Hobbs Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Hobbs averaged 7.37% for the week of 2024-05-16, compared to the national average of 7.02% for the same period.

The average rate for the prior week (2024-05-09) was 7.34% and one month ago for the week of 2024-04-11, the average rate was 7.43%.

Hobbs's average rate one year ago was 6.9%.

For refis of the same type during the week of 2024-05-16, the average rate was 7.52%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-16 7.02%
Hobbs 30 Year Fixed Rate 2024-05-16 7.37%
Hobbs 30 Year Fixed Rate Refi 2024-05-16 7.52%
Hobbs 15 Year Fixed Rate 2024-05-16 6.38%
Hobbs 15 Year Fixed Rate Refi 2024-05-16 6.58%
Hobbs 30 Year FHA 2024-05-16 6.78%
Hobbs 30 Year FHA Refi 2024-05-16 6.54%
Hobbs 30 Year USDA 2024-05-16 6.55%
Hobbs 30 Year USDA Refi 2024-05-16 6.85%
Hobbs 30 Year VA 2024-05-16 6.7%
Hobbs 30 Year VA Refi 2024-05-16 6.4%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Hobbs, NM.

Hobbs 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 Hobbs, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Neighborhood Loans, Inc. 21 7.19% $6,185
Paramount Residential Mortgage Group, Inc. 17 7.21% $6,432
QUICKEN LOANS, LLC 17 6.76% $6,167
CROSSCOUNTRY MORTGAGE, LLC 13 6.88% $7,544
GENEVA FINANCIAL, LLC 11 7.25% $9,534
First American Bank 10 6.79% $3,856
Wells Fargo Bank 7 6.68% $6,932
21ST MORTGAGE CORPORATION 7 9.53% $6,735
DIRECTORS MORTGAGE, INC. 5 6.75% $8,665
CMG MORTGAGE, INC. 3 5.83% $6,867
JPMorgan Chase Bank 3 7.13% $6,858
ZILLOW HOME LOANS, LLC 2 7.94% $4,385
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.44% $6,143
First National Bank of America 2 11.44% $13,070
GUARANTEED RATE AFFINITY, LLC 2 7.21% $256
NAVY FEDERAL CREDIT UNION 2 5.19% $1,765
UNITED WHOLESALE MORTGAGE, LLC 2 5.74% $10,164
Farmers Bank & Trust 1 6.63% $4,843
Grand Bank for Savings, FSB 1 10.50% $6,130
U.S. Bank 1 5.50% $10,178
GUARANTEED RATE, INC. 1 6.63% $3,762
GUILD MORTGAGE COMPANY 1 7.13% $8,802
DEEPHAVEN MORTGAGE LLC 1 9.75% $11,199
LENDSURE MORTGAGE CORP. 1 9.25% $18,066
Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $8,435
NATIONS RELIABLE LENDING, LLC 1 7.13% $5,939
ASSEMBLIES OF GOD Credit Union 1 6.12% $4,652
CARDINAL FINANCIAL 1 6.88% $7,394
BROKER SOLUTIONS, INC. 1 6.74% $8,398
PENNYMAC LOAN SERVICES, LLC 1 6.12% $4,652
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.13% $11,908
Bank of America 1 7.38% $6,343
ROYAL UNITED MORTGAGE LLC 1 7.50% $6,516
Sierra Pacific Mortgage Company, Inc. 1 6.75% $4,000
Southwest Bank 1 7.99% $5,386
AMERISAVE MORTGAGE CORPORATION 1 5.88% $14,364
Flagstar Bank, FSB 1 7.50% $8,458
FREEDOM MORTGAGE CORPORATION 1 6.49% $4,728
Gateway First Bank 1 6.50% $3,254

Hobbs Average Closing Costs & Other Stats

Hobbs, NM's 39 lenders originated 716 loans during 2023. The total origination value was $140,750,000, with an average loan value of $196,578.

Hobbs's average closing costs are $6,517.

The top Hobbs lender as defined by loan originations is Neighborhood Loans, Inc., with 21 loans originated. Their average total fees are $6,185, which is $247 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

The lowest fee Hobbs lenders (with over 10 loans originated) are First American Bank ($3,856), QUICKEN LOANS, LLC ($6,167), Neighborhood Loans, Inc. ($6,185), Paramount Residential Mortgage Group, Inc. ($6,432) and CROSSCOUNTRY MORTGAGE, LLC ($7,544).

The lowest rate Hobbs lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.76%), First American Bank (6.79%), CROSSCOUNTRY MORTGAGE, LLC (6.88%), Neighborhood Loans, Inc. (7.19%) and Paramount Residential Mortgage Group, Inc. (7.21%).

Hobbs, 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
Paramount Residential Mortgage Group, Inc. $39,770,000 $27,500,000 -30.9% 19.5%
Neighborhood Loans, Inc. $13,970,000 $17,825,000 27.6% 12.7%
GENEVA FINANCIAL, LLC $14,950,000 $17,690,000 18.3% 12.6%
CROSSCOUNTRY MORTGAGE, LLC $10,600,000 $13,225,000 24.8% 9.4%
QUICKEN LOANS, LLC $13,240,000 $8,450,000 -36.2% 6.0%
21ST MORTGAGE CORPORATION $7,815,000 $7,120,000 -8.9% 5.1%
First American Bank $10,980,000 $6,495,000 -40.8% 4.6%
ACADEMY MORTGAGE CORPORATION $3,490,000 $3,455,000 -1.0% 2.5%
DIRECTORS MORTGAGE, INC. $3,195,000 n/a 2.3%
Western Commerce Bank $2,865,000 $2,765,000 -3.5% 2.0%
Mortgage Research Center, LLC $4,895,000 $2,335,000 -52.3% 1.7%
Wells Fargo Bank $3,260,000 $1,920,000 -41.1% 1.4%
PENNYMAC LOAN SERVICES, LLC $2,750,000 $1,885,000 -31.5% 1.3%
CMG MORTGAGE, INC. $415,000 $1,285,000 209.6% 0.9%
JPMorgan Chase Bank $945,000 $1,200,000 27.0% 0.9%
BROKER SOLUTIONS, INC. $1,255,000 $1,025,000 -18.3% 0.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $850,000 n/a 0.6%
CARDINAL FINANCIAL $430,000 $835,000 94.2% 0.6%
UNITED WHOLESALE MORTGAGE, LLC $1,525,000 $775,000 -49.2% 0.6%
AMERISAVE MORTGAGE CORPORATION $1,645,000 $725,000 -55.9% 0.5%
LOANDEPOT.COM, LLC $2,270,000 $695,000 -69.4% 0.5%
NEWREZ LLC $2,230,000 $655,000 -70.6% 0.5%
MORTGAGE SOLUTIONS OF COLORADO, LLC $640,000 n/a 0.5%
NAVY FEDERAL CREDIT UNION $1,995,000 $640,000 -67.9% 0.5%
AMERICAN FINANCIAL RESOURCES, INC. $700,000 $630,000 -10.0% 0.4%
PRIMELENDING, A PLAINSCAPITAL COMPANY $255,000 $630,000 147.1% 0.4%
GUARANTEED RATE AFFINITY, LLC $560,000 n/a 0.4%
First National Bank of America $530,000 n/a 0.4%
Pioneer Bank $195,000 $525,000 169.2% 0.4%
GUILD MORTGAGE COMPANY $510,000 n/a 0.4%
AMCAP MORTGAGE, LTD. $790,000 $490,000 -38.0% 0.3%
Sunflower Bank $915,000 $490,000 -46.4% 0.3%
Citadel Servicing Corporation $450,000 n/a 0.3%
The Jacksboro National Bank $690,000 $435,000 -37.0% 0.3%
Bank of America $255,000 $430,000 68.6% 0.3%
VILLAGE CAPITAL MORTGAGE $440,000 $420,000 -4.5% 0.3%
LENDSURE MORTGAGE CORP. $415,000 n/a 0.3%
DEEPHAVEN MORTGAGE LLC $275,000 $400,000 45.5% 0.3%
Farmers Bank & Trust $395,000 n/a 0.3%
Southwest Bank $365,000 n/a 0.3%
U.S. Bank $315,000 $355,000 12.7% 0.3%
First National Bank Texas $1,090,000 $335,000 -69.3% 0.2%
ROYAL UNITED MORTGAGE LLC $115,000 $335,000 191.3% 0.2%
Carrington Mortgage Services, LLC $220,000 $305,000 38.6% 0.2%
GUARANTEED RATE, INC. $665,000 $305,000 -54.1% 0.2%
Coastal Community Bank $300,000 n/a 0.2%
AMERICAN HERITAGE LENDING, INC. $295,000 n/a 0.2%
Sierra Pacific Mortgage Company, Inc. $290,000 n/a 0.2%
Prosperity Home Mortgage, LLC $930,000 $285,000 -69.4% 0.2%
COUNTRYPLACE MORTGAGE, LTD. $385,000 $280,000 -27.3% 0.2%
LOANPAL, LLC $1,455,000 $280,000 -80.8% 0.2%
Commerce Home Mortgage, Inc. $270,000 n/a 0.2%
SOUTHWEST STAGE FUNDING, LLC $670,000 $270,000 -59.7% 0.2%
ASSEMBLIES OF GOD Credit Union $265,000 n/a 0.2%
Flagstar Bank, FSB $300,000 $265,000 -11.7% 0.2%
Loan Simple, Inc. $305,000 $265,000 -13.1% 0.2%
Discover Bank $85,000 $250,000 194.1% 0.2%
ZILLOW HOME LOANS, LLC $250,000 n/a 0.2%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $400,000 $245,000 -38.8% 0.2%
KeyBank $1,400,000 $245,000 -82.5% 0.2%
CALCON MUTUAL MORTGAGE LLC $240,000 n/a 0.2%
Plains Commerce Bank $235,000 n/a 0.2%
POLARIS HOME FUNDING CORP. $235,000 n/a 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $230,000 n/a 0.2%
OCEANSIDE MORTGAGE COMPANY $215,000 n/a 0.2%
Gateway First Bank $405,000 $205,000 -49.4% 0.1%
NEW DAY FINANCIAL, LLC $165,000 $195,000 18.2% 0.1%
Bank of England $360,000 $175,000 -51.4% 0.1%
CREDIT HUMAN FEDERAL CREDIT UNION $175,000 n/a 0.1%
First Financial Bank $245,000 $175,000 -28.6% 0.1%
PENTAGON FEDERAL CREDIT UNION $175,000 n/a 0.1%
SANDIA AREA $175,000 n/a 0.1%
Grand Bank for Savings, FSB $155,000 n/a 0.1%
NATIONS RELIABLE LENDING, LLC $620,000 $155,000 -75.0% 0.1%
FREEDOM MORTGAGE CORPORATION $2,505,000 $145,000 -94.2% 0.1%
Mr. Cooper ( Nationstar Mortgage ) $2,375,000 $145,000 -93.9% 0.1%
SUN WEST MORTGAGE COMPANY, INC. $145,000 n/a 0.1%
Citibank $140,000 n/a 0.1%
PLAZA HOME MORTGAGE, INC. $125,000 n/a 0.1%
LAKEVIEW LOAN SERVICING, LLC $1,855,000 $115,000 -93.8% 0.1%
City Bank $195,000 $105,000 -46.2% 0.1%
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $105,000 n/a 0.1%
Centennial Bank $95,000 n/a 0.1%
LIMA ONE CAPITAL, LLC $3,190,000 $75,000 -97.6% 0.1%
Zions Bank $65,000 n/a 0.0%
Bethpage Federal Credit Union $55,000 n/a 0.0%
CHERRY CREEK MORTGAGE, LLC $55,000 n/a 0.0%
Figure Lending LLC $40,000 n/a 0.0%
ASHLAND Credit Union $35,000 n/a 0.0%
BOKF $645,000 $15,000 -97.7% 0.0%

Hobbs's top lender by overall market share is Paramount Residential Mortgage Group, Inc., with 19.5% market share. In second place, with 12.7%, is Neighborhood Loans, Inc., having originated $17,825,000 in loans. In third place, with 12.6%, is GENEVA FINANCIAL, LLC, having originated $17,690,000 in loans. In fourth place, with 9.4%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $13,225,000 in loans. In fifth place, with 6.0%, is QUICKEN LOANS, LLC, having originated $8,450,000 in loans.


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

Realtor.com - Hobbs (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 $164,750 (-8.3%) $188,375 (-4.7%) 0.00 224
2018-02-01 $162,600 (-8.4%) $185,991 (-3.4%) 0.00 219
2018-03-01 $161,500 (-4.9%) $189,480 (-1.0%) 0.00 192
2018-04-01 $164,000 (-6.3%) $190,837 (-1.6%) 0.00 167
2018-05-01 $177,000 (0.9%) $201,656 (2.5%) 0.00 161
2018-06-01 $177,000 (3.4%) $209,071 (5.9%) 0.00 154
2018-07-01 $174,125 (-0.5%) $212,417 (4.5%) 0.00 138
2018-08-01 $180,350 (0.6%) $215,113 (4.8%) 0.00 141
2018-09-01 $176,000 (-0.1%) $206,877 (1.0%) 0.00 134
2018-10-01 $175,300 (-0.8%) $203,710 (1.6%) 0.00 124
2018-11-01 $179,450 (2.3%) $212,744 (7.0%) 0.00 122
2018-12-01 $189,000 (7.4%) $223,162 (13.3%) 0.00 106
2019-01-01 $193,250 (17.3%) $235,483 (25.0%) 0.00 81
2019-02-01 $192,000 (18.1%) $234,151 (25.9%) 0.00 83
2019-03-01 $186,823 (15.7%) $228,805 (20.8%) 0.00 77
2019-04-01 $186,548 (13.8%) $221,950 (16.3%) 0.00 81
2019-05-01 $185,710 (4.9%) $222,428 (10.3%) 0.00 87
2019-06-01 $195,000 (10.2%) $219,633 (5.1%) 0.00 101
2019-07-01 $177,000 (1.7%) $204,840 (-3.6%) 0.00 114
2019-08-01 $177,818 (-1.4%) $218,023 (1.4%) 0.00 115
2019-09-01 $179,045 (1.7%) $235,224 (13.7%) 0.00 117
2019-10-01 $179,864 (2.6%) $234,782 (15.3%) 0.00 120
2019-11-01 $183,000 (2.0%) $226,029 (6.2%) 0.00 136
2019-12-01 $176,500 (-6.6%) $219,047 (-1.8%) 0.00 127
2020-01-01 $181,730 (-6.0%) $224,190 (-4.8%) 0.00 112
2020-02-01 $185,600 (-3.3%) $215,599 (-7.9%) 0.00 116
2020-03-01 $193,200 (3.4%) $226,651 (-0.9%) 0.00 105
2020-04-01 $199,550 (7.0%) $226,106 (1.9%) 0.00 121
2020-05-01 $187,500 (1.0%) $226,413 (1.8%) 0.00 121
2020-06-01 $185,500 (-4.9%) $220,581 (0.4%) 0.00 121
2020-07-01 $192,700 (8.9%) $222,017 (8.4%) 0.00 108
2020-08-01 $196,000 (10.2%) $226,890 (4.1%) 0.00 104
2020-09-01 $199,600 (11.5%) $222,111 (-5.6%) 0.00 116
2020-10-01 $189,450 (5.3%) $219,930 (-6.3%) 0.00 112
2020-11-01 $185,500 (1.4%) $220,452 (-2.5%) 0.00 123
2020-12-01 $185,125 (4.9%) $221,294 (1.0%) 0.00 136
2021-01-01 $185,500 (2.1%) $224,958 (0.3%) 0.00 141
2021-02-01 $185,750 (0.1%) $227,835 (5.7%) 0.00 150
2021-03-01 $195,000 (0.9%) $228,098 (0.6%) 0.00 142
2021-04-01 $194,975 (-2.3%) $230,857 (2.1%) 0.00 129
2021-05-01 $195,000 (4.0%) $223,085 (-1.5%) 0.00 130
2021-06-01 $196,738 (6.1%) $230,497 (4.5%) 0.00 149
2021-07-01 $193,500 (0.4%) $221,639 (-0.2%) 0.00 149
2021-08-01 $191,500 (-2.3%) $225,155 (-0.8%) 0.00 153
2021-09-01 $189,750 (-4.9%) $225,144 (1.4%) 0.00 143
2021-10-01 $189,500 (0.0%) $217,115 (-1.3%) 0.00 145
2021-11-01 $189,500 (2.2%) $223,457 (1.4%) 0.00 147
2021-12-01 $189,375 (2.3%) $226,185 (2.2%) 0.00 134
2022-01-01 $195,000 (5.1%) $236,040 (4.9%) 0.00 123
2022-02-01 $209,078 (12.6%) $256,708 (12.7%) 0.00 118
2022-03-01 $223,250 (14.5%) $263,552 (15.5%) 0.00 108
2022-04-01 $212,500 (9.0%) $260,906 (13.0%) 0.00 102
2022-05-01 $198,475 (1.8%) $249,742 (12.0%) 0.00 92
2022-06-01 $209,725 (6.6%) $260,064 (12.8%) 0.00 89
2022-07-01 $206,156 (6.5%) $256,594 (15.8%) 0.00 108
2022-08-01 $218,750 (14.2%) $265,861 (18.1%) 0.00 111
2022-09-01 $208,750 (10.0%) $255,438 (13.5%) 0.00 109
2022-10-01 $215,000 (13.5%) $247,034 (13.8%) 0.00 107
2022-11-01 $222,450 (17.4%) $252,135 (12.8%) 0.00 123
2022-12-01 $224,900 (18.8%) $252,205 (11.5%) 0.00 118
2023-01-01 $247,500 (26.9%) $263,269 (11.5%) 0.00 113
2023-02-01 $237,500 (13.6%) $255,828 (-0.3%) 0.00 96
2023-03-01 $224,925 (0.8%) $256,941 (-2.5%) 0.00 90
2023-04-01 $220,000 (3.5%) $261,207 (0.1%) 0.00 81
2023-05-01 $227,500 (14.6%) $272,848 (9.3%) 0.00 71
2023-06-01 $210,578 (0.4%) $253,407 (-2.6%) 0.00 78
2023-07-01 $225,000 (9.1%) $255,958 (-0.3%) 0.00 82
2023-08-01 $228,500 (4.5%) $256,703 (-3.4%) 0.00 84
2023-09-01 $225,000 (7.8%) $247,570 (-3.1%) 0.00 81
2023-10-01 $225,000 (4.7%) $259,103 (4.9%) 0.00 88
2023-11-01 $215,000 (-3.4%) $255,049 (1.2%) 0.00 84
2023-12-01 $207,000 (-8.0%) $251,343 (-0.3%) 0.00 77
2024-01-01 $195,000 (-21.2%) $232,404 (-11.7%) 0.00 73
2024-02-01 $193,500 (-18.5%) $268,108 (4.8%) 0.00 72
2024-03-01 $196,750 (-12.5%) $268,981 (4.7%) 0.00 82
2024-04-01 $196,828 (-10.5%) $302,187 (15.7%) 0.00 73
Hobbs's median listing price for 2024-04-01 was $196,828, a difference of $-23,172 (-10.5%) versus the prior year and $78 versus the prior month.

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

Hobbs's average listing price for 2024-04-01 was $302,187, a difference of $40,980 (15.7%) versus the prior year and $33,206 versus the prior month.

For the 2024-04-01 period, Hobbs had 73 MLS listings, a difference of -9 listings (-11%) versus the prior month and -8 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hobbs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,667 sqft
2018-02-01 0 days 1,641 sqft
2018-03-01 0 days 1,634 sqft
2018-04-01 0 days 1,605 sqft
2018-05-01 0 days 1,676 sqft
2018-06-01 0 days 1,718 sqft
2018-07-01 0 days 1,730 sqft
2018-08-01 0 days 1,806 sqft
2018-09-01 0 days 1,872 sqft
2018-10-01 0 days 1,890 sqft
2018-11-01 0 days 1,892 sqft
2018-12-01 0 days 1,903 sqft
2019-01-01 0 days 1,924 sqft
2019-02-01 0 days 1,864 sqft
2019-03-01 0 days 1,809 sqft
2019-04-01 0 days 1,820 sqft
2019-05-01 0 days 1,811 sqft
2019-06-01 0 days 1,744 sqft
2019-07-01 0 days 1,620 sqft
2019-08-01 0 days 1,693 sqft
2019-09-01 0 days 1,754 sqft
2019-10-01 0 days 1,794 sqft
2019-11-01 0 days 1,765 sqft
2019-12-01 0 days 1,760 sqft
2020-01-01 0 days 1,730 sqft
2020-02-01 0 days 1,800 sqft
2020-03-01 0 days 1,825 sqft
2020-04-01 0 days 1,839 sqft
2020-05-01 0 days 1,763 sqft
2020-06-01 0 days 1,715 sqft
2020-07-01 0 days 1,801 sqft
2020-08-01 0 days 1,848 sqft
2020-09-01 0 days 1,828 sqft
2020-10-01 0 days 1,850 sqft
2020-11-01 0 days 1,760 sqft
2020-12-01 0 days 1,768 sqft
2021-01-01 0 days 1,782 sqft
2021-02-01 0 days 1,815 sqft
2021-03-01 0 days 1,840 sqft
2021-04-01 0 days 1,829 sqft
2021-05-01 0 days 1,806 sqft
2021-06-01 0 days 1,808 sqft
2021-07-01 0 days 1,817 sqft
2021-08-01 0 days 1,851 sqft
2021-09-01 0 days 1,800 sqft
2021-10-01 0 days 1,789 sqft
2021-11-01 0 days 1,742 sqft
2021-12-01 0 days 1,719 sqft
2022-01-01 0 days 1,766 sqft
2022-02-01 0 days 1,800 sqft
2022-03-01 0 days 1,827 sqft
2022-04-01 0 days 1,822 sqft
2022-05-01 0 days 1,783 sqft
2022-06-01 0 days 1,831 sqft
2022-07-01 0 days 1,839 sqft
2022-08-01 0 days 1,843 sqft
2022-09-01 0 days 1,809 sqft
2022-10-01 0 days 1,768 sqft
2022-11-01 0 days 1,789 sqft
2022-12-01 0 days 1,800 sqft
2023-01-01 0 days 1,840 sqft
2023-02-01 0 days 1,803 sqft
2023-03-01 0 days 1,813 sqft
2023-04-01 0 days 1,800 sqft
2023-05-01 0 days 1,868 sqft
2023-06-01 0 days 1,802 sqft
2023-07-01 0 days 1,860 sqft
2023-08-01 0 days 1,937 sqft
2023-09-01 0 days 1,893 sqft
2023-10-01 0 days 1,963 sqft
2023-11-01 0 days 1,921 sqft
2023-12-01 0 days 1,894 sqft
2024-01-01 0 days 1,726 sqft
2024-02-01 0 days 1,706 sqft
2024-03-01 0 days 1,751 sqft
2024-04-01 0 days 1,767 sqft
Hobbs's median listing age (time on market) for 2024-04-01 was 0 days.

Hobbs's median square footage for active listings during the 2024-04-01 period was 1,767 sqft. One year prior, the average listing was 1,800 sqft.

Hobbs, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 618 $128,120,000 $207,314
Cash Out Refi 54 $7,930,000 $146,852
Other 18 $1,430,000 $79,444
Refi 18 $2,900,000 $161,111
Home Improvement 8 $370,000 $46,250

Hobbs's most frequently cited loan purpose was Home Purchase, with 618 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 259 $59,365,000 $229,208
7-8% 181 $40,585,000 $224,227
Over 8% 141 $15,515,000 $110,035
5-6% 106 $21,180,000 $199,811
<2.5% 6 $30,000 $5,000
4-5% 5 $695,000 $139,000

During 2023, Hobbs's most frequently originated rate bucket was 6-7%, with 259 originations.

Loan Sizing (Hobbs, NM MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 294 $81,190,000 $276,156
$100k-200k 272 $40,770,000 $149,890
$100,000 or less 120 $4,740,000 $39,500
$400k-600k 30 $14,050,000 $468,333

Hobbs's loan sizing saw the bucket of loans from $200k-400k with 294 originations, totaling $81,190,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 506 $115,110,000 $227,490
60-80% 85 $15,985,000 $188,059
Under 20% 65 $865,000 $13,308
40-60% 19 $2,265,000 $119,211
20-40% 12 $780,000 $65,000
Over 100% 10 $2,060,000 $206,000

Hobbs's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 506 originations, totaling $115,110,000 in origination value.