Fairfield Mortgage Rates

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Fairfield averaged 5.89% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

    The average rate for the prior week (2022-06-23) was 6.3% and one month ago for the week of 2022-05-26, the average rate was 5.49%.

    Fairfield's average rate one year ago was 3.4%.

    For refis of the same type during the week of 2022-06-30, the average rate was 5.91%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-30 5.7%
    Fairfield 30 Year Fixed Rate 2022-06-30 5.89%
    Fairfield 30 Year Fixed Rate Refi 2022-06-30 5.91%
    Fairfield 15 Year Fixed Rate 2022-06-30 5.39%
    Fairfield 15 Year Fixed Rate Refi 2022-06-30 4.88%
    Fairfield 30 Year FHA 2022-06-30 5.68%
    Fairfield 30 Year FHA Refi 2022-06-30 6.17%
    Fairfield 30 Year USDA 2022-06-30 5.57%
    Fairfield 30 Year USDA Refi 2022-06-30 5.87%
    Fairfield 30 Year VA 2022-06-30 5.84%
    Fairfield 30 Year VA Refi 2022-06-30 5.25%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Fairfield, IA.

    Fairfield Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Fairfield, IA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    IOWA BANKERS MORTGAGE CORPORATION 24 3.15% $2,339
    West Gate Bank 15 2.93% $2,093
    QUICKEN LOANS, LLC 14 3.17% $4,753
    COMMUNITY 1ST CREDIT UNION 9 3.39% $1,975
    GREENSTATE CREDIT UNION 6 3.02% $1,636
    U.S. Bank 6 2.98% $2,808
    MidWestOne Bank 6 3.17% $1,969
    GUILD MORTGAGE COMPANY 4 2.94% $2,263
    AMERISAVE MORTGAGE CORPORATION 3 3.08% $4,694
    BETTER MORTGAGE CORPORATION 3 2.79% $3,910
    Hills Bank and Trust Company 3 2.96% $1,754
    VERIDIAN CREDIT UNION 3 3.04% $1,731
    LOANDEPOT.COM, LLC 2 3.50% $4,497
    Raccoon Valley Bank 2 2.63% $2,407
    Wells Fargo Bank 2 3.19% $3,026
    Deere Employees Credit Union 1 2.25% $1,979
    COMMUNITYAMERICA 1 3.00% $2,502
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $3,710
    Collins Community Credit Union 1 3.25% $1,508
    Luana Savings Bank 1 3.13% $666
    CMG MORTGAGE, INC. 1 2.99% $3,067
    Morgan Stanley Private Bank 1 2.70% $2,503
    PENTAGON FEDERAL CREDIT UNION 1 3.13% $1,666
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $3,101
    CBI Bank & Trust 1 2.75% $1,780
    AMERICAN INTERNET MORTGAGE, INC. 1 3.00% $2,827
    Regions Bank 1 2.75% $2,675
    RESIDENTIAL BANCORP. 1 3.13% $2,215
    Serve Credit Union 1 3.13% $2,777
    CALIBER HOME LOANS, INC. 1 3.50% $6,163
    BROKER SOLUTIONS, INC. 1 3.50% $3,608
    Waterstone Mortgage Corporation 1 3.38% $6,876
    FLAT BRANCH MORTGAGE, INC. 1 3.25% $2,915
    First Home Bank 1 2.75% $5,525

    Fairfield, IA's 34 lenders originated 388 loans during 2021. The total origination value was $53,990,000, with an average loan value of $139,149.

    The top Fairfield lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with 24 loans originated. Their average total fees are $2,339, which is $246 higher than the next largest lender, West Gate Bank.

    The lowest fee Fairfield lenders (with over 10 loans originated) are West Gate Bank ($2,093), IOWA BANKERS MORTGAGE CORPORATION ($2,339), QUICKEN LOANS, LLC ($4,753), .

    The lowest rate Fairfield lenders (with over 10 loans originated) are West Gate Bank (2.93%), IOWA BANKERS MORTGAGE CORPORATION (3.15%), QUICKEN LOANS, LLC (3.17%), .

    Fairfield, IA Lender Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    Washington State Bank $10,955,000 $8,820,000 -19.5% 16.3%
    COMMUNITY 1ST CREDIT UNION $5,095,000 $5,090,000 -0.1% 9.4%
    QUICKEN LOANS, LLC $2,850,000 $4,720,000 65.6% 8.7%
    West Gate Bank $1,460,000 $4,235,000 190.1% 7.8%
    IOWA BANKERS MORTGAGE CORPORATION $2,525,000 $4,215,000 66.9% 7.8%
    MidWestOne Bank $3,920,000 $3,865,000 -1.4% 7.2%
    GREENSTATE CREDIT UNION $2,485,000 $2,225,000 -10.5% 4.1%
    U.S. Bank $1,070,000 $1,915,000 79.0% 3.5%
    Hills Bank and Trust Company $1,760,000 $1,370,000 -22.2% 2.5%
    GUILD MORTGAGE COMPANY $665,000 $1,175,000 76.7% 2.2%
    Wells Fargo Bank $775,000 $995,000 28.4% 1.8%
    Mortgage Research Center, LLC $570,000 $815,000 43.0% 1.5%
    LOANDEPOT.COM, LLC $460,000 $805,000 75.0% 1.5%
    FREEDOM MORTGAGE CORPORATION $1,235,000 $780,000 -36.8% 1.4%
    AMERISAVE MORTGAGE CORPORATION $755,000 $755,000 0.0% 1.4%
    BETTER MORTGAGE CORPORATION $565,000 n/a 1.0%
    HOME POINT FINANCIAL CORPORATION $545,000 n/a 1.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $265,000 $530,000 100.0% 1.0%
    Regions Bank $165,000 $525,000 218.2% 1.0%
    Farm Credit Mid-America, ACA $440,000 $505,000 14.8% 0.9%
    VERIDIAN CREDIT UNION $155,000 $455,000 193.5% 0.8%
    Morgan Stanley Private Bank $445,000 n/a 0.8%
    Flagstar Bank, FSB $430,000 n/a 0.8%
    BROKER SOLUTIONS, INC. $400,000 n/a 0.7%
    Raccoon Valley Bank $205,000 $330,000 61.0% 0.6%
    Chickasaw Community Bank $315,000 n/a 0.6%
    Deere Employees Credit Union $285,000 $305,000 7.0% 0.6%
    AMERICAN PACIFIC MORTGAGE CORPORATION $175,000 $280,000 60.0% 0.5%
    GUARANTEED RATE, INC. $275,000 n/a 0.5%
    NAVY FEDERAL CREDIT UNION $35,000 $270,000 671.4% 0.5%
    GSF Mortgage Corporation $275,000 $265,000 -3.6% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $260,000 n/a 0.5%
    INLANTA MORTGAGE, INC. $95,000 $250,000 163.2% 0.5%
    AMERICAN INTERNET MORTGAGE, INC. $245,000 n/a 0.5%
    CBI Bank & Trust $335,000 $240,000 -28.4% 0.4%
    PENTAGON FEDERAL CREDIT UNION $235,000 n/a 0.4%
    LAND HOME FINANCIAL SERVICES, INC. $135,000 $225,000 66.7% 0.4%
    RESIDENTIAL MORTGAGE NETWORK, INC. $165,000 $225,000 36.4% 0.4%
    COMMUNITYAMERICA $215,000 n/a 0.4%
    FOUR POINTS $205,000 n/a 0.4%
    UNITED WHOLESALE MORTGAGE, LLC $205,000 n/a 0.4%
    PLAZA HOME MORTGAGE, INC. $195,000 n/a 0.4%
    PHH Mortgage Corporation $255,000 $185,000 -27.5% 0.3%
    RESIDENTIAL BANCORP. $185,000 n/a 0.3%
    Serve Credit Union $175,000 n/a 0.3%
    Waterstone Mortgage Corporation $175,000 n/a 0.3%
    21ST MORTGAGE CORPORATION $160,000 n/a 0.3%
    Collins Community Credit Union $335,000 $160,000 -52.2% 0.3%
    CALIBER HOME LOANS, INC. $145,000 n/a 0.3%
    LAKEVIEW LOAN SERVICING, LLC $145,000 n/a 0.3%
    SIRVA MORTGAGE, INC. $145,000 n/a 0.3%
    Merchants Bank $155,000 $135,000 -12.9% 0.3%
    Northpointe Bank $135,000 n/a 0.3%
    PENNYMAC LOAN SERVICES, LLC $135,000 n/a 0.3%
    PNC Bank $135,000 n/a 0.3%
    First Midwest Bank $125,000 n/a 0.2%
    First Home Bank $115,000 n/a 0.2%
    CMG MORTGAGE, INC. $105,000 n/a 0.2%
    Fidelity Bank $105,000 n/a 0.2%
    FLAT BRANCH MORTGAGE, INC. $105,000 n/a 0.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $180,000 $105,000 -41.7% 0.2%
    Luana Savings Bank $95,000 n/a 0.2%
    NEWREZ LLC $85,000 $95,000 11.8% 0.2%
    USAA Federal Savings Bank $95,000 n/a 0.2%
    Truist Bank $85,000 n/a 0.2%
    Great Western Bank $65,000 n/a 0.1%
    RUHL MORTGAGE, LLC $55,000 n/a 0.1%

    Fairfield's top lender by overall market share is Washington State Bank, with 16.3% market share. In second place, with 9.4%, is COMMUNITY 1ST CREDIT UNION, having originated $5,090,000 in loans. In third place, with 8.7%, is QUICKEN LOANS, LLC, having originated $4,720,000 in loans. In third place, with 7.8%, is West Gate Bank, having originated $4,235,000 in loans. In third place, with 7.8%, is IOWA BANKERS MORTGAGE CORPORATION, having originated $4,215,000 in loans.

    Fairfield, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 164 $25,660,000 $156,463
    Refi 123 $16,255,000 $132,154
    Cash Out Refi 80 $10,150,000 $126,875
    Other 13 $1,495,000 $115,000
    Home Improvement 8 $430,000 $53,750

    Fairfield's most frequently cited loan purpose was Home Purchase, with 164 originations. The 2nd most popular reason was Refi, with 123 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    2.5-3% 152 $23,220,000 $152,763
    3-4% 96 $12,270,000 $127,813
    <2.5% 58 $8,030,000 $138,448
    4-5% 13 $1,125,000 $86,538
    6-7% 4 $200,000 $50,000
    5-6% 1 $45,000 $45,000
    7-8% 1 $75,000 $75,000

    During 2021, Fairfield's most frequently originated rate bucket was 2.5-3%, with 152 originations.

    Loan Sizing (Fairfield, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 185 $26,195,000 $141,595
    $100,000 or less 132 $8,050,000 $60,985
    $200k-400k 63 $15,815,000 $251,032
    $400k-600k 8 $3,930,000 $491,250

    Fairfield's loan sizing saw the bucket of loans from $100k-200k with 185 originations, totaling $26,195,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 120 $20,130,000 $167,750
    60-80% 99 $14,915,000 $150,657
    40-60% 46 $5,260,000 $114,348
    20-40% 27 $1,825,000 $67,593
    Under 20% 22 $820,000 $37,273
    Over 100% 5 $955,000 $191,000

    Fairfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 120 originations, totaling $20,130,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fairfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $133,500 (-7.1%) $207,993 (22.0%) 0.00 54
    2018-02-01 $130,750 (-6.5%) $206,721 (21.0%) 0.00 54
    2018-03-01 $139,000 (-6.7%) $218,638 (19.1%) 0.00 59
    2018-04-01 $137,800 (-11.0%) $220,107 (17.2%) 0.00 56
    2018-05-01 $187,000 (22.7%) $231,595 (17.3%) 0.00 55
    2018-06-01 $185,000 (21.3%) $221,297 (2.7%) 0.00 67
    2018-07-01 $168,500 (5.3%) $219,501 (-3.2%) 0.00 73
    2018-08-01 $157,000 (3.8%) $215,670 (-7.3%) 0.00 67
    2018-09-01 $149,000 (2.8%) $200,904 (-14.1%) 0.00 72
    2018-10-01 $146,450 (4.7%) $209,402 (-9.4%) 0.00 77
    2018-11-01 $154,000 (11.9%) $206,504 (-10.0%) 0.00 75
    2018-12-01 $145,000 (7.8%) $206,342 (-1.2%) 0.00 73
    2019-01-01 $149,250 (11.8%) $219,237 (5.4%) 0.00 67
    2019-02-01 $137,450 (5.1%) $205,215 (-0.7%) 0.00 72
    2019-03-01 $137,100 (-1.4%) $199,518 (-8.8%) 0.00 72
    2019-04-01 $142,450 (3.4%) $203,288 (-7.6%) 0.00 72
    2019-05-01 $159,250 (-14.8%) $222,393 (-4.0%) 0.00 76
    2019-06-01 $165,000 (-10.8%) $233,498 (5.5%) 0.00 75
    2019-07-01 $159,950 (-5.1%) $225,995 (3.0%) 0.00 88
    2019-08-01 $159,571 (1.6%) $221,590 (2.7%) 0.00 85
    2019-09-01 $158,000 (6.0%) $211,799 (5.4%) 0.00 82
    2019-10-01 $155,000 (5.8%) $206,839 (-1.2%) 0.00 82
    2019-11-01 $154,900 (0.6%) $203,069 (-1.7%) 0.00 84
    2019-12-01 $149,500 (3.1%) $187,660 (-9.1%) 0.00 81
    2020-01-01 $149,900 (0.4%) $192,759 (-12.1%) 0.00 78
    2020-02-01 $154,900 (12.7%) $206,049 (0.4%) 0.00 81
    2020-03-01 $149,000 (8.7%) $193,522 (-3.0%) 0.00 84
    2020-04-01 $142,500 (0.0%) $189,892 (-6.6%) 0.00 83
    2020-05-01 $147,700 (-7.3%) $199,918 (-10.1%) 0.00 78
    2020-06-01 $148,350 (-10.1%) $201,726 (-13.6%) 0.00 70
    2020-07-01 $144,000 (-10.0%) $206,219 (-8.8%) 0.00 63
    2020-08-01 $169,900 (6.5%) $229,999 (3.8%) 0.00 66
    2020-09-01 $182,200 (15.3%) $228,453 (7.9%) 0.00 60
    2020-10-01 $169,900 (9.6%) $223,878 (8.2%) 0.00 64
    2020-11-01 $174,900 (12.9%) $230,439 (13.5%) 0.00 57
    2020-12-01 $169,750 (13.6%) $234,407 (24.9%) 0.00 49
    2021-01-01 $165,000 (10.1%) $222,758 (15.6%) 0.00 36
    2021-02-01 $164,825 (6.4%) $228,279 (10.8%) 0.00 37
    2021-03-01 $165,000 (10.7%) $244,827 (26.5%) 0.00 50
    2021-04-01 $179,900 (26.3%) $269,110 (41.7%) 0.00 66
    2021-05-01 $185,000 (25.3%) $269,906 (35.0%) 0.00 61
    2021-06-01 $227,500 (53.4%) $266,702 (32.2%) 0.00 75
    2021-07-01 $210,000 (45.8%) $252,469 (22.4%) 0.00 43
    2021-08-01 $187,450 (10.3%) $231,162 (0.5%) 0.00 51
    2021-09-01 $174,900 (-4.0%) $234,932 (2.8%) 0.00 56
    2021-10-01 $207,000 (21.8%) $229,641 (2.6%) 0.00 44
    2021-11-01 $227,500 (30.1%) $242,078 (5.1%) 0.00 48
    2021-12-01 $238,900 (40.7%) $275,078 (17.4%) 0.00 52
    2022-01-01 $235,000 (42.4%) $294,560 (32.2%) 0.00 50
    2022-02-01 $214,500 (30.1%) $281,370 (23.3%) 0.00 40
    2022-03-01 $209,500 (27.0%) $277,534 (13.4%) 0.00 38
    2022-04-01 $220,000 (22.3%) $260,273 (-3.3%) 0.00 42
    2022-05-01 $181,950 (-1.7%) $261,110 (-3.3%) 0.00 48
    2022-06-01 $175,450 (-22.9%) $252,017 (-5.5%) 0.00 54
    Fairfield's median listing price for 2022-06-01 was $175,450, a difference of $-52,050 (-22.9%) versus the prior year and $-6,500 versus the prior month.

    Fairfield's median listing price comes in at 0% of the national average.

    Fairfield's average listing price for 2022-06-01 was $252,017, a difference of $-14,685 (-5.5%) versus the prior year and $-9,093 versus the prior month.

    For the 2022-06-01 period, Fairfield had 54 MLS listings, a difference of 6 listings (13%) versus the prior month and -21 listings (-28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fairfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,501 sqft
    2018-02-01 0 days 1,509 sqft
    2018-03-01 0 days 1,712 sqft
    2018-04-01 0 days 1,714 sqft
    2018-05-01 0 days 1,792 sqft
    2018-06-01 0 days 1,767 sqft
    2018-07-01 0 days 1,624 sqft
    2018-08-01 0 days 1,545 sqft
    2018-09-01 0 days 1,600 sqft
    2018-10-01 0 days 1,538 sqft
    2018-11-01 0 days 1,503 sqft
    2018-12-01 0 days 1,560 sqft
    2019-01-01 0 days 1,584 sqft
    2019-02-01 0 days 1,611 sqft
    2019-03-01 0 days 1,544 sqft
    2019-04-01 0 days 1,491 sqft
    2019-05-01 0 days 1,568 sqft
    2019-06-01 0 days 1,660 sqft
    2019-07-01 0 days 1,672 sqft
    2019-08-01 0 days 1,641 sqft
    2019-09-01 0 days 1,576 sqft
    2019-10-01 0 days 1,567 sqft
    2019-11-01 0 days 1,507 sqft
    2019-12-01 0 days 1,507 sqft
    2020-01-01 0 days 1,654 sqft
    2020-02-01 0 days 1,584 sqft
    2020-03-01 0 days 1,560 sqft
    2020-04-01 0 days 1,546 sqft
    2020-05-01 0 days 1,712 sqft
    2020-06-01 0 days 1,694 sqft
    2020-07-01 0 days 1,687 sqft
    2020-08-01 0 days 1,712 sqft
    2020-09-01 0 days 1,620 sqft
    2020-10-01 0 days 1,585 sqft
    2020-11-01 0 days 1,602 sqft
    2020-12-01 0 days 1,674 sqft
    2021-01-01 0 days 1,635 sqft
    2021-02-01 0 days 1,614 sqft
    2021-03-01 0 days 1,605 sqft
    2021-04-01 0 days 1,850 sqft
    2021-05-01 0 days 1,635 sqft
    2021-06-01 0 days 1,748 sqft
    2021-07-01 0 days 1,640 sqft
    2021-08-01 0 days 1,568 sqft
    2021-09-01 0 days 1,509 sqft
    2021-10-01 0 days 1,487 sqft
    2021-11-01 0 days 1,489 sqft
    2021-12-01 0 days 1,534 sqft
    2022-01-01 0 days 1,592 sqft
    2022-02-01 0 days 1,594 sqft
    2022-03-01 0 days 1,611 sqft
    2022-04-01 0 days 1,595 sqft
    2022-05-01 0 days 1,498 sqft
    2022-06-01 0 days 1,470 sqft
    Fairfield's median listing age (time on market) for 2022-06-01 was 0 days.

    Fairfield's median square footage for active listings during the 2022-06-01 period was 1,470 sqft. One year prior, the average listing was 1,748 sqft.