MAYAGÜEZ Mortgage Rates
30 Year Fixed Rate mortgages in MayagÜez averaged
6.41%
for the week of 2022-06-30, compared to the national average of
5.7% for the same period.
The average rate for the prior week (2022-06-23) was
6.52% and
one month ago for the week of 2022-05-26, the
average rate was 6.01%.
MayagÜez's average rate one year ago was 4.37%.
For refis of the same type during the week of 2022-06-30, the average rate
was 5.78%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-30 | 5.7% |
| MayagÜez 30 Year Fixed Rate | 2022-06-30 | 6.41% |
| MayagÜez 30 Year Fixed Rate Refi | 2022-06-30 | 5.78% |
| MayagÜez 15 Year Fixed Rate | 2022-06-30 | 6.27% |
| MayagÜez 15 Year Fixed Rate Refi | 2022-06-30 | 5.13% |
| MayagÜez 30 Year FHA | 2022-06-30 | 5.58% |
| MayagÜez 30 Year FHA Refi | 2022-06-30 | 5.63% |
| MayagÜez 30 Year USDA | 2022-06-30 | 5.43% |
| MayagÜez 30 Year USDA Refi | 2022-06-30 | 3.1% |
| MayagÜez 30 Year VA | 2022-06-30 | 5.97% |
| MayagÜez 30 Year VA Refi | 2022-06-30 | 5.25% |
MAYAGÜEZ Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the MAYAGÜEZ, PR 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 | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| Banco Popular de Puerto Rico | 29 | 3.81% | $4,101 |
| Cooperativa de Ahorro y Credito de Rincon | 16 | 5.75% | $2,711 |
| Oriental Bank | 11 | 3.00% | $4,399 |
| Capital Mortgage Services Corp. | 6 | 4.92% | $13,787 |
| FIRSTBANK PUERTO RICO | 6 | 3.88% | $3,429 |
| COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO | 5 | 4.55% | $4,508 |
| PENTAGON FEDERAL CREDIT UNION | 4 | 2.78% | $4,689 |
| THE MONEY HOUSE INC. | 4 | 3.75% | $5,161 |
| FIRST EQUITY MORTGAGE BANKERS, INC. | 4 | 3.25% | $9,133 |
| SUN WEST MORTGAGE COMPANY, INC. | 3 | 3.04% | $6,194 |
| LENDUS, LLC | 2 | 3.25% | $6,314 |
| COOPERATIVA DE AHORRO Y CREDITO DE AGUADA | 2 | 3.56% | $4,586 |
| METRO ISLAND MORTGAGE, INC. | 1 | 3.75% | $8,135 |
| SAN RAFAEL COOP | 1 | 4.75% | $5,081 |
| CALCON MUTUAL MORTGAGE LLC | 1 | 4.50% | $6,698 |
| The Lending Center Corporation | 1 | 3.63% | $10,132 |
| Baxter Credit Union | 1 | 2.38% | $2,738 |
| TRUST MORTGAGE, CORP | 1 | 3.00% | $7,276 |
MAYAGÜEZ, PR's 18 lenders originated 349
loans during 2021. The total origination value was $44,445,000, with an average loan value of
$127,350.
The top MAYAGÜEZ lender as defined by loan originations is Banco Popular de Puerto Rico, with
29 loans originated. Their average total fees are
$4,101, which is $1,389
higher than the next largest lender,
Cooperativa de Ahorro y Credito de Rincon.
The lowest fee MAYAGÜEZ lenders (with over 10 loans originated) are
Cooperativa de Ahorro y Credito de Rincon ($2,711), Banco Popular de Puerto Rico ($4,101), Oriental Bank ($4,399), .
The lowest rate MAYAGÜEZ lenders (with over 10 loans originated) are
Oriental Bank (3.00%), Banco Popular de Puerto Rico (3.81%), Cooperativa de Ahorro y Credito de Rincon (5.75%), .
MAYAGÜEZ, PR Lender 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| Banco Popular de Puerto Rico | $8,700,000 | $10,315,000 | 18.6% | 23.2% |
| Oriental Bank | $2,755,000 | $6,290,000 | 128.3% | 14.2% |
| THE MONEY HOUSE INC. | $2,005,000 | $4,165,000 | 107.7% | 9.4% |
| SUN WEST MORTGAGE COMPANY, INC. | $620,000 | $3,620,000 | 483.9% | 8.1% |
| FIRSTBANK PUERTO RICO | $3,930,000 | $3,550,000 | -9.7% | 8.0% |
| Capital Mortgage Services Corp. | $825,000 | $3,215,000 | 289.7% | 7.2% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $440,000 | $2,300,000 | 422.7% | 5.2% |
| Cooperativa de Ahorro y Credito de Rincon | $1,500,000 | $2,285,000 | 52.3% | 5.1% |
| PENTAGON FEDERAL CREDIT UNION | $1,005,000 | $2,080,000 | 107.0% | 4.7% |
| COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO | $1,165,000 | n/a | 2.6% | |
| LENDUS, LLC | $735,000 | n/a | 1.7% | |
| Senior Mortgage Bankers Inc | $180,000 | $605,000 | 236.1% | 1.4% |
| COOPERATIVA DE AHORRO Y CREDITO DE AGUADA | $400,000 | n/a | 0.9% | |
| LATIN AMERICAN FINANCIAL CORPORATION | $255,000 | $385,000 | 51.0% | 0.9% |
| HR MORTGAGE CORP. | $375,000 | n/a | 0.8% | |
| The Lending Center Corporation | $370,000 | n/a | 0.8% | |
| METRO ISLAND MORTGAGE, INC. | $65,000 | $365,000 | 461.5% | 0.8% |
| Equity Prime Mortgage LLC | $320,000 | n/a | 0.7% | |
| E.M.I. EQUITY MORTGAGE, INC. | $615,000 | $275,000 | -55.3% | 0.6% |
| PREFERRED MORTGAGE CORPORATION | $410,000 | $255,000 | -37.8% | 0.6% |
| Rf Mortgage & Investment Corp | $250,000 | n/a | 0.6% | |
| RM ACTUAL MORTGAGE, INC. | $95,000 | $240,000 | 152.6% | 0.5% |
| Baxter Credit Union | $185,000 | $220,000 | 18.9% | 0.5% |
| TRUST MORTGAGE, CORP | $55,000 | $200,000 | 263.6% | 0.4% |
| CALCON MUTUAL MORTGAGE LLC | $200,000 | $155,000 | -22.5% | 0.3% |
| MULTIPLES MORTGAGE CORPORATION | $370,000 | $85,000 | -77.0% | 0.2% |
| VIG MORTGAGE CORPORATION | $85,000 | n/a | 0.2% | |
| HOME MORTGAGE BANKERS CORP. | $85,000 | $75,000 | -11.8% | 0.2% |
| SAN RAFAEL COOP | $45,000 | $65,000 | 44.4% | 0.1% |
MAYAGÜEZ's top lender by overall market share is Banco Popular de Puerto Rico, with 23.2% market share. In second place, with 14.2%, is Oriental Bank, having originated $6,290,000 in loans. In third place, with 9.4%, is THE MONEY HOUSE INC., having originated $4,165,000 in loans. In third place, with 8.1%, is SUN WEST MORTGAGE COMPANY, INC., having originated $3,620,000 in loans. In third place, with 8.0%, is FIRSTBANK PUERTO RICO, having originated $3,550,000 in loans.
MAYAGÜEZ, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 265 | $33,975,000 | $128,208 |
| Cash Out Refi | 42 | $5,230,000 | $124,524 |
| Refi | 39 | $4,915,000 | $126,026 |
| Other | 3 | $325,000 | $108,333 |
MayagÜez's most frequently cited loan purpose was Home Purchase, with 265 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 105 | $12,985,000 | $123,667 |
| 2.5-3% | 99 | $13,195,000 | $133,283 |
| <2.5% | 70 | $10,670,000 | $152,429 |
| 4-5% | 44 | $5,310,000 | $120,682 |
| 5-6% | 16 | $1,260,000 | $78,750 |
| 6-7% | 9 | $665,000 | $73,889 |
| 7-8% | 6 | $360,000 | $60,000 |
During 2021, MayagÜez's most frequently originated rate bucket was 3-4%, with 105 originations.
Loan Sizing (MAYAGÜEZ, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 162 | $11,510,000 | $71,049 |
| $100k-200k | 137 | $19,085,000 | $139,307 |
| $200k-400k | 44 | $11,160,000 | $253,636 |
| $400k-600k | 6 | $2,690,000 | $448,333 |
MAYAGÜEZ's loan sizing saw the bucket of loans from $100,000 or less with 162 originations, totaling $11,510,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 213 | $30,075,000 | $141,197 |
| 60-80% | 110 | $11,780,000 | $107,091 |
| 40-60% | 17 | $1,305,000 | $76,765 |
| 20-40% | 5 | $375,000 | $75,000 |
| Over 100% | 4 | $910,000 | $227,500 |
MAYAGÜEZ's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 213 originations, totaling $30,075,000 in origination value.
