Portales Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Portales averaged 7.29% for the week of 2024-05-09, compared to the national average of 7.09% for the same period.

The average rate for the prior week (2024-05-02) was 7.22% and one month ago for the week of 2024-04-04, the average rate was 6.82%.

Portales's average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-05-09, the average rate was 7.39%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-05-09 7.09%
Portales 30 Year Fixed Rate 2024-05-09 7.29%
Portales 30 Year Fixed Rate Refi 2024-05-09 7.39%
Portales 15 Year Fixed Rate 2024-05-09 6.58%
Portales 15 Year Fixed Rate Refi 2024-05-09 6.58%
Portales 30 Year FHA 2024-05-09 6.69%
Portales 30 Year FHA Refi 2024-05-09 6.69%
Portales 30 Year USDA 2024-05-09 6.89%
Portales 30 Year USDA Refi 2024-05-09 6.79%
Portales 30 Year VA 2024-05-09 6.49%
Portales 30 Year VA Refi 2024-05-09 6.69%
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
Portales's median listing price for 2024-04-01 was $192,250, a difference of $-24,750 (-11.4%) versus the prior year and $5,250 versus the prior month.

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

Portales's average listing price for 2024-04-01 was $223,626, a difference of $-19,077 (-7.9%) versus the prior year and $1,757 versus the prior month.

For the 2024-04-01 period, Portales had 67 MLS listings, a difference of 4 listings (6%) versus the prior month and 21 listings (46%) 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
Portales's median listing age (time on market) for 2024-04-01 was 0 days.

Portales's median square footage for active listings during the 2024-04-01 period was 1,727 sqft. One year prior, the average listing was 1,822 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.