Gallup Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gallup averaged
6.99%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
7.02% and
one month ago for the week of 2023-02-09, the
average rate was 6.31%.
Gallup's average rate one year ago was 4.14%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.67%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Gallup 30 Year Fixed Rate | 2023-03-16 | 6.99% |
Gallup 30 Year Fixed Rate Refi | 2023-03-16 | 6.67% |
Gallup 15 Year Fixed Rate | 2023-03-16 | 6.36% |
Gallup 15 Year Fixed Rate Refi | 2023-03-16 | 6.44% |
Gallup 30 Year FHA | 2023-03-16 | 6.5% |
Gallup 30 Year FHA Refi | 2023-03-16 | 6.53% |
Gallup 30 Year USDA | 2023-03-16 | 6.67% |
Gallup 30 Year USDA Refi | 2023-03-16 | 3% |
Gallup 30 Year VA | 2023-03-16 | 6.49% |
Gallup 30 Year VA Refi | 2023-03-16 | 6.07% |
Gallup 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 Gallup, 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.).
Gallup Average Closing Costs & Other Stats
Gallup, NM's 48 lenders originated 479
loans during 2021. The total origination value was $77,945,000, with an average loan value of
$162,724.
Gallup's average closing costs are $4,913.
The top Gallup lender as defined by loan originations is QUICKEN LOANS, LLC, with
19 loans originated. Their average total fees are
$6,278, which is $2,795
higher than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Gallup lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($6,278), .
The lowest rate Gallup lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (3.02%), .
Gallup, 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $7,525,000 | $9,290,000 | 23.5% | 11.9% |
Bank of Colorado | $4,635,000 | $5,355,000 | 15.5% | 6.9% |
CALIBER HOME LOANS, INC. | $4,385,000 | $5,075,000 | 15.7% | 6.5% |
Mortgage Research Center, LLC | $2,885,000 | $4,270,000 | 48.0% | 5.5% |
CALCON MUTUAL MORTGAGE LLC | $2,725,000 | $4,035,000 | 48.1% | 5.2% |
Waterstone Mortgage Corporation | $1,915,000 | $3,515,000 | 83.6% | 4.5% |
FREEDOM MORTGAGE CORPORATION | $1,330,000 | $2,985,000 | 124.4% | 3.8% |
MID AMERICA MORTGAGE, INC. | $1,375,000 | $2,550,000 | 85.5% | 3.3% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $2,715,000 | $2,495,000 | -8.1% | 3.2% |
LOANDEPOT.COM, LLC | $1,300,000 | $2,455,000 | 88.8% | 3.1% |
21ST MORTGAGE CORPORATION | $1,530,000 | $2,105,000 | 37.6% | 2.7% |
U.S. Bank | $1,790,000 | $2,030,000 | 13.4% | 2.6% |
Wells Fargo Bank | $830,000 | $2,010,000 | 142.2% | 2.6% |
BOKF | $4,055,000 | $1,695,000 | -58.2% | 2.2% |
BROKER SOLUTIONS, INC. | $510,000 | $1,670,000 | 227.5% | 2.1% |
Mr. Cooper ( Nationstar Mortgage ) | $1,055,000 | $1,445,000 | 37.0% | 1.9% |
NEWREZ LLC | $355,000 | $1,285,000 | 262.0% | 1.6% |
UNITED WHOLESALE MORTGAGE, LLC | $1,135,000 | n/a | 1.5% | |
Ally Bank | $255,000 | $1,130,000 | 343.1% | 1.4% |
AMERISAVE MORTGAGE CORPORATION | $840,000 | $1,040,000 | 23.8% | 1.3% |
Bank of America | $1,205,000 | $1,030,000 | -14.5% | 1.3% |
USAA Federal Savings Bank | $1,315,000 | $940,000 | -28.5% | 1.2% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $855,000 | n/a | 1.1% | |
CHURCHILL MORTGAGE CORPORATION | $735,000 | n/a | 0.9% | |
LAKEVIEW LOAN SERVICING, LLC | $330,000 | $735,000 | 122.7% | 0.9% |
ACADEMY MORTGAGE CORPORATION | $275,000 | $690,000 | 150.9% | 0.9% |
Chickasaw Community Bank | $155,000 | $645,000 | 316.1% | 0.8% |
FINANCE OF AMERICA MORTGAGE LLC | $840,000 | $630,000 | -25.0% | 0.8% |
PENNYMAC LOAN SERVICES, LLC | $950,000 | $630,000 | -33.7% | 0.8% |
NEW DAY FINANCIAL, LLC | $870,000 | $595,000 | -31.6% | 0.8% |
GUARANTEED RATE, INC. | $525,000 | n/a | 0.7% | |
Gateway First Bank | $270,000 | $500,000 | 85.2% | 0.6% |
CMG MORTGAGE, INC. | $550,000 | $490,000 | -10.9% | 0.6% |
CANOPY MORTGAGE, LLC | $205,000 | $485,000 | 136.6% | 0.6% |
NUSENDA | $125,000 | $460,000 | 268.0% | 0.6% |
First Home Bank | $425,000 | n/a | 0.5% | |
ZILLOW HOME LOANS, LLC | $405,000 | n/a | 0.5% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $385,000 | n/a | 0.5% | |
Washington Federal Bank | $1,400,000 | $375,000 | -73.2% | 0.5% |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $450,000 | $370,000 | -17.8% | 0.5% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $185,000 | $370,000 | 100.0% | 0.5% |
JPMorgan Chase Bank | $630,000 | $370,000 | -41.3% | 0.5% |
Peoples Bank | $365,000 | n/a | 0.5% | |
STEARNS LENDING, LLC | $360,000 | n/a | 0.5% | |
HOMESTEAD FUNDING CORP. | $355,000 | n/a | 0.5% | |
ALLIANT CREDIT UNION | $345,000 | n/a | 0.4% | |
Carrington Mortgage Services, LLC | $105,000 | $335,000 | 219.0% | 0.4% |
PNC Bank | $330,000 | n/a | 0.4% | |
Barrington Bank & Trust Company, N.A. | $490,000 | $300,000 | -38.8% | 0.4% |
SOUTHWEST STAGE FUNDING, LLC | $295,000 | n/a | 0.4% | |
BELEM SERVICING LLC | $285,000 | n/a | 0.4% | |
Heritage Bank | $285,000 | n/a | 0.4% | |
BAY EQUITY LLC | $275,000 | n/a | 0.4% | |
VILLAGE CAPITAL & INVESTMENT LLC | $105,000 | $270,000 | 157.1% | 0.3% |
IMPAC MORTGAGE CORP. | $265,000 | n/a | 0.3% | |
Strong Home Mortgage, LLC | $265,000 | n/a | 0.3% | |
TOP FLITE FINANCIAL, INC. | $265,000 | n/a | 0.3% | |
First Horizon Bank | $235,000 | n/a | 0.3% | |
AMERICAN ADVISORS GROUP | $220,000 | n/a | 0.3% | |
HOME POINT FINANCIAL CORPORATION | $215,000 | n/a | 0.3% | |
Flagstar Bank, FSB | $295,000 | $210,000 | -28.8% | 0.3% |
LOANPAL, LLC | $175,000 | n/a | 0.2% | |
Nations Lending Corporation | $75,000 | $165,000 | 120.0% | 0.2% |
Equity Prime Mortgage LLC | $155,000 | n/a | 0.2% | |
Zions Bancorporation, N.A. | $155,000 | n/a | 0.2% | |
AMERICAN FIRST | $145,000 | n/a | 0.2% | |
NETWORK CAPITAL FUNDING CORPORATION | $145,000 | n/a | 0.2% | |
United Nations Federal Credit Union | $145,000 | n/a | 0.2% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $195,000 | $135,000 | -30.8% | 0.2% |
Commerce Home Mortgage, Inc. | $275,000 | $135,000 | -50.9% | 0.2% |
INTERCAP LENDING INC. | $135,000 | n/a | 0.2% | |
WESCOM CENTRAL CREDIT UNION | $135,000 | n/a | 0.2% | |
Plains Commerce Bank | $125,000 | n/a | 0.2% | |
AMERICAN INTERNET MORTGAGE, INC. | $115,000 | n/a | 0.1% | |
Kirtland Federal Credit Union | $95,000 | n/a | 0.1% | |
CENTENNIAL LENDING, LLC | $75,000 | n/a | 0.1% | |
LEGACY MORTGAGE LLC | $330,000 | $75,000 | -77.3% | 0.1% |
OCEANSIDE MORTGAGE COMPANY | $75,000 | $75,000 | 0.0% | 0.1% |
UNIVERSAL LENDING CORPORATION | $45,000 | n/a | 0.1% | |
Home Loan Investment Bank, F.S.B. | $25,000 | n/a | 0.0% |
Gallup's top lender by overall market share is QUICKEN LOANS, LLC, with 11.9% market share. In second place, with 6.9%, is Bank of Colorado, having originated $5,355,000 in loans. In third place, with 6.5%, is CALIBER HOME LOANS, INC., having originated $5,075,000 in loans. In fourth place, with 5.5%, is Mortgage Research Center, LLC, having originated $4,270,000 in loans. In fifth place, with 5.2%, is CALCON MUTUAL MORTGAGE LLC, having originated $4,035,000 in loans.
Gallup Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Gallup (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 | $158,500 (10.1%) | $172,906 (4.7%) | 0.00 | 73 |
2018-02-01 | $149,000 (3.8%) | $160,873 (-2.1%) | 0.00 | 74 |
2018-03-01 | $140,000 (-5.1%) | $164,889 (-2.5%) | 0.00 | 76 |
2018-04-01 | $147,975 (-7.5%) | $172,386 (-6.3%) | 0.00 | 79 |
2018-05-01 | $147,000 (-10.1%) | $178,602 (-5.0%) | 0.00 | 92 |
2018-06-01 | $149,950 (-9.9%) | $179,064 (-6.0%) | 0.00 | 94 |
2018-07-01 | $145,000 (-12.1%) | $175,457 (-5.1%) | 0.00 | 95 |
2018-08-01 | $145,000 (-7.0%) | $173,453 (-1.6%) | 0.00 | 92 |
2018-09-01 | $152,000 (1.4%) | $181,639 (5.8%) | 0.00 | 97 |
2018-10-01 | $146,950 (-2.0%) | $174,415 (5.2%) | 0.00 | 94 |
2018-11-01 | $138,500 (-10.1%) | $168,457 (-0.9%) | 0.00 | 83 |
2018-12-01 | $137,800 (-12.2%) | $158,847 (-7.5%) | 0.00 | 79 |
2019-01-01 | $135,000 (-14.8%) | $157,910 (-8.7%) | 0.00 | 70 |
2019-02-01 | $135,000 (-9.4%) | $168,117 (4.5%) | 0.00 | 68 |
2019-03-01 | $135,000 (-3.6%) | $167,512 (1.6%) | 0.00 | 74 |
2019-04-01 | $135,000 (-8.8%) | $166,617 (-3.4%) | 0.00 | 77 |
2019-05-01 | $139,475 (-5.1%) | $165,528 (-7.3%) | 0.00 | 85 |
2019-06-01 | $139,900 (-6.7%) | $173,872 (-2.9%) | 0.00 | 86 |
2019-07-01 | $146,675 (1.2%) | $183,576 (4.6%) | 0.00 | 77 |
2019-08-01 | $143,473 (-1.1%) | $185,465 (6.9%) | 0.00 | 76 |
2019-09-01 | $144,332 (-5.0%) | $182,149 (0.3%) | 0.00 | 76 |
2019-10-01 | $146,000 (-0.7%) | $180,642 (3.6%) | 0.00 | 75 |
2019-11-01 | $165,000 (19.1%) | $185,679 (10.2%) | 0.00 | 70 |
2019-12-01 | $166,875 (21.1%) | $197,524 (24.4%) | 0.00 | 66 |
2020-01-01 | $171,500 (27.0%) | $209,767 (32.8%) | 0.00 | 62 |
2020-02-01 | $162,000 (20.0%) | $202,658 (20.6%) | 0.00 | 60 |
2020-03-01 | $171,500 (27.0%) | $204,107 (21.9%) | 0.00 | 58 |
2020-04-01 | $181,230 (34.2%) | $200,319 (20.2%) | 0.00 | 56 |
2020-05-01 | $175,000 (25.5%) | $193,301 (16.8%) | 0.00 | 57 |
2020-06-01 | $156,000 (11.5%) | $197,796 (13.8%) | 0.00 | 46 |
2020-07-01 | $156,500 (6.7%) | $202,668 (10.4%) | 0.00 | 46 |
2020-08-01 | $169,550 (18.2%) | $193,005 (4.1%) | 0.00 | 55 |
2020-09-01 | $156,750 (8.6%) | $187,898 (3.2%) | 0.00 | 53 |
2020-10-01 | $172,500 (18.2%) | $200,763 (11.1%) | 0.00 | 54 |
2020-11-01 | $173,875 (5.4%) | $208,213 (12.1%) | 0.00 | 61 |
2020-12-01 | $187,175 (12.2%) | $219,815 (11.3%) | 0.00 | 61 |
2021-01-01 | $176,000 (2.6%) | $207,486 (-1.1%) | 0.00 | 50 |
2021-02-01 | $189,213 (16.8%) | $222,393 (9.7%) | 0.00 | 43 |
2021-03-01 | $186,275 (8.6%) | $226,424 (10.9%) | 0.00 | 42 |
2021-04-01 | $195,363 (7.8%) | $235,534 (17.6%) | 0.00 | 39 |
2021-05-01 | $226,200 (29.3%) | $268,608 (39.0%) | 0.00 | 42 |
2021-06-01 | $199,000 (27.6%) | $245,780 (24.3%) | 0.00 | 40 |
2021-07-01 | $194,000 (24.0%) | $236,837 (16.9%) | 0.00 | 49 |
2021-08-01 | $196,000 (15.6%) | $239,941 (24.3%) | 0.00 | 57 |
2021-09-01 | $179,000 (14.2%) | $212,778 (13.2%) | 0.00 | 52 |
2021-10-01 | $175,500 (1.7%) | $214,333 (6.8%) | 0.00 | 54 |
2021-11-01 | $185,500 (6.7%) | $235,359 (13.0%) | 0.00 | 59 |
2021-12-01 | $200,000 (6.9%) | $237,730 (8.2%) | 0.00 | 61 |
2022-01-01 | $212,400 (20.7%) | $250,721 (20.8%) | 0.00 | 58 |
2022-02-01 | $214,700 (13.5%) | $259,126 (16.5%) | 0.00 | 52 |
2022-03-01 | $216,225 (16.1%) | $254,721 (12.5%) | 0.00 | 52 |
2022-04-01 | $217,450 (11.3%) | $284,352 (20.7%) | 0.00 | 16 |
2022-05-01 | $183,701 (-18.8%) | $258,425 (-3.8%) | 0.00 | 17 |
2022-06-01 | $201,675 (1.3%) | $275,021 (11.9%) | 0.00 | 21 |
2022-07-01 | $269,000 (38.7%) | $285,090 (20.4%) | 0.00 | 26 |
2022-08-01 | $275,420 (40.5%) | $304,025 (26.7%) | 0.00 | 20 |
2022-09-01 | $218,975 (22.3%) | $282,568 (32.8%) | 0.00 | 17 |
2022-10-01 | $189,900 (8.2%) | $298,210 (39.1%) | 0.00 | 18 |
2022-11-01 | $204,700 (10.4%) | $258,982 (10.0%) | 0.00 | 18 |
2022-12-01 | $167,400 (-16.3%) | $201,286 (-15.3%) | 0.00 | 19 |
2023-01-01 | $177,675 (-16.4%) | $198,550 (-20.8%) | 0.00 | 17 |
2023-02-01 | $216,250 (0.7%) | $210,284 (-18.9%) | 0.00 | 16 |
Gallup's median listing price comes in at 0% of the national average.
Gallup's average listing price for 2023-02-01 was $210,284, a difference of $-48,842 (-18.9%) versus the prior year and $11,734 versus the prior month.
For the 2023-02-01 period, Gallup had 16 MLS listings, a difference of -1 listings (-6%) versus the prior month and -36 listings (-69%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gallup (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,752 sqft |
2018-02-01 | 0 days | 1,603 sqft |
2018-03-01 | 0 days | 1,609 sqft |
2018-04-01 | 0 days | 1,620 sqft |
2018-05-01 | 0 days | 1,611 sqft |
2018-06-01 | 0 days | 1,609 sqft |
2018-07-01 | 0 days | 1,616 sqft |
2018-08-01 | 0 days | 1,608 sqft |
2018-09-01 | 0 days | 1,630 sqft |
2018-10-01 | 0 days | 1,612 sqft |
2018-11-01 | 0 days | 1,560 sqft |
2018-12-01 | 0 days | 1,534 sqft |
2019-01-01 | 0 days | 1,521 sqft |
2019-02-01 | 0 days | 1,524 sqft |
2019-03-01 | 0 days | 1,518 sqft |
2019-04-01 | 0 days | 1,530 sqft |
2019-05-01 | 0 days | 1,528 sqft |
2019-06-01 | 0 days | 1,521 sqft |
2019-07-01 | 0 days | 1,565 sqft |
2019-08-01 | 0 days | 1,541 sqft |
2019-09-01 | 0 days | 1,521 sqft |
2019-10-01 | 0 days | 1,553 sqft |
2019-11-01 | 0 days | 1,610 sqft |
2019-12-01 | 0 days | 1,637 sqft |
2020-01-01 | 0 days | 1,718 sqft |
2020-02-01 | 0 days | 1,611 sqft |
2020-03-01 | 0 days | 1,629 sqft |
2020-04-01 | 0 days | 1,811 sqft |
2020-05-01 | 0 days | 1,805 sqft |
2020-06-01 | 0 days | 1,805 sqft |
2020-07-01 | 0 days | 1,817 sqft |
2020-08-01 | 0 days | 1,652 sqft |
2020-09-01 | 0 days | 1,645 sqft |
2020-10-01 | 0 days | 1,651 sqft |
2020-11-01 | 0 days | 1,847 sqft |
2020-12-01 | 0 days | 1,903 sqft |
2021-01-01 | 0 days | 1,884 sqft |
2021-02-01 | 0 days | 1,815 sqft |
2021-03-01 | 0 days | 1,796 sqft |
2021-04-01 | 0 days | 1,726 sqft |
2021-05-01 | 0 days | 1,772 sqft |
2021-06-01 | 0 days | 1,749 sqft |
2021-07-01 | 0 days | 1,728 sqft |
2021-08-01 | 0 days | 1,723 sqft |
2021-09-01 | 0 days | 1,626 sqft |
2021-10-01 | 0 days | 1,744 sqft |
2021-11-01 | 0 days | 1,693 sqft |
2021-12-01 | 0 days | 1,704 sqft |
2022-01-01 | 0 days | 1,792 sqft |
2022-02-01 | 0 days | 1,786 sqft |
2022-03-01 | 0 days | 1,792 sqft |
2022-04-01 | 0 days | 1,786 sqft |
2022-05-01 | 0 days | 1,693 sqft |
2022-06-01 | 0 days | 1,910 sqft |
2022-07-01 | 0 days | 2,010 sqft |
2022-08-01 | 0 days | 1,800 sqft |
2022-09-01 | 0 days | 1,605 sqft |
2022-10-01 | 0 days | 1,578 sqft |
2022-11-01 | 0 days | 1,570 sqft |
2022-12-01 | 0 days | 1,580 sqft |
2023-01-01 | 0 days | 1,570 sqft |
2023-02-01 | 0 days | 1,618 sqft |
Gallup's median square footage for active listings during the 2023-02-01 period was 1,618 sqft. One year prior, the average listing was 1,786 sqft.
Gallup, NM Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 240 | $41,020,000 | $170,917 |
Refi | 172 | $26,900,000 | $156,395 |
Cash Out Refi | 58 | $9,550,000 | $164,655 |
Other | 5 | $195,000 | $39,000 |
Home Improvement | 4 | $280,000 | $70,000 |
Gallup's most frequently cited loan purpose was Home Purchase, with 240 originations. The 2nd most popular reason was Refi, with 172 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 175 | $31,125,000 | $177,857 |
3-4% | 155 | $25,645,000 | $165,452 |
<2.5% | 79 | $14,035,000 | $177,658 |
Over 8% | 31 | $2,455,000 | $79,194 |
4-5% | 14 | $2,250,000 | $160,714 |
7-8% | 12 | $1,090,000 | $90,833 |
6-7% | 9 | $885,000 | $98,333 |
5-6% | 4 | $460,000 | $115,000 |
During 2021, Gallup's most frequently originated rate bucket was 2.5-3%, with 175 originations.
Loan Sizing (Gallup, NM MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 251 | $36,585,000 | $145,757 |
$200k-400k | 123 | $32,995,000 | $268,252 |
$100,000 or less | 101 | $6,685,000 | $66,188 |
$400k-600k | 4 | $1,680,000 | $420,000 |
Gallup's loan sizing saw the bucket of loans from $100k-200k with 251 originations, totaling $36,585,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 239 | $43,225,000 | $180,858 |
60-80% | 137 | $21,765,000 | $158,869 |
40-60% | 47 | $5,935,000 | $126,277 |
20-40% | 14 | $1,150,000 | $82,143 |
Under 20% | 11 | $175,000 | $15,909 |
Over 100% | 4 | $820,000 | $205,000 |
Gallup's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 239 originations, totaling $43,225,000 in origination value.