New Mexico Mortgage and Refinance Rates

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Current New Mexico Mortgage Rates

Average market rates for July 25, 2024 in New Mexico are 6.85% for 30-year fixed purchase and 6.95% for 30-year fixed refinance

ProductRateAPR
30-year Fixed Purchase6.85%6.88%
30-year Fixed Refinance6.95%6.99%
Rates based on market averages as of Jul 25, 2024.
ProductRateAPR
30-year Fixed Purchase6.85%6.88%
30-year Fixed Refinance6.95%6.99%
Rates based on market averages as of Jul 25, 2024.

New Mexico Purchase Rates

ProductRateAPR
15-year Fixed Purchase5.95%6.00%
15-year Fixed Jumbo Purchase6.36%6.38%
30-year Fixed Purchase6.85%6.88%
30-year Fixed Jumbo Purchase7.28%7.31%
Rates based on market averages as of Jul 25, 2024.

New Mexico Refinance Rates

ProductRateAPR
15-year Fixed Refinance5.95%6.00%
15-year Fixed Jumbo Refinance6.37%6.39%
30-year Fixed Refinance6.95%6.99%
30-year Fixed Jumbo Refinance7.29%7.31%
Rates based on market averages as of Jul 25, 2024.

New Mexico ARM Rates

ProductRateAPR
5/6 Arm (purchase)7.08%7.12%
5/6 Arm (refinance)7.20%7.24%
5/6 Jumbo Arm (purchase)6.48%6.48%
5/6 Jumbo Arm (refinance)6.51%6.52%
Rates based on market averages as of Jul 25, 2024.

How we source rates and rate trends

Most Common Mortgage Types in New Mexico

  • Conventional: 15,966 loans
  • FHA: 4,807 loans
  • USDA: 223 loans
  • VA: 3,637 loans

Top Purchase Lenders in New Mexico by Volume

  • Waterstone Mortgage Corporation: 2,086 loans
  • Primary Residential Mortgage, Inc.: 1,253 loans
  • Rocket Mortgage, LLC: 1,061 loans
  • Legacy Mortgage LLC: 1,060 loans
  • Mortgage Research Center, LLC: 793 loans
  • 21st Mortgage Corporation: 732 loans
  • Bokf: 685 loans
  • Finance Of America Mortgage LLC: 510 loans
  • Guild Mortgage Company LLC: 495 loans
  • Academy Mortgage Corporation: 474 loans

Top Refinance Lenders in New Mexico by Volume

  • Rocket Mortgage, LLC: 431 loans
  • Nusenda: 324 loans
  • Wells Fargo Bank: 154 loans
  • Freedom Mortgage Corporation: 144 loans
  • Pennymac Loan Services, LLC: 143 loans
  • Loandepot.com, LLC: 138 loans
  • Nationstar Mortgage LLC: 120 loans
  • Kirtland Federal Credit Union: 119 loans
  • State Employees: 117 loans
  • American Advisors Group: 115 loans

Top Cash-Out Refinance Lenders in New Mexico by Volume

  • Rocket Mortgage, LLC: 1,728 loans
  • Loandepot.com, LLC: 551 loans
  • Nationstar Mortgage LLC: 358 loans
  • Freedom Mortgage Corporation: 297 loans
  • Wells Fargo Bank: 290 loans
  • Amerisave Mortgage Corporation: 208 loans
  • Goodleap, LLC: 207 loans
  • Pennymac Loan Services, LLC: 199 loans
  • Sandia Laboratory: 186 loans
  • Nusenda: 140 loans

How we source lender data

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