Gallup Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Gallup averaged 7.15% for the week of 2023-11-22, compared to the national average of 7.29% for the same period.

The average rate for the prior week (2023-11-16) was 7.3% and one month ago for the week of 2023-10-19, the average rate was 7.39%.

Gallup's average rate one year ago was 6.17%.

For refis of the same type during the week of 2023-11-22, the average rate was 7.59%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-11-22 7.29%
Gallup 30 Year Fixed Rate 2023-11-22 7.15%
Gallup 30 Year Fixed Rate Refi 2023-11-22 7.59%
Gallup 15 Year Fixed Rate 2023-11-22 6.57%
Gallup 15 Year Fixed Rate Refi 2023-11-22 6.97%
Gallup 30 Year FHA 2023-11-22 -0.1%
Gallup 30 Year FHA Refi 2023-11-22 0%
Gallup 30 Year USDA 2023-11-22 0.1%
Gallup 30 Year USDA Refi 2023-11-22 -0.2%
Gallup 30 Year VA 2023-11-22 -0.1%
Gallup 30 Year VA Refi 2023-11-22 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Gallup, NM.

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.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 10 5.08% $6,445
CALCON MUTUAL MORTGAGE LLC 8 5.80% $4,656
LOANDEPOT.COM, LLC 7 5.39% $4,815
Bank of Colorado 6 5.12% $5,258
Wells Fargo Bank 6 4.92% $3,446
Nations Lending Corporation 5 6.10% $5,257
Waterstone Mortgage Corporation 4 6.41% $4,598
First Financial Credit Union 4 4.09% $4,488
CMG MORTGAGE, INC. 3 4.79% $5,932
U.S. Bank 3 4.74% $2,990
BOKF 3 4.33% $4,217
FINANCE OF AMERICA MORTGAGE LLC 2 5.37% $6,613
PENNYMAC LOAN SERVICES, LLC 2 4.75% $6,788
UNITED WHOLESALE MORTGAGE, LLC 2 3.82% $11,983
BETTER MORTGAGE CORPORATION 2 3.25% $4,931
NUSENDA 1 5.38% $4,623
PNC Bank 1 3.25% $5,948
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.50% $3,507
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.13% $9,505
RANLIFE, INC. 1 4.00% $4,413
Washington Federal Bank 1 5.25% $2,510
Wyndham Capital Mortgage, Inc. 1 4.38% $3,036
AMERICAN FINANCING CORPORATION 1 3.25% $5,986
ZILLOW HOME LOANS, LLC 1 4.38% $6,647
BMO Harris Bank 1 5.13% $3,799
BROKER SOLUTIONS, INC. 1 5.50% $9,283
Carrollton Bank 1 3.25% $2,609
Chickasaw Community Bank 1 3.25% $4,711
CORNERSTONE HOME LENDING, INC. 1 5.38% $6,415
CROSSCOUNTRY MORTGAGE, LLC 1 4.38% $5,678
Goldwater Bank, N.A. 1 3.25% $5,907
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.88% $8,588
Loan Simple, Inc. 1 3.88% $4,458
Mortgage Research Center, LLC 1 3.13% $3,722
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.38% $11,461
Mr. Cooper ( Nationstar Mortgage ) 1 4.75% $7,597
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.13% $4,172
NEWREZ LLC 1 6.50% $2,741

Gallup Average Closing Costs & Other Stats

Gallup, NM's 38 lenders originated 346 loans during 2022. The total origination value was $58,580,000, with an average loan value of $169,306.

Gallup's average closing costs are $5,261.

The top Gallup lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 loans originated. Their average total fees are $6,445, which is $1,789 higher than the next largest lender, CALCON MUTUAL MORTGAGE LLC.

The lowest fee Gallup lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,445), .

The lowest rate Gallup lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.08%), .

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Waterstone Mortgage Corporation $3,515,000 $5,225,000 48.6% 8.9%
Washington Federal Bank $375,000 $5,110,000 1,262.7% 8.7%
QUICKEN LOANS, LLC $9,290,000 $4,555,000 -51.0% 7.8%
Bank of Colorado $5,355,000 $4,225,000 -21.1% 7.2%
CALCON MUTUAL MORTGAGE LLC $4,035,000 $3,635,000 -9.9% 6.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $2,495,000 $2,575,000 3.2% 4.4%
Mortgage Research Center, LLC $4,270,000 $2,145,000 -49.8% 3.7%
LOANDEPOT.COM, LLC $2,455,000 $2,110,000 -14.1% 3.6%
Wells Fargo Bank $2,010,000 $1,990,000 -1.0% 3.4%
Nations Lending Corporation $165,000 $1,870,000 1,033.3% 3.2%
21ST MORTGAGE CORPORATION $2,105,000 $1,450,000 -31.1% 2.5%
FINANCE OF AMERICA MORTGAGE LLC $630,000 $1,320,000 109.5% 2.3%
CMG MORTGAGE, INC. $490,000 $1,170,000 138.8% 2.0%
U.S. Bank $2,030,000 $1,150,000 -43.3% 2.0%
UNITED WHOLESALE MORTGAGE, LLC $1,135,000 $1,020,000 -10.1% 1.7%
PENNYMAC LOAN SERVICES, LLC $630,000 $950,000 50.8% 1.6%
First Financial Credit Union $885,000 n/a 1.5%
NAVY FEDERAL CREDIT UNION $805,000 n/a 1.4%
CALIBER HOME LOANS, INC. $5,075,000 $800,000 -84.2% 1.4%
BETTER MORTGAGE CORPORATION $785,000 n/a 1.3%
Carrington Mortgage Services, LLC $335,000 $720,000 114.9% 1.2%
LOANPAL, LLC $175,000 $690,000 294.3% 1.2%
BOKF $1,695,000 $675,000 -60.2% 1.2%
Mr. Cooper ( Nationstar Mortgage ) $1,445,000 $620,000 -57.1% 1.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $370,000 $615,000 66.2% 1.0%
MID AMERICA MORTGAGE, INC. $2,550,000 $605,000 -76.3% 1.0%
MOUNTAIN AMERICA $550,000 n/a 0.9%
BMO Harris Bank $515,000 n/a 0.9%
LEGACY MORTGAGE LLC $75,000 $485,000 546.7% 0.8%
FREEDOM MORTGAGE CORPORATION $2,985,000 $455,000 -84.8% 0.8%
Chickasaw Community Bank $645,000 $450,000 -30.2% 0.8%
ZILLOW HOME LOANS, LLC $405,000 $445,000 9.9% 0.8%
NUSENDA $460,000 $420,000 -8.7% 0.7%
CROSSCOUNTRY MORTGAGE, LLC $415,000 n/a 0.7%
LAKEVIEW LOAN SERVICING, LLC $735,000 $400,000 -45.6% 0.7%
MORTGAGE SOLUTIONS OF COLORADO, LLC $380,000 n/a 0.6%
USAA Federal Savings Bank $940,000 $375,000 -60.1% 0.6%
ACADEMY MORTGAGE CORPORATION $690,000 $365,000 -47.1% 0.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $385,000 $350,000 -9.1% 0.6%
CORNERSTONE HOME LENDING, INC. $340,000 n/a 0.6%
Bank of America $1,030,000 $310,000 -69.9% 0.5%
Amerifirst Financial, Inc. $295,000 n/a 0.5%
PNC Bank $330,000 $285,000 -13.6% 0.5%
NEWREZ LLC $1,285,000 $280,000 -78.2% 0.5%
PRIMARY RESIDENTIAL MORTGAGE, INC. $855,000 $270,000 -68.4% 0.5%
GUARANTEED RATE AFFINITY, LLC $265,000 n/a 0.5%
Barrington Bank & Trust Company, N.A. $300,000 $250,000 -16.7% 0.4%
PRIMELENDING, A PLAINSCAPITAL COMPANY $235,000 n/a 0.4%
BROKER SOLUTIONS, INC. $1,670,000 $205,000 -87.7% 0.3%
Loan Simple, Inc. $205,000 n/a 0.3%
Wyndham Capital Mortgage, Inc. $205,000 n/a 0.3%
BAY EQUITY LLC $275,000 $195,000 -29.1% 0.3%
CHURCHILL MORTGAGE CORPORATION $735,000 $185,000 -74.8% 0.3%
AMERISAVE MORTGAGE CORPORATION $1,040,000 $175,000 -83.2% 0.3%
MANN FINANCIAL INC. $175,000 n/a 0.3%
GUARANTEED RATE, INC. $525,000 $155,000 -70.5% 0.3%
CLEARPATH LENDING $135,000 n/a 0.2%
Watermark Capital, Inc. $135,000 n/a 0.2%
Kirtland Federal Credit Union $95,000 $125,000 31.6% 0.2%
LEADERONE FINANCIAL CORPORATION $115,000 n/a 0.2%
OCEANSIDE MORTGAGE COMPANY $75,000 $115,000 53.3% 0.2%
First Financial Bank $110,000 n/a 0.2%
AMERICAN FINANCING CORPORATION $105,000 n/a 0.2%
M&T Bank $95,000 n/a 0.2%
RANLIFE, INC. $95,000 n/a 0.2%
Goldwater Bank, N.A. $85,000 n/a 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $75,000 n/a 0.1%
Carrollton Bank $55,000 n/a 0.1%

Gallup's top lender by overall market share is Waterstone Mortgage Corporation, with 8.9% market share. In second place, with 8.7%, is Washington Federal Bank, having originated $5,110,000 in loans. In third place, with 7.8%, is QUICKEN LOANS, LLC, having originated $4,555,000 in loans. In fourth place, with 7.2%, is Bank of Colorado, having originated $4,225,000 in loans. In fifth place, with 6.2%, is CALCON MUTUAL MORTGAGE LLC, having originated $3,635,000 in loans.


Gallup Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Gallup (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date 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%) $161,604 (-1.6%) 0.00 74
2018-03-01 $142,450 (-3.4%) $163,845 (-3.1%) 0.00 76
2018-04-01 $144,900 (-9.4%) $171,582 (-6.7%) 0.00 79
2018-05-01 $149,000 (-8.9%) $179,647 (-4.4%) 0.00 92
2018-06-01 $149,950 (-9.9%) $179,064 (-6.0%) 0.00 94
2018-07-01 $145,000 (-12.1%) $175,163 (-5.2%) 0.00 95
2018-08-01 $145,000 (-7.0%) $173,993 (-1.3%) 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%) $158,713 (-7.6%) 0.00 79
2019-01-01 $135,000 (-14.8%) $157,602 (-8.9%) 0.00 70
2019-02-01 $135,000 (-9.4%) $168,117 (4.0%) 0.00 68
2019-03-01 $135,000 (-5.2%) $167,512 (2.2%) 0.00 74
2019-04-01 $135,000 (-6.8%) $166,632 (-2.9%) 0.00 77
2019-05-01 $139,475 (-6.4%) $165,528 (-7.9%) 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 (4.8%) 0.00 77
2019-08-01 $143,473 (-1.1%) $185,465 (6.6%) 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 (24.5%) 0.00 66
2020-01-01 $171,500 (27.0%) $209,767 (33.1%) 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 $214,900 (22.1%) $255,058 (22.9%) 0.00 59
2022-02-01 $216,075 (14.2%) $264,148 (18.8%) 0.00 53
2022-03-01 $218,700 (17.4%) $259,769 (14.7%) 0.00 53
2022-04-01 $225,000 (15.2%) $294,486 (25.0%) 0.00 17
2022-05-01 $192,403 (-14.9%) $271,467 (1.1%) 0.00 18
2022-06-01 $204,450 (2.7%) $284,108 (15.6%) 0.00 22
2022-07-01 $274,500 (41.5%) $292,976 (23.7%) 0.00 27
2022-08-01 $284,950 (45.4%) $313,443 (30.6%) 0.00 21
2022-09-01 $229,625 (28.3%) $295,221 (38.8%) 0.00 18
2022-10-01 $217,200 (23.8%) $309,486 (44.4%) 0.00 19
2022-11-01 $222,500 (20.0%) $272,390 (15.7%) 0.00 19
2022-12-01 $167,750 (-16.1%) $201,286 (-15.3%) 0.00 19
2023-01-01 $177,675 (-17.3%) $198,550 (-22.2%) 0.00 17
2023-02-01 $216,250 (0.1%) $210,284 (-20.4%) 0.00 16
2023-03-01 $180,625 (-17.4%) $206,053 (-20.7%) 0.00 17
2023-04-01 $250,000 (11.1%) $236,574 (-19.7%) 0.00 18
2023-05-01 $228,750 (18.9%) $234,186 (-13.7%) 0.00 19
2023-06-01 $240,000 (17.4%) $322,570 (13.5%) 0.00 18
2023-07-01 $225,000 (-18.0%) $322,686 (10.1%) 0.00 20
2023-08-01 $217,500 (-23.7%) $292,257 (-6.8%) 0.00 33
2023-09-01 $220,000 (-4.2%) $555,598 (88.2%) 0.00 41
2023-10-01 $276,750 (27.4%) $332,572 (7.5%) 0.00 34
Gallup's median listing price for 2023-10-01 was $276,750, a difference of $59,550 (27.4%) versus the prior year and $56,750 versus the prior month.

Gallup's median listing price comes in at 0% of the national average.

Gallup's average listing price for 2023-10-01 was $332,572, a difference of $23,086 (7.5%) versus the prior year and $-223,026 versus the prior month.

For the 2023-10-01 period, Gallup had 34 MLS listings, a difference of -7 listings (-17%) versus the prior month and 15 listings (79%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gallup (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date 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 1,621 sqft
2018-05-01 0 days 1,613 sqft
2018-06-01 0 days 1,608 sqft
2018-07-01 0 days 1,614 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 1,521 sqft
2019-03-01 0 days 1,518 sqft
2019-04-01 0 days 1,532 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 1,790 sqft
2022-03-01 0 days 1,792 sqft
2022-04-01 0 days 1,794 sqft
2022-05-01 0 days 1,746 sqft
2022-06-01 0 days 1,965 sqft
2022-07-01 0 days 2,013 sqft
2022-08-01 0 days 1,826 sqft
2022-09-01 0 days 1,615 sqft
2022-10-01 0 days 1,614 sqft
2022-11-01 0 days 1,580 sqft
2022-12-01 0 days 1,581 sqft
2023-01-01 0 days 1,570 sqft
2023-02-01 0 days 1,618 sqft
2023-03-01 0 days 1,648 sqft
2023-04-01 0 days 1,730 sqft
2023-05-01 0 days 1,649 sqft
2023-06-01 0 days 1,730 sqft
2023-07-01 0 days 1,629 sqft
2023-08-01 0 days 1,616 sqft
2023-09-01 0 days 1,581 sqft
2023-10-01 0 days 1,573 sqft
Gallup's median listing age (time on market) for 2023-10-01 was 0 days.

Gallup's median square footage for active listings during the 2023-10-01 period was 1,573 sqft. One year prior, the average listing was 1,614 sqft.

Gallup, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 223 $37,295,000 $167,242
Cash Out Refi 54 $8,380,000 $155,185
Refi 46 $6,460,000 $140,435
Other 12 $5,810,000 $484,167
Home Improvement 11 $635,000 $57,727

Gallup's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 82 $14,380,000 $175,366
5-6% 76 $13,890,000 $182,763
4-5% 65 $10,875,000 $167,308
6-7% 41 $6,005,000 $146,463
7-8% 27 $6,785,000 $251,296
Over 8% 24 $2,170,000 $90,417
2.5-3% 24 $3,690,000 $153,750
<2.5% 6 $780,000 $130,000

During 2022, Gallup's most frequently originated rate bucket was 3-4%, with 82 originations.

Loan Sizing (Gallup, NM MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 168 $25,050,000 $149,107
$100,000 or less 90 $5,040,000 $56,000
$200k-400k 82 $21,480,000 $261,951
$400k-600k 4 $1,890,000 $472,500
$600k-1000k 1 $615,000 $615,000
$Over $1MM 1 $4,505,000 $4,505,000

Gallup's loan sizing saw the bucket of loans from $100k-200k with 168 originations, totaling $25,050,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 185 $34,805,000 $188,135
60-80% 87 $13,485,000 $155,000
40-60% 27 $3,215,000 $119,074
Under 20% 26 $360,000 $13,846
20-40% 18 $5,850,000 $325,000
Over 100% 2 $690,000 $345,000

Gallup's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 185 originations, totaling $34,805,000 in origination value.