Question 1

What are current mortgage rates in Iowa?

Accepted Answer

As of March 2026, mortgage rates in Iowa are in line with national averages. The 30-year fixed rate ranges from 6.5% to 7.2%, the 15-year fixed from 5.9% to 6.5%, and the 5/1 ARM from 5.8% to 6.4% for borrowers with good credit (700+). The best rates (starting at 6.5% for 30-year fixed) are available to borrowers with 750+ credit scores and 20%+ down payments.

Question 2

What is the Iowa housing market like?

Accepted Answer

Iowa's housing market is anchored by Des Moines, which has a diversified economy in insurance, finance, and agriculture. Iowa consistently ranks among the most affordable states in the nation. The Des Moines metro has seen above-average appreciation relative to the state's baseline. Iowa City and Cedar Rapids offer strong value for buyers seeking Midwest stability.

Question 3

How do I get the best mortgage rate in Iowa?

Accepted Answer

To get the best mortgage rate in Iowa, compare quotes from at least 3–5 lenders including local banks, credit unions, and online lenders. A credit score of 750 or higher, a down payment of 20% or more, and a low debt-to-income ratio will qualify you for the lowest rates. Use our Loan Finder tool to identify which loan type best fits your situation.

Mortgage Rates in Iowa Today

Current Rate Ranges in Iowa

Iowa Housing Market Overview