BISMARCK Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bismarck averaged
6.4%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.33% and
one month ago for the week of 2024-10-03, the
average rate was 5.73%.
Bismarck's average rate one year ago was 7.17%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Bismarck 30 Year Fixed Rate | 2024-11-07 | 6.4% |
| Bismarck 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Bismarck 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Bismarck 15 Year Fixed Rate Refi | 2024-11-07 | 6.5% |
| Bismarck 30 Year FHA | 2024-11-07 | 5.94% |
| Bismarck 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Bismarck 30 Year USDA | 2024-11-07 | 6.48% |
| Bismarck 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Bismarck 30 Year VA | 2024-11-07 | 6.29% |
| Bismarck 30 Year VA Refi | 2024-11-07 | 6.44% |
BISMARCK 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 BISMARCK, ND 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.).
BISMARCK Average Closing Costs & Other Stats
BISMARCK, ND's 60 lenders originated 2,429
loans during 2023. The total origination value was $650,595,000, with an average loan value of
$267,845.
BISMARCK's average closing costs are $5,371.
The top BISMARCK lender as defined by loan originations is Gate City Bank, with
187 loans originated. Their average total fees are
$5,754, which is $183
higher than the next largest lender,
Dakota Community Bank & Trust.
The lowest fee BISMARCK lenders (with over 10 loans originated) are
U.S. Bank ($3,152), UNITED WHOLESALE MORTGAGE, LLC ($3,415), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($4,053), CAPITAL CREDIT UNION ($5,031) and American Bank Center ($5,104).
The lowest rate BISMARCK lenders (with over 10 loans originated) are
Starion Bank (5.61%), Gate City Bank (6.07%), FIRST COMMUNITY CREDIT UNION (6.16%), Choice Financial Group (6.23%) and First Western Bank & Trust (6.24%).
BISMARCK, ND 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 |
|---|---|---|---|---|
| Gate City Bank | $151,715,000 | $100,700,000 | -33.6% | 15.5% |
| CAPITAL CREDIT UNION | $75,960,000 | $55,015,000 | -27.6% | 8.5% |
| Security First Bank of North Dakota | $7,820,000 | $51,990,000 | 564.8% | 8.0% |
| First International Bank & Trust | $63,400,000 | $36,530,000 | -42.4% | 5.6% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $59,450,000 | $35,905,000 | -39.6% | 5.5% |
| Dakota Community Bank & Trust | $42,660,000 | $35,250,000 | -17.4% | 5.4% |
| Starion Bank | $29,410,000 | $23,670,000 | -19.5% | 3.6% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $19,965,000 | $23,360,000 | 17.0% | 3.6% |
| Choice Financial Group | $26,320,000 | $21,695,000 | -17.6% | 3.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $22,735,000 | $21,630,000 | -4.9% | 3.3% |
| FIRST COMMUNITY CREDIT UNION | $12,250,000 | $18,665,000 | 52.4% | 2.9% |
| First Western Bank & Trust | $40,550,000 | $16,460,000 | -59.4% | 2.5% |
| American Bank Center | $36,365,000 | $16,445,000 | -54.8% | 2.5% |
| Kirkwood Bank & Trust Co. | $23,370,000 | $15,885,000 | -32.0% | 2.4% |
| GUARANTEED RATE, INC. | $24,265,000 | $13,545,000 | -44.2% | 2.1% |
| Dacotah Bank | $880,000 | $13,400,000 | 1,422.7% | 2.1% |
| BNC National Bank | $24,160,000 | $11,280,000 | -53.3% | 1.7% |
| QUICKEN LOANS, LLC | $25,815,000 | $10,270,000 | -60.2% | 1.6% |
| U.S. Bank | $13,505,000 | $9,995,000 | -26.0% | 1.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $9,475,000 | $9,820,000 | 3.6% | 1.5% |
| Flagstar Bank, FSB | $12,710,000 | $8,625,000 | -32.1% | 1.3% |
| RAILWAY CREDIT UNION | $6,410,000 | $7,235,000 | 12.9% | 1.1% |
| Old National Bank | $6,125,000 | n/a | 0.9% | |
| VUE COMMUNITY CREDIT UNION | $8,830,000 | $5,035,000 | -43.0% | 0.8% |
| Bank of England | $7,530,000 | $4,940,000 | -34.4% | 0.8% |
| Mortgage Research Center, LLC | $5,615,000 | $4,925,000 | -12.3% | 0.8% |
| SeaTrust Mortgage Company | $4,295,000 | n/a | 0.7% | |
| Wells Fargo Bank | $9,180,000 | $3,605,000 | -60.7% | 0.6% |
| NEWREZ LLC | $3,360,000 | $3,365,000 | 0.1% | 0.5% |
| Citizens Bank | $7,130,000 | $3,190,000 | -55.3% | 0.5% |
| JPMorgan Chase Bank | $2,765,000 | $2,990,000 | 8.1% | 0.5% |
| Bremer Bank | $9,585,000 | $2,855,000 | -70.2% | 0.4% |
| Cornerstone Bank | $3,390,000 | $2,850,000 | -15.9% | 0.4% |
| Plains Commerce Bank | $11,615,000 | $2,770,000 | -76.2% | 0.4% |
| The Huntington National Bank | $5,280,000 | $2,345,000 | -55.6% | 0.4% |
| Bell Bank | $1,655,000 | $1,940,000 | 17.2% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $7,235,000 | $1,760,000 | -75.7% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $940,000 | $1,515,000 | 61.2% | 0.2% |
| LOANDEPOT.COM, LLC | $4,810,000 | $1,460,000 | -69.6% | 0.2% |
| USAA Federal Savings Bank | $2,210,000 | $1,270,000 | -42.5% | 0.2% |
| NBKC BANK | $1,185,000 | n/a | 0.2% | |
| First Federal Bank | $1,135,000 | n/a | 0.2% | |
| TOWN AND COUNTRY Credit Union | $1,970,000 | $1,085,000 | -44.9% | 0.2% |
| MID AMERICA MORTGAGE, INC. | $670,000 | $1,080,000 | 61.2% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $2,105,000 | $985,000 | -53.2% | 0.2% |
| BMO Harris Bank | $920,000 | n/a | 0.1% | |
| American Federal Bank | $905,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $1,960,000 | $875,000 | -55.4% | 0.1% |
| FREEDOM MORTGAGE CORPORATION | $4,620,000 | $840,000 | -81.8% | 0.1% |
| DIGITAL Federal Credit Union | $775,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $760,000 | n/a | 0.1% | |
| Hometown Credit Union | $275,000 | $755,000 | 174.5% | 0.1% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $175,000 | $730,000 | 317.1% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $3,385,000 | $685,000 | -79.8% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $625,000 | $685,000 | 9.6% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $680,000 | n/a | 0.1% | |
| Unify Home Lending Inc. | $1,340,000 | $645,000 | -51.9% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $490,000 | $615,000 | 25.5% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,190,000 | $585,000 | -50.8% | 0.1% |
| Figure Lending LLC | $55,000 | $570,000 | 936.4% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $560,000 | n/a | 0.1% | |
| TOWNE MORTGAGE COMPANY | $540,000 | n/a | 0.1% | |
| First Bank & Trust | $515,000 | n/a | 0.1% | |
| Discover Bank | $570,000 | $505,000 | -11.4% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $505,000 | n/a | 0.1% | |
| Truist | $1,845,000 | $505,000 | -72.6% | 0.1% |
| 21ST MORTGAGE CORPORATION | $1,205,000 | $450,000 | -62.7% | 0.1% |
| Armed Forces Bank | $445,000 | n/a | 0.1% | |
| Flanagan State Bank | $445,000 | n/a | 0.1% | |
| AMCAP MORTGAGE, LTD. | $665,000 | $435,000 | -34.6% | 0.1% |
| BAY EQUITY LLC | $185,000 | $430,000 | 132.4% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $345,000 | $425,000 | 23.2% | 0.1% |
| BETTER MORTGAGE CORPORATION | $2,105,000 | $415,000 | -80.3% | 0.1% |
| Merchants Bank | $515,000 | $405,000 | -21.4% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $255,000 | $400,000 | 56.9% | 0.1% |
| Alerus Financial | $650,000 | $385,000 | -40.8% | 0.1% |
| ZILLOW HOME LOANS, LLC | $540,000 | $385,000 | -28.7% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $365,000 | n/a | 0.1% | |
| Home State Bank | $365,000 | n/a | 0.1% | |
| Ally Bank | $305,000 | n/a | 0.0% | |
| Bank Forward | $145,000 | $305,000 | 110.3% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $305,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $295,000 | n/a | 0.0% | |
| Opportunity Bank of Montana | $285,000 | n/a | 0.0% | |
| WESTERN COOPERATIVE CREDIT UNION | $575,000 | $285,000 | -50.4% | 0.0% |
| West Gate Bank | $275,000 | n/a | 0.0% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $265,000 | n/a | 0.0% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,070,000 | $265,000 | -75.2% | 0.0% |
| BROKER SOLUTIONS, INC. | $1,360,000 | $255,000 | -81.3% | 0.0% |
| Citibank | $235,000 | n/a | 0.0% | |
| NEXERA HOLDING LLC | $225,000 | n/a | 0.0% | |
| Fortress Bank | $205,000 | n/a | 0.0% | |
| CHURCHILL MORTGAGE CORPORATION | $195,000 | n/a | 0.0% | |
| CRESCENT MORTGAGE COMPANY | $185,000 | $185,000 | 0.0% | 0.0% |
| TOTAL MORTGAGE SERVICES, LLC | $185,000 | n/a | 0.0% | |
| Unison Bank | $175,000 | n/a | 0.0% | |
| VALLEY MORTGAGE, INC. | $680,000 | $165,000 | -75.7% | 0.0% |
| Bank of America | $495,000 | $160,000 | -67.7% | 0.0% |
| Equity Prime Mortgage LLC | $235,000 | $145,000 | -38.3% | 0.0% |
| Coastal Community Bank | $140,000 | n/a | 0.0% | |
| BANKWEST, INC. | $55,000 | $120,000 | 118.2% | 0.0% |
| PNC Bank | $390,000 | $110,000 | -71.8% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $100,000 | n/a | 0.0% | |
| Connexus Credit Union | $95,000 | n/a | 0.0% | |
| OPEN MORTGAGE, LLC | $65,000 | n/a | 0.0% |
BISMARCK's top lender by overall market share is Gate City Bank, with 15.5% market share. In second place, with 8.5%, is CAPITAL CREDIT UNION, having originated $55,015,000 in loans. In third place, with 8.0%, is Security First Bank of North Dakota, having originated $51,990,000 in loans. In fourth place, with 5.6%, is First International Bank & Trust, having originated $36,530,000 in loans. In fifth place, with 5.5%, is BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC, having originated $35,905,000 in loans.
BISMARCK, ND Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 58477 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58494 | Bismarck, ND MSA | $820 | $930 | $1,060 | $1,510 | $1,800 |
| 58501 | Bismarck, ND MSA | $710 | $810 | $920 | $1,310 | $1,570 |
| 58502 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58503 | Bismarck, ND MSA | $810 | $910 | $1,040 | $1,480 | $1,770 |
| 58504 | Bismarck, ND MSA | $700 | $790 | $900 | $1,280 | $1,530 |
| 58505 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58506 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58507 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58520 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58521 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58523 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58524 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58530 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58532 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58535 | Bismarck, ND MSA | $710 | $810 | $920 | $1,310 | $1,570 |
| 58545 | Bismarck, ND MSA | $760 | $860 | $980 | $1,390 | $1,670 |
| 58554 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58558 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58560 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58563 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58566 | Bismarck, ND MSA | $710 | $810 | $920 | $1,310 | $1,570 |
| 58569 | Bismarck, ND MSA | $710 | $810 | $920 | $1,310 | $1,570 |
| 58570 | Bismarck, ND MSA | $710 | $810 | $920 | $1,310 | $1,570 |
| 58571 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58572 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58579 | Bismarck, ND MSA | $720 | $820 | $930 | $1,320 | $1,580 |
| 58631 | Bismarck, ND MSA | $660 | $720 | $830 | $1,170 | $1,410 |
| 58638 | Bismarck, ND MSA | $660 | $750 | $850 | $1,210 | $1,450 |
2022 Average & Median Rent Data Statistics
BISMARCK, ND average 1BR rent: $802, median: $820
BISMARCK, ND average 2BR rent: $914, median: $930
BISMARCK, ND average 3BR rent: $1,297, median: $1,320
BISMARCK, ND Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,471 | $441,595,000 | $300,201 |
| Other | 332 | $26,870,000 | $80,934 |
| Home Improvement | 275 | $23,035,000 | $83,764 |
| Refi | 206 | $129,300,000 | $627,670 |
| Cash Out Refi | 145 | $29,795,000 | $205,483 |
Bismarck's most frequently cited loan purpose was Home Purchase, with 1,471 originations. The 2nd most popular reason was Other, with 332 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 876 | $224,430,000 | $256,199 |
| 7-8% | 476 | $124,480,000 | $261,513 |
| 5-6% | 430 | $113,420,000 | $263,767 |
| Over 8% | 348 | $36,860,000 | $105,920 |
| 4-5% | 45 | $17,785,000 | $395,222 |
| 3-4% | 31 | $11,675,000 | $376,613 |
| 2.5-3% | 8 | $1,240,000 | $155,000 |
| <2.5% | 2 | $780,000 | $390,000 |
During 2023, Bismarck's most frequently originated rate bucket was 6-7%, with 876 originations.
Loan Sizing (BISMARCK, ND MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 919 | $257,885,000 | $280,615 |
| $100,000 or less | 681 | $34,965,000 | $51,344 |
| $100k-200k | 526 | $79,240,000 | $150,646 |
| $400k-600k | 209 | $97,785,000 | $467,871 |
| $600k-1000k | 74 | $52,510,000 | $709,595 |
| $Over $1MM | 20 | $128,210,000 | $6,410,500 |
BISMARCK's loan sizing saw the bucket of loans from $200k-400k with 919 originations, totaling $257,885,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 912 | $278,300,000 | $305,154 |
| Under 20% | 443 | $23,705,000 | $53,510 |
| 60-80% | 372 | $137,900,000 | $370,699 |
| 20-40% | 277 | $33,545,000 | $121,101 |
| 40-60% | 180 | $47,480,000 | $263,778 |
| Over 100% | 27 | $44,975,000 | $1,665,741 |
BISMARCK's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 912 originations, totaling $278,300,000 in origination value.