Satellite-based precipitation (SBP) products with global coverage have the potential to overcome the lack of information in places where there are no rain gauges to perform hydrological analyses; however, it is necessary to evaluate the reliability of the SBP products. In this study, we evaluated the performance of the Climate Prediction Center morphing technique with corrected bias (CMORPH-CRT) product in 14 sites in Mexico. The evaluation was carried out using two approaches: (1) using categorical metrics that include indicators of probability of detection (POD), false alarm rate (FAR), critical success index (CSI), and frequency bias index (FBI); and (2) through statistical indicators such as the mean absolute error (MAE), root mean square error (RMSE), relative bias (RB), and correlation coefficient (CC). The analysis was carried out with two levels of temporal aggregation: 30 min and daily. The results indicate that the CMORPH-CRT product overestimates the number of precipitation events in most cases since FBI values greater than 1 in 78.6% of analyzed stations were obtained. Also, we obtained CC values in the range of 0.018 to 0.625, which implied weak to moderate correlations, and found that in all stations, the CMORPH-CRT product overestimates the precipitation (RB > 0).