Fairfield Mortgage Rates

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.