Fairfield Mortgage Rates
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% |
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.).
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. LouisDate | 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 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. LouisDate | 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 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.