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Iowa

Current Iowa Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in Iowa. Review free, personalized mortgage rates for Iowa based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Iowa. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates for Iowa as of December 11, 2019
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Get Personalized Mortgage Quotes for Iowa

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Iowa Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Iowa is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Iowa Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Iowa?

The median home value for Iowa is $155,008

The median household income for Iowa is $59,075

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Iowa is $28,759

The home price you can afford to buy based on household income in Iowa is 205% of the median home value which means housing prices are super affordable. Iowa ranks 1 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Iowa is super affordable

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Additional Mortgage Resources for Iowa Residents

Mortgage Rates for Iowa Cities

Adel Mortgage Rates

Ames Mortgage Rates

Cedar Rapids Mortgage Rates

Council Bluffs Mortgage Rates

Davenport Mortgage Rates

Dubuque Mortgage Rates

Iowa City Mortgage Rates

Polk Mortgage Rates

Sioux City Mortgage Rates

Waterloo Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

FREEandCLEAR Housing Affordability Index