Fairfield Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Fairfield averaged 7% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.68% and one month ago for the week of 2024-03-14, the average rate was 6.94%.

    Fairfield's average rate one year ago was 6.27%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.2%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Fairfield 30 Year Fixed Rate 2024-04-18 7%
    Fairfield 30 Year Fixed Rate Refi 2024-04-18 7.2%
    Fairfield 15 Year Fixed Rate 2024-04-18 6.59%
    Fairfield 15 Year Fixed Rate Refi 2024-04-18 6.89%
    Fairfield 30 Year FHA 2024-04-18 6.96%
    Fairfield 30 Year FHA Refi 2024-04-18 6.66%
    Fairfield 30 Year USDA 2024-04-18 6.76%
    Fairfield 30 Year USDA Refi 2024-04-18 6.96%
    Fairfield 30 Year VA 2024-04-18 6.56%
    Fairfield 30 Year VA Refi 2024-04-18 6.86%
    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 lender, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    COMMUNITY 1ST CREDIT UNION 15 6.01% $2,284
    QUICKEN LOANS, LLC 7 6.77% $6,401
    IOWA BANKERS MORTGAGE CORPORATION 4 6.31% $3,318
    MidWestOne Bank 4 6.53% $4,580
    U.S. Bank 3 6.79% $3,098
    USAA Federal Savings Bank 2 6.94% $4,530
    West Gate Bank 2 6.38% $2,541
    First National Bank of Omaha 1 6.88% $4,066
    Fortress Bank 1 5.50% $2,201
    GREENSTATE CREDIT UNION 1 5.75% $2,567
    Hills Bank and Trust Company 1 6.00% $1,845
    Ally Bank 1 8.00% $2,119
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $6,444
    PENNYMAC LOAN SERVICES, LLC 1 5.12% $5,400
    PREMIA MORTGAGE, LLC 1 6.63% $0
    ROYAL UNITED MORTGAGE LLC 1 6.50% $6,624
    THOMPSON KANE & COMPANY, LLC 1 6.50% $3,220
    Two Rivers Bank & Trust 1 6.00% $1,755
    UNITED WHOLESALE MORTGAGE, LLC 1 6.47% $4,367
    WESCOM CENTRAL CREDIT UNION 1 6.13% $3,424
    LOANDEPOT.COM, LLC 1 7.63% $6,209
    Bank Iowa 1 7.25% $2,371
    Bank of America 1 5.75% $13,820
    BROKER SOLUTIONS, INC. 1 7.24% $7,046
    CALIBER HOME LOANS, INC. 1 6.63% $3,324
    First International Bank & Trust 1 8.13% $6,080
    First National Bank of America 1 10.62% $6,591

    Fairfield Average Closing Costs & Other Stats

    Fairfield, IA's 27 lenders originated 248 loans during 2023. The total origination value was $33,930,000, with an average loan value of $136,815.

    Fairfield's average closing costs are $3,380.

    The top Fairfield lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with 15 loans originated. Their average total fees are $2,284, which is $4,117 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Fairfield lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION ($2,284), .

    The lowest rate Fairfield lenders (with over 10 loans originated) are COMMUNITY 1ST CREDIT UNION (6.01%), .

    Fairfield, IA Mortgage 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Washington State Bank $9,515,000 $6,735,000 -29.2% 19.8%
    COMMUNITY 1ST CREDIT UNION $6,270,000 $6,220,000 -0.8% 18.3%
    MidWestOne Bank $4,310,000 $3,630,000 -15.8% 10.7%
    QUICKEN LOANS, LLC $2,215,000 $2,310,000 4.3% 6.8%
    U.S. Bank $320,000 $1,680,000 425.0% 5.0%
    Bank of Springfield $1,520,000 n/a 4.5%
    GREENSTATE CREDIT UNION $1,930,000 $1,025,000 -46.9% 3.0%
    Mortgage Research Center, LLC $1,640,000 $785,000 -52.1% 2.3%
    IOWA BANKERS MORTGAGE CORPORATION $1,410,000 $755,000 -46.5% 2.2%
    USAA Federal Savings Bank $380,000 $645,000 69.7% 1.9%
    First Bankers Trust Company $585,000 n/a 1.7%
    Hills Bank and Trust Company $2,280,000 $415,000 -81.8% 1.2%
    OPEN MORTGAGE, LLC $245,000 $395,000 61.2% 1.2%
    Bank of America $375,000 n/a 1.1%
    West Gate Bank $800,000 $330,000 -58.8% 1.0%
    PREMIA MORTGAGE, LLC $305,000 n/a 0.9%
    BROKER SOLUTIONS, INC. $255,000 $300,000 17.6% 0.9%
    WESCOM CENTRAL CREDIT UNION $285,000 n/a 0.8%
    Flagstar Bank, FSB $255,000 $265,000 3.9% 0.8%
    Ally Bank $255,000 n/a 0.8%
    AMERISAVE MORTGAGE CORPORATION $105,000 $245,000 133.3% 0.7%
    Bankers Trust Company $55,000 $225,000 309.1% 0.7%
    FRONTIER FINANCIAL, INC. $225,000 n/a 0.7%
    Sierra Pacific Mortgage Company, Inc. $225,000 n/a 0.7%
    THOMPSON KANE & COMPANY, LLC $195,000 $205,000 5.1% 0.6%
    HOMESERVICES LENDING, LLC $175,000 n/a 0.5%
    CALIBER HOME LOANS, INC. $165,000 n/a 0.5%
    First National Bank of Omaha $165,000 n/a 0.5%
    GREATER IOWA CREDIT UNION $160,000 n/a 0.5%
    Federation Bank $1,275,000 $155,000 -87.8% 0.5%
    Fortress Bank $155,000 n/a 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $290,000 $155,000 -46.6% 0.5%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $155,000 n/a 0.5%
    Two Rivers Bank & Trust $350,000 $155,000 -55.7% 0.5%
    First International Bank & Trust $145,000 n/a 0.4%
    AMERICAN FINANCING CORPORATION $135,000 n/a 0.4%
    LAND HOME FINANCIAL SERVICES, INC. $135,000 n/a 0.4%
    MOVEMENT MORTGAGE, LLC $135,000 n/a 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $125,000 n/a 0.4%
    First National Bank of America $115,000 n/a 0.3%
    Chickasaw Community Bank $105,000 n/a 0.3%
    Coastal Community Bank $105,000 n/a 0.3%
    FREEDOM MORTGAGE CORPORATION $105,000 n/a 0.3%
    TOWNE MORTGAGE COMPANY $105,000 n/a 0.3%
    UNITED WHOLESALE MORTGAGE, LLC $105,000 n/a 0.3%
    Deere Employees Credit Union $225,000 $100,000 -55.6% 0.3%
    ROYAL UNITED MORTGAGE LLC $95,000 n/a 0.3%
    Bank Iowa $85,000 n/a 0.3%
    LOANDEPOT.COM, LLC $85,000 n/a 0.3%
    First Interstate Bank $75,000 n/a 0.2%
    PENNYMAC LOAN SERVICES, LLC $105,000 $75,000 -28.6% 0.2%
    PNC Bank $75,000 n/a 0.2%
    VERIDIAN CREDIT UNION $230,000 $65,000 -71.7% 0.2%
    Merchants Bank $55,000 n/a 0.2%
    Figure Lending LLC $25,000 $45,000 80.0% 0.1%

    Fairfield's top lender by overall market share is Washington State Bank, with 19.8% market share. In second place, with 18.3%, is COMMUNITY 1ST CREDIT UNION, having originated $6,220,000 in loans. In third place, with 10.7%, is MidWestOne Bank, having originated $3,630,000 in loans. In fourth place, with 6.8%, is QUICKEN LOANS, LLC, having originated $2,310,000 in loans. In fifth place, with 5.0%, is U.S. Bank, having originated $1,680,000 in loans.

    Fairfield Housing Market Trends (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 $129,450 (-8.6%) $206,149 (21.0%) 0.00 56
    2018-02-01 $126,000 (-11.2%) $206,441 (20.6%) 0.00 54
    2018-03-01 $139,000 (-6.7%) $218,553 (18.7%) 0.00 59
    2018-04-01 $138,900 (-10.3%) $220,895 (17.6%) 0.00 55
    2018-05-01 $184,100 (24.9%) $228,467 (16.3%) 0.00 57
    2018-06-01 $177,500 (18.4%) $218,887 (2.2%) 0.00 68
    2018-07-01 $164,500 (6.1%) $214,238 (-5.0%) 0.00 75
    2018-08-01 $153,000 (2.9%) $214,866 (-6.7%) 0.00 68
    2018-09-01 $144,000 (1.2%) $199,397 (-14.2%) 0.00 72
    2018-10-01 $145,675 (5.8%) $208,518 (-8.5%) 0.00 75
    2018-11-01 $154,000 (12.4%) $205,615 (-9.3%) 0.00 76
    2018-12-01 $146,500 (10.3%) $208,308 (0.7%) 0.00 74
    2019-01-01 $149,125 (15.2%) $213,463 (3.6%) 0.00 68
    2019-02-01 $137,450 (9.1%) $199,956 (-3.1%) 0.00 73
    2019-03-01 $141,386 (1.7%) $197,506 (-9.6%) 0.00 72
    2019-04-01 $149,900 (7.9%) $205,125 (-7.1%) 0.00 74
    2019-05-01 $159,500 (-13.4%) $222,856 (-2.5%) 0.00 79
    2019-06-01 $165,000 (-7.0%) $233,391 (6.6%) 0.00 76
    2019-07-01 $159,700 (-2.9%) $223,570 (4.4%) 0.00 91
    2019-08-01 $158,636 (3.7%) $220,014 (2.4%) 0.00 90
    2019-09-01 $156,591 (8.7%) $211,449 (6.0%) 0.00 89
    2019-10-01 $155,000 (6.4%) $205,061 (-1.7%) 0.00 87
    2019-11-01 $154,900 (0.6%) $201,357 (-2.1%) 0.00 87
    2019-12-01 $152,500 (4.1%) $187,958 (-9.8%) 0.00 84
    2020-01-01 $154,200 (3.4%) $195,907 (-8.2%) 0.00 84
    2020-02-01 $154,900 (12.7%) $204,905 (2.5%) 0.00 84
    2020-03-01 $149,000 (5.4%) $193,029 (-2.3%) 0.00 86
    2020-04-01 $142,200 (-5.1%) $188,106 (-8.3%) 0.00 85
    2020-05-01 $147,700 (-7.4%) $196,163 (-12.0%) 0.00 80
    2020-06-01 $146,975 (-10.9%) $198,537 (-14.9%) 0.00 72
    2020-07-01 $143,500 (-10.1%) $204,081 (-8.7%) 0.00 65
    2020-08-01 $171,200 (7.9%) $225,226 (2.4%) 0.00 68
    2020-09-01 $179,700 (14.8%) $228,640 (8.1%) 0.00 62
    2020-10-01 $167,200 (7.9%) $219,241 (6.9%) 0.00 65
    2020-11-01 $170,950 (10.4%) $225,110 (11.8%) 0.00 59
    2020-12-01 $172,325 (13.0%) $232,546 (23.7%) 0.00 51
    2021-01-01 $165,000 (7.0%) $228,123 (16.4%) 0.00 36
    2021-02-01 $163,425 (5.5%) $226,021 (10.3%) 0.00 38
    2021-03-01 $162,150 (8.8%) $239,814 (24.2%) 0.00 36
    2021-04-01 $179,675 (26.4%) $260,114 (38.3%) 0.00 36
    2021-05-01 $202,450 (37.1%) $259,616 (32.4%) 0.00 34
    2021-06-01 $236,750 (61.1%) $266,984 (34.5%) 0.00 39
    2021-07-01 $210,000 (46.3%) $248,480 (21.8%) 0.00 45
    2021-08-01 $178,650 (4.4%) $227,849 (1.2%) 0.00 51
    2021-09-01 $169,900 (-5.5%) $234,159 (2.4%) 0.00 57
    2021-10-01 $207,000 (23.8%) $231,053 (5.4%) 0.00 47
    2021-11-01 $216,250 (26.5%) $220,876 (-1.9%) 0.00 49
    2021-12-01 $235,700 (36.8%) $253,782 (9.1%) 0.00 52
    2022-01-01 $225,000 (36.4%) $253,454 (11.1%) 0.00 48
    2022-02-01 $207,000 (26.7%) $254,436 (12.6%) 0.00 39
    2022-03-01 $207,000 (27.7%) $263,306 (9.8%) 0.00 38
    2022-04-01 $210,000 (16.9%) $247,689 (-4.8%) 0.00 40
    2022-05-01 $176,000 (-13.1%) $235,886 (-9.1%) 0.00 48
    2022-06-01 $170,825 (-27.9%) $225,304 (-15.6%) 0.00 55
    2022-07-01 $185,000 (-11.9%) $251,407 (1.2%) 0.00 62
    2022-08-01 $189,225 (5.9%) $264,438 (16.1%) 0.00 53
    2022-09-01 $189,900 (11.8%) $295,908 (26.4%) 0.00 46
    2022-10-01 $193,500 (-6.5%) $298,150 (29.0%) 0.00 44
    2022-11-01 $199,900 (-7.6%) $307,966 (39.4%) 0.00 40
    2022-12-01 $207,000 (-12.2%) $296,563 (16.9%) 0.00 43
    2023-01-01 $205,000 (-8.9%) $318,346 (25.6%) 0.00 41
    2023-02-01 $199,700 (-3.5%) $306,263 (20.4%) 0.00 38
    2023-03-01 $203,500 (-1.7%) $292,902 (11.2%) 0.00 42
    2023-04-01 $225,000 (7.1%) $293,539 (18.5%) 0.00 46
    2023-05-01 $216,225 (22.9%) $289,797 (22.9%) 0.00 45
    2023-06-01 $191,225 (11.9%) $274,370 (21.8%) 0.00 45
    2023-07-01 $179,900 (-2.8%) $255,404 (1.6%) 0.00 44
    2023-08-01 $180,725 (-4.5%) $259,979 (-1.7%) 0.00 38
    2023-09-01 $182,250 (-4.0%) $292,049 (-1.3%) 0.00 42
    2023-10-01 $197,450 (2.0%) $315,475 (5.8%) 0.00 48
    2023-11-01 $194,950 (-2.5%) $312,921 (1.6%) 0.00 51
    2023-12-01 $210,000 (1.5%) $319,189 (7.6%) 0.00 47
    2024-01-01 $200,375 (-2.3%) $318,999 (0.2%) 0.00 50
    2024-02-01 $203,425 (1.9%) $326,936 (6.8%) 0.00 47
    2024-03-01 $206,725 (1.6%) $308,447 (5.3%) 0.00 51
    Fairfield's median listing price for 2024-03-01 was $206,725, a difference of $3,225 (1.6%) versus the prior year and $3,300 versus the prior month.

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

    Fairfield's average listing price for 2024-03-01 was $308,447, a difference of $15,545 (5.3%) versus the prior year and $-18,489 versus the prior month.

    For the 2024-03-01 period, Fairfield had 51 MLS listings, a difference of 4 listings (9%) versus the prior month and 9 listings (21%) 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 1,496 sqft
    2018-02-01 0 days 1,505 sqft
    2018-03-01 0 days 1,712 sqft
    2018-04-01 0 days 1,754 sqft
    2018-05-01 0 days 1,779 sqft
    2018-06-01 0 days 1,767 sqft
    2018-07-01 0 days 1,633 sqft
    2018-08-01 0 days 1,564 sqft
    2018-09-01 0 days 1,600 sqft
    2018-10-01 0 days 1,538 sqft
    2018-11-01 0 days 1,505 sqft
    2018-12-01 0 days 1,564 sqft
    2019-01-01 0 days 1,574 sqft
    2019-02-01 0 days 1,606 sqft
    2019-03-01 0 days 1,568 sqft
    2019-04-01 0 days 1,515 sqft
    2019-05-01 0 days 1,568 sqft
    2019-06-01 0 days 1,660 sqft
    2019-07-01 0 days 1,669 sqft
    2019-08-01 0 days 1,655 sqft
    2019-09-01 0 days 1,617 sqft
    2019-10-01 0 days 1,587 sqft
    2019-11-01 0 days 1,507 sqft
    2019-12-01 0 days 1,518 sqft
    2020-01-01 0 days 1,986 sqft
    2020-02-01 0 days 1,584 sqft
    2020-03-01 0 days 1,548 sqft
    2020-04-01 0 days 1,469 sqft
    2020-05-01 0 days 1,694 sqft
    2020-06-01 0 days 1,679 sqft
    2020-07-01 0 days 1,675 sqft
    2020-08-01 0 days 1,712 sqft
    2020-09-01 0 days 1,624 sqft
    2020-10-01 0 days 1,588 sqft
    2020-11-01 0 days 1,588 sqft
    2020-12-01 0 days 1,668 sqft
    2021-01-01 0 days 1,660 sqft
    2021-02-01 0 days 1,609 sqft
    2021-03-01 0 days 1,608 sqft
    2021-04-01 0 days 1,850 sqft
    2021-05-01 0 days 1,784 sqft
    2021-06-01 0 days 1,748 sqft
    2021-07-01 0 days 1,640 sqft
    2021-08-01 0 days 1,541 sqft
    2021-09-01 0 days 1,488 sqft
    2021-10-01 0 days 1,479 sqft
    2021-11-01 0 days 1,475 sqft
    2021-12-01 0 days 1,536 sqft
    2022-01-01 0 days 1,592 sqft
    2022-02-01 0 days 1,602 sqft
    2022-03-01 0 days 1,611 sqft
    2022-04-01 0 days 1,624 sqft
    2022-05-01 0 days 1,496 sqft
    2022-06-01 0 days 1,425 sqft
    2022-07-01 0 days 1,584 sqft
    2022-08-01 0 days 1,623 sqft
    2022-09-01 0 days 1,641 sqft
    2022-10-01 0 days 1,640 sqft
    2022-11-01 0 days 1,650 sqft
    2022-12-01 0 days 1,640 sqft
    2023-01-01 0 days 1,608 sqft
    2023-02-01 0 days 1,620 sqft
    2023-03-01 0 days 1,630 sqft
    2023-04-01 0 days 1,620 sqft
    2023-05-01 0 days 1,603 sqft
    2023-06-01 0 days 1,539 sqft
    2023-07-01 0 days 1,465 sqft
    2023-08-01 0 days 1,448 sqft
    2023-09-01 0 days 1,449 sqft
    2023-10-01 0 days 1,463 sqft
    2023-11-01 0 days 1,462 sqft
    2023-12-01 0 days 1,607 sqft
    2024-01-01 0 days 1,619 sqft
    2024-02-01 0 days 1,591 sqft
    2024-03-01 0 days 1,586 sqft
    Fairfield's median listing age (time on market) for 2024-03-01 was 0 days.

    Fairfield's median square footage for active listings during the 2024-03-01 period was 1,586 sqft. One year prior, the average listing was 1,630 sqft.

    Fairfield, IA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 127 $24,585,000 $193,583
    Cash Out Refi 39 $3,705,000 $95,000
    Refi 38 $3,330,000 $87,632
    Home Improvement 28 $1,380,000 $49,286
    Other 16 $930,000 $58,125

    Fairfield's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 69 $12,625,000 $182,971
    5-6% 50 $6,860,000 $137,200
    7-8% 26 $4,980,000 $191,538
    <2.5% 24 $1,100,000 $45,833
    Over 8% 22 $1,320,000 $60,000
    4-5% 1 $75,000 $75,000
    3-4% 1 $55,000 $55,000

    During 2023, Fairfield's most frequently originated rate bucket was 6-7%, with 69 originations.

    Loan Sizing (Fairfield, IA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 115 $6,175,000 $53,696
    $100k-200k 87 $12,185,000 $140,057
    $200k-400k 40 $11,210,000 $280,250
    $400k-600k 3 $1,575,000 $525,000
    $600k-1000k 2 $1,420,000 $710,000
    $Over $1MM 1 $1,365,000 $1,365,000

    Fairfield's loan sizing saw the bucket of loans from $100,000 or less with 115 originations, totaling $6,175,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 75 $15,685,000 $209,133
    20-40% 36 $2,180,000 $60,556
    Under 20% 31 $1,185,000 $38,226
    60-80% 29 $6,025,000 $207,759
    40-60% 19 $1,575,000 $82,895
    Over 100% 2 $350,000 $175,000

    Fairfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 75 originations, totaling $15,685,000 in origination value.