Channel response and impairment correlation estimates are iteratively determined. According to one embodiment of performing channel estimation for use in received signal processing, a channel response estimate is calculated based on an initial impairment correlations estimate and a measured channel response derived from a received signal. A revised impairment correlations estimate is calculated using a parametric approach based on the channel response estimate and the channel response estimate is recalculated based on the revised impairment correlations estimate. According to one embodiment of a wireless communication device, the device comprises a parameter estimation unit configured to iteratively calculate a medium channel response estimate based on a parametric impairment correlations estimate and a measured net channel response derived from a received signal. The wireless communication device also comprises circuitry configured to control how many times the parameter estimation unit calculates the medium channel response estimate.