Aberdeen Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Aberdeen averaged 6.83% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

The average rate for the prior week (2024-04-11) was 6.61% and one month ago for the week of 2024-03-14, the average rate was 6.57%.

Aberdeen's average rate one year ago was 5.8%.

For refis of the same type during the week of 2024-04-18, the average rate was 7.2%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-04-18 7.1%
Aberdeen 30 Year Fixed Rate 2024-04-18 6.83%
Aberdeen 30 Year Fixed Rate Refi 2024-04-18 7.2%
Aberdeen 15 Year Fixed Rate 2024-04-18 6.29%
Aberdeen 15 Year Fixed Rate Refi 2024-04-18 6.59%
Aberdeen 30 Year FHA 2024-04-18 6.76%
Aberdeen 30 Year FHA Refi 2024-04-18 6.76%
Aberdeen 30 Year USDA 2024-04-18 6.76%
Aberdeen 30 Year USDA Refi 2024-04-18 6.86%
Aberdeen 30 Year VA 2024-04-18 6.86%
Aberdeen 30 Year VA Refi 2024-04-18 6.66%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Aberdeen, SD.

Aberdeen Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Aberdeen, SD market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Dacotah Bank 60 6.54% $4,020
American Bank & Trust 18 6.42% $4,732
Plains Commerce Bank 14 6.38% $5,396
CORTRUST MORTGAGE, INC. 11 6.32% $4,740
First Interstate Bank 8 6.72% $4,652
QUICKEN LOANS, LLC 6 7.10% $6,503
CROSSCOUNTRY MORTGAGE, LLC 5 6.73% $6,648
U.S. Bank 4 7.34% $2,896
First PREMIER Bank 4 6.81% $3,160
Goldwater Bank, N.A. 3 7.00% $6,091
Farm Credit Mid-America, ACA 3 6.83% $9,425
Wells Fargo Bank 3 6.50% $6,262
Ally Bank 2 6.31% $4,383
American Mortgage & Equity Consultants, Inc. 2 7.69% $8,345
First Dakota National Bank 2 6.87% $4,488
NEWREZ LLC 2 6.19% $3,924
USAA Federal Savings Bank 2 6.44% $5,138
First Savings Bank 1 6.50% $5,991
First Western Bank & Trust 1 6.25% $6,100
Flagstar Bank, FSB 1 6.61% $5,230
First Bank & Trust 1 6.00% $6,352
Heritage Bank 1 6.25% $6,071
IOWA BANKERS MORTGAGE CORPORATION 1 6.25% $2,240
JPMorgan Chase Bank 1 7.25% $3,487
Lincoln Savings Bank 1 5.63% $2,936
M&T Bank 1 6.25% $5,924
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.75% $6,919
NAVY FEDERAL CREDIT UNION 1 5.25% $2,676
Washington Trust Bank 1 6.75% $4,529
Oakstar Bank 1 6.50% $3,671
CU MORTGAGE DIRECT, LLC 1 6.63% $2,515
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $7,378
Century Mortgage Company DBA Century Lending Company 1 8.13% $10,352
TOWN AND COUNTRY Credit Union 1 5.99% $4,435
UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $6,071
AMERISAVE MORTGAGE CORPORATION 1 6.38% $29,645
BANKWEST, INC. 1 6.38% $4,620
First National Bank 1 6.88% $5,687
First Horizon Bank 1 6.63% $3,664

Aberdeen Average Closing Costs & Other Stats

Aberdeen, SD's 39 lenders originated 470 loans during 2023. The total origination value was $93,990,000, with an average loan value of $199,979.

Aberdeen's average closing costs are $4,863.

The top Aberdeen lender as defined by loan originations is Dacotah Bank, with 60 loans originated. Their average total fees are $4,020, which is $712 lower than the next largest lender, American Bank & Trust.

The lowest fee Aberdeen lenders (with over 10 loans originated) are Dacotah Bank ($4,020), American Bank & Trust ($4,732), CORTRUST MORTGAGE, INC. ($4,740), Plains Commerce Bank ($5,396) and .

The lowest rate Aberdeen lenders (with over 10 loans originated) are CORTRUST MORTGAGE, INC. (6.32%), Plains Commerce Bank (6.38%), American Bank & Trust (6.42%), Dacotah Bank (6.54%) and .

Aberdeen, SD Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Dacotah Bank $34,490,000 $21,075,000 -38.9% 22.4%
American Bank & Trust $24,490,000 $12,690,000 -48.2% 13.5%
Bank Midwest $11,095,000 $11,850,000 6.8% 12.6%
Plains Commerce Bank $19,495,000 $5,730,000 -70.6% 6.1%
CORTRUST MORTGAGE, INC. $10,710,000 $4,950,000 -53.8% 5.3%
First Interstate Bank $12,135,000 $4,310,000 -64.5% 4.6%
CorTrust Bank $7,935,000 $3,345,000 -57.8% 3.6%
QUICKEN LOANS, LLC $4,245,000 $2,665,000 -37.2% 2.8%
Mortgage Research Center, LLC $1,955,000 $2,245,000 14.8% 2.4%
U.S. Bank $4,910,000 $2,100,000 -57.2% 2.2%
CROSSCOUNTRY MORTGAGE, LLC $875,000 $2,075,000 137.1% 2.2%
American Mortgage & Equity Consultants, Inc. $1,990,000 n/a 2.1%
First PREMIER Bank $230,000 $1,415,000 515.2% 1.5%
Farm Credit Mid-America, ACA $3,035,000 $1,225,000 -59.6% 1.3%
GUARANTEED RATE, INC. $1,075,000 n/a 1.1%
Goldwater Bank, N.A. $7,320,000 $935,000 -87.2% 1.0%
USAA Federal Savings Bank $235,000 $880,000 274.5% 0.9%
First Bank & Trust $245,000 $775,000 216.3% 0.8%
BANKWEST, INC. $760,000 $715,000 -5.9% 0.8%
AMERISAVE MORTGAGE CORPORATION $1,055,000 $695,000 -34.1% 0.7%
Reliabank Dakota $1,550,000 $660,000 -57.4% 0.7%
PENNYMAC LOAN SERVICES, LLC $620,000 $620,000 0.0% 0.7%
First Dakota National Bank $175,000 $580,000 231.4% 0.6%
Wells Fargo Bank $4,605,000 $580,000 -87.4% 0.6%
The Federal Savings Bank $430,000 n/a 0.5%
BROKER SOLUTIONS, INC. $250,000 $395,000 58.0% 0.4%
PRIMELENDING, A PLAINSCAPITAL COMPANY $385,000 n/a 0.4%
NAVY FEDERAL CREDIT UNION $145,000 $380,000 162.1% 0.4%
CU MORTGAGE DIRECT, LLC $2,170,000 $370,000 -82.9% 0.4%
NEWREZ LLC $350,000 n/a 0.4%
POLARIS HOME FUNDING CORP. $350,000 n/a 0.4%
First Horizon Bank $305,000 n/a 0.3%
First Western Bank & Trust $305,000 n/a 0.3%
Oakstar Bank $305,000 n/a 0.3%
Century Mortgage Company DBA Century Lending Company $265,000 n/a 0.3%
UNITED WHOLESALE MORTGAGE, LLC $665,000 $265,000 -60.2% 0.3%
CITIZENS EQUITY FIRST $245,000 n/a 0.3%
First International Bank & Trust $290,000 $245,000 -15.5% 0.3%
First National Bank $145,000 $235,000 62.1% 0.3%
First Savings Bank $350,000 $235,000 -32.9% 0.3%
Mr. Cooper ( Nationstar Mortgage ) $475,000 $235,000 -50.5% 0.3%
IOWA BANKERS MORTGAGE CORPORATION $230,000 n/a 0.2%
Heritage Bank $145,000 $225,000 55.2% 0.2%
Ally Bank $220,000 n/a 0.2%
MID AMERICA MORTGAGE, INC. $415,000 $205,000 -50.6% 0.2%
Lincoln Savings Bank $195,000 n/a 0.2%
AgCountry Farm Credit Services, FLCA $175,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $470,000 $175,000 -62.8% 0.2%
Citizens Bank $525,000 $170,000 -67.6% 0.2%
TOWN AND COUNTRY Credit Union $315,000 $165,000 -47.6% 0.2%
CALIBER HOME LOANS, INC. $145,000 n/a 0.2%
Discover Bank $290,000 $145,000 -50.0% 0.2%
Coastal Community Bank $140,000 n/a 0.1%
FREEDOM MORTGAGE CORPORATION $1,125,000 $135,000 -88.0% 0.1%
M&T Bank $135,000 n/a 0.1%
Washington Trust Bank $135,000 n/a 0.1%
NOVATION CREDIT UNION $85,000 $125,000 47.1% 0.1%
Flagstar Bank, FSB $580,000 $105,000 -81.9% 0.1%
CNB Bank $95,000 n/a 0.1%
BLACK HILLS FEDERAL CREDIT UNION $85,000 n/a 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $75,000 n/a 0.1%
Truist $105,000 $75,000 -28.6% 0.1%
American State Bank $65,000 n/a 0.1%
JPMorgan Chase Bank $475,000 $55,000 -88.4% 0.1%
Figure Lending LLC $90,000 $45,000 -50.0% 0.0%
Northpointe Bank $125,000 $35,000 -72.0% 0.0%
RIVERLAND BANK $35,000 n/a 0.0%
FIRST COMMUNITY CREDIT UNION $185,000 $25,000 -86.5% 0.0%

Aberdeen's top lender by overall market share is Dacotah Bank, with 22.4% market share. In second place, with 13.5%, is American Bank & Trust, having originated $12,690,000 in loans. In third place, with 12.6%, is Bank Midwest, having originated $11,850,000 in loans. In fourth place, with 6.1%, is Plains Commerce Bank, having originated $5,730,000 in loans. In fifth place, with 5.3%, is CORTRUST MORTGAGE, INC., having originated $4,950,000 in loans.


Aberdeen Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Aberdeen (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $189,438 (-1.5%) $311,182 (42.1%) 0.00 159
2018-02-01 $189,900 (0.1%) $306,719 (40.6%) 0.00 161
2018-03-01 $212,500 (14.0%) $320,463 (52.7%) 0.00 154
2018-04-01 $201,150 (8.8%) $217,767 (-2.3%) 0.00 164
2018-05-01 $219,950 (10.3%) $236,529 (-0.3%) 0.00 175
2018-06-01 $224,500 (12.3%) $244,378 (-1.4%) 0.00 180
2018-07-01 $211,600 (1.0%) $238,603 (-7.4%) 0.00 182
2018-08-01 $192,050 (-3.0%) $224,777 (-19.3%) 0.00 193
2018-09-01 $194,900 (8.3%) $231,843 (-12.4%) 0.00 187
2018-10-01 $209,900 (17.6%) $229,849 (-12.8%) 0.00 179
2018-11-01 $204,900 (20.6%) $229,712 (-10.3%) 0.00 174
2018-12-01 $202,450 (7.1%) $224,738 (-17.3%) 0.00 149
2019-01-01 $198,675 (4.9%) $224,183 (-28.0%) 0.00 140
2019-02-01 $202,400 (6.6%) $224,940 (-26.7%) 0.00 136
2019-03-01 $194,214 (-8.6%) $220,274 (-31.3%) 0.00 135
2019-04-01 $190,439 (-5.3%) $219,937 (1.0%) 0.00 136
2019-05-01 $212,400 (-3.4%) $236,533 (0.0%) 0.00 143
2019-06-01 $188,900 (-15.9%) $229,881 (-5.9%) 0.00 153
2019-07-01 $179,900 (-15.0%) $230,261 (-3.5%) 0.00 164
2019-08-01 $175,809 (-8.5%) $223,407 (-0.6%) 0.00 180
2019-09-01 $169,673 (-12.9%) $221,876 (-4.3%) 0.00 193
2019-10-01 $166,082 (-20.9%) $222,097 (-3.4%) 0.00 198
2019-11-01 $164,900 (-19.5%) $224,996 (-2.1%) 0.00 175
2019-12-01 $159,000 (-21.5%) $218,883 (-2.6%) 0.00 157
2020-01-01 $157,950 (-20.5%) $225,141 (0.4%) 0.00 132
2020-02-01 $175,000 (-13.5%) $249,651 (11.0%) 0.00 121
2020-03-01 $192,700 (-0.8%) $244,074 (10.8%) 0.00 132
2020-04-01 $197,900 (3.9%) $246,304 (12.0%) 0.00 139
2020-05-01 $197,450 (-7.0%) $249,341 (5.4%) 0.00 140
2020-06-01 $175,450 (-7.1%) $237,079 (3.1%) 0.00 132
2020-07-01 $176,000 (-2.2%) $234,378 (1.8%) 0.00 117
2020-08-01 $162,000 (-7.9%) $228,428 (2.3%) 0.00 107
2020-09-01 $192,650 (13.5%) $240,789 (8.5%) 0.00 101
2020-10-01 $174,900 (5.3%) $221,927 (-0.1%) 0.00 107
2020-11-01 $172,350 (4.5%) $220,680 (-1.9%) 0.00 96
2020-12-01 $159,950 (0.6%) $210,217 (-4.0%) 0.00 85
2021-01-01 $159,900 (1.2%) $193,228 (-14.2%) 0.00 78
2021-02-01 $159,900 (-8.6%) $187,895 (-24.7%) 0.00 75
2021-03-01 $150,000 (-22.2%) $194,515 (-20.3%) 0.00 72
2021-04-01 $157,500 (-20.4%) $213,582 (-13.3%) 0.00 68
2021-05-01 $160,000 (-19.0%) $212,078 (-14.9%) 0.00 62
2021-06-01 $176,900 (0.8%) $212,972 (-10.2%) 0.00 65
2021-07-01 $191,200 (8.6%) $228,265 (-2.6%) 0.00 67
2021-08-01 $221,300 (36.6%) $256,875 (12.5%) 0.00 65
2021-09-01 $209,925 (9.0%) $251,741 (4.6%) 0.00 65
2021-10-01 $229,900 (31.5%) $261,400 (17.8%) 0.00 66
2021-11-01 $223,400 (29.6%) $263,911 (19.6%) 0.00 59
2021-12-01 $232,675 (45.5%) $265,257 (26.2%) 0.00 54
2022-01-01 $255,000 (59.5%) $281,741 (45.8%) 0.00 31
2022-02-01 $267,450 (67.3%) $307,565 (63.7%) 0.00 29
2022-03-01 $217,450 (45.0%) $297,349 (52.9%) 0.00 30
2022-04-01 $259,950 (65.1%) $286,700 (34.2%) 0.00 37
2022-05-01 $242,200 (51.4%) $261,536 (23.3%) 0.00 39
2022-06-01 $224,425 (26.9%) $266,144 (25.0%) 0.00 59
2022-07-01 $235,325 (23.1%) $263,331 (15.4%) 0.00 47
2022-08-01 $259,750 (17.4%) $294,765 (14.8%) 0.00 53
2022-09-01 $217,675 (3.7%) $276,873 (10.0%) 0.00 48
2022-10-01 $209,900 (-8.7%) $259,504 (-0.7%) 0.00 50
2022-11-01 $210,950 (-5.6%) $260,205 (-1.4%) 0.00 42
2022-12-01 $204,900 (-11.9%) $262,098 (-1.2%) 0.00 41
2023-01-01 $207,400 (-18.7%) $265,979 (-5.6%) 0.00 33
2023-02-01 $209,950 (-21.5%) $266,073 (-13.5%) 0.00 33
2023-03-01 $238,075 (9.5%) $268,077 (-9.8%) 0.00 35
2023-04-01 $272,500 (4.8%) $317,249 (10.7%) 0.00 56
2023-05-01 $285,725 (18.0%) $317,951 (21.6%) 0.00 59
2023-06-01 $274,700 (22.4%) $301,630 (13.3%) 0.00 63
2023-07-01 $259,900 (10.4%) $301,513 (14.5%) 0.00 73
2023-08-01 $254,450 (-2.0%) $318,940 (8.2%) 0.00 71
2023-09-01 $299,450 (37.6%) $342,510 (23.7%) 0.00 73
2023-10-01 $244,300 (16.4%) $324,711 (25.1%) 0.00 103
2023-11-01 $240,825 (14.2%) $304,859 (17.2%) 0.00 136
2023-12-01 $234,900 (14.6%) $307,485 (17.3%) 0.00 89
2024-01-01 $208,600 (0.6%) $271,375 (2.0%) 0.00 78
2024-02-01 $197,100 (-6.1%) $261,881 (-1.6%) 0.00 73
2024-03-01 $207,450 (-12.9%) $277,876 (3.7%) 0.00 76
Aberdeen's median listing price for 2024-03-01 was $207,450, a difference of $-30,625 (-12.9%) versus the prior year and $10,350 versus the prior month.

Aberdeen's median listing price comes in at 0% of the national average.

Aberdeen's average listing price for 2024-03-01 was $277,876, a difference of $9,799 (3.7%) versus the prior year and $15,995 versus the prior month.

For the 2024-03-01 period, Aberdeen had 76 MLS listings, a difference of 3 listings (4%) versus the prior month and 41 listings (117%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Aberdeen (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,110 sqft
2018-02-01 0 days 2,152 sqft
2018-03-01 0 days 2,225 sqft
2018-04-01 0 days 2,169 sqft
2018-05-01 0 days 2,200 sqft
2018-06-01 0 days 2,272 sqft
2018-07-01 0 days 2,199 sqft
2018-08-01 0 days 2,184 sqft
2018-09-01 0 days 2,272 sqft
2018-10-01 0 days 2,196 sqft
2018-11-01 0 days 2,188 sqft
2018-12-01 0 days 2,156 sqft
2019-01-01 0 days 2,131 sqft
2019-02-01 0 days 2,150 sqft
2019-03-01 0 days 2,130 sqft
2019-04-01 0 days 2,125 sqft
2019-05-01 0 days 2,232 sqft
2019-06-01 0 days 2,244 sqft
2019-07-01 0 days 2,180 sqft
2019-08-01 0 days 2,139 sqft
2019-09-01 0 days 2,126 sqft
2019-10-01 0 days 2,123 sqft
2019-11-01 0 days 2,150 sqft
2019-12-01 0 days 2,170 sqft
2020-01-01 0 days 2,192 sqft
2020-02-01 0 days 2,360 sqft
2020-03-01 0 days 2,414 sqft
2020-04-01 0 days 2,376 sqft
2020-05-01 0 days 2,362 sqft
2020-06-01 0 days 2,347 sqft
2020-07-01 0 days 2,392 sqft
2020-08-01 0 days 2,240 sqft
2020-09-01 0 days 2,509 sqft
2020-10-01 0 days 2,496 sqft
2020-11-01 0 days 2,431 sqft
2020-12-01 0 days 2,235 sqft
2021-01-01 0 days 2,146 sqft
2021-02-01 0 days 2,128 sqft
2021-03-01 0 days 2,142 sqft
2021-04-01 0 days 2,133 sqft
2021-05-01 0 days 2,228 sqft
2021-06-01 0 days 2,146 sqft
2021-07-01 0 days 2,148 sqft
2021-08-01 0 days 2,422 sqft
2021-09-01 0 days 2,357 sqft
2021-10-01 0 days 2,478 sqft
2021-11-01 0 days 2,365 sqft
2021-12-01 0 days 2,429 sqft
2022-01-01 0 days 2,478 sqft
2022-02-01 0 days 2,660 sqft
2022-03-01 0 days 2,327 sqft
2022-04-01 0 days 2,250 sqft
2022-05-01 0 days 2,272 sqft
2022-06-01 0 days 2,188 sqft
2022-07-01 0 days 2,280 sqft
2022-08-01 0 days 2,536 sqft
2022-09-01 0 days 2,258 sqft
2022-10-01 0 days 2,250 sqft
2022-11-01 0 days 2,202 sqft
2022-12-01 0 days 2,177 sqft
2023-01-01 0 days 2,227 sqft
2023-02-01 0 days 2,283 sqft
2023-03-01 0 days 2,261 sqft
2023-04-01 0 days 2,245 sqft
2023-05-01 0 days 2,251 sqft
2023-06-01 0 days 2,189 sqft
2023-07-01 0 days 2,060 sqft
2023-08-01 0 days 2,207 sqft
2023-09-01 0 days 2,298 sqft
2023-10-01 0 days 2,257 sqft
2023-11-01 0 days 2,236 sqft
2023-12-01 0 days 2,236 sqft
2024-01-01 0 days 2,052 sqft
2024-02-01 0 days 2,092 sqft
2024-03-01 0 days 2,092 sqft
Aberdeen's median listing age (time on market) for 2024-03-01 was 0 days.

Aberdeen's median square footage for active listings during the 2024-03-01 period was 2,092 sqft. One year prior, the average listing was 2,261 sqft.

Aberdeen, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 336 $67,580,000 $201,131
Home Improvement 41 $3,085,000 $75,244
Refi 38 $16,400,000 $431,579
Cash Out Refi 29 $5,035,000 $173,621
Other 26 $1,890,000 $72,692

Aberdeen's most frequently cited loan purpose was Home Purchase, with 336 originations. The 2nd most popular reason was Home Improvement, with 41 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 171 $39,055,000 $228,392
7-8% 113 $19,565,000 $173,142
5-6% 71 $13,625,000 $191,901
Over 8% 69 $5,885,000 $85,290
2.5-3% 6 $150,000 $25,000
4-5% 2 $310,000 $155,000
3-4% 1 $75,000 $75,000

During 2023, Aberdeen's most frequently originated rate bucket was 6-7%, with 171 originations.

Loan Sizing (Aberdeen, SD MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 156 $23,620,000 $151,410
$100,000 or less 147 $7,835,000 $53,299
$200k-400k 146 $39,010,000 $267,192
$400k-600k 13 $5,825,000 $448,077
$600k-1000k 5 $3,395,000 $679,000
$Over $1MM 3 $14,305,000 $4,768,333

Aberdeen's loan sizing saw the bucket of loans from $100k-200k with 156 originations, totaling $23,620,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 194 $40,610,000 $209,330
60-80% 112 $25,300,000 $225,893
20-40% 40 $3,330,000 $83,250
40-60% 40 $6,070,000 $151,750
Under 20% 40 $1,330,000 $33,250
Over 100% 7 $2,025,000 $289,286

Aberdeen's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 194 originations, totaling $40,610,000 in origination value.