It’s been a couple of weeks since the last time I posted an update about the recent trends in Iowa mortgage rates.  This week I posted both the 30-year and 15-year fixed rate mortgages.  Notice that while the 15-year and 30 year rates seem to follow each other up and down the rate scale, they aren’t necessarily tied together.  See the size-able dip 15-year notes took towards the end of January while 30-year rates continued a slow, steady climb in that same time frame.

Graph courtesy of BankRate.com

Of course, these are averages for 30-year and 15-year fixed rate mortgages.  Local rates can, and do, vary on not only a daily, but frequently an hourly basis.  Check with your favorite local banks or credit unions to get local rate quotes. 

If you haven’t already been working with a bank or credit union or even a mortgage broker, I do have access to in in-house mortgage lender at Ruhl & Ruhl with 1862 Mortgage.  1862′s local rep, Ashley Schrempf would be more than happy to quote you current rates as well as pre-qualify you if you may be in the market for a home loan in the near futute.