Pecos Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Pecos averaged
6.59%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.92% and
one month ago for the week of 2024-10-03, the
average rate was 6.32%.
Pecos's average rate one year ago was 7.86%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Pecos 30 Year Fixed Rate | 2024-11-07 | 6.59% |
| Pecos 30 Year Fixed Rate Refi | 2024-11-07 | 6.99% |
| Pecos 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Pecos 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Pecos 30 Year FHA | 2024-11-07 | 6.23% |
| Pecos 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Pecos 30 Year USDA | 2024-11-07 | 6.38% |
| Pecos 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Pecos 30 Year VA | 2024-11-07 | 6.14% |
| Pecos 30 Year VA Refi | 2024-11-07 | 6.34% |
Pecos 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 Pecos, TX 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 |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 7.39% | $10,470 |
| Waterstone Mortgage Corporation | 3 | 6.92% | $7,296 |
| QUICKEN LOANS, LLC | 2 | 7.31% | $7,678 |
| JPMorgan Chase Bank | 2 | 6.63% | $7,225 |
| LAKEVIEW LOAN SERVICING, LLC | 1 | 6.88% | $8,912 |
| LOANDEPOT.COM, LLC | 1 | 6.88% | $8,976 |
| Mortgage Research Center, LLC | 1 | 6.63% | $2,772 |
| NAVY ARMY COMMUNITY CREDIT UNION | 1 | 6.25% | $100 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 7.13% | $7,421 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.99% | $6,873 |
| SECURITYNATIONAL MORTGAGE COMPANY | 1 | 7.13% | $7,009 |
| The Loan Store, Inc. | 1 | 7.38% | $5,230 |
| BROKER SOLUTIONS, INC. | 1 | 7.38% | $5,994 |
| ZILLOW HOME LOANS, LLC | 1 | 7.63% | $4,397 |
| CARDINAL FINANCIAL | 1 | 6.25% | $5,296 |
| CHEVRON | 1 | 5.25% | $1,585 |
| GUARANTEED RATE, INC. | 1 | 6.60% | $11,214 |
Pecos Average Closing Costs & Other Stats
Pecos, TX's 17 lenders originated 111
loans during 2023. The total origination value was $22,445,000, with an average loan value of
$202,207.
Pecos's average closing costs are $8,323.
The top Pecos lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
4 loans originated. Their average total fees are
$10,470, which is $3,173
higher than the next largest lender,
Waterstone Mortgage Corporation.
The lowest fee Pecos lenders (with over 10 loans originated) are
.
The lowest rate Pecos lenders (with over 10 loans originated) are
.
Pecos, TX 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 |
|---|---|---|---|---|
| Waterstone Mortgage Corporation | $3,015,000 | $2,885,000 | -4.3% | 12.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $450,000 | $2,455,000 | 445.6% | 10.9% |
| 21ST MORTGAGE CORPORATION | $900,000 | $2,120,000 | 135.6% | 9.4% |
| JPMorgan Chase Bank | $1,100,000 | n/a | 4.9% | |
| GUARANTEED RATE, INC. | $265,000 | $885,000 | 234.0% | 3.9% |
| QUICKEN LOANS, LLC | $1,125,000 | $810,000 | -28.0% | 3.6% |
| SECURITYNATIONAL MORTGAGE COMPANY | $1,360,000 | $780,000 | -42.6% | 3.5% |
| LOANDEPOT.COM, LLC | $270,000 | $705,000 | 161.1% | 3.1% |
| GUILD MORTGAGE COMPANY | $945,000 | $550,000 | -41.8% | 2.5% |
| PENNYMAC LOAN SERVICES, LLC | $115,000 | $475,000 | 313.0% | 2.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $450,000 | $430,000 | -4.4% | 1.9% |
| West Texas National Bank | $835,000 | $420,000 | -49.7% | 1.9% |
| AMCAP MORTGAGE, LTD. | $295,000 | $415,000 | 40.7% | 1.8% |
| SOUTHWEST STAGE FUNDING, LLC | $505,000 | $395,000 | -21.8% | 1.8% |
| Southwest Bank | $385,000 | n/a | 1.7% | |
| WILLOW BEND MORTGAGE COMPANY, LLC | $375,000 | n/a | 1.7% | |
| Gateway First Bank | $135,000 | $365,000 | 170.4% | 1.6% |
| CARDINAL FINANCIAL | $1,055,000 | $360,000 | -65.9% | 1.6% |
| Strong Home Mortgage, LLC | $345,000 | n/a | 1.5% | |
| Wells Fargo Bank | $735,000 | $340,000 | -53.7% | 1.5% |
| Pecos County State Bank | $290,000 | n/a | 1.3% | |
| Community National Bank | $285,000 | n/a | 1.3% | |
| TJC Mortgage, Inc. | $285,000 | n/a | 1.3% | |
| MANN FINANCIAL INC. | $275,000 | n/a | 1.2% | |
| Mortgage Research Center, LLC | $695,000 | $275,000 | -60.4% | 1.2% |
| LAKEVIEW LOAN SERVICING, LLC | $265,000 | n/a | 1.2% | |
| OCMBC, INC. | $265,000 | n/a | 1.2% | |
| Texas National Bank | $265,000 | n/a | 1.2% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $315,000 | $250,000 | -20.6% | 1.1% |
| NAVY ARMY COMMUNITY CREDIT UNION | $235,000 | n/a | 1.0% | |
| BROKER SOLUTIONS, INC. | $95,000 | $230,000 | 142.1% | 1.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $95,000 | $200,000 | 110.5% | 0.9% |
| EVERETT FINANCIAL, INC. | $255,000 | $195,000 | -23.5% | 0.9% |
| Watermark Capital, Inc. | $540,000 | $195,000 | -63.9% | 0.9% |
| DIRECTIONS EQUITY, LLC | $185,000 | n/a | 0.8% | |
| Complex Community Federal Credit Union | $165,000 | n/a | 0.7% | |
| Mr. Cooper ( Nationstar Mortgage ) | $165,000 | n/a | 0.7% | |
| CROSSCOUNTRY MORTGAGE, LLC | $525,000 | $155,000 | -70.5% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $155,000 | n/a | 0.7% | |
| ZILLOW HOME LOANS, LLC | $155,000 | n/a | 0.7% | |
| The Loan Store, Inc. | $145,000 | n/a | 0.6% | |
| CHEVRON | $135,000 | n/a | 0.6% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $135,000 | n/a | 0.6% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $125,000 | n/a | 0.6% | |
| PLAZA HOME MORTGAGE, INC. | $115,000 | n/a | 0.5% | |
| CSL Financial, LLC | $105,000 | n/a | 0.5% | |
| Bank of America | $65,000 | n/a | 0.3% |
Pecos's top lender by overall market share is Waterstone Mortgage Corporation, with 12.9% market share. In second place, with 10.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $2,455,000 in loans. In third place, with 9.4%, is 21ST MORTGAGE CORPORATION, having originated $2,120,000 in loans. In fourth place, with 4.9%, is JPMorgan Chase Bank, having originated $1,100,000 in loans. In fifth place, with 3.9%, is GUARANTEED RATE, INC., having originated $885,000 in loans.
Pecos, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 93 | $19,235,000 | $206,828 |
| Cash Out Refi | 7 | $1,335,000 | $190,714 |
| Home Improvement | 6 | $650,000 | $108,333 |
| Other | 3 | $645,000 | $215,000 |
| Refi | 2 | $580,000 | $290,000 |
Pecos's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 37 | $9,185,000 | $248,243 |
| 7-8% | 25 | $5,225,000 | $209,000 |
| Over 8% | 25 | $3,555,000 | $142,200 |
| 5-6% | 13 | $2,845,000 | $218,846 |
| <2.5% | 1 | $5,000 | $5,000 |
| 4-5% | 1 | $205,000 | $205,000 |
During 2023, Pecos's most frequently originated rate bucket was 6-7%, with 37 originations.
Loan Sizing (Pecos, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 47 | $7,025,000 | $149,468 |
| $200k-400k | 45 | $12,545,000 | $278,778 |
| $100,000 or less | 15 | $1,055,000 | $70,333 |
| $400k-600k | 4 | $1,820,000 | $455,000 |
Pecos's loan sizing saw the bucket of loans from $100k-200k with 47 originations, totaling $7,025,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 78 | $16,370,000 | $209,872 |
| 60-80% | 11 | $2,325,000 | $211,364 |
| 40-60% | 6 | $1,260,000 | $210,000 |
| 20-40% | 2 | $230,000 | $115,000 |
| Over 100% | 2 | $560,000 | $280,000 |
| Under 20% | 1 | $5,000 | $5,000 |
Pecos's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 78 originations, totaling $16,370,000 in origination value.