Portales Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Portales averaged 6.89% for the week of 2024-07-11, compared to the national average of 6.89% for the same period.

    The average rate for the prior week (2024-07-03) was 6.95% and one month ago for the week of 2024-06-06, the average rate was 6.99%.

    Portales's average rate one year ago was 6.71%.

    For refis of the same type during the week of 2024-07-11, the average rate was 7.09%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-07-11 6.89%
    Portales 30 Year Fixed Rate 2024-07-11 6.89%
    Portales 30 Year Fixed Rate Refi 2024-07-11 7.09%
    Portales 15 Year Fixed Rate 2024-07-11 6.07%
    Portales 15 Year Fixed Rate Refi 2024-07-11 6.67%
    Portales 30 Year FHA 2024-07-11 6.46%
    Portales 30 Year FHA Refi 2024-07-11 6.56%
    Portales 30 Year USDA 2024-07-11 6.77%
    Portales 30 Year USDA Refi 2024-07-11 6.47%
    Portales 30 Year VA 2024-07-11 6.36%
    Portales 30 Year VA Refi 2024-07-11 6.16%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Portales, NM.

    Portales 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 Portales, 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
    PRIMARY RESIDENTIAL MORTGAGE, INC. 13 6.93% $6,166
    QUICKEN LOANS, LLC 5 6.55% $9,417
    RANLIFE, INC. 3 6.25% $6,854
    Prosperity Home Mortgage, LLC 3 7.21% $4,979
    Wells Fargo Bank 2 6.06% $6,605
    Bell Bank 2 6.93% $6,478
    First Financial Credit Union 2 6.13% $4,529
    NAVY FEDERAL CREDIT UNION 2 5.88% $1,734
    Plains Commerce Bank 2 7.50% $5,567
    UNITED WHOLESALE MORTGAGE, LLC 2 6.77% $5,224
    U.S. Bank 2 6.75% $2,709
    LOANDEPOT.COM, LLC 1 7.38% $4,564
    LAKEVIEW LOAN SERVICING, LLC 1 6.63% $5,451
    CHURCHILL MORTGAGE CORPORATION 1 7.38% $3,547
    BROKER SOLUTIONS, INC. 1 7.99% $6,405
    SANDIA LABORATORY 1 5.38% $1,285
    The Huntington National Bank 1 6.88% $5,917
    Mortgage Research Center, LLC 1 6.25% $1,772
    MOVEMENT MORTGAGE, LLC 1 7.38% $4,272
    Waterstone Mortgage Corporation 1 6.63% $3,414
    AMERISAVE MORTGAGE CORPORATION 1 6.50% $6,383

    Portales Average Closing Costs & Other Stats

    Portales, NM's 21 lenders originated 188 loans during 2023. The total origination value was $30,940,000, with an average loan value of $164,574.

    Portales's average closing costs are $4,845.

    The top Portales lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with 13 loans originated. Their average total fees are $6,166, which is $3,251 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Portales lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. ($6,166), .

    The lowest rate Portales lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. (6.93%), .

    Portales, 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
    PRIMARY RESIDENTIAL MORTGAGE, INC. $11,480,000 $7,565,000 -34.1% 24.5%
    NAVY FEDERAL CREDIT UNION $535,000 $3,265,000 510.3% 10.6%
    QUICKEN LOANS, LLC $2,355,000 $2,705,000 14.9% 8.7%
    Bell Bank $3,605,000 $2,440,000 -32.3% 7.9%
    Mortgage Research Center, LLC $2,835,000 $2,145,000 -24.3% 6.9%
    RANLIFE, INC. $205,000 $1,295,000 531.7% 4.2%
    Plains Commerce Bank $155,000 $910,000 487.1% 2.9%
    21ST MORTGAGE CORPORATION $725,000 $810,000 11.7% 2.6%
    Wells Fargo Bank $630,000 $755,000 19.8% 2.4%
    Prosperity Home Mortgage, LLC $285,000 $720,000 152.6% 2.3%
    UNITED WHOLESALE MORTGAGE, LLC $1,350,000 $655,000 -51.5% 2.1%
    NBKC BANK $450,000 $625,000 38.9% 2.0%
    CROSSCOUNTRY MORTGAGE, LLC $195,000 $575,000 194.9% 1.9%
    Flagstar Bank, FSB $310,000 $465,000 50.0% 1.5%
    The Huntington National Bank $145,000 $325,000 124.1% 1.1%
    CARDINAL FINANCIAL $350,000 $305,000 -12.9% 1.0%
    SOUTHWEST STAGE FUNDING, LLC $235,000 $285,000 21.3% 0.9%
    AMERISAVE MORTGAGE CORPORATION $260,000 n/a 0.8%
    PENNYMAC LOAN SERVICES, LLC $135,000 $255,000 88.9% 0.8%
    USAA Federal Savings Bank $2,370,000 $255,000 -89.2% 0.8%
    BROKER SOLUTIONS, INC. $230,000 $250,000 8.7% 0.8%
    AMERICAN FINANCING CORPORATION $245,000 n/a 0.8%
    CHURCHILL MORTGAGE CORPORATION $135,000 $245,000 81.5% 0.8%
    PENTAGON FEDERAL CREDIT UNION $245,000 n/a 0.8%
    First Financial Credit Union $575,000 $240,000 -58.3% 0.8%
    GUARANTEED RATE, INC. $660,000 $235,000 -64.4% 0.8%
    GUILD MORTGAGE COMPANY $195,000 $215,000 10.3% 0.7%
    T2 FINANCIAL LLC $205,000 n/a 0.7%
    The Federal Savings Bank $195,000 n/a 0.6%
    SANDIA LABORATORY $160,000 n/a 0.5%
    DIRECTORS MORTGAGE, INC. $155,000 n/a 0.5%
    LAKEVIEW LOAN SERVICING, LLC $155,000 n/a 0.5%
    Wallick & Volk, Inc. $150,000 n/a 0.5%
    MOVEMENT MORTGAGE, LLC $185,000 $145,000 -21.6% 0.5%
    AMERICAN PACIFIC MORTGAGE CORPORATION $135,000 n/a 0.4%
    LOANDEPOT.COM, LLC $125,000 n/a 0.4%
    GUARANTY HOME MORTGAGE CORPORATION $115,000 n/a 0.4%
    U.S. Bank $665,000 $100,000 -85.0% 0.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $95,000 n/a 0.3%
    Coastal Community Bank $85,000 n/a 0.3%
    FLAT BRANCH MORTGAGE, INC. $75,000 n/a 0.2%
    NUSENDA $190,000 $65,000 -65.8% 0.2%
    Waterstone Mortgage Corporation $140,000 $65,000 -53.6% 0.2%
    Equity Bank $55,000 n/a 0.2%
    STATE EMPLOYEES $55,000 n/a 0.2%
    Discover Bank $45,000 n/a 0.1%
    BOKF $25,000 n/a 0.1%

    Portales's top lender by overall market share is PRIMARY RESIDENTIAL MORTGAGE, INC., with 24.5% market share. In second place, with 10.6%, is NAVY FEDERAL CREDIT UNION, having originated $3,265,000 in loans. In third place, with 8.7%, is QUICKEN LOANS, LLC, having originated $2,705,000 in loans. In fourth place, with 7.9%, is Bell Bank, having originated $2,440,000 in loans. In fifth place, with 6.9%, is Mortgage Research Center, LLC, having originated $2,145,000 in loans.

    Portales Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Portales (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 $144,600 (-2.3%) $153,601 (4.4%) 0.00 120
    2018-02-01 $155,000 (2.0%) $155,213 (3.4%) 0.00 115
    2018-03-01 $156,000 (3.3%) $157,875 (5.5%) 0.00 122
    2018-04-01 $154,950 (4.7%) $156,352 (8.5%) 0.00 126
    2018-05-01 $149,500 (0.3%) $153,307 (3.3%) 0.00 117
    2018-06-01 $149,000 (-0.6%) $152,062 (-0.6%) 0.00 120
    2018-07-01 $152,225 (-1.3%) $152,730 (-2.4%) 0.00 124
    2018-08-01 $150,425 (-6.1%) $154,939 (-4.9%) 0.00 114
    2018-09-01 $147,750 (-7.6%) $150,337 (-11.2%) 0.00 113
    2018-10-01 $144,900 (-10.0%) $147,982 (-9.8%) 0.00 109
    2018-11-01 $145,000 (-5.8%) $149,022 (-6.2%) 0.00 110
    2018-12-01 $145,000 (-3.7%) $151,027 (-3.8%) 0.00 115
    2019-01-01 $144,250 (-0.2%) $152,175 (-0.9%) 0.00 105
    2019-02-01 $145,000 (-6.5%) $156,224 (0.7%) 0.00 103
    2019-03-01 $145,000 (-7.1%) $156,551 (-0.8%) 0.00 99
    2019-04-01 $147,000 (-5.1%) $159,778 (2.2%) 0.00 100
    2019-05-01 $148,000 (-1.0%) $156,549 (2.1%) 0.00 94
    2019-06-01 $149,900 (0.6%) $165,809 (9.0%) 0.00 90
    2019-07-01 $157,250 (3.3%) $169,853 (11.2%) 0.00 95
    2019-08-01 $157,818 (4.9%) $170,019 (9.7%) 0.00 92
    2019-09-01 $156,795 (6.1%) $168,352 (12.0%) 0.00 92
    2019-10-01 $154,225 (6.4%) $161,856 (9.4%) 0.00 93
    2019-11-01 $149,000 (2.8%) $155,965 (4.7%) 0.00 92
    2019-12-01 $148,250 (2.2%) $155,582 (3.0%) 0.00 91
    2020-01-01 $150,000 (4.0%) $159,991 (5.1%) 0.00 87
    2020-02-01 $155,000 (6.9%) $165,406 (5.9%) 0.00 88
    2020-03-01 $155,500 (7.2%) $163,436 (4.4%) 0.00 92
    2020-04-01 $152,250 (3.6%) $156,085 (-2.3%) 0.00 87
    2020-05-01 $149,500 (1.0%) $150,525 (-3.9%) 0.00 83
    2020-06-01 $151,150 (0.8%) $150,393 (-9.3%) 0.00 77
    2020-07-01 $143,750 (-8.6%) $146,998 (-13.5%) 0.00 74
    2020-08-01 $145,000 (-8.1%) $149,386 (-12.1%) 0.00 70
    2020-09-01 $142,225 (-9.3%) $149,831 (-11.0%) 0.00 69
    2020-10-01 $160,750 (4.2%) $162,750 (0.6%) 0.00 73
    2020-11-01 $174,475 (17.1%) $171,118 (9.7%) 0.00 77
    2020-12-01 $177,000 (19.4%) $176,378 (13.4%) 0.00 72
    2021-01-01 $175,000 (16.7%) $175,628 (9.8%) 0.00 70
    2021-02-01 $166,700 (7.6%) $167,393 (1.2%) 0.00 75
    2021-03-01 $154,225 (-0.8%) $163,529 (0.1%) 0.00 72
    2021-04-01 $153,000 (0.5%) $165,598 (6.1%) 0.00 73
    2021-05-01 $148,000 (-1.0%) $163,672 (8.7%) 0.00 65
    2021-06-01 $149,450 (-1.1%) $165,667 (10.2%) 0.00 59
    2021-07-01 $146,000 (1.6%) $157,782 (7.3%) 0.00 59
    2021-08-01 $148,250 (2.2%) $169,298 (13.3%) 0.00 54
    2021-09-01 $159,700 (12.3%) $169,607 (13.2%) 0.00 52
    2021-10-01 $175,000 (8.9%) $175,184 (7.6%) 0.00 55
    2021-11-01 $159,000 (-8.9%) $166,745 (-2.6%) 0.00 59
    2021-12-01 $149,500 (-15.5%) $158,921 (-9.9%) 0.00 48
    2022-01-01 $149,000 (-14.9%) $163,567 (-6.9%) 0.00 36
    2022-02-01 $149,500 (-10.3%) $171,627 (2.5%) 0.00 35
    2022-03-01 $151,500 (-1.8%) $172,954 (5.8%) 0.00 37
    2022-04-01 $149,000 (-2.6%) $174,714 (5.5%) 0.00 34
    2022-05-01 $157,500 (6.4%) $176,487 (7.8%) 0.00 44
    2022-06-01 $163,000 (9.1%) $175,862 (6.2%) 0.00 40
    2022-07-01 $174,500 (19.5%) $189,129 (19.9%) 0.00 39
    2022-08-01 $177,000 (19.4%) $203,341 (20.1%) 0.00 42
    2022-09-01 $174,750 (9.4%) $204,664 (20.7%) 0.00 43
    2022-10-01 $180,500 (3.1%) $206,993 (18.2%) 0.00 40
    2022-11-01 $190,000 (19.5%) $216,770 (30.0%) 0.00 35
    2022-12-01 $179,000 (19.7%) $219,362 (38.0%) 0.00 37
    2023-01-01 $184,225 (23.6%) $219,999 (34.5%) 0.00 39
    2023-02-01 $179,000 (19.7%) $223,765 (30.4%) 0.00 44
    2023-03-01 $189,500 (25.1%) $227,907 (31.8%) 0.00 49
    2023-04-01 $217,000 (45.6%) $242,703 (38.9%) 0.00 46
    2023-05-01 $214,450 (36.2%) $241,645 (36.9%) 0.00 43
    2023-06-01 $247,975 (52.1%) $272,599 (55.0%) 0.00 38
    2023-07-01 $227,500 (30.4%) $250,410 (32.4%) 0.00 45
    2023-08-01 $212,000 (19.8%) $244,744 (20.4%) 0.00 46
    2023-09-01 $205,000 (17.3%) $234,205 (14.4%) 0.00 50
    2023-10-01 $197,750 (9.6%) $218,858 (5.7%) 0.00 56
    2023-11-01 $190,325 (0.2%) $217,805 (0.5%) 0.00 61
    2023-12-01 $186,250 (4.1%) $217,967 (-0.6%) 0.00 53
    2024-01-01 $186,375 (1.2%) $220,347 (0.2%) 0.00 58
    2024-02-01 $188,000 (5.0%) $223,991 (0.1%) 0.00 59
    2024-03-01 $187,000 (-1.3%) $221,869 (-2.7%) 0.00 63
    2024-04-01 $192,250 (-11.4%) $223,626 (-7.9%) 0.00 67
    2024-05-01 $197,500 (-7.9%) $215,134 (-11.0%) 0.00 74
    2024-06-01 $192,000 (-22.6%) $214,056 (-21.5%) 0.00 74
    Portales's median listing price for 2024-06-01 was $192,000, a difference of $-55,975 (-22.6%) versus the prior year and $-5,500 versus the prior month.

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

    Portales's average listing price for 2024-06-01 was $214,056, a difference of $-58,543 (-21.5%) versus the prior year and $-1,078 versus the prior month.

    For the 2024-06-01 period, Portales had 74 MLS listings, a difference of 0 listings (0%) versus the prior month and 36 listings (95%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portales (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,755 sqft
    2018-02-01 0 days 1,758 sqft
    2018-03-01 0 days 1,769 sqft
    2018-04-01 0 days 1,745 sqft
    2018-05-01 0 days 1,742 sqft
    2018-06-01 0 days 1,753 sqft
    2018-07-01 0 days 1,743 sqft
    2018-08-01 0 days 1,771 sqft
    2018-09-01 0 days 1,787 sqft
    2018-10-01 0 days 1,772 sqft
    2018-11-01 0 days 1,776 sqft
    2018-12-01 0 days 1,784 sqft
    2019-01-01 0 days 1,816 sqft
    2019-02-01 0 days 1,821 sqft
    2019-03-01 0 days 1,819 sqft
    2019-04-01 0 days 1,802 sqft
    2019-05-01 0 days 1,749 sqft
    2019-06-01 0 days 1,775 sqft
    2019-07-01 0 days 1,820 sqft
    2019-08-01 0 days 1,893 sqft
    2019-09-01 0 days 1,897 sqft
    2019-10-01 0 days 1,894 sqft
    2019-11-01 0 days 1,847 sqft
    2019-12-01 0 days 1,827 sqft
    2020-01-01 0 days 1,882 sqft
    2020-02-01 0 days 1,847 sqft
    2020-03-01 0 days 1,842 sqft
    2020-04-01 0 days 1,768 sqft
    2020-05-01 0 days 1,696 sqft
    2020-06-01 0 days 1,674 sqft
    2020-07-01 0 days 1,707 sqft
    2020-08-01 0 days 1,664 sqft
    2020-09-01 0 days 1,686 sqft
    2020-10-01 0 days 1,800 sqft
    2020-11-01 0 days 1,793 sqft
    2020-12-01 0 days 1,837 sqft
    2021-01-01 0 days 1,847 sqft
    2021-02-01 0 days 1,864 sqft
    2021-03-01 0 days 1,810 sqft
    2021-04-01 0 days 1,775 sqft
    2021-05-01 0 days 1,766 sqft
    2021-06-01 0 days 1,740 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 1,689 sqft
    2021-09-01 0 days 1,710 sqft
    2021-10-01 0 days 1,814 sqft
    2021-11-01 0 days 1,773 sqft
    2021-12-01 0 days 1,777 sqft
    2022-01-01 0 days 1,756 sqft
    2022-02-01 0 days 1,656 sqft
    2022-03-01 0 days 1,757 sqft
    2022-04-01 0 days 1,755 sqft
    2022-05-01 0 days 1,750 sqft
    2022-06-01 0 days 1,771 sqft
    2022-07-01 0 days 1,758 sqft
    2022-08-01 0 days 1,759 sqft
    2022-09-01 0 days 1,812 sqft
    2022-10-01 0 days 1,864 sqft
    2022-11-01 0 days 1,857 sqft
    2022-12-01 0 days 1,779 sqft
    2023-01-01 0 days 1,792 sqft
    2023-02-01 0 days 1,801 sqft
    2023-03-01 0 days 1,774 sqft
    2023-04-01 0 days 1,822 sqft
    2023-05-01 0 days 1,763 sqft
    2023-06-01 0 days 1,793 sqft
    2023-07-01 0 days 1,772 sqft
    2023-08-01 0 days 1,761 sqft
    2023-09-01 0 days 1,750 sqft
    2023-10-01 0 days 1,674 sqft
    2023-11-01 0 days 1,673 sqft
    2023-12-01 0 days 1,678 sqft
    2024-01-01 0 days 1,701 sqft
    2024-02-01 0 days 1,710 sqft
    2024-03-01 0 days 1,719 sqft
    2024-04-01 0 days 1,727 sqft
    2024-05-01 0 days 1,755 sqft
    2024-06-01 0 days 1,766 sqft
    Portales's median listing age (time on market) for 2024-06-01 was 0 days.

    Portales's median square footage for active listings during the 2024-06-01 period was 1,766 sqft. One year prior, the average listing was 1,793 sqft.

    Portales, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 154 $26,300,000 $170,779
    Cash Out Refi 13 $1,845,000 $141,923
    Other 10 $750,000 $75,000
    Refi 8 $1,900,000 $237,500
    Home Improvement 3 $145,000 $48,333

    Portales's most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 87 $15,175,000 $174,425
    5-6% 45 $8,665,000 $192,556
    7-8% 34 $5,480,000 $161,176
    Over 8% 18 $1,390,000 $77,222
    <2.5% 2 $10,000 $5,000
    4-5% 2 $220,000 $110,000

    During 2023, Portales's most frequently originated rate bucket was 6-7%, with 87 originations.

    Loan Sizing (Portales, NM MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 69 $10,315,000 $149,493
    $200k-400k 62 $16,250,000 $262,097
    $100,000 or less 54 $2,900,000 $53,704
    $400k-600k 3 $1,475,000 $491,667

    Portales's loan sizing saw the bucket of loans from $100k-200k with 69 originations, totaling $10,315,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 114 $22,550,000 $197,807
    60-80% 28 $3,770,000 $134,643
    Under 20% 19 $295,000 $15,526
    Over 100% 10 $2,530,000 $253,000
    20-40% 9 $765,000 $85,000
    40-60% 8 $1,030,000 $128,750

    Portales's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 114 originations, totaling $22,550,000 in origination value.