Portales Mortgage Rates

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

    30 Year Fixed Rate mortgages in Portales averaged 6.26% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

    The average rate for the prior week (2022-06-16) was 6.23% and one month ago for the week of 2022-05-19, the average rate was 5.8%.

    Portales's average rate one year ago was 3.39%.

    For refis of the same type during the week of 2022-06-23, the average rate was 6.19%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-23 5.81%
    Portales 30 Year Fixed Rate 2022-06-23 6.26%
    Portales 30 Year Fixed Rate Refi 2022-06-23 6.19%
    Portales 15 Year Fixed Rate 2022-06-23 5.31%
    Portales 15 Year Fixed Rate Refi 2022-06-23 5.2%
    Portales 30 Year FHA 2022-06-23 0.57%
    Portales 30 Year FHA Refi 2022-06-23 -0.08%
    Portales 30 Year USDA 2022-06-23 -0.08%
    Portales 30 Year USDA Refi 2022-06-23 -0.27%
    Portales 30 Year VA 2022-06-23 0.3%
    Portales 30 Year VA Refi 2022-06-23 0.27%
    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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    PRIMARY RESIDENTIAL MORTGAGE, INC. 43 3.17% $3,031
    QUICKEN LOANS, LLC 12 3.08% $4,771
    LOANDEPOT.COM, LLC 5 3.63% $4,654
    Wells Fargo Bank 4 3.88% $2,359
    UNITED WHOLESALE MORTGAGE, LLC 3 2.92% $6,369
    BROKER SOLUTIONS, INC. 3 3.41% $3,645
    MICHIGAN MUTUAL, INC. 2 3.12% $4,889
    City Bank 1 3.25% $5,033
    First Bank & Trust 1 3.50% $2,636
    FREEDOM MORTGAGE CORPORATION 1 2.88% $2,766
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.63% $3,362
    HOME POINT FINANCIAL CORPORATION 1 3.25% $2,822
    JPMorgan Chase Bank 1 3.49% $2,062
    LAKEVIEW LOAN SERVICING, LLC 1 3.75% $5,098
    Bell Bank 1 3.13% $1,717
    LOANPAL, LLC 1 2.99% $6,098
    Manufacturers and Traders Trust Company 1 3.25% $6,043
    MOUNTAIN AMERICA 1 3.13% $4,673
    MOVEMENT MORTGAGE, LLC 1 2.88% $2,353
    North American Savings Bank, F.S.B. 1 2.88% $2,907
    PENNYMAC LOAN SERVICES, LLC 1 3.88% $2,999
    PENTAGON FEDERAL CREDIT UNION 1 2.50% $1,329
    Armed Forces Bank 1 3.38% $2,156
    Prosperity Home Mortgage, LLC 1 3.88% $3,315
    Amarillo National Bank 1 3.38% $2,756
    VAN DYK MORTGAGE CORPORATION 1 3.63% $2,281
    BOKF 1 4.75% $4,978
    Ally Bank 1 2.38% $13,292
    CHURCHILL MORTGAGE CORPORATION 1 4.25% $3,949
    Citizens Bank 1 3.38% $3,361

    Portales, NM's 30 lenders originated 351 loans during 2021. The total origination value was $55,125,000, with an average loan value of $157,051.

    The top Portales lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with 43 loans originated. Their average total fees are $3,031, which is $1,741 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Portales lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. ($3,031), QUICKEN LOANS, LLC ($4,771), .

    The lowest rate Portales lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.08%), PRIMARY RESIDENTIAL MORTGAGE, INC. (3.17%), .

    Portales, NM 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
    PRIMARY RESIDENTIAL MORTGAGE, INC. $16,975,000 $19,680,000 15.9% 35.7%
    QUICKEN LOANS, LLC $5,655,000 $4,980,000 -11.9% 9.0%
    Mortgage Research Center, LLC $2,300,000 $3,375,000 46.7% 6.1%
    Bell Bank $2,565,000 $3,185,000 24.2% 5.8%
    FREEDOM MORTGAGE CORPORATION $2,030,000 $2,340,000 15.3% 4.2%
    HOME POINT FINANCIAL CORPORATION $290,000 $1,370,000 372.4% 2.5%
    U.S. Bank $860,000 $1,335,000 55.2% 2.4%
    Wells Fargo Bank $655,000 $1,320,000 101.5% 2.4%
    USAA Federal Savings Bank $1,575,000 $1,285,000 -18.4% 2.3%
    LOANDEPOT.COM, LLC $1,965,000 $970,000 -50.6% 1.8%
    Mr. Cooper ( Nationstar Mortgage ) $710,000 $960,000 35.2% 1.7%
    PENNYMAC LOAN SERVICES, LLC $575,000 $920,000 60.0% 1.7%
    BROKER SOLUTIONS, INC. $905,000 n/a 1.6%
    AMERISAVE MORTGAGE CORPORATION $730,000 n/a 1.3%
    LAKEVIEW LOAN SERVICING, LLC $215,000 $730,000 239.5% 1.3%
    Ally Bank $690,000 n/a 1.3%
    UNITED WHOLESALE MORTGAGE, LLC $195,000 $680,000 248.7% 1.2%
    MICHIGAN MUTUAL, INC. $250,000 $550,000 120.0% 1.0%
    21ST MORTGAGE CORPORATION $790,000 $545,000 -31.0% 1.0%
    New Mexico Bank & Trust $505,000 n/a 0.9%
    CLEARPATH LENDING $225,000 $445,000 97.8% 0.8%
    North American Savings Bank, F.S.B. $440,000 n/a 0.8%
    NAVY FEDERAL CREDIT UNION $255,000 $415,000 62.7% 0.8%
    City Bank $75,000 $410,000 446.7% 0.7%
    Barrington Bank & Trust Company, N.A. $330,000 $370,000 12.1% 0.7%
    Commerce Home Mortgage, Inc. $295,000 n/a 0.5%
    LOANPAL, LLC $455,000 $280,000 -38.5% 0.5%
    CALIBER HOME LOANS, INC. $760,000 $265,000 -65.1% 0.5%
    CHURCHILL MORTGAGE CORPORATION $260,000 n/a 0.5%
    NEWREZ LLC $115,000 $250,000 117.4% 0.5%
    PHH Mortgage Corporation $235,000 n/a 0.4%
    UNION HOME MORTGAGE CORP. $235,000 $235,000 0.0% 0.4%
    GUILD MORTGAGE COMPANY $380,000 $230,000 -39.5% 0.4%
    First Bank & Trust $85,000 $225,000 164.7% 0.4%
    JPMorgan Chase Bank $225,000 n/a 0.4%
    The Central Trust Bank $225,000 n/a 0.4%
    Wallick & Volk, Inc. $220,000 n/a 0.4%
    BOKF $175,000 $210,000 20.0% 0.4%
    VAN DYK MORTGAGE CORPORATION $190,000 n/a 0.3%
    GUARANTEED RATE, INC. $185,000 n/a 0.3%
    MOUNTAIN AMERICA $35,000 $175,000 400.0% 0.3%
    MOVEMENT MORTGAGE, LLC $175,000 n/a 0.3%
    CMG MORTGAGE, INC. $55,000 $165,000 200.0% 0.3%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $165,000 n/a 0.3%
    COUNTRYPLACE MORTGAGE, LTD. $155,000 $155,000 0.0% 0.3%
    Discover Bank $155,000 n/a 0.3%
    Manufacturers and Traders Trust Company $155,000 n/a 0.3%
    SUN WEST MORTGAGE COMPANY, INC. $155,000 n/a 0.3%
    Waterstone Mortgage Corporation $140,000 n/a 0.3%
    Armed Forces Bank $125,000 n/a 0.2%
    Citizens Bank $125,000 n/a 0.2%
    Prosperity Home Mortgage, LLC $105,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $105,000 n/a 0.2%
    VILLAGE CAPITAL & INVESTMENT LLC $95,000 $105,000 10.5% 0.2%
    MID AMERICA MORTGAGE, INC. $85,000 n/a 0.2%
    Amarillo National Bank $125,000 $75,000 -40.0% 0.1%
    NBKC BANK $490,000 $75,000 -84.7% 0.1%
    First National Bank Texas $65,000 n/a 0.1%
    PENTAGON FEDERAL CREDIT UNION $75,000 $65,000 -13.3% 0.1%
    CASTLE & COOKE MORTGAGE, LLC $45,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $45,000 n/a 0.1%

    Portales's top lender by overall market share is PRIMARY RESIDENTIAL MORTGAGE, INC., with 35.7% market share. In second place, with 9.0%, is QUICKEN LOANS, LLC, having originated $4,980,000 in loans. In third place, with 6.1%, is Mortgage Research Center, LLC, having originated $3,375,000 in loans. In third place, with 5.8%, is Bell Bank, having originated $3,185,000 in loans. In third place, with 4.2%, is FREEDOM MORTGAGE CORPORATION, having originated $2,340,000 in loans.

    Portales, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 194 $31,730,000 $163,557
    Refi 125 $19,075,000 $152,600
    Cash Out Refi 27 $3,795,000 $140,556
    Home Improvement 3 $295,000 $98,333
    Other 2 $230,000 $115,000

    Portales's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Refi, with 125 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 135 $21,585,000 $159,889
    2.5-3% 120 $20,170,000 $168,083
    <2.5% 64 $10,550,000 $164,844
    4-5% 17 $1,935,000 $113,824
    5-6% 11 $495,000 $45,000
    7-8% 3 $175,000 $58,333
    Over 8% 1 $215,000 $215,000

    During 2021, Portales's most frequently originated rate bucket was 3-4%, with 135 originations.

    Loan Sizing (Portales, NM MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 192 $28,370,000 $147,760
    $200k-400k 85 $20,755,000 $244,176
    $100,000 or less 71 $4,615,000 $65,000
    $400k-600k 3 $1,385,000 $461,667

    Portales's loan sizing saw the bucket of loans from $100k-200k with 192 originations, totaling $28,370,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 181 $31,265,000 $172,735
    60-80% 81 $11,095,000 $136,975
    Over 100% 25 $5,555,000 $222,200
    40-60% 22 $3,130,000 $142,273
    Under 20% 13 $115,000 $8,846
    20-40% 8 $850,000 $106,250

    Portales's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 181 originations, totaling $31,265,000 in origination value.

    Market Conditions (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 $144,500 (-1.7%) $153,932 (6.1%) 0.00 116
    2018-02-01 $157,000 (4.2%) $156,142 (6.1%) 0.00 113
    2018-03-01 $157,000 (5.0%) $158,683 (9.5%) 0.00 120
    2018-04-01 $155,450 (5.8%) $157,108 (11.0%) 0.00 122
    2018-05-01 $150,500 (1.4%) $153,401 (5.0%) 0.00 114
    2018-06-01 $149,000 (-0.5%) $151,305 (0.5%) 0.00 119
    2018-07-01 $152,000 (-1.0%) $152,729 (-1.1%) 0.00 124
    2018-08-01 $149,950 (-5.1%) $154,503 (-3.1%) 0.00 115
    2018-09-01 $145,000 (-7.6%) $148,329 (-12.4%) 0.00 114
    2018-10-01 $140,400 (-14.9%) $147,734 (-9.0%) 0.00 110
    2018-11-01 $145,000 (-7.6%) $147,947 (-7.6%) 0.00 111
    2018-12-01 $145,000 (-2.0%) $150,074 (-4.8%) 0.00 118
    2019-01-01 $143,500 (-0.7%) $151,522 (-1.6%) 0.00 106
    2019-02-01 $145,000 (-7.6%) $155,277 (-0.6%) 0.00 104
    2019-03-01 $141,571 (-9.8%) $154,810 (-2.4%) 0.00 98
    2019-04-01 $147,000 (-5.4%) $158,875 (1.1%) 0.00 98
    2019-05-01 $149,000 (-1.0%) $157,701 (2.8%) 0.00 93
    2019-06-01 $155,000 (4.0%) $166,420 (10.0%) 0.00 93
    2019-07-01 $158,000 (4.0%) $169,872 (11.2%) 0.00 96
    2019-08-01 $159,571 (6.4%) $171,412 (10.9%) 0.00 93
    2019-09-01 $159,000 (9.7%) $169,990 (14.6%) 0.00 92
    2019-10-01 $156,950 (11.8%) $163,881 (10.9%) 0.00 93
    2019-11-01 $149,500 (3.1%) $157,372 (6.4%) 0.00 93
    2019-12-01 $149,750 (3.3%) $158,413 (5.6%) 0.00 91
    2020-01-01 $151,000 (5.2%) $160,230 (5.8%) 0.00 86
    2020-02-01 $157,000 (8.3%) $166,066 (7.0%) 0.00 88
    2020-03-01 $155,000 (9.5%) $164,455 (6.2%) 0.00 94
    2020-04-01 $152,000 (3.4%) $156,891 (-1.3%) 0.00 85
    2020-05-01 $149,900 (0.6%) $151,785 (-3.8%) 0.00 81
    2020-06-01 $149,950 (-3.3%) $150,180 (-9.8%) 0.00 76
    2020-07-01 $140,900 (-10.8%) $144,436 (-15.0%) 0.00 71
    2020-08-01 $139,900 (-12.3%) $147,020 (-14.2%) 0.00 67
    2020-09-01 $139,700 (-12.1%) $145,800 (-14.2%) 0.00 66
    2020-10-01 $159,000 (1.3%) $159,897 (-2.4%) 0.00 70
    2020-11-01 $175,000 (17.1%) $170,876 (8.6%) 0.00 75
    2020-12-01 $178,000 (18.9%) $177,911 (12.3%) 0.00 71
    2021-01-01 $175,000 (15.9%) $176,328 (10.1%) 0.00 69
    2021-02-01 $166,950 (6.3%) $166,940 (0.5%) 0.00 72
    2021-03-01 $158,000 (1.9%) $162,693 (-1.1%) 0.00 71
    2021-04-01 $154,900 (1.9%) $164,670 (5.0%) 0.00 71
    2021-05-01 $147,000 (-1.9%) $162,032 (6.8%) 0.00 64
    2021-06-01 $149,700 (-0.2%) $166,633 (11.0%) 0.00 56
    2021-07-01 $148,000 (5.0%) $159,447 (10.4%) 0.00 57
    2021-08-01 $149,200 (6.7%) $173,415 (18.0%) 0.00 53
    2021-09-01 $164,950 (18.1%) $172,941 (18.6%) 0.00 50
    2021-10-01 $175,000 (10.1%) $176,486 (10.4%) 0.00 52
    2021-11-01 $175,000 (0.0%) $169,438 (-0.8%) 0.00 57
    2021-12-01 $159,450 (-10.4%) $163,993 (-7.8%) 0.00 46
    2022-01-01 $159,000 (-9.1%) $166,256 (-5.7%) 0.00 34
    2022-02-01 $154,000 (-7.8%) $174,759 (4.7%) 0.00 32
    2022-03-01 $154,000 (-2.5%) $180,072 (10.7%) 0.00 34
    2022-04-01 $155,000 (0.1%) $176,780 (7.4%) 0.00 32
    2022-05-01 $162,000 (10.2%) $178,529 (10.2%) 0.00 42
    Portales's median listing price for 2022-05-01 was $162,000, a difference of $15,000 (10.2%) versus the prior year and $7,000 versus the prior month.

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

    Portales's average listing price for 2022-05-01 was $178,529, a difference of $16,497 (10.2%) versus the prior year and $1,749 versus the prior month.

    For the 2022-05-01 period, Portales had 42 MLS listings, a difference of 10 listings (31%) versus the prior month and -22 listings (-34%) 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 1,754 sqft
    2018-02-01 0 days 1,761 sqft
    2018-03-01 0 days 1,756 sqft
    2018-04-01 0 days 1,746 sqft
    2018-05-01 0 days 1,744 sqft
    2018-06-01 0 days 1,753 sqft
    2018-07-01 0 days 1,741 sqft
    2018-08-01 0 days 1,769 sqft
    2018-09-01 0 days 1,769 sqft
    2018-10-01 0 days 1,776 sqft
    2018-11-01 0 days 1,768 sqft
    2018-12-01 0 days 1,768 sqft
    2019-01-01 0 days 1,810 sqft
    2019-02-01 0 days 1,827 sqft
    2019-03-01 0 days 1,829 sqft
    2019-04-01 0 days 1,816 sqft
    2019-05-01 0 days 1,751 sqft
    2019-06-01 0 days 1,784 sqft
    2019-07-01 0 days 1,841 sqft
    2019-08-01 0 days 1,892 sqft
    2019-09-01 0 days 1,892 sqft
    2019-10-01 0 days 1,902 sqft
    2019-11-01 0 days 1,860 sqft
    2019-12-01 0 days 1,847 sqft
    2020-01-01 0 days 1,892 sqft
    2020-02-01 0 days 1,860 sqft
    2020-03-01 0 days 1,847 sqft
    2020-04-01 0 days 1,801 sqft
    2020-05-01 0 days 1,697 sqft
    2020-06-01 0 days 1,697 sqft
    2020-07-01 0 days 1,718 sqft
    2020-08-01 0 days 1,664 sqft
    2020-09-01 0 days 1,664 sqft
    2020-10-01 0 days 1,819 sqft
    2020-11-01 0 days 1,800 sqft
    2020-12-01 0 days 1,861 sqft
    2021-01-01 0 days 1,875 sqft
    2021-02-01 0 days 1,875 sqft
    2021-03-01 0 days 1,821 sqft
    2021-04-01 0 days 1,791 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,767 sqft
    2021-07-01 0 days 1,697 sqft
    2021-08-01 0 days 1,697 sqft
    2021-09-01 0 days 1,724 sqft
    2021-10-01 0 days 1,823 sqft
    2021-11-01 0 days 1,804 sqft
    2021-12-01 0 days 1,782 sqft
    2022-01-01 0 days 1,826 sqft
    2022-02-01 0 days 1,719 sqft
    2022-03-01 0 days 1,801 sqft
    2022-04-01 0 days 1,784 sqft
    2022-05-01 0 days 1,757 sqft
    Portales's median listing age (time on market) for 2022-05-01 was 0 days.

    Portales's median square footage for active listings during the 2022-05-01 period was 1,757 sqft. One year prior, the average listing was 1,800 sqft.