Silver City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Silver City averaged
6.37%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.27% and
one month ago for the week of 2024-09-05, the
average rate was 6.6%.
Silver City's average rate one year ago was 7.44%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.22%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
Silver City 30 Year Fixed Rate | 2024-10-10 | 6.37% |
Silver City 30 Year Fixed Rate Refi | 2024-10-10 | 6.22% |
Silver City 15 Year Fixed Rate | 2024-10-10 | 5.31% |
Silver City 15 Year Fixed Rate Refi | 2024-10-10 | 6.01% |
Silver City 30 Year FHA | 2024-10-10 | 6% |
Silver City 30 Year FHA Refi | 2024-10-10 | 5.9% |
Silver City 30 Year USDA | 2024-10-10 | 6.08% |
Silver City 30 Year USDA Refi | 2024-10-10 | 5.88% |
Silver City 30 Year VA | 2024-10-10 | 6.05% |
Silver City 30 Year VA Refi | 2024-10-10 | 5.65% |
Silver City 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 Silver City, 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.).
Silver City Average Closing Costs & Other Stats
Silver City, NM's 37 lenders originated 302
loans during 2023. The total origination value was $53,720,000, with an average loan value of
$177,881.
Silver City's average closing costs are $5,560.
The top Silver City lender as defined by loan originations is QUICKEN LOANS, LLC, with
22 loans originated. Their average total fees are
$7,252, which is $915
higher than the next largest lender,
MID AMERICA MORTGAGE, INC..
The lowest fee Silver City lenders (with over 10 loans originated) are
VAN DYK MORTGAGE CORPORATION ($5,665), MID AMERICA MORTGAGE, INC. ($6,338), QUICKEN LOANS, LLC ($7,252), .
The lowest rate Silver City lenders (with over 10 loans originated) are
VAN DYK MORTGAGE CORPORATION (6.74%), QUICKEN LOANS, LLC (6.75%), MID AMERICA MORTGAGE, INC. (6.81%), .
Silver City, 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 |
---|---|---|---|---|
QUICKEN LOANS, LLC | $9,840,000 | $8,635,000 | -12.2% | 16.1% |
GUILD MORTGAGE COMPANY | $3,090,000 | $4,850,000 | 57.0% | 9.0% |
VAN DYK MORTGAGE CORPORATION | $6,605,000 | $4,265,000 | -35.4% | 7.9% |
MID AMERICA MORTGAGE, INC. | $1,940,000 | $3,585,000 | 84.8% | 6.7% |
First American Bank | $3,120,000 | $2,165,000 | -30.6% | 4.0% |
21ST MORTGAGE CORPORATION | $2,390,000 | $2,070,000 | -13.4% | 3.9% |
UNITED WHOLESALE MORTGAGE, LLC | $1,435,000 | $1,935,000 | 34.8% | 3.6% |
MANN FINANCIAL INC. | $490,000 | $1,870,000 | 281.6% | 3.5% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $3,670,000 | $1,665,000 | -54.6% | 3.1% |
Mortgage Research Center, LLC | $1,245,000 | $1,560,000 | 25.3% | 2.9% |
NUSENDA | $15,000 | $1,080,000 | 7,100.0% | 2.0% |
AMERISAVE MORTGAGE CORPORATION | $975,000 | $1,030,000 | 5.6% | 1.9% |
CARDINAL FINANCIAL | $475,000 | $1,015,000 | 113.7% | 1.9% |
Plains Commerce Bank | $1,655,000 | $950,000 | -42.6% | 1.8% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $300,000 | $945,000 | 215.0% | 1.8% |
Waterstone Mortgage Corporation | $755,000 | $830,000 | 9.9% | 1.5% |
LOANDEPOT.COM, LLC | $2,275,000 | $750,000 | -67.0% | 1.4% |
LEADERONE FINANCIAL CORPORATION | $115,000 | $675,000 | 487.0% | 1.3% |
MUTUAL OF OMAHA MORTGAGE, INC. | $305,000 | $615,000 | 101.6% | 1.1% |
NEWREZ LLC | $715,000 | $585,000 | -18.2% | 1.1% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $350,000 | $515,000 | 47.1% | 1.0% |
Mr. Cooper ( Nationstar Mortgage ) | $425,000 | $510,000 | 20.0% | 0.9% |
U.S. Bank | $260,000 | $490,000 | 88.5% | 0.9% |
NAVY FEDERAL CREDIT UNION | $1,620,000 | $475,000 | -70.7% | 0.9% |
GUARANTEED RATE, INC. | $740,000 | $410,000 | -44.6% | 0.8% |
Century Mortgage Company DBA Century Lending Company | $310,000 | $405,000 | 30.6% | 0.8% |
Bank of Colorado | $395,000 | n/a | 0.7% | |
SANDIA LABORATORY | $390,000 | n/a | 0.7% | |
ZILLOW HOME LOANS, LLC | $165,000 | $370,000 | 124.2% | 0.7% |
Barrington Bank & Trust Company, N.A. | $350,000 | n/a | 0.7% | |
BROKER SOLUTIONS, INC. | $1,170,000 | $340,000 | -70.9% | 0.6% |
SOUTHWEST STAGE FUNDING, LLC | $75,000 | $330,000 | 340.0% | 0.6% |
NEW DAY FINANCIAL, LLC | $315,000 | n/a | 0.6% | |
USAA Federal Savings Bank | $1,450,000 | $300,000 | -79.3% | 0.6% |
Gateway First Bank | $150,000 | $295,000 | 96.7% | 0.5% |
Paramount Bank | $295,000 | n/a | 0.5% | |
Wyndham Capital Mortgage, Inc. | $285,000 | n/a | 0.5% | |
ACADEMY MORTGAGE CORPORATION | $265,000 | n/a | 0.5% | |
First Financial Credit Union | $750,000 | $255,000 | -66.0% | 0.5% |
MOUNTAIN AMERICA | $260,000 | $255,000 | -1.9% | 0.5% |
NOVA FINANCIAL & INVESTMENT CORPORATION | $65,000 | $255,000 | 292.3% | 0.5% |
PENNYMAC LOAN SERVICES, LLC | $1,075,000 | $245,000 | -77.2% | 0.5% |
S1L, Inc. | $240,000 | n/a | 0.4% | |
TIB The Independent Bankersbank | $235,000 | n/a | 0.4% | |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $225,000 | n/a | 0.4% | |
GENEVA FINANCIAL, LLC | $225,000 | n/a | 0.4% | |
JPMorgan Chase Bank | $230,000 | $225,000 | -2.2% | 0.4% |
Sunflower Bank | $215,000 | n/a | 0.4% | |
SANDIA AREA | $205,000 | n/a | 0.4% | |
The Federal Savings Bank | $225,000 | $205,000 | -8.9% | 0.4% |
HOMESIDE FINANCIAL, LLC | $195,000 | n/a | 0.4% | |
Loan Simple, Inc. | $290,000 | $195,000 | -32.8% | 0.4% |
VERITAS FUNDING, LLC | $195,000 | n/a | 0.4% | |
CMG MORTGAGE, INC. | $940,000 | $190,000 | -79.8% | 0.4% |
Wells Fargo Bank | $3,265,000 | $190,000 | -94.2% | 0.4% |
Bank of America | $65,000 | $185,000 | 184.6% | 0.3% |
UBS Bank USA | $185,000 | n/a | 0.3% | |
INTERCAP LENDING INC. | $175,000 | n/a | 0.3% | |
FREEDOM MORTGAGE CORPORATION | $665,000 | $155,000 | -76.7% | 0.3% |
Washington Federal Bank | $1,025,000 | $155,000 | -84.9% | 0.3% |
Coastal Community Bank | $145,000 | n/a | 0.3% | |
MORIA DEVELOPMENT, INC. | $255,000 | $125,000 | -51.0% | 0.2% |
CREDIT HUMAN FEDERAL CREDIT UNION | $75,000 | $115,000 | 53.3% | 0.2% |
PLAZA HOME MORTGAGE, INC. | $115,000 | n/a | 0.2% | |
LOANPAL, LLC | $1,040,000 | $105,000 | -89.9% | 0.2% |
Carrington Mortgage Services, LLC | $405,000 | $85,000 | -79.0% | 0.2% |
FINANCE OF AMERICA REVERSE LLC | $85,000 | n/a | 0.2% | |
Home Loan Investment Bank, F.S.B. | $65,000 | n/a | 0.1% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $65,000 | n/a | 0.1% | |
ROYAL UNITED MORTGAGE LLC | $65,000 | n/a | 0.1% | |
AMERICAN FINANCING CORPORATION | $145,000 | $55,000 | -62.1% | 0.1% |
Discover Bank | $155,000 | $55,000 | -64.5% | 0.1% |
Flagstar Bank, FSB | $805,000 | $55,000 | -93.2% | 0.1% |
HOMEOWNERS FINANCIAL GROUP USA, LLC | $310,000 | $55,000 | -82.3% | 0.1% |
Del Norte Credit Union | $45,000 | n/a | 0.1% | |
BOKF | $45,000 | $35,000 | -22.2% | 0.1% |
Toyota Financial Savings Bank | $35,000 | n/a | 0.1% |
Silver City's top lender by overall market share is QUICKEN LOANS, LLC, with 16.1% market share. In second place, with 9.0%, is GUILD MORTGAGE COMPANY, having originated $4,850,000 in loans. In third place, with 7.9%, is VAN DYK MORTGAGE CORPORATION, having originated $4,265,000 in loans. In fourth place, with 6.7%, is MID AMERICA MORTGAGE, INC., having originated $3,585,000 in loans. In fifth place, with 4.0%, is First American Bank, having originated $2,165,000 in loans.
Silver City Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Silver City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $203,650 (13.8%) | $273,290 (16.1%) | 0.00 | 201 |
2018-02-01 | $209,250 (13.1%) | $283,144 (17.6%) | 0.00 | 199 |
2018-03-01 | $212,750 (18.4%) | $283,335 (20.4%) | 0.00 | 206 |
2018-04-01 | $209,125 (15.6%) | $282,111 (18.9%) | 0.00 | 218 |
2018-05-01 | $212,500 (12.6%) | $286,596 (20.3%) | 0.00 | 217 |
2018-06-01 | $209,500 (10.9%) | $284,131 (16.6%) | 0.00 | 208 |
2018-07-01 | $209,750 (10.5%) | $285,756 (15.3%) | 0.00 | 215 |
2018-08-01 | $200,750 (1.4%) | $279,590 (9.8%) | 0.00 | 216 |
2018-09-01 | $199,000 (-0.4%) | $272,901 (4.6%) | 0.00 | 222 |
2018-10-01 | $199,700 (-4.2%) | $276,814 (3.2%) | 0.00 | 207 |
2018-11-01 | $219,950 (11.0%) | $283,957 (7.2%) | 0.00 | 202 |
2018-12-01 | $214,500 (2.1%) | $276,287 (1.1%) | 0.00 | 197 |
2019-01-01 | $213,250 (4.7%) | $283,460 (3.7%) | 0.00 | 188 |
2019-02-01 | $206,875 (-1.1%) | $280,170 (-1.1%) | 0.00 | 188 |
2019-03-01 | $211,857 (-0.4%) | $277,116 (-2.2%) | 0.00 | 192 |
2019-04-01 | $219,482 (5.0%) | $276,038 (-2.2%) | 0.00 | 193 |
2019-05-01 | $219,500 (3.3%) | $281,606 (-1.7%) | 0.00 | 195 |
2019-06-01 | $213,000 (1.7%) | $281,991 (-0.8%) | 0.00 | 204 |
2019-07-01 | $193,250 (-7.9%) | $272,474 (-4.7%) | 0.00 | 218 |
2019-08-01 | $198,182 (-1.3%) | $281,509 (0.7%) | 0.00 | 212 |
2019-09-01 | $199,205 (0.1%) | $285,818 (4.7%) | 0.00 | 202 |
2019-10-01 | $199,886 (0.1%) | $288,211 (4.1%) | 0.00 | 188 |
2019-11-01 | $185,000 (-15.9%) | $267,809 (-5.7%) | 0.00 | 173 |
2019-12-01 | $195,000 (-9.1%) | $277,436 (0.4%) | 0.00 | 164 |
2020-01-01 | $199,475 (-6.5%) | $289,579 (2.2%) | 0.00 | 148 |
2020-02-01 | $205,000 (-0.9%) | $309,204 (10.4%) | 0.00 | 131 |
2020-03-01 | $210,000 (-0.9%) | $309,477 (11.7%) | 0.00 | 139 |
2020-04-01 | $207,500 (-5.5%) | $301,545 (9.2%) | 0.00 | 139 |
2020-05-01 | $225,000 (2.5%) | $304,732 (8.2%) | 0.00 | 139 |
2020-06-01 | $231,450 (8.7%) | $313,832 (11.3%) | 0.00 | 130 |
2020-07-01 | $229,900 (19.0%) | $315,994 (16.0%) | 0.00 | 120 |
2020-08-01 | $228,000 (15.1%) | $322,970 (14.7%) | 0.00 | 110 |
2020-09-01 | $239,875 (20.4%) | $323,664 (13.2%) | 0.00 | 110 |
2020-10-01 | $257,450 (28.8%) | $321,007 (11.4%) | 0.00 | 108 |
2020-11-01 | $246,875 (33.5%) | $320,216 (19.6%) | 0.00 | 107 |
2020-12-01 | $242,250 (24.2%) | $321,372 (15.8%) | 0.00 | 101 |
2021-01-01 | $235,000 (17.8%) | $300,576 (3.8%) | 0.00 | 88 |
2021-02-01 | $237,250 (15.7%) | $305,358 (-1.2%) | 0.00 | 81 |
2021-03-01 | $264,875 (26.1%) | $320,395 (3.5%) | 0.00 | 74 |
2021-04-01 | $252,000 (21.5%) | $319,829 (6.1%) | 0.00 | 77 |
2021-05-01 | $259,000 (15.1%) | $350,684 (15.1%) | 0.00 | 70 |
2021-06-01 | $273,150 (18.0%) | $353,293 (12.6%) | 0.00 | 66 |
2021-07-01 | $295,000 (28.3%) | $364,367 (15.3%) | 0.00 | 70 |
2021-08-01 | $299,000 (31.1%) | $372,603 (15.4%) | 0.00 | 86 |
2021-09-01 | $299,000 (24.7%) | $369,314 (14.1%) | 0.00 | 79 |
2021-10-01 | $289,000 (12.3%) | $371,345 (15.7%) | 0.00 | 78 |
2021-11-01 | $293,125 (18.7%) | $384,821 (20.2%) | 0.00 | 79 |
2021-12-01 | $293,000 (21.0%) | $394,386 (22.7%) | 0.00 | 69 |
2022-01-01 | $299,700 (27.5%) | $441,811 (47.0%) | 0.00 | 56 |
2022-02-01 | $261,250 (10.1%) | $451,686 (47.9%) | 0.00 | 51 |
2022-03-01 | $258,750 (-2.3%) | $423,216 (32.1%) | 0.00 | 48 |
2022-04-01 | $254,500 (1.0%) | $404,266 (26.4%) | 0.00 | 58 |
2022-05-01 | $282,000 (8.9%) | $439,449 (25.3%) | 0.00 | 58 |
2022-06-01 | $328,750 (20.4%) | $590,241 (67.1%) | 0.00 | 57 |
2022-07-01 | $319,000 (8.1%) | $543,804 (49.3%) | 0.00 | 65 |
2022-08-01 | $303,000 (1.3%) | $534,637 (43.5%) | 0.00 | 65 |
2022-09-01 | $296,125 (-1.0%) | $526,230 (42.5%) | 0.00 | 73 |
2022-10-01 | $285,000 (-1.4%) | $470,119 (26.6%) | 0.00 | 85 |
2022-11-01 | $290,000 (-1.1%) | $468,901 (21.9%) | 0.00 | 86 |
2022-12-01 | $269,500 (-8.0%) | $447,451 (13.5%) | 0.00 | 83 |
2023-01-01 | $282,000 (-5.9%) | $460,921 (4.3%) | 0.00 | 79 |
2023-02-01 | $284,750 (9.0%) | $470,999 (4.3%) | 0.00 | 69 |
2023-03-01 | $289,500 (11.9%) | $500,797 (18.3%) | 0.00 | 62 |
2023-04-01 | $299,000 (17.5%) | $502,536 (24.3%) | 0.00 | 70 |
2023-05-01 | $311,000 (10.3%) | $421,391 (-4.1%) | 0.00 | 67 |
2023-06-01 | $296,500 (-9.8%) | $420,118 (-28.8%) | 0.00 | 70 |
2023-07-01 | $325,000 (1.9%) | $423,468 (-22.1%) | 0.00 | 84 |
2023-08-01 | $325,750 (7.5%) | $455,158 (-14.9%) | 0.00 | 88 |
2023-09-01 | $329,000 (11.1%) | $473,398 (-10.0%) | 0.00 | 96 |
2023-10-01 | $324,500 (13.9%) | $489,266 (4.1%) | 0.00 | 80 |
2023-11-01 | $312,500 (7.8%) | $458,263 (-2.3%) | 0.00 | 85 |
2023-12-01 | $289,500 (7.4%) | $488,362 (9.1%) | 0.00 | 74 |
2024-01-01 | $272,250 (-3.5%) | $448,017 (-2.8%) | 0.00 | 68 |
2024-02-01 | $284,250 (-0.2%) | $445,462 (-5.4%) | 0.00 | 72 |
2024-03-01 | $289,000 (-0.2%) | $454,530 (-9.2%) | 0.00 | 79 |
2024-04-01 | $279,750 (-6.4%) | $461,110 (-8.2%) | 0.00 | 90 |
2024-05-01 | $344,500 (10.8%) | $465,436 (10.5%) | 0.00 | 100 |
2024-06-01 | $349,000 (17.7%) | $482,986 (15.0%) | 0.00 | 109 |
2024-07-01 | $349,000 (7.4%) | $465,592 (10.0%) | 0.00 | 112 |
2024-08-01 | $330,000 (1.3%) | $442,612 (-2.8%) | 0.00 | 113 |
2024-09-01 | $315,250 (-4.2%) | $411,559 (-13.1%) | 0.00 | 117 |
Silver City's median listing price comes in at 0% of the national average.
Silver City's average listing price for 2024-09-01 was $411,559, a difference of $-61,839 (-13.1%) versus the prior year and $-31,053 versus the prior month.
For the 2024-09-01 period, Silver City had 117 MLS listings, a difference of 4 listings (4%) versus the prior month and 21 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Silver City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,976 sqft |
2018-02-01 | 0 days | 2,000 sqft |
2018-03-01 | 0 days | 2,000 sqft |
2018-04-01 | 0 days | 2,003 sqft |
2018-05-01 | 0 days | 2,000 sqft |
2018-06-01 | 0 days | 1,962 sqft |
2018-07-01 | 0 days | 1,972 sqft |
2018-08-01 | 0 days | 1,912 sqft |
2018-09-01 | 0 days | 1,913 sqft |
2018-10-01 | 0 days | 1,891 sqft |
2018-11-01 | 0 days | 1,920 sqft |
2018-12-01 | 0 days | 1,884 sqft |
2019-01-01 | 0 days | 1,870 sqft |
2019-02-01 | 0 days | 1,832 sqft |
2019-03-01 | 0 days | 1,833 sqft |
2019-04-01 | 0 days | 1,819 sqft |
2019-05-01 | 0 days | 1,917 sqft |
2019-06-01 | 0 days | 1,814 sqft |
2019-07-01 | 0 days | 1,782 sqft |
2019-08-01 | 0 days | 1,784 sqft |
2019-09-01 | 0 days | 1,784 sqft |
2019-10-01 | 0 days | 1,784 sqft |
2019-11-01 | 0 days | 1,746 sqft |
2019-12-01 | 0 days | 1,822 sqft |
2020-01-01 | 0 days | 1,796 sqft |
2020-02-01 | 0 days | 1,758 sqft |
2020-03-01 | 0 days | 1,743 sqft |
2020-04-01 | 0 days | 1,807 sqft |
2020-05-01 | 0 days | 1,850 sqft |
2020-06-01 | 0 days | 1,912 sqft |
2020-07-01 | 0 days | 1,969 sqft |
2020-08-01 | 0 days | 2,024 sqft |
2020-09-01 | 0 days | 2,002 sqft |
2020-10-01 | 0 days | 2,031 sqft |
2020-11-01 | 0 days | 2,031 sqft |
2020-12-01 | 0 days | 2,013 sqft |
2021-01-01 | 0 days | 1,842 sqft |
2021-02-01 | 0 days | 1,830 sqft |
2021-03-01 | 0 days | 1,847 sqft |
2021-04-01 | 0 days | 1,800 sqft |
2021-05-01 | 0 days | 1,800 sqft |
2021-06-01 | 0 days | 1,760 sqft |
2021-07-01 | 0 days | 1,781 sqft |
2021-08-01 | 0 days | 1,817 sqft |
2021-09-01 | 0 days | 1,886 sqft |
2021-10-01 | 0 days | 1,860 sqft |
2021-11-01 | 0 days | 1,809 sqft |
2021-12-01 | 0 days | 1,817 sqft |
2022-01-01 | 0 days | 1,840 sqft |
2022-02-01 | 0 days | 1,763 sqft |
2022-03-01 | 0 days | 1,762 sqft |
2022-04-01 | 0 days | 1,708 sqft |
2022-05-01 | 0 days | 1,831 sqft |
2022-06-01 | 0 days | 1,914 sqft |
2022-07-01 | 0 days | 1,961 sqft |
2022-08-01 | 0 days | 1,895 sqft |
2022-09-01 | 0 days | 1,697 sqft |
2022-10-01 | 0 days | 1,654 sqft |
2022-11-01 | 0 days | 1,694 sqft |
2022-12-01 | 0 days | 1,659 sqft |
2023-01-01 | 0 days | 1,890 sqft |
2023-02-01 | 0 days | 1,823 sqft |
2023-03-01 | 0 days | 1,895 sqft |
2023-04-01 | 0 days | 1,856 sqft |
2023-05-01 | 0 days | 1,933 sqft |
2023-06-01 | 0 days | 1,862 sqft |
2023-07-01 | 0 days | 1,861 sqft |
2023-08-01 | 0 days | 1,859 sqft |
2023-09-01 | 0 days | 1,853 sqft |
2023-10-01 | 0 days | 1,853 sqft |
2023-11-01 | 0 days | 1,752 sqft |
2023-12-01 | 0 days | 1,749 sqft |
2024-01-01 | 0 days | 1,593 sqft |
2024-02-01 | 0 days | 1,706 sqft |
2024-03-01 | 0 days | 1,792 sqft |
2024-04-01 | 0 days | 1,797 sqft |
2024-05-01 | 0 days | 1,811 sqft |
2024-06-01 | 0 days | 1,821 sqft |
2024-07-01 | 0 days | 1,777 sqft |
2024-08-01 | 0 days | 1,690 sqft |
2024-09-01 | 0 days | 1,701 sqft |
Silver City's median square footage for active listings during the 2024-09-01 period was 1,701 sqft. One year prior, the average listing was 1,853 sqft.
Silver City, NM Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 212 | $40,840,000 | $192,642 |
Cash Out Refi | 49 | $9,105,000 | $185,816 |
Other | 18 | $1,310,000 | $72,778 |
Refi | 17 | $2,065,000 | $121,471 |
Home Improvement | 6 | $400,000 | $66,667 |
Silver City's most frequently cited loan purpose was Home Purchase, with 212 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 105 | $21,145,000 | $201,381 |
7-8% | 82 | $15,990,000 | $195,000 |
5-6% | 58 | $10,720,000 | $184,828 |
Over 8% | 51 | $4,795,000 | $94,020 |
4-5% | 2 | $630,000 | $315,000 |
2.5-3% | 2 | $230,000 | $115,000 |
<2.5% | 1 | $5,000 | $5,000 |
During 2023, Silver City's most frequently originated rate bucket was 6-7%, with 105 originations.
Loan Sizing (Silver City, NM MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 113 | $17,335,000 | $153,407 |
$200k-400k | 106 | $27,370,000 | $258,208 |
$100,000 or less | 72 | $3,800,000 | $52,778 |
$400k-600k | 10 | $4,540,000 | $454,000 |
$600k-1000k | 1 | $675,000 | $675,000 |
Silver City's loan sizing saw the bucket of loans from $100k-200k with 113 originations, totaling $17,335,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 164 | $35,030,000 | $213,598 |
60-80% | 54 | $11,180,000 | $207,037 |
Under 20% | 29 | $815,000 | $28,103 |
20-40% | 26 | $2,440,000 | $93,846 |
40-60% | 24 | $3,320,000 | $138,333 |
Over 100% | 3 | $685,000 | $228,333 |
Silver City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 164 originations, totaling $35,030,000 in origination value.