Hobbs Mortgage Rates & Closing Costs

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  • Trends
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Hobbs averaged 7.43% for the week of 2024-04-11, compared to the national average of 6.88% for the same period.

    The average rate for the prior week (2024-04-04) was 7.07% and one month ago for the week of 2024-03-07, the average rate was 7.23%.

    Hobbs's average rate one year ago was 6.63%.

    For refis of the same type during the week of 2024-04-11, the average rate was 7.18%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-11 6.88%
    Hobbs 30 Year Fixed Rate 2024-04-11 7.43%
    Hobbs 30 Year Fixed Rate Refi 2024-04-11 7.18%
    Hobbs 15 Year Fixed Rate 2024-04-11 6.16%
    Hobbs 15 Year Fixed Rate Refi 2024-04-11 6.06%
    Hobbs 30 Year FHA 2024-04-11 6.88%
    Hobbs 30 Year FHA Refi 2024-04-11 6.54%
    Hobbs 30 Year USDA 2024-04-11 6.71%
    Hobbs 30 Year USDA Refi 2024-04-11 6.71%
    Hobbs 30 Year VA 2024-04-11 6.57%
    Hobbs 30 Year VA Refi 2024-04-11 6.77%
    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
    Hobbs's median listing price for 2024-03-01 was $196,750, a difference of $-28,175 (-12.5%) versus the prior year and $3,250 versus the prior month.

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

    Hobbs's average listing price for 2024-03-01 was $268,981, a difference of $12,040 (4.7%) versus the prior year and $873 versus the prior month.

    For the 2024-03-01 period, Hobbs had 82 MLS listings, a difference of 10 listings (14%) versus the prior month and -8 listings (-9%) 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
    Hobbs's median listing age (time on market) for 2024-03-01 was 0 days.

    Hobbs's median square footage for active listings during the 2024-03-01 period was 1,751 sqft. One year prior, the average listing was 1,813 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.