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New Mexico

Current New Mexico Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in New Mexico. Review free, personalized mortgage rates for New Mexico based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in New Mexico. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates for New Mexico as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's New Mexico Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in New Mexico is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
New Mexico Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in New Mexico?

The median home value for New Mexico is $181,643

The median household income for New Mexico is $49,017

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in New Mexico is $33,701

The home price you can afford to buy based on household income in New Mexico is 145% of the median home value which means housing prices are average. New Mexico ranks 26 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in New Mexico is average

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Additional Mortgage Resources for New Mexico Residents

Mortgage Rates for New Mexico Cities

Albuquerque Mortgage Rates

Belen Mortgage Rates

Bernalillo Mortgage Rates

Farmington Mortgage Rates

Las Cruces Mortgage Rates

Santa Fe Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

FREEandCLEAR Housing Affordability Index