Hobbs Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Hobbs averaged
6.73%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.65% and
one month ago for the week of 2023-04-20, the
average rate was 6.55%.
Hobbs's average rate one year ago was 5.51%.
For refis of the same type during the week of 2023-05-25, the average rate
was 6.67%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
Hobbs 30 Year Fixed Rate | 2023-05-25 | 6.73% |
Hobbs 30 Year Fixed Rate Refi | 2023-05-25 | 6.67% |
Hobbs 15 Year Fixed Rate | 2023-05-25 | 5.87% |
Hobbs 15 Year Fixed Rate Refi | 2023-05-25 | 6.37% |
Hobbs 30 Year FHA | 2023-05-25 | 6.17% |
Hobbs 30 Year FHA Refi | 2023-05-25 | 6.51% |
Hobbs 30 Year USDA | 2023-05-25 | 6.63% |
Hobbs 30 Year USDA Refi | 2023-05-25 | 6.83% |
Hobbs 30 Year VA | 2023-05-25 | 6.51% |
Hobbs 30 Year VA Refi | 2023-05-25 | 6.41% |
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.).
Hobbs Average Closing Costs & Other Stats
Hobbs, NM's 64 lenders originated 899
loans during 2022. The total origination value was $204,815,000, with an average loan value of
$227,825.
Hobbs's average closing costs are $6,185.
The top Hobbs lender as defined by loan originations is Paramount Residential Mortgage Group, Inc., with
30 loans originated. Their average total fees are
$4,353, which is $745
lower than the next largest lender,
Neighborhood Loans, Inc..
The lowest fee Hobbs lenders (with over 10 loans originated) are
Wells Fargo Bank ($4,336), Paramount Residential Mortgage Group, Inc. ($4,353), Neighborhood Loans, Inc. ($5,098), CROSSCOUNTRY MORTGAGE, LLC ($5,818) and GENEVA FINANCIAL, LLC ($6,294).
The lowest rate Hobbs lenders (with over 10 loans originated) are
Wells Fargo Bank (4.66%), QUICKEN LOANS, LLC (5.00%), Paramount Residential Mortgage Group, Inc. (5.03%), SOUTHWEST FUNDING, LP (5.26%) and GENEVA FINANCIAL, LLC (5.29%).
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
Paramount Residential Mortgage Group, Inc. | $37,475,000 | $39,770,000 | 6.1% | 19.4% |
GENEVA FINANCIAL, LLC | $16,405,000 | $14,950,000 | -8.9% | 7.3% |
SANDIA LABORATORY | $14,405,000 | n/a | 7.0% | |
Neighborhood Loans, Inc. | $22,875,000 | $13,970,000 | -38.9% | 6.8% |
QUICKEN LOANS, LLC | $36,055,000 | $13,240,000 | -63.3% | 6.5% |
First American Bank | $6,675,000 | $10,980,000 | 64.5% | 5.4% |
CROSSCOUNTRY MORTGAGE, LLC | $10,890,000 | $10,600,000 | -2.7% | 5.2% |
21ST MORTGAGE CORPORATION | $7,220,000 | $7,815,000 | 8.2% | 3.8% |
SOUTHWEST FUNDING, LP | $9,290,000 | $6,105,000 | -34.3% | 3.0% |
Mortgage Research Center, LLC | $2,610,000 | $4,895,000 | 87.5% | 2.4% |
GREYSTONE SERVICING COMPANY LLC | $3,845,000 | n/a | 1.9% | |
ACADEMY MORTGAGE CORPORATION | $3,600,000 | $3,490,000 | -3.1% | 1.7% |
Wells Fargo Bank | $5,075,000 | $3,260,000 | -35.8% | 1.6% |
LIMA ONE CAPITAL, LLC | $285,000 | $3,190,000 | 1,019.3% | 1.6% |
Western Commerce Bank | $2,360,000 | $2,865,000 | 21.4% | 1.4% |
PENNYMAC LOAN SERVICES, LLC | $3,390,000 | $2,750,000 | -18.9% | 1.3% |
FREEDOM MORTGAGE CORPORATION | $11,615,000 | $2,505,000 | -78.4% | 1.2% |
Mr. Cooper ( Nationstar Mortgage ) | $6,000,000 | $2,375,000 | -60.4% | 1.2% |
LOANDEPOT.COM, LLC | $8,030,000 | $2,270,000 | -71.7% | 1.1% |
NEWREZ LLC | $6,840,000 | $2,230,000 | -67.4% | 1.1% |
UNION HOME MORTGAGE CORP. | $3,285,000 | $2,050,000 | -37.6% | 1.0% |
NAVY FEDERAL CREDIT UNION | $1,755,000 | $1,995,000 | 13.7% | 1.0% |
LAKEVIEW LOAN SERVICING, LLC | $2,865,000 | $1,855,000 | -35.3% | 0.9% |
AMERISAVE MORTGAGE CORPORATION | $1,875,000 | $1,645,000 | -12.3% | 0.8% |
UNITED WHOLESALE MORTGAGE, LLC | $1,660,000 | $1,525,000 | -8.1% | 0.7% |
LOANPAL, LLC | $75,000 | $1,455,000 | 1,840.0% | 0.7% |
KeyBank | $245,000 | $1,400,000 | 471.4% | 0.7% |
BROKER SOLUTIONS, INC. | $1,320,000 | $1,255,000 | -4.9% | 0.6% |
First National Bank Texas | $1,825,000 | $1,090,000 | -40.3% | 0.5% |
JPMorgan Chase Bank | $1,340,000 | $945,000 | -29.5% | 0.5% |
Prosperity Home Mortgage, LLC | $325,000 | $930,000 | 186.2% | 0.5% |
Sunflower Bank | $545,000 | $915,000 | 67.9% | 0.4% |
Washington Federal Bank | $630,000 | $860,000 | 36.5% | 0.4% |
CHURCHILL MORTGAGE CORPORATION | $830,000 | n/a | 0.4% | |
AMCAP MORTGAGE, LTD. | $1,295,000 | $790,000 | -39.0% | 0.4% |
AMERICAN FINANCIAL RESOURCES, INC. | $475,000 | $700,000 | 47.4% | 0.3% |
HOMESIDE FINANCIAL, LLC | $145,000 | $695,000 | 379.3% | 0.3% |
The Jacksboro National Bank | $690,000 | n/a | 0.3% | |
SOUTHWEST STAGE FUNDING, LLC | $580,000 | $670,000 | 15.5% | 0.3% |
GUARANTEED RATE, INC. | $1,020,000 | $665,000 | -34.8% | 0.3% |
BOKF | $575,000 | $645,000 | 12.2% | 0.3% |
AmeriHome Mortgage Company, LLC | $320,000 | $635,000 | 98.4% | 0.3% |
NATIONS RELIABLE LENDING, LLC | $115,000 | $620,000 | 439.1% | 0.3% |
Nations Lending Corporation | $240,000 | $490,000 | 104.2% | 0.2% |
PLANET HOME LENDING, LLC | $630,000 | $460,000 | -27.0% | 0.2% |
VILLAGE CAPITAL MORTGAGE | $2,265,000 | $440,000 | -80.6% | 0.2% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $550,000 | $430,000 | -21.8% | 0.2% |
CMG MORTGAGE, INC. | $615,000 | $415,000 | -32.5% | 0.2% |
First Savings Bank | $415,000 | n/a | 0.2% | |
Gateway First Bank | $405,000 | n/a | 0.2% | |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $460,000 | $400,000 | -13.0% | 0.2% |
MICHIGAN MUTUAL, INC. | $1,420,000 | $395,000 | -72.2% | 0.2% |
MUTUAL OF OMAHA MORTGAGE, INC. | $240,000 | $395,000 | 64.6% | 0.2% |
COUNTRYPLACE MORTGAGE, LTD. | $575,000 | $385,000 | -33.0% | 0.2% |
BETTER MORTGAGE CORPORATION | $860,000 | $370,000 | -57.0% | 0.2% |
Bank of England | $465,000 | $360,000 | -22.6% | 0.2% |
NBKC BANK | $355,000 | n/a | 0.2% | |
CHEVRON | $335,000 | n/a | 0.2% | |
U.S. Bank | $850,000 | $315,000 | -62.9% | 0.2% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $305,000 | n/a | 0.1% | |
CORNERSTONE HOME LENDING, INC. | $325,000 | $305,000 | -6.2% | 0.1% |
Loan Simple, Inc. | $495,000 | $305,000 | -38.4% | 0.1% |
Flagstar Bank, FSB | $430,000 | $300,000 | -30.2% | 0.1% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $3,125,000 | $295,000 | -90.6% | 0.1% |
DEEPHAVEN MORTGAGE LLC | $275,000 | n/a | 0.1% | |
DRAPER AND KRAMER MORTGAGE CORP. | $265,000 | n/a | 0.1% | |
First Bank & Trust | $640,000 | $265,000 | -58.6% | 0.1% |
AMERICAN FINANCING CORPORATION | $285,000 | $255,000 | -10.5% | 0.1% |
Bank of America | $165,000 | $255,000 | 54.5% | 0.1% |
Century Mortgage Company DBA Century Lending Company | $255,000 | n/a | 0.1% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $795,000 | $255,000 | -67.9% | 0.1% |
First Financial Bank | $460,000 | $245,000 | -46.7% | 0.1% |
Prosperity Bank | $235,000 | n/a | 0.1% | |
Carrington Mortgage Services, LLC | $1,995,000 | $220,000 | -89.0% | 0.1% |
MANN FINANCIAL INC. | $215,000 | n/a | 0.1% | |
Semper Home Loans, Inc. | $215,000 | n/a | 0.1% | |
First Guaranty Mortgage Corporation | $840,000 | $205,000 | -75.6% | 0.1% |
NOVA FINANCIAL & INVESTMENT CORPORATION | $155,000 | $205,000 | 32.3% | 0.1% |
SWBC MORTGAGE CORPORATION | $205,000 | n/a | 0.1% | |
City Bank | $195,000 | n/a | 0.1% | |
Pioneer Bank | $255,000 | $195,000 | -23.5% | 0.1% |
PREMIA MORTGAGE, LLC | $185,000 | n/a | 0.1% | |
Barrington Bank & Trust Company, N.A. | $755,000 | $175,000 | -76.8% | 0.1% |
MORTGAGE ACCESS CORP. | $360,000 | $175,000 | -51.4% | 0.1% |
NEW DAY FINANCIAL, LLC | $885,000 | $165,000 | -81.4% | 0.1% |
Wyndham Capital Mortgage, Inc. | $565,000 | $165,000 | -70.8% | 0.1% |
MYCUMORTGAGE, LLC | $1,120,000 | $155,000 | -86.2% | 0.1% |
NUSENDA | $155,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $155,000 | n/a | 0.1% | |
Ally Bank | $505,000 | $145,000 | -71.3% | 0.1% |
Goldwater Bank, N.A. | $145,000 | n/a | 0.1% | |
Axos Bank | $285,000 | $135,000 | -52.6% | 0.1% |
American Bank of Commerce | $115,000 | n/a | 0.1% | |
CALIBER HOME LOANS, INC. | $980,000 | $115,000 | -88.3% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $190,000 | $115,000 | -39.5% | 0.1% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,000,000 | $110,000 | -89.0% | 0.1% |
RELIANCE FIRST CAPITAL, LLC | $165,000 | $105,000 | -36.4% | 0.1% |
Discover Bank | $115,000 | $85,000 | -26.1% | 0.0% |
TRIAD FINANCIAL SERVICES, INC. | $75,000 | n/a | 0.0% | |
AMERICAN ADVISORS GROUP | $160,000 | $70,000 | -56.3% | 0.0% |
Citizens National Bank of Texas | $65,000 | n/a | 0.0% |
Hobbs's top lender by overall market share is Paramount Residential Mortgage Group, Inc., with 19.4% market share. In second place, with 7.3%, is GENEVA FINANCIAL, LLC, having originated $14,950,000 in loans. In third place, with 7.0%, is SANDIA LABORATORY, having originated $14,405,000 in loans. In fourth place, with 6.8%, is Neighborhood Loans, Inc., having originated $13,970,000 in loans. In fifth place, with 6.5%, is QUICKEN LOANS, LLC, having originated $13,240,000 in loans.
Hobbs Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Hobbs (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 | $164,750 (-8.2%) | $188,375 (-4.5%) | 0.00 | 224 |
2018-02-01 | $162,475 (-8.4%) | $186,813 (-2.7%) | 0.00 | 219 |
2018-03-01 | $164,500 (-3.1%) | $191,209 (0.1%) | 0.00 | 192 |
2018-04-01 | $166,250 (-5.0%) | $192,118 (-0.8%) | 0.00 | 167 |
2018-05-01 | $179,125 (2.3%) | $203,331 (3.6%) | 0.00 | 161 |
2018-06-01 | $179,250 (5.6%) | $211,039 (7.2%) | 0.00 | 154 |
2018-07-01 | $175,000 (0.0%) | $213,764 (5.3%) | 0.00 | 138 |
2018-08-01 | $180,850 (1.1%) | $214,625 (4.8%) | 0.00 | 141 |
2018-09-01 | $173,450 (-1.5%) | $207,625 (1.6%) | 0.00 | 134 |
2018-10-01 | $175,300 (-0.5%) | $203,710 (1.9%) | 0.00 | 124 |
2018-11-01 | $179,450 (2.3%) | $212,679 (6.9%) | 0.00 | 122 |
2018-12-01 | $189,500 (8.0%) | $222,582 (13.3%) | 0.00 | 106 |
2019-01-01 | $190,750 (15.8%) | $235,308 (24.9%) | 0.00 | 81 |
2019-02-01 | $192,000 (18.2%) | $234,151 (25.3%) | 0.00 | 83 |
2019-03-01 | $199,450 (13.6%) | $229,311 (19.9%) | 0.00 | 65 |
2019-04-01 | $191,725 (12.2%) | $222,658 (15.9%) | 0.00 | 81 |
2019-05-01 | $185,710 (3.7%) | $222,428 (9.4%) | 0.00 | 87 |
2019-06-01 | $195,000 (8.8%) | $219,633 (4.1%) | 0.00 | 101 |
2019-07-01 | $177,000 (1.1%) | $204,840 (-4.2%) | 0.00 | 114 |
2019-08-01 | $184,750 (-1.7%) | $217,332 (1.3%) | 0.00 | 108 |
2019-09-01 | $180,705 (3.2%) | $251,039 (20.9%) | 0.00 | 102 |
2019-10-01 | $181,250 (2.6%) | $236,694 (16.2%) | 0.00 | 120 |
2019-11-01 | $183,000 (2.0%) | $226,029 (6.3%) | 0.00 | 136 |
2019-12-01 | $176,500 (-6.9%) | $219,047 (-1.6%) | 0.00 | 127 |
2020-01-01 | $181,730 (-4.7%) | $224,190 (-4.7%) | 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 (-1.2%) | 0.00 | 105 |
2020-04-01 | $199,550 (7.0%) | $226,106 (1.6%) | 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 (4.4%) | 0.00 | 104 |
2020-09-01 | $199,600 (11.5%) | $222,111 (-11.5%) | 0.00 | 116 |
2020-10-01 | $189,450 (5.3%) | $219,930 (-7.1%) | 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 | $196,100 (-1.7%) | $231,310 (2.3%) | 0.00 | 130 |
2021-05-01 | $195,000 (4.0%) | $223,947 (-1.1%) | 0.00 | 131 |
2021-06-01 | $197,250 (6.3%) | $231,315 (4.9%) | 0.00 | 150 |
2021-07-01 | $195,000 (1.2%) | $222,483 (0.2%) | 0.00 | 150 |
2021-08-01 | $192,000 (-2.0%) | $225,995 (-0.4%) | 0.00 | 154 |
2021-09-01 | $189,850 (-4.9%) | $226,022 (1.8%) | 0.00 | 144 |
2021-10-01 | $189,700 (0.1%) | $218,028 (-0.9%) | 0.00 | 146 |
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 (8.4%) | $260,906 (12.8%) | 0.00 | 102 |
2022-05-01 | $198,475 (1.8%) | $249,742 (11.5%) | 0.00 | 92 |
2022-06-01 | $209,725 (6.3%) | $260,064 (12.4%) | 0.00 | 89 |
2022-07-01 | $206,156 (5.7%) | $256,594 (15.3%) | 0.00 | 108 |
2022-08-01 | $218,750 (13.9%) | $265,861 (17.6%) | 0.00 | 111 |
2022-09-01 | $208,750 (10.0%) | $255,438 (13.0%) | 0.00 | 109 |
2022-10-01 | $215,000 (13.3%) | $247,034 (13.3%) | 0.00 | 107 |
2022-11-01 | $222,450 (17.4%) | $251,932 (12.7%) | 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 (0.0%) | $261,207 (0.1%) | 0.00 | 81 |
Hobbs's median listing price comes in at 0% of the national average.
Hobbs's average listing price for 2023-04-01 was $261,207, a difference of $301 (0.1%) versus the prior year and $4,266 versus the prior month.
For the 2023-04-01 period, Hobbs had 81 MLS listings, a difference of -9 listings (-10%) versus the prior month and -21 listings (-21%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hobbs (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,667 sqft |
2018-02-01 | 0 days | 1,644 sqft |
2018-03-01 | 0 days | 1,641 sqft |
2018-04-01 | 0 days | 1,623 sqft |
2018-05-01 | 0 days | 1,700 sqft |
2018-06-01 | 0 days | 1,723 sqft |
2018-07-01 | 0 days | 1,718 sqft |
2018-08-01 | 0 days | 1,809 sqft |
2018-09-01 | 0 days | 1,878 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 | 1,920 sqft |
2019-02-01 | 0 days | 1,862 sqft |
2019-03-01 | 0 days | 1,799 sqft |
2019-04-01 | 0 days | 1,830 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 | 1,815 sqft |
2019-09-01 | 0 days | 1,728 sqft |
2019-10-01 | 0 days | 1,805 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 | 1,811 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 | 1,774 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 | 1,843 sqft |
2021-05-01 | 0 days | 1,809 sqft |
2021-06-01 | 0 days | 1,811 sqft |
2021-07-01 | 0 days | 1,822 sqft |
2021-08-01 | 0 days | 1,853 sqft |
2021-09-01 | 0 days | 1,800 sqft |
2021-10-01 | 0 days | 1,795 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 |
Hobbs's median square footage for active listings during the 2023-04-01 period was 1,800 sqft. One year prior, the average listing was 1,822 sqft.
Hobbs, NM Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 693 | $162,515,000 | $234,509 |
Cash Out Refi | 97 | $17,935,000 | $184,897 |
Refi | 93 | $18,885,000 | $203,065 |
Other | 9 | $1,535,000 | $170,556 |
Home Improvement | 7 | $3,945,000 | $563,571 |
Hobbs's most frequently cited loan purpose was Home Purchase, with 693 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 226 | $68,510,000 | $303,142 |
4-5% | 200 | $42,810,000 | $214,050 |
3-4% | 186 | $37,450,000 | $201,344 |
6-7% | 115 | $22,035,000 | $191,609 |
Over 8% | 52 | $7,540,000 | $145,000 |
7-8% | 45 | $12,015,000 | $267,000 |
2.5-3% | 43 | $8,045,000 | $187,093 |
<2.5% | 13 | $2,375,000 | $182,692 |
During 2022, Hobbs's most frequently originated rate bucket was 5-6%, with 226 originations.
Loan Sizing (Hobbs, NM MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$200k-400k | 386 | $102,730,000 | $266,140 |
$100k-200k | 372 | $55,990,000 | $150,511 |
$100,000 or less | 109 | $6,745,000 | $61,881 |
$400k-600k | 23 | $10,345,000 | $449,783 |
$Over $1MM | 5 | $25,915,000 | $5,183,000 |
$600k-1000k | 4 | $3,090,000 | $772,500 |
Hobbs's loan sizing saw the bucket of loans from $200k-400k with 386 originations, totaling $102,730,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 658 | $140,590,000 | $213,663 |
60-80% | 117 | $38,875,000 | $332,265 |
40-60% | 35 | $4,105,000 | $117,286 |
Over 100% | 27 | $8,985,000 | $332,778 |
Under 20% | 22 | $130,000 | $5,909 |
20-40% | 14 | $6,580,000 | $470,000 |
Hobbs's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 658 originations, totaling $140,590,000 in origination value.