New
Mexico Mortgage Rates;
Although the market is slowing down in New Mexico, sales of existing single family homes remain strong. Home appreciation has outperformed the national average for the fourth consecutive quarter. Price growth will slow gradually in 2007 but it remains a buoyant market for both sellers and buyers. Buyers can expect much more value for their purchases and sellers need to be more realistic in their asking prices.
Albuquerque remains the strongest market although some homes are still over prices and there is an increase in inventory. But if homes are priced correctly, buyers will be tempted. There is also an influx of buyers from Californian and Nevada who are attracted by the value offered in New Mexico.
Below are examples of rates offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.125%
15 Yr Fixed : rates from 5% to 5.875%
1 Yr ARM : rates from 5.125% to 6.75%
3/1 ARM : rates from 5% to 6.25%
5/1 ARM : rates from 5.125% to 6.25%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.625% to 6.625%
15 Yr Fixed Jumbo : rates from 5.125% to 6.5%
1 Yr ARM Jumbo : rates from 5.125% to 5.5%
3/1 ARM Jumbo : rates from 5.25% to 6.625%
5/1 ARM Jumbo : rates from 5.375% to 6.375%
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Looking for a mortgage in one of New Mexico's major cities? Click any of the cities below for more mortgage information.
Major New Mexico
Cities;
Albuquerque
Mosquero
Rio Rancho
Santa Fe
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