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 7.29% for the week of 2025-06-18, compared to the national average of 6.81% for the same period.

The average rate for the prior week (2025-06-12) was 7.42% and one month ago for the week of 2025-05-15, the average rate was 7.29%.

Hobbs's average rate one year ago was 7.63%.

For refis of the same type during the week of 2025-06-18, the average rate was 7.21%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-06-18 6.81%
Hobbs 30 Year Fixed Rate 2025-06-18 7.29%
Hobbs 30 Year Fixed Rate Refi 2025-06-18 7.21%
Hobbs 15 Year Fixed Rate 2025-06-18 5.96%
Hobbs 15 Year Fixed Rate Refi 2025-06-18 5.86%
Hobbs 30 Year FHA 2025-06-18 0.24%
Hobbs 30 Year FHA Refi 2025-06-18 -0.2%
Hobbs 30 Year USDA 2025-06-18 0.2%
Hobbs 30 Year USDA Refi 2025-06-18 0%
Hobbs 30 Year VA 2025-06-18 0%
Hobbs 30 Year VA Refi 2025-06-18 0.2%
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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
QUICKEN LOANS, LLC 22 6.92% $7,040
Paramount Residential Mortgage Group, Inc. 20 7.02% $6,042
21ST MORTGAGE CORPORATION 20 8.74% $6,732
JPMorgan Chase Bank 18 6.77% $4,730
CROSSCOUNTRY MORTGAGE, LLC 17 6.87% $7,988
GENEVA FINANCIAL, LLC 15 6.78% $6,710
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 7.18% $6,606
Wells Fargo Bank 5 6.73% $4,178
SOUTHWEST FUNDING, LP 4 7.19% $7,052
DIRECTORS MORTGAGE, INC. 4 6.91% $9,833
GUILD MORTGAGE COMPANY 3 6.50% $5,478
MICHIGAN MUTUAL, INC. 2 7.25% $7,159
First National Bank of America 2 9.25% $7,788
GUARANTEED RATE AFFINITY, LLC 2 6.69% $1,836
HOMESIDE FINANCIAL, LLC 2 6.81% $8,061
ZILLOW HOME LOANS, LLC 2 6.75% $3,911
CMG MORTGAGE, INC. 1 7.25% $10,439
Washington Federal Bank 1 7.00% $4,436
Carrington Mortgage Services, LLC 1 7.12% $16,501
Ally Bank 1 6.25% $6,880
BROKER SOLUTIONS, INC. 1 7.13% $8,648
LENDSURE MORTGAGE CORP. 1 9.00% $9,660
Loan Simple, Inc. 1 7.13% $11,989
BOKF 1 7.38% $4,620
MOUNTAIN AMERICA 1 7.63% $4,941
MOVEMENT MORTGAGE, LLC 1 7.94% $4,991
Mr. Cooper ( Nationstar Mortgage ) 1 6.99% $7,570
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.88% $6,971
MYCUMORTGAGE, LLC 1 6.50% $4,305
NBKC BANK 1 5.63% $13,642
NUSENDA 1 6.38% $4,102
BETTER MORTGAGE CORPORATION 1 6.38% $10,217
Performance Financial, Inc. 1 7.00% $10,091
PHH Mortgage Corporation 1 6.63% $7,011
Bank of America 1 5.13% $8,801
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 9.00% $5,134
Sierra Pacific Mortgage Company, Inc. 1 7.25% $4,015
AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $3,063
SWBC MORTGAGE CORPORATION 1 5.88% $6,320
TEXAS TECH 1 7.13% $5,535
THE MORTGAGE LINK, INC. 1 6.63% $9,838
UNITED WHOLESALE MORTGAGE, LLC 1 8.00% $4,539
USAA Federal Savings Bank 1 6.88% $4,252
Discover Bank 1 7.86% $0
First American Bank 1 6.50% $3,628
U.S. Bank 1 7.75% $4,462
FREEDOM MORTGAGE CORPORATION 1 7.88% $7,245

Hobbs Average Closing Costs & Other Stats

Hobbs, NM's 47 lenders originated 783 loans during 2024. The total origination value was $159,405,000, with an average loan value of $203,582.

Hobbs's average closing costs are $6,776.

The top Hobbs lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 loans originated. Their average total fees are $7,040, which is $998 higher than the next largest lender, Paramount Residential Mortgage Group, Inc..

The lowest fee Hobbs lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,730), Paramount Residential Mortgage Group, Inc. ($6,042), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,606), GENEVA FINANCIAL, LLC ($6,710) and 21ST MORTGAGE CORPORATION ($6,732).

The lowest rate Hobbs lenders (with over 10 loans originated) are JPMorgan Chase Bank (6.77%), GENEVA FINANCIAL, LLC (6.78%), CROSSCOUNTRY MORTGAGE, LLC (6.87%), QUICKEN LOANS, LLC (6.92%) and Paramount Residential Mortgage Group, Inc. (7.02%).

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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
Paramount Residential Mortgage Group, Inc. $27,500,000 $29,560,000 7.5% 18.5%
GENEVA FINANCIAL, LLC $17,690,000 $17,305,000 -2.2% 10.9%
CROSSCOUNTRY MORTGAGE, LLC $13,225,000 $12,970,000 -1.9% 8.1%
21ST MORTGAGE CORPORATION $7,120,000 $10,530,000 47.9% 6.6%
QUICKEN LOANS, LLC $8,450,000 $9,325,000 10.4% 5.8%
PRIMELENDING, A PLAINSCAPITAL COMPANY $630,000 $8,805,000 1,297.6% 5.5%
Arbor Realty Trust, Inc. $7,245,000 n/a 4.5%
First American Bank $6,495,000 $5,050,000 -22.2% 3.2%
SOUTHWEST FUNDING, LP $3,935,000 n/a 2.5%
DIRECTORS MORTGAGE, INC. $3,195,000 $3,470,000 8.6% 2.2%
JPMorgan Chase Bank $1,200,000 $3,420,000 185.0% 2.1%
PENNYMAC LOAN SERVICES, LLC $1,885,000 $3,145,000 66.8% 2.0%
Western Commerce Bank $2,765,000 $2,785,000 0.7% 1.7%
UNITED WHOLESALE MORTGAGE, LLC $775,000 $2,610,000 236.8% 1.6%
Mortgage Research Center, LLC $2,335,000 $2,525,000 8.1% 1.6%
FREEDOM MORTGAGE CORPORATION $145,000 $2,500,000 1,624.1% 1.6%
VILLAGE CAPITAL MORTGAGE $420,000 $1,440,000 242.9% 0.9%
Wells Fargo Bank $1,920,000 $1,365,000 -28.9% 0.9%
Equity Prime Mortgage LLC $1,350,000 n/a 0.8%
GUILD MORTGAGE COMPANY $510,000 $1,290,000 152.9% 0.8%
NEWREZ LLC $655,000 $915,000 39.7% 0.6%
AMERISAVE MORTGAGE CORPORATION $725,000 $910,000 25.5% 0.6%
Bank of America $430,000 $820,000 90.7% 0.5%
Waterstone Mortgage Corporation $815,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $145,000 $770,000 431.0% 0.5%
CMG MORTGAGE, INC. $1,285,000 $680,000 -47.1% 0.4%
Loan Simple, Inc. $265,000 $670,000 152.8% 0.4%
MORTGAGE SOLUTIONS OF COLORADO, LLC $640,000 $660,000 3.1% 0.4%
AmeriHome Mortgage Company, LLC $610,000 n/a 0.4%
HOMESIDE FINANCIAL, LLC $605,000 n/a 0.4%
GUARANTEED RATE AFFINITY, LLC $560,000 $590,000 5.4% 0.4%
BROKER SOLUTIONS, INC. $1,025,000 $530,000 -48.3% 0.3%
Sunflower Bank $490,000 $530,000 8.2% 0.3%
Carrington Mortgage Services, LLC $305,000 $505,000 65.6% 0.3%
TEXAS TECH $480,000 n/a 0.3%
BOKF $15,000 $460,000 2,966.7% 0.3%
SECURITYNATIONAL MORTGAGE COMPANY $445,000 n/a 0.3%
PLANET HOME LENDING, LLC $425,000 n/a 0.3%
SOUTHWEST STAGE FUNDING, LLC $270,000 $420,000 55.6% 0.3%
U.S. Bank $355,000 $415,000 16.9% 0.3%
PRIMARY RESIDENTIAL MORTGAGE, INC. $405,000 n/a 0.3%
AMERICAN FINANCIAL RESOURCES, INC. $630,000 $395,000 -37.3% 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $390,000 n/a 0.2%
ZILLOW HOME LOANS, LLC $250,000 $370,000 48.0% 0.2%
MICHIGAN MUTUAL, INC. $340,000 n/a 0.2%
ANGEL OAK MORTGAGE SOLUTIONS LLC $335,000 n/a 0.2%
Plains Commerce Bank $235,000 $335,000 42.6% 0.2%
Prosperity Bank $335,000 n/a 0.2%
PlainsCapital Bank $325,000 n/a 0.2%
Barrington Bank & Trust Company, N.A. $315,000 n/a 0.2%
ROYAL UNITED MORTGAGE LLC $335,000 $315,000 -6.0% 0.2%
OCMBC, INC. $305,000 n/a 0.2%
Flagstar Bank, FSB $265,000 $300,000 13.2% 0.2%
MID AMERICA MORTGAGE, INC. $295,000 n/a 0.2%
TRIAD FINANCIAL SERVICES, INC. $295,000 n/a 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $230,000 $280,000 21.7% 0.2%
BETTER MORTGAGE CORPORATION $275,000 n/a 0.2%
SWBC MORTGAGE CORPORATION $275,000 n/a 0.2%
NBKC BANK $265,000 n/a 0.2%
COUNTRYPLACE MORTGAGE, LTD. $280,000 $260,000 -7.1% 0.2%
First National Bank Texas $335,000 $260,000 -22.4% 0.2%
MOVEMENT MORTGAGE, LLC $255,000 n/a 0.2%
USAA Federal Savings Bank $255,000 n/a 0.2%
UNION HOME MORTGAGE CORP. $245,000 n/a 0.2%
First National Bank of America $530,000 $240,000 -54.7% 0.2%
LENDSURE MORTGAGE CORP. $415,000 $235,000 -43.4% 0.1%
MORTGAGE ACCESS CORP. $235,000 n/a 0.1%
AMERICAN FINANCIAL NETWORK, INC. $225,000 n/a 0.1%
Performance Financial, Inc. $215,000 n/a 0.1%
NAVY FEDERAL CREDIT UNION $640,000 $210,000 -67.2% 0.1%
THE MORTGAGE LINK, INC. $205,000 n/a 0.1%
SUN WEST MORTGAGE COMPANY, INC. $145,000 $185,000 27.6% 0.1%
Washington Federal Bank $185,000 n/a 0.1%
AMWEST FUNDING CORP. $180,000 n/a 0.1%
Coastal Community Bank $300,000 $180,000 -40.0% 0.1%
MOUNTAIN AMERICA $180,000 n/a 0.1%
NUSENDA $180,000 n/a 0.1%
Prosperity Home Mortgage, LLC $285,000 $175,000 -38.6% 0.1%
Citadel Servicing Corporation $450,000 $165,000 -63.3% 0.1%
Kirtland Federal Credit Union $165,000 n/a 0.1%
CORNERSTONE HOME LENDING, INC. $155,000 n/a 0.1%
UNIFY FINANCIAL Credit Union $155,000 n/a 0.1%
Bell Bank $145,000 n/a 0.1%
LOANPAL, LLC $280,000 $145,000 -48.2% 0.1%
Discover Bank $250,000 $125,000 -50.0% 0.1%
PHH Mortgage Corporation $125,000 n/a 0.1%
Figure Lending LLC $40,000 $115,000 187.5% 0.1%
Sierra Pacific Mortgage Company, Inc. $290,000 $115,000 -60.3% 0.1%
MYCUMORTGAGE, LLC $110,000 n/a 0.1%
SPRING EQ, LLC $110,000 n/a 0.1%
Ally Bank $95,000 n/a 0.1%
LOANDEPOT.COM, LLC $695,000 $95,000 -86.3% 0.1%
LIMA ONE CAPITAL, LLC $75,000 $85,000 13.3% 0.1%
S1L, Inc. $85,000 n/a 0.1%
The Loan Store, Inc. $85,000 n/a 0.1%
AMERICAN FIRST $55,000 n/a 0.0%
PENTAGON FEDERAL CREDIT UNION $175,000 $55,000 -68.6% 0.0%

Hobbs's top lender by overall market share is Paramount Residential Mortgage Group, Inc., with 18.5% market share. In second place, with 10.9%, is GENEVA FINANCIAL, LLC, having originated $17,305,000 in loans. In third place, with 8.1%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $12,970,000 in loans. In fourth place, with 6.6%, is 21ST MORTGAGE CORPORATION, having originated $10,530,000 in loans. In fifth place, with 5.8%, is QUICKEN LOANS, LLC, having originated $9,325,000 in loans.

Hobbs, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 616 $120,350,000 $195,373
Refi 69 $27,475,000 $398,188
Cash Out Refi 57 $8,185,000 $143,596
Other 26 $2,360,000 $90,769
Home Improvement 15 $1,035,000 $69,000

Hobbs's most frequently cited loan purpose was Home Purchase, with 616 originations. The 2nd most popular reason was Refi, with 69 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 304 $68,070,000 $223,914
7-8% 186 $40,130,000 $215,753
Over 8% 163 $18,415,000 $112,975
5-6% 87 $28,125,000 $323,276
<2.5% 22 $330,000 $15,000
4-5% 5 $1,225,000 $245,000

During 2024, Hobbs's most frequently originated rate bucket was 6-7%, with 304 originations.

Loan Sizing (Hobbs, NM MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 315 $88,685,000 $281,540
$100k-200k 260 $39,200,000 $150,769
$100,000 or less 177 $7,435,000 $42,006
$400k-600k 25 $11,415,000 $456,600
$600k-1000k 3 $2,225,000 $741,667
$Over $1MM 3 $10,445,000 $3,481,667

Hobbs's loan sizing saw the bucket of loans from $200k-400k with 315 originations, totaling $88,685,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 508 $115,980,000 $228,307
Under 20% 90 $1,280,000 $14,222
60-80% 70 $15,820,000 $226,000
40-60% 36 $12,770,000 $354,722
20-40% 35 $2,675,000 $76,429
Over 100% 11 $2,665,000 $242,273

Hobbs's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 508 originations, totaling $115,980,000 in origination value.