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Purpose: State: Loan Amount: Loan Type: Points:
$ GO
Institution Payments Rates Apr Points Fees Last Update   Phone – A Direct Lender $1140.13 3.625% 3.754% 0.789% $1950.00 10/07/2011 – A Direct Lender $1157.79 3.750% 3.814% 0.000% $1950.00 10/07/2011 – A Direct Lender $1122.61 3.500% 3.703% 1.697% $1950.00 10/07/2011
Data provided by Informa Research Services click here for details

Current Mortgage Rates

Anyone considering the purchase of a home in the Southwest should take an interest in New Mexico Mortgage Rates. The current housing market in Albuquerque and Santa Fe makes low mortgage rates timely.

Albuquerque is the state’s largest city and its metropolitan area offers a broad selection of homes. Homes here have an average list price of $189,900. Buyers interested in a variable rate mortgage should note that a 5/1 adjustable rate mortgage can range from 2.72 to 3.34 percent APR.

The state capital of Santa Fe features homes with an average list price of $357,000. Like Albuquerque, the lowest rate available for a 5/1 ARM is 2.72 percent. A 7/1 ARM is also available with rates of 2.93 to 3.33 percent APR. Compared to the national rate of 3.27 percent, buyers in Santa Fe are able to access lower rates.

Other cities in the state offer attractive New Mexico Mortgage Rates as well. For instance, Las Cruces is another location with a 7/1 ARM as low as 2.93 percent. The average list price of homes in Las Cruces is just $189,000, a relative bargain when contrasted with Santa Fe.

Carlsbad, famous for the nearby Carlsbad Caverns National Park, is another affordable area. $138,000 is the average list price of homes in the Carlsbad area. A 15-year fixed mortgage can range from 3.33 to 3.95 percent APR.

Silver City is the site of Western New Mexico University. Home prices there have risen slightly, with an average list price of $194,000. Buyers here can also find a 15-year fixed mortgage for as low as 3.33 percent, while the national average is 3.63 percent.

The Raton-Mosquero area has 15-year fixed mortgages that range from 3.33 to 3.95 percent APR. 30-year fixed mortgages are offered, too. These can range from 4.10 to 4.58 percent APR. Nationally, the rate for a 30-year fixed mortgage is 4.41 percent.

Los Alamos has homes with an average list price of $299,000, making it one of the more expensive areas in the state. Buyers can obtain 30-year fixed mortgages for as low as 4.10 percent. This rate is available in the Albuquerque metropolitan area, too.

Taking advantage of New Mexico Mortgage Rates can steer first-time buyers to their ideal homes. A variety of low mortgage rates makes home ownership a possibility in Albuquerque, Santa Fe and other regions of the Land of Enchantment.

4.25% 30 Year Fixed Rate
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