.4%) | 0.00 | 245 |
2021-02-01 | $208,000 (-0.8%) | $263,302 (1.9%) | 0.00 | 252 |
2021-03-01 | $213,500 (1.7%) | $265,077 (2.9%) | 0.00 | 237 |
2021-04-01 | $211,388 (0.7%) | $273,405 (3.6%) | 0.00 | 203 |
2021-05-01 | $219,900 (0.9%) | $295,832 (9.5%) | 0.00 | 207 |
2021-06-01 | $222,000 (5.7%) | $320,693 (23.2%) | 0.00 | 200 |
2021-07-01 | $222,375 (4.7%) | $330,029 (27.8%) | 0.00 | 206 |
2021-08-01 | $225,000 (7.2%) | $335,741 (31.3%) | 0.00 | 212 |
2021-09-01 | $230,550 (12.5%) | $330,997 (27.7%) | 0.00 | 218 |
2021-10-01 | $245,000 (19.3%) | $360,150 (35.0%) | 0.00 | 193 |
2021-11-01 | $259,447 (25.3%) | $363,665 (39.6%) | 0.00 | 185 |
2021-12-01 | $272,250 (34.3%) | $368,971 (44.3%) | 0.00 | 163 |
2022-01-01 | $289,900 (41.4%) | $394,179 (55.4%) | 0.00 | 116 |
2022-02-01 | $273,450 (31.5%) | $375,491 (42.6%) | 0.00 | 111 |
2022-03-01 | $261,750 (22.6%) | $345,694 (30.4%) | 0.00 | 117 |
2022-04-01 | $299,900 (41.9%) | $410,833 (50.3%) | 0.00 | 115 |
2022-05-01 | $318,725 (44.9%) | $432,891 (46.3%) | 0.00 | 108 |
2022-06-01 | $317,700 (43.1%) | $404,742 (26.2%) | 0.00 | 144 |
2022-07-01 | $287,450 (29.3%) | $381,989 (15.7%) | 0.00 | 148 |
2022-08-01 | $299,000 (32.9%) | $405,702 (20.8%) | 0.00 | 131 |
2022-09-01 | $300,725 (30.4%) | $425,187 (28.5%) | 0.00 | 113 |
2022-10-01 | $299,000 (22.0%) | $385,715 (7.1%) | 0.00 | 102 |
2022-11-01 | $302,225 (16.5%) | $404,226 (11.2%) | 0.00 | 98 |
2022-12-01 | $285,000 (4.7%) | $405,744 (10.0%) | 0.00 | 96 |
2023-01-01 | $320,000 (10.4%) | $429,925 (9.1%) | 0.00 | 85 |
2023-02-01 | $349,500 (27.8%) | $486,999 (29.7%) | 0.00 | 66 |
2023-03-01 | $350,000 (33.7%) | $477,746 (38.2%) | 0.00 | 66 |
2023-04-01 | $342,000 (14.0%) | $466,954 (13.7%) | 0.00 | 69 |
2023-05-01 | $333,925 (4.8%) | $464,500 (7.3%) | 0.00 | 89 |
2023-06-01 | $330,000 (3.9%) | $456,319 (12.7%) | 0.00 | 107 |
2023-07-01 | $333,750 (16.1%) | $476,929 (24.9%) | 0.00 | 121 |
2023-08-01 | $350,000 (17.1%) | $502,342 (23.8%) | 0.00 | 127 |
2023-09-01 | $349,950 (16.4%) | $477,738 (12.4%) | 0.00 | 140 |
2023-10-01 | $338,250 (13.1%) | $478,104 (24.0%) | 0.00 | 146 |
2023-11-01 | $337,500 (11.7%) | $460,199 (13.9%) | 0.00 | 148 |
2023-12-01 | $332,400 (16.6%) | $468,760 (15.5%) | 0.00 | 137 |
2024-01-01 | $335,550 (4.9%) | $453,342 (5.5%) | 0.00 | 120 |
2024-02-01 | $349,975 (0.1%) | $465,005 (-4.5%) | 0.00 | 110 |
2024-03-01 | $349,900 (0.0%) | $451,133 (-5.6%) | 0.00 | 106 |
2024-04-01 | $359,700 (5.2%) | $494,041 (5.8%) | 0.00 | 94 |
2024-05-01 | $394,900 (18.3%) | $539,537 (16.2%) | 0.00 | 104 |
2024-06-01 | $380,000 (15.2%) | $505,321 (10.7%) | 0.00 | 113 |
2024-07-01 | $393,575 (17.9%) | $498,362 (4.5%) | 0.00 | 125 |
2024-08-01 | $397,000 (13.4%) | $497,279 (-1.0%) | 0.00 | 131 |
2024-09-01 | $402,900 (15.1%) | $511,341 (7.0%) | 0.00 | 146 |
2024-10-01 | $389,350 (15.1%) | $508,841 (6.4%) | 0.00 | 157 |
2024-11-01 | $385,000 (14.1%) | $510,209 (10.9%) | 0.00 | 155 |
FARMINGTON's median listing price comes in at 0% of the national average.
FARMINGTON's average listing price for 2024-11-01 was $510,209, a difference of $50,010 (10.9%) versus the prior year and $1,368 versus the prior month.
For the 2024-11-01 period, FARMINGTON had 155 MLS listings, a difference of -2 listings (-1%) versus the prior month and 7 listings (5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - FARMINGTON (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,812 sqft |
2018-02-01 | 0 days | 1,796 sqft |
2018-03-01 | 0 days | 1,803 sqft |
2018-04-01 | 0 days | 1,782 sqft |
2018-05-01 | 0 days | 1,818 sqft |
2018-06-01 | 0 days | 1,864 sqft |
2018-07-01 | 0 days | 1,864 sqft |
2018-08-01 | 0 days | 1,881 sqft |
2018-09-01 | 0 days | 1,895 sqft |
2018-10-01 | 0 days | 1,886 sqft |
2018-11-01 | 0 days | 1,897 sqft |
2018-12-01 | 0 days | 1,901 sqft |
2019-01-01 | 0 days | 1,866 sqft |
2019-02-01 | 0 days | 1,820 sqft |
2019-03-01 | 0 days | 1,848 sqft |
2019-04-01 | 0 days | 1,889 sqft |
2019-05-01 | 0 days | 1,885 sqft |
2019-06-01 | 0 days | 1,883 sqft |
2019-07-01 | 0 days | 1,876 sqft |
2019-08-01 | 0 days | 1,867 sqft |
2019-09-01 | 0 days | 1,850 sqft |
2019-10-01 | 0 days | 1,829 sqft |
2019-11-01 | 0 days | 1,838 sqft |
2019-12-01 | 0 days | 1,881 sqft |
2020-01-01 | 0 days | 1,885 sqft |
2020-02-01 | 0 days | 1,838 sqft |
2020-03-01 | 0 days | 1,812 sqft |
2020-04-01 | 0 days | 1,842 sqft |
2020-05-01 | 0 days | 1,901 sqft |
2020-06-01 | 0 days | 1,863 sqft |
2020-07-01 | 0 days | 1,848 sqft |
2020-08-01 | 0 days | 1,792 sqft |
2020-09-01 | 0 days | 1,770 sqft |
2020-10-01 | 0 days | 1,816 sqft |
2020-11-01 | 0 days | 1,799 sqft |
2020-12-01 | 0 days | 1,717 sqft |
2021-01-01 | 0 days | 1,702 sqft |
2021-02-01 | 0 days | 1,827 sqft |
2021-03-01 | 0 days | 1,853 sqft |
2021-04-01 | 0 days | 1,795 sqft |
2021-05-01 | 0 days | 1,782 sqft |
2021-06-01 | 0 days | 1,790 sqft |
2021-07-01 | 0 days | 1,763 sqft |
2021-08-01 | 0 days | 1,767 sqft |
2021-09-01 | 0 days | 1,778 sqft |
2021-10-01 | 0 days | 1,887 sqft |
2021-11-01 | 0 days | 1,954 sqft |
2021-12-01 | 0 days | 1,972 sqft |
2022-01-01 | 0 days | 2,005 sqft |
2022-02-01 | 0 days | 1,942 sqft |
2022-03-01 | 0 days | 1,844 sqft |
2022-04-01 | 0 days | 2,004 sqft |
2022-05-01 | 0 days | 2,056 sqft |
2022-06-01 | 0 days | 2,052 sqft |
2022-07-01 | 0 days | 1,916 sqft |
2022-08-01 | 0 days | 2,019 sqft |
2022-09-01 | 0 days | 2,078 sqft |
2022-10-01 | 0 days | 2,027 sqft |
2022-11-01 | 0 days | 2,043 sqft |
2022-12-01 | 0 days | 1,950 sqft |
2023-01-01 | 0 days | 2,000 sqft |
2023-02-01 | 0 days | 2,031 sqft |
2023-03-01 | 0 days | 2,030 sqft |
2023-04-01 | 0 days | 1,995 sqft |
2023-05-01 | 0 days | 1,952 sqft |
2023-06-01 | 0 days | 1,973 sqft |
2023-07-01 | 0 days | 1,992 sqft |
2023-08-01 | 0 days | 2,081 sqft |
2023-09-01 | 0 days | 2,114 sqft |
2023-10-01 | 0 days | 2,028 sqft |
2023-11-01 | 0 days | 2,019 sqft |
2023-12-01 | 0 days | 2,000 sqft |
2024-01-01 | 0 days | 1,932 sqft |
2024-02-01 | 0 days | 2,086 sqft |
2024-03-01 | 0 days | 2,005 sqft |
2024-04-01 | 0 days | 2,014 sqft |
2024-05-01 | 0 days | 2,075 sqft |
2024-06-01 | 0 days | 2,034 sqft |
2024-07-01 | 0 days | 2,178 sqft |
2024-08-01 | 0 days | 2,189 sqft |
2024-09-01 | 0 days | 2,308 sqft |
2024-10-01 | 0 days | 2,132 sqft |
2024-11-01 | 0 days | 2,086 sqft |
FARMINGTON's median square footage for active listings during the 2024-11-01 period was 2,086 sqft. One year prior, the average listing was 2,019 sqft.
FARMINGTON, NM Average Rent (2023)
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Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
---|---|---|---|---|---|---|
81137 | Farmington, NM MSA | $880 | $900 | $1,060 | $1,490 | $1,620 |
87013 | Farmington, NM MSA | $660 | $740 | $900 | $1,280 | $1,540 |
87037 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87313 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87325 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87328 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87364 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87401 | Farmington, NM MSA | $830 | $850 | $1,000 | $1,400 | $1,530 |
87402 | Farmington, NM MSA | $980 | $1,000 | $1,180 | $1,660 | $1,810 |
87410 | Farmington, NM MSA | $750 | $760 | $900 | $1,260 | $1,380 |
87412 | Farmington, NM MSA | $720 | $730 | $870 | $1,220 | $1,330 |
87413 | Farmington, NM MSA | $700 | $710 | $840 | $1,180 | $1,280 |
87415 | Farmington, NM MSA | $860 | $880 | $1,040 | $1,460 | $1,590 |
87416 | Farmington, NM MSA | $920 | $940 | $1,110 | $1,560 | $1,700 |
87417 | Farmington, NM MSA | $720 | $730 | $860 | $1,210 | $1,320 |
87418 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87419 | Farmington, NM MSA | $840 | $860 | $1,010 | $1,420 | $1,550 |
87420 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87421 | Farmington, NM MSA | $850 | $870 | $1,030 | $1,450 | $1,570 |
87455 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87461 | Farmington, NM MSA | $660 | $670 | $800 | $1,120 | $1,220 |
87499 | Farmington, NM MSA | $700 | $720 | $850 | $1,190 | $1,290 |
2022 Average & Median Rent Data Statistics
FARMINGTON, NM average 1BR rent: $760, median: $725
FARMINGTON, NM average 2BR rent: $902, median: $855
FARMINGTON, NM average 3BR rent: $1,266, median: $1,200
FARMINGTON, NM Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 925 | $183,715,000 | $198,611 |
Cash Out Refi | 168 | $29,230,000 | $173,988 |
Other | 75 | $5,405,000 | $72,067 |
Refi | 66 | $11,160,000 | $169,091 |
Home Improvement | 35 | $3,035,000 | $86,714 |
Farmington's most frequently cited loan purpose was Home Purchase, with 925 originations. The 2nd most popular reason was Cash Out Refi, with 168 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 401 | $91,515,000 | $228,217 |
7-8% | 276 | $61,200,000 | $221,739 |
Over 8% | 261 | $15,715,000 | $60,211 |
5-6% | 226 | $47,020,000 | $208,053 |
<2.5% | 15 | $255,000 | $17,000 |
4-5% | 10 | $2,500,000 | $250,000 |
3-4% | 1 | $215,000 | $215,000 |
2.5-3% | 1 | $95,000 | $95,000 |
During 2023, Farmington's most frequently originated rate bucket was 6-7%, with 401 originations.
Loan Sizing (FARMINGTON, NM MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$200k-400k | 494 | $134,520,000 | $272,308 |
$100k-200k | 372 | $57,630,000 | $154,919 |
$100,000 or less | 352 | $14,040,000 | $39,886 |
$400k-600k | 45 | $21,165,000 | $470,333 |
$600k-1000k | 4 | $2,830,000 | $707,500 |
$Over $1MM | 2 | $2,360,000 | $1,180,000 |
FARMINGTON's loan sizing saw the bucket of loans from $200k-400k with 494 originations, totaling $134,520,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 626 | $148,590,000 | $237,364 |
Under 20% | 202 | $4,310,000 | $21,337 |
60-80% | 179 | $38,875,000 | $217,179 |
40-60% | 77 | $12,755,000 | $165,649 |
20-40% | 76 | $7,010,000 | $92,237 |
Over 100% | 23 | $6,495,000 | $282,391 |
FARMINGTON's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 626 originations, totaling $148,590,000 in origination value.