Muscatine Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Muscatine averaged
6.67%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.6% and
one month ago for the week of 2024-10-03, the
average rate was 5.9%.
Muscatine's average rate one year ago was 7.74%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.39%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Muscatine 30 Year Fixed Rate | 2024-11-07 | 6.67% |
| Muscatine 30 Year Fixed Rate Refi | 2024-11-07 | 7.39% |
| Muscatine 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Muscatine 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Muscatine 30 Year FHA | 2024-11-07 | 6.21% |
| Muscatine 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Muscatine 30 Year USDA | 2024-11-07 | 6.28% |
| Muscatine 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Muscatine 30 Year VA | 2024-11-07 | 6.44% |
| Muscatine 30 Year VA Refi | 2024-11-07 | 6.24% |
Muscatine 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 Muscatine, 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.).
Muscatine Average Closing Costs & Other Stats
Muscatine, IA's 42 lenders originated 776
loans during 2023. The total origination value was $106,300,000, with an average loan value of
$136,985.
Muscatine's average closing costs are $3,573.
The top Muscatine lender as defined by loan originations is CBI Bank & Trust, with
39 loans originated. Their average total fees are
$2,599, which is $642
higher than the next largest lender,
GREENSTATE CREDIT UNION.
The lowest fee Muscatine lenders (with over 10 loans originated) are
IOWA BANKERS MORTGAGE CORPORATION ($1,947), GREENSTATE CREDIT UNION ($1,957), RUHL MORTGAGE, LLC ($2,005), ASCENTRA ($2,123) and MidWestOne Bank ($2,563).
The lowest rate Muscatine lenders (with over 10 loans originated) are
ASCENTRA (5.98%), IOWA BANKERS MORTGAGE CORPORATION (6.31%), GREENSTATE CREDIT UNION (6.39%), RUHL MORTGAGE, LLC (6.51%) and QUICKEN LOANS, LLC (6.69%).
Muscatine, 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 |
|---|---|---|---|---|
| MidWestOne Bank | $6,950,000 | $18,360,000 | 164.2% | 17.3% |
| CBI Bank & Trust | $17,380,000 | $15,405,000 | -11.4% | 14.5% |
| GREENSTATE CREDIT UNION | $12,285,000 | $10,520,000 | -14.4% | 9.9% |
| RUHL MORTGAGE, LLC | $12,680,000 | $7,830,000 | -38.2% | 7.4% |
| ASCENTRA | $6,310,000 | $5,040,000 | -20.1% | 4.7% |
| QUICKEN LOANS, LLC | $6,780,000 | $4,690,000 | -30.8% | 4.4% |
| IOWA BANKERS MORTGAGE CORPORATION | $2,905,000 | $3,280,000 | 12.9% | 3.1% |
| BROKER SOLUTIONS, INC. | $2,660,000 | $3,195,000 | 20.1% | 3.0% |
| HOMESIDE FINANCIAL, LLC | $655,000 | $2,900,000 | 342.7% | 2.7% |
| Mortgage Research Center, LLC | $1,965,000 | $2,680,000 | 36.4% | 2.5% |
| Hills Bank and Trust Company | $5,030,000 | $2,530,000 | -49.7% | 2.4% |
| U.S. Bank | $3,450,000 | $2,485,000 | -28.0% | 2.3% |
| SUN WEST MORTGAGE COMPANY, INC. | $940,000 | $1,810,000 | 92.6% | 1.7% |
| Washington State Bank | $460,000 | $1,610,000 | 250.0% | 1.5% |
| RESIDENTIAL MORTGAGE NETWORK, INC. | $2,835,000 | $1,525,000 | -46.2% | 1.4% |
| Collins Community Credit Union | $25,000 | $1,235,000 | 4,840.0% | 1.2% |
| CARDINAL FINANCIAL | $3,415,000 | $1,170,000 | -65.7% | 1.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $945,000 | $1,045,000 | 10.6% | 1.0% |
| Wells Fargo Bank | $1,480,000 | $1,005,000 | -32.1% | 0.9% |
| VERIDIAN CREDIT UNION | $800,000 | $970,000 | 21.3% | 0.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $885,000 | n/a | 0.8% | |
| R.I.A. Federal Credit Union | $840,000 | $790,000 | -6.0% | 0.7% |
| THE FAMILY CREDIT UNION | $805,000 | $770,000 | -4.3% | 0.7% |
| Deere Employees Credit Union | $605,000 | $765,000 | 26.4% | 0.7% |
| Flanagan State Bank | $205,000 | $750,000 | 265.9% | 0.7% |
| DuTrac Community Credit Union | $4,320,000 | $705,000 | -83.7% | 0.7% |
| Bank of Tennessee | $635,000 | n/a | 0.6% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $540,000 | n/a | 0.5% | |
| NEWREZ LLC | $2,180,000 | $415,000 | -81.0% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $405,000 | $410,000 | 1.2% | 0.4% |
| PREMIA MORTGAGE, LLC | $980,000 | $390,000 | -60.2% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $795,000 | $385,000 | -51.6% | 0.4% |
| Carrington Mortgage Services, LLC | $1,225,000 | $365,000 | -70.2% | 0.3% |
| Midwest Bank | $345,000 | $365,000 | 5.8% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $555,000 | $360,000 | -35.1% | 0.3% |
| GUILD MORTGAGE COMPANY | $625,000 | $345,000 | -44.8% | 0.3% |
| MARINE | $465,000 | $310,000 | -33.3% | 0.3% |
| Two Rivers Bank & Trust | $75,000 | $305,000 | 306.7% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $895,000 | $295,000 | -67.0% | 0.3% |
| VILLAGE CAPITAL MORTGAGE | $290,000 | n/a | 0.3% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $275,000 | n/a | 0.3% | |
| Luana Savings Bank | $720,000 | $260,000 | -63.9% | 0.2% |
| AMERICAN FINANCING CORPORATION | $125,000 | $255,000 | 104.0% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $185,000 | $250,000 | 35.1% | 0.2% |
| CALIBER HOME LOANS, INC. | $95,000 | $245,000 | 157.9% | 0.2% |
| First Central State Bank | $320,000 | $240,000 | -25.0% | 0.2% |
| USAA Federal Savings Bank | $380,000 | $225,000 | -40.8% | 0.2% |
| Blue Grass Savings Bank | $90,000 | $205,000 | 127.8% | 0.2% |
| Fortress Bank | $205,000 | n/a | 0.2% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $105,000 | $205,000 | 95.2% | 0.2% |
| Chickasaw Community Bank | $195,000 | n/a | 0.2% | |
| CITIZENS EQUITY FIRST | $470,000 | $185,000 | -60.6% | 0.2% |
| PLAZA HOME MORTGAGE, INC. | $65,000 | $185,000 | 184.6% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $720,000 | $175,000 | -75.7% | 0.2% |
| GUARANTEED RATE, INC. | $165,000 | n/a | 0.2% | |
| Ixonia Bank | $165,000 | n/a | 0.2% | |
| COMMUNITY 1ST CREDIT UNION | $155,000 | n/a | 0.1% | |
| Truist | $155,000 | n/a | 0.1% | |
| GAS AND ELECTRIC CREDIT UNION | $665,000 | $150,000 | -77.4% | 0.1% |
| OPEN MORTGAGE, LLC | $185,000 | $150,000 | -18.9% | 0.1% |
| Figure Lending LLC | $80,000 | $145,000 | 81.3% | 0.1% |
| Blackhawk Bank & Trust | $195,000 | $135,000 | -30.8% | 0.1% |
| Servion, Inc. | $520,000 | $135,000 | -74.0% | 0.1% |
| Cedar Rapids Bank and Trust Company | $125,000 | n/a | 0.1% | |
| Flagstar Bank, FSB | $525,000 | $125,000 | -76.2% | 0.1% |
| I. H. MISSISSIPPI VALLEY CREDIT UNION | $2,275,000 | $115,000 | -94.9% | 0.1% |
| Plains Commerce Bank | $115,000 | n/a | 0.1% | |
| INTERRA CREDIT UNION | $105,000 | n/a | 0.1% | |
| Ames National Corporation/Reliance State Bank | $95,000 | n/a | 0.1% | |
| Denver Savings Bank | $95,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $95,000 | n/a | 0.1% | |
| NEW DAY FINANCIAL, LLC | $95,000 | n/a | 0.1% | |
| SENB Bank | $960,000 | $85,000 | -91.1% | 0.1% |
| Coastal Community Bank | $75,000 | n/a | 0.1% | |
| 21ST MORTGAGE CORPORATION | $80,000 | $70,000 | -12.5% | 0.1% |
| JPMorgan Chase Bank | $115,000 | $65,000 | -43.5% | 0.1% |
| Old National Bank | $55,000 | n/a | 0.1% | |
| DUPACO COMMUNITY | $110,000 | $45,000 | -59.1% | 0.0% |
| Quad City Bank and Trust Company | $110,000 | $15,000 | -86.4% | 0.0% |
Muscatine's top lender by overall market share is MidWestOne Bank, with 17.3% market share. In second place, with 14.5%, is CBI Bank & Trust, having originated $15,405,000 in loans. In third place, with 9.9%, is GREENSTATE CREDIT UNION, having originated $10,520,000 in loans. In fourth place, with 7.4%, is RUHL MORTGAGE, LLC, having originated $7,830,000 in loans. In fifth place, with 4.7%, is ASCENTRA, having originated $5,040,000 in loans.
Muscatine, IA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 422 | $74,130,000 | $175,664 |
| Refi | 104 | $12,220,000 | $117,500 |
| Other | 101 | $5,935,000 | $58,762 |
| Home Improvement | 84 | $4,850,000 | $57,738 |
| Cash Out Refi | 65 | $9,165,000 | $141,000 |
Muscatine's most frequently cited loan purpose was Home Purchase, with 422 originations. The 2nd most popular reason was Refi, with 104 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 300 | $46,930,000 | $156,433 |
| 7-8% | 178 | $21,400,000 | $120,225 |
| 5-6% | 138 | $21,230,000 | $153,841 |
| Over 8% | 120 | $7,600,000 | $63,333 |
| 4-5% | 11 | $4,405,000 | $400,455 |
| 3-4% | 4 | $430,000 | $107,500 |
| 2.5-3% | 1 | $25,000 | $25,000 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2023, Muscatine's most frequently originated rate bucket was 6-7%, with 300 originations.
Loan Sizing (Muscatine, IA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 363 | $17,205,000 | $47,397 |
| $100k-200k | 246 | $36,030,000 | $146,463 |
| $200k-400k | 148 | $39,820,000 | $269,054 |
| $400k-600k | 13 | $5,915,000 | $455,000 |
| $600k-1000k | 3 | $2,165,000 | $721,667 |
| $Over $1MM | 3 | $5,165,000 | $1,721,667 |
Muscatine's loan sizing saw the bucket of loans from $100,000 or less with 363 originations, totaling $17,205,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 267 | $52,935,000 | $198,258 |
| 60-80% | 146 | $26,120,000 | $178,904 |
| Under 20% | 141 | $4,295,000 | $30,461 |
| 20-40% | 122 | $7,700,000 | $63,115 |
| 40-60% | 69 | $9,235,000 | $133,841 |
| Over 100% | 5 | $1,165,000 | $233,000 |
Muscatine's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 267 originations, totaling $52,935,000 in origination value.