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.
Mortgage
Today’s Refinance Rates in Iowa
Updated: January 18, 2024
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Current Refinance Rates in Iowa
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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.
Mortgage Refinance Calculator in Iowa
Make sure refinancing your existing home loan will save you money.
Updated։ Jul 27, 2024
Fact Checked
You can’t save on your monthly payment or your mortgage interest by refinancing.
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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.
What is a good refinance rate in Iowa?
A good refinance rate depends on your profile and the current market rate. You can find the lowest rates by comparing offers from different lenders.
What is a bad refinance rate in Iowa?
A bad refinance rate in Iowa is one that is higher than your current mortgage rate.
What is a good refinance interest rate on a 30-year fixed-rate mortgage in Iowa?
A good rate should be around Iowa’s current refinance rate for a 30-year FRM of 4.99%.
What is a good refinance interest rate on a 15-year fixed-rate mortgage in Iowa?
The best refinance rates for a 15-year FRM should be close to the state’s current rate of 4.26%.
What is a good refinance interest rate on a 5/1 adjustable-rate mortgage in Iowa?
In Iowa, a good refinance rate for a 5/1 ARM should be similar to or less than 4.02%, the state’s current average rate.
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sources
- Federal Reserve Bank of St. Louis. "Mortgage Rates." Accessed July 12, 2022.