Hobbs Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Hobbs averaged
7.35%
for the week of 2025-07-03, compared to the national average of
6.67% for the same period.
The average rate for the prior week (2025-06-26) was
7.35% and
one month ago for the week of 2025-05-29, the
average rate was 7.27%.
Hobbs's average rate one year ago was 7.24%.
For refis of the same type during the week of 2025-07-03, the average rate
was 7.17%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-03 | 6.67% |
| Hobbs 30 Year Fixed Rate | 2025-07-03 | 7.35% |
| Hobbs 30 Year Fixed Rate Refi | 2025-07-03 | 7.17% |
| Hobbs 15 Year Fixed Rate | 2025-07-03 | 5.6% |
| Hobbs 15 Year Fixed Rate Refi | 2025-07-03 | 5.7% |
| Hobbs 30 Year FHA | 2025-07-03 | 0.04% |
| Hobbs 30 Year FHA Refi | 2025-07-03 | 0.1% |
| Hobbs 30 Year USDA | 2025-07-03 | 0% |
| Hobbs 30 Year USDA Refi | 2025-07-03 | 0.1% |
| Hobbs 30 Year VA | 2025-07-03 | 0.2% |
| Hobbs 30 Year VA Refi | 2025-07-03 | 0.1% |
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 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.