Ruidoso Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ruidoso averaged
7.07%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.8% and
one month ago for the week of 2023-02-09, the
average rate was 6.59%.
Ruidoso's average rate one year ago was 3.41%.
For refis of the same type during the week of 2023-03-16, the average rate
was 7.13%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
| Ruidoso 30 Year Fixed Rate | 2023-03-16 | 7.07% |
| Ruidoso 30 Year Fixed Rate Refi | 2023-03-16 | 7.13% |
| Ruidoso 15 Year Fixed Rate | 2023-03-16 | 6.78% |
| Ruidoso 15 Year Fixed Rate Refi | 2023-03-16 | 6.71% |
| Ruidoso 30 Year FHA | 2023-03-16 | 6.4% |
| Ruidoso 30 Year FHA Refi | 2023-03-16 | 6.06% |
| Ruidoso 30 Year USDA | 2023-03-16 | 6.28% |
| Ruidoso 30 Year USDA Refi | 2023-03-16 | 4.52% |
| Ruidoso 30 Year VA | 2023-03-16 | 6.28% |
| Ruidoso 30 Year VA Refi | 2023-03-16 | 5.7% |
Ruidoso 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 Ruidoso, 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.).
Ruidoso Average Closing Costs & Other Stats
Ruidoso, NM's 97 lenders originated 652
loans during 2022. The total origination value was $165,590,000, with an average loan value of
$253,972.
Ruidoso's average closing costs are $4,589.
The top Ruidoso lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
63 loans originated. Their average total fees are
$5,115, which is $853
lower than the next largest lender,
City Bank.
The lowest fee Ruidoso lenders (with over 10 loans originated) are
First American Bank ($3,509), Century Mortgage Company DBA Century Lending Company ($4,162), Flagstar Bank, FSB ($4,914), UNITED WHOLESALE MORTGAGE, LLC ($5,115) and City Bank ($5,968).
The lowest rate Ruidoso lenders (with over 10 loans originated) are
Flagstar Bank, FSB (4.54%), UNITED WHOLESALE MORTGAGE, LLC (4.84%), City Bank (4.98%), First American Bank (5.00%) and QUICKEN LOANS, LLC (5.07%).
Ruidoso, 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $22,260,000 | $22,865,000 | 2.7% | 13.8% |
| City Bank | $28,575,000 | $20,885,000 | -26.9% | 12.6% |
| QUICKEN LOANS, LLC | $18,365,000 | $8,270,000 | -55.0% | 5.0% |
| Century Mortgage Company DBA Century Lending Company | $5,830,000 | $7,005,000 | 20.2% | 4.2% |
| First American Bank | $6,915,000 | $6,815,000 | -1.4% | 4.1% |
| Flagstar Bank, FSB | $27,755,000 | $6,800,000 | -75.5% | 4.1% |
| Wells Fargo Bank | $9,170,000 | $3,775,000 | -58.8% | 2.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,385,000 | $3,630,000 | 162.1% | 2.2% |
| Washington Federal Bank | $1,890,000 | $3,050,000 | 61.4% | 1.8% |
| Mortgage Research Center, LLC | $2,760,000 | $2,885,000 | 4.5% | 1.7% |
| Gateway First Bank | $835,000 | $2,515,000 | 201.2% | 1.5% |
| JPMorgan Chase Bank | $4,845,000 | $2,185,000 | -54.9% | 1.3% |
| First Bank & Trust | $1,365,000 | $1,950,000 | 42.9% | 1.2% |
| LAKEVIEW LOAN SERVICING, LLC | $445,000 | $1,945,000 | 337.1% | 1.2% |
| 21ST MORTGAGE CORPORATION | $1,245,000 | $1,930,000 | 55.0% | 1.2% |
| BROKER SOLUTIONS, INC. | $11,635,000 | $1,690,000 | -85.5% | 1.0% |
| First Financial Bank | $2,110,000 | $1,660,000 | -21.3% | 1.0% |
| PENTAGON FEDERAL CREDIT UNION | $185,000 | $1,530,000 | 727.0% | 0.9% |
| U.S. Bank | $560,000 | $1,525,000 | 172.3% | 0.9% |
| AMCAP MORTGAGE, LTD. | $2,545,000 | $1,520,000 | -40.3% | 0.9% |
| TEXAS TECH | $1,175,000 | $1,490,000 | 26.8% | 0.9% |
| LOANDEPOT.COM, LLC | $3,465,000 | $1,435,000 | -58.6% | 0.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,130,000 | $1,380,000 | -35.2% | 0.8% |
| Sunflower Bank | $315,000 | $1,325,000 | 320.6% | 0.8% |
| Waterstone Mortgage Corporation | $3,060,000 | $1,320,000 | -56.9% | 0.8% |
| LEGACY MORTGAGE LLC | $1,300,000 | $1,310,000 | 0.8% | 0.8% |
| First Savings Bank | $545,000 | $1,300,000 | 138.5% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $490,000 | $1,260,000 | 157.1% | 0.8% |
| AMERISAVE MORTGAGE CORPORATION | $2,285,000 | $1,050,000 | -54.0% | 0.6% |
| Citizens Bank of Las Cruces | $1,425,000 | $990,000 | -30.5% | 0.6% |
| PNC Bank | $635,000 | $970,000 | 52.8% | 0.6% |
| Bank of America | $2,400,000 | $960,000 | -60.0% | 0.6% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $65,000 | $905,000 | 1,292.3% | 0.5% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,670,000 | $875,000 | -47.6% | 0.5% |
| PENNYMAC LOAN SERVICES, LLC | $1,830,000 | $870,000 | -52.5% | 0.5% |
| First National Bank Texas | $855,000 | n/a | 0.5% | |
| The Jacksboro National Bank | $850,000 | n/a | 0.5% | |
| American Bank, N.A. | $845,000 | n/a | 0.5% | |
| NBKC BANK | $460,000 | $835,000 | 81.5% | 0.5% |
| THRIVE MORTGAGE, LLC | $835,000 | n/a | 0.5% | |
| SUN WEST MORTGAGE COMPANY, INC. | $955,000 | $780,000 | -18.3% | 0.5% |
| LRS FINANCIAL NETWORK, INC. | $1,835,000 | $775,000 | -57.8% | 0.5% |
| MID AMERICA MORTGAGE, INC. | $295,000 | $775,000 | 162.7% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,695,000 | $775,000 | -54.3% | 0.5% |
| Amarillo National Bank | $665,000 | $760,000 | 14.3% | 0.5% |
| GECU | $740,000 | n/a | 0.4% | |
| FIRST NATIONAL BANK OF WEATHERFORD | $375,000 | $735,000 | 96.0% | 0.4% |
| The First National Bank of Sonora | $720,000 | n/a | 0.4% | |
| Carrington Mortgage Services, LLC | $350,000 | $700,000 | 100.0% | 0.4% |
| GUILD MORTGAGE COMPANY | $300,000 | $690,000 | 130.0% | 0.4% |
| Vista Bank | $685,000 | n/a | 0.4% | |
| KELLER MORTGAGE, LLC | $530,000 | $640,000 | 20.8% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $4,205,000 | $630,000 | -85.0% | 0.4% |
| ZILLOW HOME LOANS, LLC | $365,000 | $620,000 | 69.9% | 0.4% |
| Texas Regional Bank | $615,000 | n/a | 0.4% | |
| Community National Bank | $2,240,000 | $610,000 | -72.8% | 0.4% |
| ANGEL OAK HOME LOANS LLC | $505,000 | $600,000 | 18.8% | 0.4% |
| CALIBER HOME LOANS, INC. | $8,205,000 | $590,000 | -92.8% | 0.4% |
| NEWREZ LLC | $1,345,000 | $575,000 | -57.2% | 0.3% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,585,000 | $575,000 | -63.7% | 0.3% |
| First National Bank | $570,000 | n/a | 0.3% | |
| Raymond James Bank | $565,000 | n/a | 0.3% | |
| F & M Bank | $545,000 | n/a | 0.3% | |
| GUARANTEED RATE, INC. | $865,000 | $545,000 | -37.0% | 0.3% |
| KeyBank | $195,000 | $545,000 | 179.5% | 0.3% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $310,000 | $510,000 | 64.5% | 0.3% |
| NUSENDA | $500,000 | n/a | 0.3% | |
| UNION HOME MORTGAGE CORP. | $500,000 | n/a | 0.3% | |
| Commerce Home Mortgage, Inc. | $650,000 | $490,000 | -24.6% | 0.3% |
| Independent Bank | $475,000 | n/a | 0.3% | |
| Broadway National Bank | $465,000 | n/a | 0.3% | |
| Prosperity Home Mortgage, LLC | $440,000 | n/a | 0.3% | |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $435,000 | n/a | 0.3% | |
| ASPIRE FINANCIAL, INC. | $430,000 | n/a | 0.3% | |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $665,000 | $425,000 | -36.1% | 0.3% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $180,000 | $425,000 | 136.1% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $175,000 | $420,000 | 140.0% | 0.3% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $345,000 | $415,000 | 20.3% | 0.3% |
| MANN FINANCIAL INC. | $410,000 | n/a | 0.2% | |
| GREAT WESTERN FINANCIAL SERVICES, INC. | $385,000 | n/a | 0.2% | |
| Operating Engineers Local Union #3 | $385,000 | n/a | 0.2% | |
| Pioneer Bank | $1,900,000 | $380,000 | -80.0% | 0.2% |
| Alliance Bank Central Texas | $375,000 | n/a | 0.2% | |
| American Airlines Federal Credit Union | $315,000 | $375,000 | 19.0% | 0.2% |
| Town Square Mortgage & Investments, Inc. | $375,000 | n/a | 0.2% | |
| Western Bank | $185,000 | $375,000 | 102.7% | 0.2% |
| Morgan Stanley Private Bank | $1,490,000 | $355,000 | -76.2% | 0.2% |
| West Texas National Bank | $355,000 | n/a | 0.2% | |
| North American Savings Bank, F.S.B. | $165,000 | $335,000 | 103.0% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $230,000 | $325,000 | 41.3% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $275,000 | $320,000 | 16.4% | 0.2% |
| USAA Federal Savings Bank | $730,000 | $310,000 | -57.5% | 0.2% |
| Citizens Bank | $385,000 | $305,000 | -20.8% | 0.2% |
| Discover Bank | $305,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $660,000 | $305,000 | -53.8% | 0.2% |
| ACADEMY MORTGAGE CORPORATION | $205,000 | $295,000 | 43.9% | 0.2% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $295,000 | n/a | 0.2% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $125,000 | $285,000 | 128.0% | 0.2% |
| NATIONS RELIABLE LENDING, LLC | $285,000 | n/a | 0.2% | |
| Pinnacle Bank | $285,000 | n/a | 0.2% | |
| RESIDENTIAL BANCORP. | $285,000 | n/a | 0.2% | |
| First New Mexico Bank, Las Cruces | $105,000 | $275,000 | 161.9% | 0.2% |
| NEW DAY FINANCIAL, LLC | $820,000 | $275,000 | -66.5% | 0.2% |
| DRAPER AND KRAMER MORTGAGE CORP. | $195,000 | $265,000 | 35.9% | 0.2% |
| FINANCE OF AMERICA MORTGAGE LLC | $565,000 | $265,000 | -53.1% | 0.2% |
| First United Bank | $730,000 | $265,000 | -63.7% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $195,000 | $265,000 | 35.9% | 0.2% |
| CMG MORTGAGE, INC. | $410,000 | $255,000 | -37.8% | 0.2% |
| HOMEXPRESS MORTGAGE CORP. | $255,000 | n/a | 0.2% | |
| Southwest Bank | $145,000 | $255,000 | 75.9% | 0.2% |
| The First National Bank of Albany | $255,000 | n/a | 0.2% | |
| CHEVRON | $250,000 | n/a | 0.2% | |
| Alliance Credit Union | $245,000 | n/a | 0.1% | |
| First Bank | $245,000 | n/a | 0.1% | |
| First United Bank and Trust Company | $1,040,000 | $245,000 | -76.4% | 0.1% |
| Nations Lending Corporation | $770,000 | $235,000 | -69.5% | 0.1% |
| V.I.P. MORTGAGE, INC. | $700,000 | $235,000 | -66.4% | 0.1% |
| EASTMAN | $225,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $125,000 | $225,000 | 80.0% | 0.1% |
| The Federal Savings Bank | $1,235,000 | $225,000 | -81.8% | 0.1% |
| American Bank of Commerce | $215,000 | n/a | 0.1% | |
| First Internet Bank of Indiana | $240,000 | $215,000 | -10.4% | 0.1% |
| BOKF | $655,000 | $205,000 | -68.7% | 0.1% |
| Prosperity Bank | $1,285,000 | $205,000 | -84.0% | 0.1% |
| AMERICAN ADVISORS GROUP | $65,000 | $200,000 | 207.7% | 0.1% |
| BAY EQUITY LLC | $330,000 | $195,000 | -40.9% | 0.1% |
| DHI MORTGAGE COMPANY, LTD. | $185,000 | n/a | 0.1% | |
| Fidelity Bank | $185,000 | n/a | 0.1% | |
| MORIA DEVELOPMENT, INC. | $185,000 | n/a | 0.1% | |
| SECURITY SERVICE | $185,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $175,000 | n/a | 0.1% | |
| First Midwest Bank | $165,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $165,000 | n/a | 0.1% | |
| SANDIA LABORATORY | $155,000 | n/a | 0.1% | |
| Ally Bank | $285,000 | $135,000 | -52.6% | 0.1% |
| CORNERSTONE HOME LENDING, INC. | $985,000 | $135,000 | -86.3% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $135,000 | n/a | 0.1% | |
| SECURITYNATIONAL MORTGAGE COMPANY | $145,000 | $135,000 | -6.9% | 0.1% |
| BNC National Bank | $125,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
| First Guaranty Mortgage Corporation | $125,000 | n/a | 0.1% | |
| S1L, Inc. | $125,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $185,000 | $115,000 | -37.8% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $165,000 | $100,000 | -39.4% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $410,000 | $95,000 | -76.8% | 0.1% |
| SIWELL, INC. | $400,000 | $95,000 | -76.3% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $95,000 | n/a | 0.1% | |
| COUNTRYPLACE MORTGAGE, LTD. | $85,000 | n/a | 0.1% | |
| Colonial Savings, F.A. | $195,000 | $75,000 | -61.5% | 0.0% |
| InterBank | $45,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $45,000 | n/a | 0.0% | |
| Great Plains National Bank | $35,000 | n/a | 0.0% |
Ruidoso's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 13.8% market share. In second place, with 12.6%, is City Bank, having originated $20,885,000 in loans. In third place, with 5.0%, is QUICKEN LOANS, LLC, having originated $8,270,000 in loans. In fourth place, with 4.2%, is Century Mortgage Company DBA Century Lending Company, having originated $7,005,000 in loans. In fifth place, with 4.1%, is First American Bank, having originated $6,815,000 in loans.
Ruidoso, NM Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 464 | $125,800,000 | $271,121 |
| Cash Out Refi | 90 | $19,120,000 | $212,444 |
| Refi | 72 | $15,920,000 | $221,111 |
| Other | 15 | $3,515,000 | $234,333 |
| Home Improvement | 11 | $1,235,000 | $112,273 |
Ruidoso's most frequently cited loan purpose was Home Purchase, with 464 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 151 | $40,645,000 | $269,172 |
| 4-5% | 148 | $41,380,000 | $279,595 |
| 5-6% | 129 | $29,095,000 | $225,543 |
| 6-7% | 113 | $28,895,000 | $255,708 |
| 2.5-3% | 39 | $9,785,000 | $250,897 |
| 7-8% | 24 | $5,080,000 | $211,667 |
| <2.5% | 12 | $1,920,000 | $160,000 |
| Over 8% | 11 | $1,035,000 | $94,091 |
During 2022, Ruidoso's most frequently originated rate bucket was 3-4%, with 151 originations.
Loan Sizing (Ruidoso, NM MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 288 | $81,580,000 | $283,264 |
| $100k-200k | 210 | $32,730,000 | $155,857 |
| $100,000 or less | 72 | $4,940,000 | $68,611 |
| $400k-600k | 53 | $24,975,000 | $471,226 |
| $600k-1000k | 27 | $18,765,000 | $695,000 |
| $Over $1MM | 2 | $2,600,000 | $1,300,000 |
Ruidoso's loan sizing saw the bucket of loans from $200k-400k with 288 originations, totaling $81,580,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 239 | $63,195,000 | $264,414 |
| 60-80% | 234 | $67,300,000 | $287,607 |
| 40-60% | 92 | $19,640,000 | $213,478 |
| 20-40% | 40 | $5,780,000 | $144,500 |
| Under 20% | 16 | $1,120,000 | $70,000 |
| Over 100% | 3 | $585,000 | $195,000 |
Ruidoso's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 239 originations, totaling $63,195,000 in origination value.