Today’s Refinance Rates in Iowa

Mortgage refinance can lower your monthly fees by reducing your interest rate or increasing your loan term. Iowa residents have an average monthly mortgage payment of $970 and an average outstanding mortgage debt of $131,494.

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Current Refinance Rates in Iowa

MoneyGeek compiled up-to-date refinance rates in Iowa to help you find the best rates for your needs and profile. You can compare the latest average rates in Iowa in the table below.

  • Type of Loan
    Rate
    APR
  • Conventional 30 Year Fixed
    5.258 %
    5.25 %
  • Conventional 20 Year Fixed
    5.384 %
    5.375 %
  • Conventional 15 Year Fixed
    4.646 %
    4.625 %
  • Conventional 10 Year ARM
    6.222 %
    5.75 %
  • Conventional 7 Year ARM
    6.34 %
    5.625 %
  • null 5 Year ARM
    6.55 %
    5.75 %
  • FHA 30 Year Fixed
    5.258 %
    5.25 %
  • VA 30 Year Fixed
    5.258 %
    5.25 %
  • FHA 15 Year Fixed
    4.646 %
    4.625 %
  • VA 15 Year Fixed
    4.646 %
    4.625 %
  • Jumbo 30 Year Fixed
    5.258 %
    5.25 %
  • Jumbo 15 Year Fixed
    4.646 %
    4.625 %
  • Jumbo 7 Year ARM
    6.34 %
    5.625 %
  • Jumbo 5 Year ARM
    6.55 %
    5.75 %

Mortgage Refinance Rates From Top Lenders

What Is a Good Refinance Rate in Iowa?

The current mortgage interest rates in Iowa are 4.26% for a 15-year FRM, 4.99% for a 30-year FRM and 4.02% for a 5/1 ARM. Compared to the national average rates of 4.45% for a 15-year FRM, 5.30% for a 30-year FRM and 4.19% for a 5/1 ARM, mortgage rates in Iowa are lower.

Since mortgage rates vary depending on factors like your income, credit score and loan amount, what constitutes a “good” rate is subjective. Comparing rates from different lenders is the best way to guarantee that you get the best rate for your profile and unique situation.

It’s also important to note that mortgage rates fluctuate daily, so the estimate you receive one day might be completely different a few days later.

Estimate Your New Monthly Mortgage Payment

To estimate your new monthly mortgage payment, you can use MoneyGeek’s mortgage calculator below. Simply input your mortgage information using the rates above to receive an estimate.

Note that rates fluctuate daily and will also depend on various personal factors, including credit score, mortgage term, loan amount and debt-to-income ratio.

Edit your mortgage details
$898
Total monthly payment$1,271
$898
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Total monthly payment$1,271

Frequently Asked Questions About Refinance Rates in Iowa

MoneyGeek answered some of the most commonly asked questions below to help you learn more about current mortgage refinance rates in Iowa.

Read More on Mortgages

sources
  • Federal Reserve Bank of St. Louis. "Mortgage Rates." Accessed July 12, 2022.