Hereford Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Hereford averaged
7.01%
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
7.34% and
one month ago for the week of 2023-02-09, the
average rate was 6.63%.
Hereford's average rate one year ago was 4.06%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.69%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Hereford 30 Year Fixed Rate | 2023-03-16 | 7.01% |
Hereford 30 Year Fixed Rate Refi | 2023-03-16 | 6.69% |
Hereford 15 Year Fixed Rate | 2023-03-16 | 7.13% |
Hereford 15 Year Fixed Rate Refi | 2023-03-16 | 6.21% |
Hereford 30 Year FHA | 2023-03-16 | 6.95% |
Hereford 30 Year FHA Refi | 2023-03-16 | 6.45% |
Hereford 30 Year USDA | 2023-03-16 | 6.88% |
Hereford 30 Year VA | 2023-03-16 | 6.43% |
Hereford 30 Year VA Refi | 2023-03-16 | 5.75% |
Hereford 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 Hereford, TX 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.).
Hereford Average Closing Costs & Other Stats
Hereford, TX's 31 lenders originated 306
loans during 2021. The total origination value was $44,740,000, with an average loan value of
$146,209.
Hereford's average closing costs are $5,829.
The top Hereford lender as defined by loan originations is AMCAP MORTGAGE, LTD., with
10 loans originated. Their average total fees are
$6,828, which is $2,560
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Hereford lenders (with over 10 loans originated) are
AMCAP MORTGAGE, LTD. ($6,828), .
The lowest rate Hereford lenders (with over 10 loans originated) are
AMCAP MORTGAGE, LTD. (3.35%), .
Hereford, TX 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 |
---|---|---|---|---|
AMCAP MORTGAGE, LTD. | $2,520,000 | $11,675,000 | 363.3% | 26.1% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $4,165,000 | $4,300,000 | 3.2% | 9.6% |
FirstBank Southwest | $2,475,000 | $3,165,000 | 27.9% | 7.1% |
QUICKEN LOANS, LLC | $1,295,000 | $2,940,000 | 127.0% | 6.6% |
Amarillo National Bank | $2,270,000 | $2,285,000 | 0.7% | 5.1% |
First Financial Bank | $4,590,000 | $2,245,000 | -51.1% | 5.0% |
TIB The Independent Bankersbank | $1,415,000 | $2,240,000 | 58.3% | 5.0% |
Equity Bank | $1,365,000 | n/a | 3.1% | |
21ST MORTGAGE CORPORATION | $550,000 | $1,210,000 | 120.0% | 2.7% |
Happy State Bank | $1,210,000 | $885,000 | -26.9% | 2.0% |
EUSTIS AND AMERICAN MORTGAGE COMPANY | $505,000 | $730,000 | 44.6% | 1.6% |
First United Bank | $115,000 | $675,000 | 487.0% | 1.5% |
EVERETT FINANCIAL, INC. | $1,525,000 | $655,000 | -57.0% | 1.5% |
NAVY FEDERAL CREDIT UNION | $605,000 | n/a | 1.4% | |
Network Funding, L.P. | $225,000 | $485,000 | 115.6% | 1.1% |
Wells Fargo Bank | $65,000 | $475,000 | 630.8% | 1.1% |
ARC HOME LLC | $445,000 | n/a | 1.0% | |
Mr. Cooper ( Nationstar Mortgage ) | $365,000 | $400,000 | 9.6% | 0.9% |
Herring Bank | $1,055,000 | $390,000 | -63.0% | 0.9% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $375,000 | n/a | 0.8% | |
First National Bank Texas | $115,000 | $365,000 | 217.4% | 0.8% |
INFINITY MORTGAGE HOLDINGS, LLC | $390,000 | $350,000 | -10.3% | 0.8% |
FREEDOM MORTGAGE CORPORATION | $135,000 | $335,000 | 148.1% | 0.7% |
JPMorgan Chase Bank | $95,000 | $300,000 | 215.8% | 0.7% |
UNITED WHOLESALE MORTGAGE, LLC | $265,000 | $300,000 | 13.2% | 0.7% |
Education Credit Union | $120,000 | $295,000 | 145.8% | 0.7% |
ASSOCIATED MORTGAGE CORPORATION | $290,000 | n/a | 0.6% | |
City Bank | $290,000 | n/a | 0.6% | |
BETTER MORTGAGE CORPORATION | $275,000 | n/a | 0.6% | |
HOMESIDE FINANCIAL, LLC | $245,000 | n/a | 0.5% | |
Gateway First Bank | $230,000 | n/a | 0.5% | |
U.S. Bank | $115,000 | $225,000 | 95.7% | 0.5% |
CMG MORTGAGE, INC. | $215,000 | n/a | 0.5% | |
LOANDEPOT.COM, LLC | $195,000 | $215,000 | 10.3% | 0.5% |
CALIBER HOME LOANS, INC. | $185,000 | n/a | 0.4% | |
Prosperity Bank | $185,000 | n/a | 0.4% | |
SOUTHWEST STAGE FUNDING, LLC | $55,000 | $180,000 | 227.3% | 0.4% |
THRIVE MORTGAGE, LLC | $175,000 | n/a | 0.4% | |
NATIONS RELIABLE LENDING, LLC | $275,000 | $165,000 | -40.0% | 0.4% |
Access Community Credit Union | $155,000 | n/a | 0.3% | |
AMERICAN FINANCIAL NETWORK, INC. | $155,000 | n/a | 0.3% | |
AMERISAVE MORTGAGE CORPORATION | $145,000 | n/a | 0.3% | |
First Guaranty Mortgage Corporation | $145,000 | n/a | 0.3% | |
PENNYMAC LOAN SERVICES, LLC | $145,000 | $145,000 | 0.0% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $145,000 | $145,000 | 0.0% | 0.3% |
Discover Bank | $135,000 | n/a | 0.3% | |
JMAC LENDING, INC. | $125,000 | n/a | 0.3% | |
LAKEVIEW LOAN SERVICING, LLC | $125,000 | n/a | 0.3% | |
VILLAGE CAPITAL & INVESTMENT LLC | $105,000 | $125,000 | 19.0% | 0.3% |
Alliance Credit Union | $115,000 | n/a | 0.3% | |
CHURCHILL MORTGAGE CORPORATION | $105,000 | n/a | 0.2% | |
BROKER SOLUTIONS, INC. | $95,000 | n/a | 0.2% | |
COUNTRYPLACE MORTGAGE, LTD. | $75,000 | $95,000 | 26.7% | 0.2% |
West Gate Bank | $95,000 | n/a | 0.2% | |
Flagstar Bank, FSB | $85,000 | n/a | 0.2% | |
J. VIRGIL, INC. | $85,000 | n/a | 0.2% | |
NEWREZ LLC | $95,000 | $85,000 | -10.5% | 0.2% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $105,000 | $85,000 | -19.0% | 0.2% |
AmeriHome Mortgage Company, LLC | $75,000 | n/a | 0.2% | |
AMERICAN ADVISORS GROUP | $55,000 | n/a | 0.1% |
Hereford's top lender by overall market share is AMCAP MORTGAGE, LTD., with 26.1% market share. In second place, with 9.6%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $4,300,000 in loans. In third place, with 7.1%, is FirstBank Southwest, having originated $3,165,000 in loans. In fourth place, with 6.6%, is QUICKEN LOANS, LLC, having originated $2,940,000 in loans. In fifth place, with 5.1%, is Amarillo National Bank, having originated $2,285,000 in loans.
Hereford Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Hereford (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 | $138,700 (26.1%) | $206,651 (26.3%) | 0.00 | 34 |
2018-02-01 | $139,500 (27.5%) | $196,519 (20.1%) | 0.00 | 35 |
2018-03-01 | $143,500 (10.4%) | $199,840 (5.0%) | 0.00 | 33 |
2018-04-01 | $146,975 (4.1%) | $198,956 (-0.7%) | 0.00 | 28 |
2018-05-01 | $163,000 (11.5%) | $192,755 (-7.9%) | 0.00 | 29 |
2018-06-01 | $176,000 (19.9%) | $194,838 (-9.6%) | 0.00 | 29 |
2018-07-01 | $148,200 (5.9%) | $190,692 (-8.5%) | 0.00 | 30 |
2018-08-01 | $179,900 (29.1%) | $213,160 (3.1%) | 0.00 | 29 |
2018-09-01 | $180,000 (25.1%) | $215,515 (3.8%) | 0.00 | 24 |
2018-10-01 | $172,900 (21.2%) | $204,381 (-0.1%) | 0.00 | 26 |
2018-11-01 | $154,900 (4.5%) | $204,841 (-6.6%) | 0.00 | 27 |
2018-12-01 | $189,950 (37.7%) | $206,415 (0.2%) | 0.00 | 25 |
2019-01-01 | $195,000 (40.6%) | $203,056 (-1.7%) | 0.00 | 24 |
2019-02-01 | $197,000 (41.2%) | $195,939 (-0.3%) | 0.00 | 25 |
2019-03-01 | $209,286 (45.8%) | $221,832 (11.0%) | 0.00 | 23 |
2019-04-01 | $196,786 (33.9%) | $221,921 (11.5%) | 0.00 | 21 |
2019-05-01 | $182,100 (11.7%) | $216,139 (12.1%) | 0.00 | 24 |
2019-06-01 | $165,500 (-6.0%) | $211,842 (8.7%) | 0.00 | 24 |
2019-07-01 | $165,875 (11.9%) | $201,202 (5.5%) | 0.00 | 26 |
2019-08-01 | $164,182 (-8.7%) | $195,641 (-8.2%) | 0.00 | 28 |
2019-09-01 | $165,205 (-8.2%) | $190,153 (-11.8%) | 0.00 | 33 |
2019-10-01 | $164,761 (-4.7%) | $186,495 (-8.8%) | 0.00 | 35 |
2019-11-01 | $168,500 (8.8%) | $192,826 (-5.9%) | 0.00 | 30 |
2019-12-01 | $179,750 (-5.4%) | $207,128 (0.4%) | 0.00 | 29 |
2020-01-01 | $181,125 (-7.1%) | $211,487 (4.2%) | 0.00 | 30 |
2020-02-01 | $189,750 (-3.7%) | $217,755 (11.1%) | 0.00 | 29 |
2020-03-01 | $209,000 (-0.1%) | $226,590 (2.1%) | 0.00 | 25 |
2020-04-01 | $209,000 (6.2%) | $227,872 (2.7%) | 0.00 | 24 |
2020-05-01 | $203,000 (11.5%) | $220,441 (2.0%) | 0.00 | 24 |
2020-06-01 | $203,000 (22.7%) | $214,566 (1.3%) | 0.00 | 28 |
2020-07-01 | $189,225 (14.1%) | $203,521 (1.2%) | 0.00 | 31 |
2020-08-01 | $180,000 (9.6%) | $185,367 (-5.3%) | 0.00 | 28 |
2020-09-01 | $186,600 (13.0%) | $183,928 (-3.3%) | 0.00 | 27 |
2020-10-01 | $183,500 (11.4%) | $180,068 (-3.5%) | 0.00 | 28 |
2020-11-01 | $174,225 (3.4%) | $179,077 (-7.1%) | 0.00 | 30 |
2020-12-01 | $162,438 (-9.6%) | $172,955 (-16.5%) | 0.00 | 32 |
2021-01-01 | $177,475 (-2.0%) | $178,096 (-15.8%) | 0.00 | 29 |
2021-02-01 | $197,000 (3.8%) | $193,318 (-11.2%) | 0.00 | 30 |
2021-03-01 | $188,213 (-10.0%) | $198,163 (-12.6%) | 0.00 | 32 |
2021-04-01 | $170,000 (-18.7%) | $183,813 (-19.3%) | 0.00 | 26 |
2021-05-01 | $172,000 (-15.3%) | $211,405 (-4.1%) | 0.00 | 19 |
2021-06-01 | $175,000 (-13.8%) | $218,386 (1.8%) | 0.00 | 24 |
2021-07-01 | $180,975 (-4.4%) | $268,311 (31.8%) | 0.00 | 21 |
2021-08-01 | $204,200 (13.4%) | $253,909 (37.0%) | 0.00 | 23 |
2021-09-01 | $193,225 (3.6%) | $267,412 (45.4%) | 0.00 | 24 |
2021-10-01 | $209,950 (14.4%) | $297,491 (65.2%) | 0.00 | 26 |
2021-11-01 | $217,450 (24.8%) | $316,497 (76.7%) | 0.00 | 24 |
2021-12-01 | $224,725 (38.4%) | $302,623 (75.0%) | 0.00 | 28 |
2022-01-01 | $209,950 (18.3%) | $283,812 (59.4%) | 0.00 | 26 |
2022-02-01 | $215,213 (9.2%) | $283,966 (46.9%) | 0.00 | 27 |
2022-03-01 | $222,000 (18.0%) | $263,432 (32.9%) | 0.00 | 32 |
2022-04-01 | $219,950 (29.4%) | $236,058 (28.4%) | 0.00 | 36 |
2022-05-01 | $197,475 (14.8%) | $225,838 (6.8%) | 0.00 | 41 |
2022-06-01 | $210,738 (20.4%) | $232,525 (6.5%) | 0.00 | 37 |
2022-07-01 | $220,000 (21.6%) | $250,671 (-6.6%) | 0.00 | 44 |
2022-08-01 | $235,000 (15.1%) | $266,702 (5.0%) | 0.00 | 44 |
2022-09-01 | $238,713 (23.5%) | $294,183 (10.0%) | 0.00 | 46 |
2022-10-01 | $237,500 (13.1%) | $306,001 (2.9%) | 0.00 | 46 |
2022-11-01 | $241,250 (11.0%) | $308,360 (-2.6%) | 0.00 | 46 |
2022-12-01 | $257,000 (14.4%) | $322,299 (6.5%) | 0.00 | 45 |
2023-01-01 | $254,250 (21.1%) | $332,092 (17.0%) | 0.00 | 43 |
2023-02-01 | $263,188 (22.3%) | $337,363 (18.8%) | 0.00 | 45 |
Hereford's median listing price comes in at 0% of the national average.
Hereford's average listing price for 2023-02-01 was $337,363, a difference of $53,397 (18.8%) versus the prior year and $5,271 versus the prior month.
For the 2023-02-01 period, Hereford had 45 MLS listings, a difference of 2 listings (5%) versus the prior month and 18 listings (67%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hereford (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,189 sqft |
2018-02-01 | 0 days | 2,076 sqft |
2018-03-01 | 0 days | 2,163 sqft |
2018-04-01 | 0 days | 2,295 sqft |
2018-05-01 | 0 days | 2,379 sqft |
2018-06-01 | 0 days | 2,386 sqft |
2018-07-01 | 0 days | 2,315 sqft |
2018-08-01 | 0 days | 2,543 sqft |
2018-09-01 | 0 days | 2,564 sqft |
2018-10-01 | 0 days | 2,468 sqft |
2018-11-01 | 0 days | 2,321 sqft |
2018-12-01 | 0 days | 2,304 sqft |
2019-01-01 | 0 days | 2,261 sqft |
2019-02-01 | 0 days | 2,213 sqft |
2019-03-01 | 0 days | 2,251 sqft |
2019-04-01 | 0 days | 2,150 sqft |
2019-05-01 | 0 days | 2,076 sqft |
2019-06-01 | 0 days | 2,045 sqft |
2019-07-01 | 0 days | 2,141 sqft |
2019-08-01 | 0 days | 2,138 sqft |
2019-09-01 | 0 days | 2,108 sqft |
2019-10-01 | 0 days | 2,075 sqft |
2019-11-01 | 0 days | 2,182 sqft |
2019-12-01 | 0 days | 2,281 sqft |
2020-01-01 | 0 days | 2,340 sqft |
2020-02-01 | 0 days | 2,431 sqft |
2020-03-01 | 0 days | 2,302 sqft |
2020-04-01 | 0 days | 2,380 sqft |
2020-05-01 | 0 days | 2,193 sqft |
2020-06-01 | 0 days | 2,193 sqft |
2020-07-01 | 0 days | 2,041 sqft |
2020-08-01 | 0 days | 1,846 sqft |
2020-09-01 | 0 days | 1,892 sqft |
2020-10-01 | 0 days | 2,031 sqft |
2020-11-01 | 0 days | 1,797 sqft |
2020-12-01 | 0 days | 1,758 sqft |
2021-01-01 | 0 days | 1,754 sqft |
2021-02-01 | 0 days | 1,826 sqft |
2021-03-01 | 0 days | 1,787 sqft |
2021-04-01 | 0 days | 1,566 sqft |
2021-05-01 | 0 days | 1,488 sqft |
2021-06-01 | 0 days | 1,646 sqft |
2021-07-01 | 0 days | 1,831 sqft |
2021-08-01 | 0 days | 1,819 sqft |
2021-09-01 | 0 days | 1,900 sqft |
2021-10-01 | 0 days | 1,766 sqft |
2021-11-01 | 0 days | 1,920 sqft |
2021-12-01 | 0 days | 1,798 sqft |
2022-01-01 | 0 days | 1,656 sqft |
2022-02-01 | 0 days | 1,718 sqft |
2022-03-01 | 0 days | 1,789 sqft |
2022-04-01 | 0 days | 1,634 sqft |
2022-05-01 | 0 days | 1,600 sqft |
2022-06-01 | 0 days | 1,642 sqft |
2022-07-01 | 0 days | 1,657 sqft |
2022-08-01 | 0 days | 1,736 sqft |
2022-09-01 | 0 days | 1,780 sqft |
2022-10-01 | 0 days | 1,800 sqft |
2022-11-01 | 0 days | 1,912 sqft |
2022-12-01 | 0 days | 1,930 sqft |
2023-01-01 | 0 days | 1,919 sqft |
2023-02-01 | 0 days | 1,828 sqft |
Hereford's median square footage for active listings during the 2023-02-01 period was 1,828 sqft. One year prior, the average listing was 1,718 sqft.
Hereford, TX Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 221 | $35,085,000 | $158,756 |
Refi | 54 | $6,560,000 | $121,481 |
Cash Out Refi | 19 | $2,175,000 | $114,474 |
Home Improvement | 11 | $725,000 | $65,909 |
Other | 1 | $195,000 | $195,000 |
Hereford's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 54 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 119 | $19,865,000 | $166,933 |
2.5-3% | 61 | $9,355,000 | $153,361 |
<2.5% | 41 | $4,535,000 | $110,610 |
4-5% | 23 | $4,375,000 | $190,217 |
Over 8% | 8 | $650,000 | $81,250 |
6-7% | 8 | $1,340,000 | $167,500 |
5-6% | 6 | $890,000 | $148,333 |
7-8% | 3 | $175,000 | $58,333 |
During 2021, Hereford's most frequently originated rate bucket was 3-4%, with 119 originations.
Loan Sizing (Hereford, TX MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 165 | $25,235,000 | $152,939 |
$100,000 or less | 88 | $5,110,000 | $58,068 |
$200k-400k | 51 | $12,585,000 | $246,765 |
$400k-600k | 1 | $445,000 | $445,000 |
$Over $1MM | 1 | $1,365,000 | $1,365,000 |
Hereford's loan sizing saw the bucket of loans from $100k-200k with 165 originations, totaling $25,235,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 175 | $31,115,000 | $177,800 |
60-80% | 39 | $5,275,000 | $135,256 |
40-60% | 22 | $2,580,000 | $117,273 |
Under 20% | 16 | $230,000 | $14,375 |
20-40% | 6 | $420,000 | $70,000 |
Over 100% | 3 | $425,000 | $141,667 |
Hereford's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 175 originations, totaling $31,115,000 in origination value.