Fairfield Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Fairfield averaged 7.15% for the week of 2024-06-13, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-06) was 6.89% and one month ago for the week of 2024-05-09, the average rate was 6.89%.

Fairfield's average rate one year ago was 6.91%.

For refis of the same type during the week of 2024-06-13, the average rate was 7.05%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-13 6.95%
Fairfield 30 Year Fixed Rate 2024-06-13 7.15%
Fairfield 30 Year Fixed Rate Refi 2024-06-13 7.05%
Fairfield 15 Year Fixed Rate 2024-06-13 6.17%
Fairfield 15 Year Fixed Rate Refi 2024-06-13 6.17%
Fairfield 30 Year FHA 2024-06-13 6.51%
Fairfield 30 Year FHA Refi 2024-06-13 6.51%
Fairfield 30 Year USDA 2024-06-13 6.61%
Fairfield 30 Year USDA Refi 2024-06-13 6.51%
Fairfield 30 Year VA 2024-06-13 6.42%
Fairfield 30 Year VA Refi 2024-06-13 6.42%
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
2024-04-01 $216,875 (-3.6%) $307,676 (4.8%) 0.00 56
2024-05-01 $206,200 (-4.6%) $318,772 (10.0%) 0.00 55
Fairfield's median listing price for 2024-05-01 was $206,200, a difference of $-10,025 (-4.6%) versus the prior year and $-10,675 versus the prior month.

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

Fairfield's average listing price for 2024-05-01 was $318,772, a difference of $28,975 (10.0%) versus the prior year and $11,096 versus the prior month.

For the 2024-05-01 period, Fairfield had 55 MLS listings, a difference of -1 listings (-2%) versus the prior month and 10 listings (22%) 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
2024-04-01 0 days 1,586 sqft
2024-05-01 0 days 1,605 sqft
Fairfield's median listing age (time on market) for 2024-05-01 was 0 days.

Fairfield's median square footage for active listings during the 2024-05-01 period was 1,605 sqft. One year prior, the average listing was 1,603 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.