Ottumwa Mortgage Rates
30 Year Fixed Rate mortgages in Ottumwa averaged
6.28%
for the week of 2022-06-23, compared to the national average of
5.81% for the same period.
The average rate for the prior week (2022-06-16) was
6.25% and
one month ago for the week of 2022-05-19, the
average rate was 5.52%.
Ottumwa's average rate one year ago was 3.17%.
For refis of the same type during the week of 2022-06-23, the average rate
was 6.15%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
Ottumwa 30 Year Fixed Rate | 2022-06-23 | 6.28% |
Ottumwa 30 Year Fixed Rate Refi | 2022-06-23 | 6.15% |
Ottumwa 15 Year Fixed Rate | 2022-06-23 | 5.63% |
Ottumwa 15 Year Fixed Rate Refi | 2022-06-23 | 5.1% |
Ottumwa 30 Year FHA | 2022-06-23 | 0.34% |
Ottumwa 30 Year FHA Refi | 2022-06-23 | 0.18% |
Ottumwa 30 Year USDA | 2022-06-23 | -0.14% |
Ottumwa 30 Year VA | 2022-06-23 | 0.25% |
Ottumwa 30 Year VA Refi | 2022-06-23 | -0.06% |
Ottumwa 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 Ottumwa, 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.).
Ottumwa, IA's 37 lenders originated 753
loans during 2021. The total origination value was $85,945,000, with an average loan value of
$114,137.
The top Ottumwa lender as defined by loan originations is COMMUNITY 1ST CREDIT UNION, with
71 loans originated. Their average total fees are
$2,033, which is $422
lower than the next largest lender,
U.S. Bank.
The lowest fee Ottumwa lenders (with over 10 loans originated) are
GREENSTATE CREDIT UNION ($1,895), COMMUNITY 1ST CREDIT UNION ($2,033), West Gate Bank ($2,120), Wells Fargo Bank ($2,167) and U.S. Bank ($2,455).
The lowest rate Ottumwa lenders (with over 10 loans originated) are
Deere Employees Credit Union (2.59%), West Gate Bank (2.93%), U.S. Bank (3.02%), GREENSTATE CREDIT UNION (3.10%) and QUICKEN LOANS, LLC (3.12%).
Ottumwa, 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 |
---|---|---|---|---|
COMMUNITY 1ST CREDIT UNION | $16,885,000 | $20,095,000 | 19.0% | 23.4% |
U.S. Bank | $7,670,000 | $10,460,000 | 36.4% | 12.2% |
QUICKEN LOANS, LLC | $6,885,000 | $9,110,000 | 32.3% | 10.6% |
West Gate Bank | $9,470,000 | $7,320,000 | -22.7% | 8.5% |
Wells Fargo Bank | $5,065,000 | $6,400,000 | 26.4% | 7.4% |
MidWestOne Bank | $695,000 | $2,975,000 | 328.1% | 3.5% |
IOWA BANKERS MORTGAGE CORPORATION | $3,545,000 | $2,840,000 | -19.9% | 3.3% |
GREENSTATE CREDIT UNION | $650,000 | $2,835,000 | 336.2% | 3.3% |
Deere Employees Credit Union | $3,415,000 | $2,735,000 | -19.9% | 3.2% |
Mortgage Research Center, LLC | $1,835,000 | $1,935,000 | 5.4% | 2.3% |
GUILD MORTGAGE COMPANY | $2,540,000 | $1,360,000 | -46.5% | 1.6% |
LOANDEPOT.COM, LLC | $355,000 | $1,240,000 | 249.3% | 1.4% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $475,000 | $1,185,000 | 149.5% | 1.4% |
Washington State Bank | $830,000 | $1,185,000 | 42.8% | 1.4% |
Mr. Cooper ( Nationstar Mortgage ) | $425,000 | $1,075,000 | 152.9% | 1.3% |
FREEDOM MORTGAGE CORPORATION | $1,235,000 | $800,000 | -35.2% | 0.9% |
PENNYMAC LOAN SERVICES, LLC | $760,000 | n/a | 0.9% | |
Vibrant Credit Union | $725,000 | n/a | 0.8% | |
Barrington Bank & Trust Company, N.A. | $500,000 | $660,000 | 32.0% | 0.8% |
Midwest Heritage Bank FSB | $95,000 | $620,000 | 552.6% | 0.7% |
Collins Community Credit Union | $255,000 | $560,000 | 119.6% | 0.7% |
CROSSCOUNTRY MORTGAGE, LLC | $555,000 | n/a | 0.6% | |
NEWREZ LLC | $555,000 | n/a | 0.6% | |
CHURCHILL MORTGAGE CORPORATION | $510,000 | n/a | 0.6% | |
ALLIANT | $290,000 | $465,000 | 60.3% | 0.5% |
AMERISAVE MORTGAGE CORPORATION | $135,000 | $435,000 | 222.2% | 0.5% |
Farm Credit Mid-America, ACA | $875,000 | $435,000 | -50.3% | 0.5% |
VERIDIAN CREDIT UNION | $550,000 | $405,000 | -26.4% | 0.5% |
UNITED WHOLESALE MORTGAGE, LLC | $345,000 | n/a | 0.4% | |
Flagstar Bank, FSB | $155,000 | $325,000 | 109.7% | 0.4% |
Waterstone Mortgage Corporation | $120,000 | $315,000 | 162.5% | 0.4% |
VILLAGE CAPITAL & INVESTMENT LLC | $65,000 | $305,000 | 369.2% | 0.4% |
NAVY FEDERAL CREDIT UNION | $85,000 | $290,000 | 241.2% | 0.3% |
Luana Savings Bank | $125,000 | $280,000 | 124.0% | 0.3% |
AMERICAN FINANCING CORPORATION | $270,000 | n/a | 0.3% | |
LAND HOME FINANCIAL SERVICES, INC. | $105,000 | $245,000 | 133.3% | 0.3% |
CBI Bank & Trust | $220,000 | n/a | 0.3% | |
HOMESIDE FINANCIAL, LLC | $215,000 | n/a | 0.3% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $410,000 | $205,000 | -50.0% | 0.2% |
UNIVERSAL LENDING CORPORATION | $55,000 | $195,000 | 254.5% | 0.2% |
Bank Iowa | $1,415,000 | $190,000 | -86.6% | 0.2% |
ZILLOW HOME LOANS, LLC | $165,000 | n/a | 0.2% | |
DUPACO COMMUNITY | $155,000 | n/a | 0.2% | |
Gateway First Bank | $145,000 | n/a | 0.2% | |
Low VA Rates, LLC | $125,000 | $145,000 | 16.0% | 0.2% |
GERSHMAN INVESTMENT CORP. | $60,000 | $130,000 | 116.7% | 0.2% |
Great Western Bank | $115,000 | n/a | 0.1% | |
MOVEMENT MORTGAGE, LLC | $115,000 | n/a | 0.1% | |
RESIDENTIAL MORTGAGE NETWORK, INC. | $115,000 | n/a | 0.1% | |
STEARNS LENDING, LLC | $115,000 | n/a | 0.1% | |
Carrington Mortgage Services, LLC | $110,000 | 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% | |
MARINE | $85,000 | n/a | 0.1% | |
Northpointe Bank | $85,000 | n/a | 0.1% | |
Citibank | $15,000 | $75,000 | 400.0% | 0.1% |
FRONTIER FINANCIAL, INC. | $145,000 | $75,000 | -48.3% | 0.1% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $75,000 | n/a | 0.1% | |
Lincoln Savings Bank | $145,000 | $65,000 | -55.2% | 0.1% |
AMERICAN ADVISORS GROUP | $55,000 | n/a | 0.1% | |
Arvest Bank | $55,000 | n/a | 0.1% | |
Bank of the West | $55,000 | n/a | 0.1% | |
Chickasaw Community Bank | $45,000 | n/a | 0.1% | |
TRIAD FINANCIAL SERVICES, INC. | $45,000 | n/a | 0.1% | |
Figure Lending LLC | $35,000 | n/a | 0.0% | |
Hills Bank and Trust Company | $35,000 | n/a | 0.0% | |
Southwest Airlines Federal Credit Union | $75,000 | $25,000 | -66.7% | 0.0% |
Ottumwa's top lender by overall market share is COMMUNITY 1ST CREDIT UNION, with 23.4% market share. In second place, with 12.2%, is U.S. Bank, having originated $10,460,000 in loans. In third place, with 10.6%, is QUICKEN LOANS, LLC, having originated $9,110,000 in loans. In third place, with 8.5%, is West Gate Bank, having originated $7,320,000 in loans. In third place, with 7.4%, is Wells Fargo Bank, having originated $6,400,000 in loans.
Ottumwa, IA Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 369 | $44,605,000 | $120,881 |
Cash Out Refi | 181 | $16,175,000 | $89,365 |
Refi | 179 | $23,415,000 | $130,810 |
Home Improvement | 14 | $850,000 | $60,714 |
Other | 10 | $900,000 | $90,000 |
Ottumwa's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Cash Out Refi, with 181 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 277 | $36,875,000 | $133,123 |
3-4% | 261 | $30,795,000 | $117,989 |
<2.5% | 138 | $13,030,000 | $94,420 |
4-5% | 44 | $3,130,000 | $71,136 |
5-6% | 8 | $230,000 | $28,750 |
6-7% | 2 | $70,000 | $35,000 |
Over 8% | 2 | $120,000 | $60,000 |
7-8% | 1 | $35,000 | $35,000 |
During 2021, Ottumwa's most frequently originated rate bucket was 2.5-3%, with 277 originations.
Loan Sizing (Ottumwa, IA MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 381 | $22,245,000 | $58,386 |
$100k-200k | 291 | $40,575,000 | $139,433 |
$200k-400k | 75 | $18,465,000 | $246,200 |
$600k-1000k | 3 | $2,485,000 | $828,333 |
$400k-600k | 2 | $860,000 | $430,000 |
$Over $1MM | 1 | $1,315,000 | $1,315,000 |
Ottumwa's loan sizing saw the bucket of loans from $100,000 or less with 381 originations, totaling $22,245,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 361 | $47,345,000 | $131,150 |
60-80% | 192 | $23,240,000 | $121,042 |
20-40% | 62 | $3,530,000 | $56,935 |
40-60% | 60 | $7,220,000 | $120,333 |
Under 20% | 46 | $1,030,000 | $22,391 |
Over 100% | 2 | $360,000 | $180,000 |
Ottumwa's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 361 originations, totaling $47,345,000 in origination value.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Ottumwa (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 | $89,000 (-18.9%) | $124,285 (-3.7%) | 0.00 | 127 |
2018-02-01 | $83,750 (-23.9%) | $110,744 (-15.3%) | 0.00 | 130 |
2018-03-01 | $84,900 (-27.9%) | $119,830 (-13.5%) | 0.00 | 133 |
2018-04-01 | $93,900 (-21.1%) | $129,187 (-7.7%) | 0.00 | 139 |
2018-05-01 | $99,000 (-11.8%) | $132,133 (-7.0%) | 0.00 | 144 |
2018-06-01 | $95,000 (-17.0%) | $131,097 (-10.0%) | 0.00 | 150 |
2018-07-01 | $94,950 (-13.7%) | $130,237 (-10.2%) | 0.00 | 172 |
2018-08-01 | $97,250 (-7.8%) | $132,841 (-6.3%) | 0.00 | 178 |
2018-09-01 | $99,900 (-8.4%) | $133,450 (0.3%) | 0.00 | 178 |
2018-10-01 | $107,450 (8.0%) | $133,487 (8.5%) | 0.00 | 175 |
2018-11-01 | $117,450 (12.0%) | $136,104 (10.4%) | 0.00 | 174 |
2018-12-01 | $112,900 (25.4%) | $133,916 (10.1%) | 0.00 | 167 |
2019-01-01 | $115,000 (29.2%) | $137,606 (10.7%) | 0.00 | 154 |
2019-02-01 | $112,900 (34.8%) | $135,684 (22.5%) | 0.00 | 149 |
2019-03-01 | $114,657 (35.1%) | $141,401 (18.0%) | 0.00 | 141 |
2019-04-01 | $115,707 (23.2%) | $145,811 (12.9%) | 0.00 | 136 |
2019-05-01 | $108,250 (9.3%) | $136,781 (3.5%) | 0.00 | 147 |
2019-06-01 | $109,000 (14.7%) | $138,717 (5.8%) | 0.00 | 148 |
2019-07-01 | $122,000 (28.5%) | $143,823 (10.4%) | 0.00 | 154 |
2019-08-01 | $120,814 (24.2%) | $146,020 (9.9%) | 0.00 | 152 |
2019-09-01 | $123,450 (23.6%) | $152,103 (14.0%) | 0.00 | 149 |
2019-10-01 | $125,750 (17.0%) | $149,971 (12.4%) | 0.00 | 156 |
2019-11-01 | $129,000 (9.8%) | $153,393 (12.7%) | 0.00 | 145 |
2019-12-01 | $124,500 (10.3%) | $151,484 (13.1%) | 0.00 | 133 |
2020-01-01 | $129,000 (12.2%) | $154,781 (12.5%) | 0.00 | 127 |
2020-02-01 | $129,900 (15.1%) | $159,118 (17.3%) | 0.00 | 121 |
2020-03-01 | $142,250 (24.1%) | $159,858 (13.1%) | 0.00 | 120 |
2020-04-01 | $149,500 (29.2%) | $163,441 (12.1%) | 0.00 | 117 |
2020-05-01 | $155,000 (43.2%) | $168,321 (23.1%) | 0.00 | 109 |
2020-06-01 | $157,625 (44.6%) | $178,228 (28.5%) | 0.00 | 101 |
2020-07-01 | $155,250 (27.3%) | $176,867 (23.0%) | 0.00 | 94 |
2020-08-01 | $158,000 (30.8%) | $200,910 (37.6%) | 0.00 | 90 |
2020-09-01 | $154,000 (24.8%) | $186,321 (22.5%) | 0.00 | 84 |
2020-10-01 | $138,500 (10.1%) | $157,624 (5.1%) | 0.00 | 82 |
2020-11-01 | $138,000 (7.0%) | $152,091 (-0.9%) | 0.00 | 86 |
2020-12-01 | $138,750 (11.5%) | $156,577 (3.4%) | 0.00 | 71 |
2021-01-01 | $118,500 (-8.1%) | $139,967 (-9.6%) | 0.00 | 63 |
2021-02-01 | $124,450 (-4.2%) | $155,862 (-2.1%) | 0.00 | 67 |
2021-03-01 | $119,700 (-15.9%) | $147,287 (-7.9%) | 0.00 | 98 |
2021-04-01 | $119,000 (-20.4%) | $143,746 (-12.1%) | 0.00 | 109 |
2021-05-01 | $129,000 (-16.8%) | $148,839 (-11.6%) | 0.00 | 114 |
2021-06-01 | $126,500 (-19.8%) | $147,500 (-17.2%) | 0.00 | 105 |
2021-07-01 | $117,500 (-24.3%) | $142,840 (-19.2%) | 0.00 | 51 |
2021-08-01 | $109,000 (-31.0%) | $123,300 (-38.6%) | 0.00 | 59 |
2021-09-01 | $107,000 (-30.5%) | $123,581 (-33.7%) | 0.00 | 54 |
2021-10-01 | $107,900 (-22.1%) | $158,693 (0.7%) | 0.00 | 65 |
2021-11-01 | $105,000 (-23.9%) | $158,674 (4.3%) | 0.00 | 60 |
2021-12-01 | $104,750 (-24.5%) | $155,443 (-0.7%) | 0.00 | 58 |
2022-01-01 | $89,900 (-24.1%) | $128,799 (-8.0%) | 0.00 | 52 |
2022-02-01 | $99,950 (-19.7%) | $141,755 (-9.1%) | 0.00 | 49 |
2022-03-01 | $126,500 (5.7%) | $161,952 (10.0%) | 0.00 | 51 |
2022-04-01 | $135,000 (13.5%) | $169,936 (18.2%) | 0.00 | 51 |
2022-05-01 | $149,500 (15.9%) | $170,316 (14.4%) | 0.00 | 61 |
Ottumwa's median listing price comes in at 0% of the national average.
Ottumwa's average listing price for 2022-05-01 was $170,316, a difference of $21,477 (14.4%) versus the prior year and $380 versus the prior month.
For the 2022-05-01 period, Ottumwa had 61 MLS listings, a difference of 10 listings (20%) versus the prior month and -53 listings (-46%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ottumwa (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,296 sqft |
2018-02-01 | 0 days | 1,282 sqft |
2018-03-01 | 0 days | 1,292 sqft |
2018-04-01 | 0 days | 1,375 sqft |
2018-05-01 | 0 days | 1,338 sqft |
2018-06-01 | 0 days | 1,372 sqft |
2018-07-01 | 0 days | 1,331 sqft |
2018-08-01 | 0 days | 1,296 sqft |
2018-09-01 | 0 days | 1,328 sqft |
2018-10-01 | 0 days | 1,359 sqft |
2018-11-01 | 0 days | 1,422 sqft |
2018-12-01 | 0 days | 1,358 sqft |
2019-01-01 | 0 days | 1,376 sqft |
2019-02-01 | 0 days | 1,422 sqft |
2019-03-01 | 0 days | 1,468 sqft |
2019-04-01 | 0 days | 1,487 sqft |
2019-05-01 | 0 days | 1,482 sqft |
2019-06-01 | 0 days | 1,452 sqft |
2019-07-01 | 0 days | 1,468 sqft |
2019-08-01 | 0 days | 1,453 sqft |
2019-09-01 | 0 days | 1,460 sqft |
2019-10-01 | 0 days | 1,431 sqft |
2019-11-01 | 0 days | 1,447 sqft |
2019-12-01 | 0 days | 1,366 sqft |
2020-01-01 | 0 days | 1,438 sqft |
2020-02-01 | 0 days | 1,400 sqft |
2020-03-01 | 0 days | 1,400 sqft |
2020-04-01 | 0 days | 1,517 sqft |
2020-05-01 | 0 days | 1,476 sqft |
2020-06-01 | 0 days | 1,470 sqft |
2020-07-01 | 0 days | 1,474 sqft |
2020-08-01 | 0 days | 1,506 sqft |
2020-09-01 | 0 days | 1,500 sqft |
2020-10-01 | 0 days | 1,452 sqft |
2020-11-01 | 0 days | 1,458 sqft |
2020-12-01 | 0 days | 1,448 sqft |
2021-01-01 | 0 days | 1,444 sqft |
2021-02-01 | 0 days | 1,360 sqft |
2021-03-01 | 0 days | 1,316 sqft |
2021-04-01 | 0 days | 1,291 sqft |
2021-05-01 | 0 days | 1,346 sqft |
2021-06-01 | 0 days | 1,321 sqft |
2021-07-01 | 0 days | 1,280 sqft |
2021-08-01 | 0 days | 1,237 sqft |
2021-09-01 | 0 days | 1,264 sqft |
2021-10-01 | 0 days | 1,280 sqft |
2021-11-01 | 0 days | 1,242 sqft |
2021-12-01 | 0 days | 1,184 sqft |
2022-01-01 | 0 days | 1,158 sqft |
2022-02-01 | 0 days | 1,179 sqft |
2022-03-01 | 0 days | 1,332 sqft |
2022-04-01 | 0 days | 1,305 sqft |
2022-05-01 | 0 days | 1,350 sqft |
Ottumwa's median square footage for active listings during the 2022-05-01 period was 1,350 sqft. One year prior, the average listing was 1,346 sqft.