Pierre Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Pierre averaged 6.6% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

    The average rate for the prior week (2023-09-14) was 6.79% and one month ago for the week of 2023-08-17, the average rate was 6.5%.

    Pierre's average rate one year ago was 5.33%.

    For refis of the same type during the week of 2023-09-21, the average rate was 7.69%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-21 7.19%
    Pierre 30 Year Fixed Rate 2023-09-21 6.6%
    Pierre 30 Year Fixed Rate Refi 2023-09-21 7.69%
    Pierre 15 Year Fixed Rate 2023-09-21 6.44%
    Pierre 15 Year Fixed Rate Refi 2023-09-21 7.04%
    Pierre 30 Year FHA 2023-09-21 6.84%
    Pierre 30 Year FHA Refi 2023-09-21 7.34%
    Pierre 30 Year USDA 2023-09-21 7.22%
    Pierre 30 Year USDA Refi 2023-09-21 7.12%
    Pierre 30 Year VA 2023-09-21 7.02%
    Pierre 30 Year VA Refi 2023-09-21 6.72%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Pierre, SD.

    Pierre 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 Pierre, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    BANKWEST, INC. 51 4.85% $5,384
    First National Bank 16 5.27% $4,891
    American Bank & Trust 15 4.77% $4,598
    First Dakota National Bank 14 4.65% $2,751
    BLACK HILLS FEDERAL CREDIT UNION 11 4.21% $5,496
    QUICKEN LOANS, LLC 8 4.87% $5,130
    Wells Fargo Bank 7 5.14% $5,087
    U.S. Bank 5 4.13% $2,890
    Plains Commerce Bank 3 4.16% $5,243
    The Federal Savings Bank 3 5.04% $3,953
    CORTRUST MORTGAGE, INC. 3 4.83% $4,923
    Gateway First Bank 3 4.25% $2,780
    Dacotah Bank 2 4.94% $3,765
    LOANDEPOT.COM, LLC 2 3.87% $6,826
    Mr. Cooper ( Nationstar Mortgage ) 2 4.87% $7,570
    PENNYMAC LOAN SERVICES, LLC 2 4.12% $8,517
    First PREMIER Bank 2 4.00% $5,841
    CMG MORTGAGE, INC. 1 6.63% $11,071
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $3,664
    CITIZENS EQUITY FIRST 1 3.50% $3,538
    Farm Credit Mid-America, ACA 1 5.75% $4,861
    FINANCE OF AMERICA MORTGAGE LLC 1 5.13% $8,622
    CU MORTGAGE DIRECT, LLC 1 5.25% $6,505
    First Guaranty Mortgage Corporation 1 4.88% $3,208
    First Interstate Bank 1 6.13% $3,443
    FREEDOM MORTGAGE CORPORATION 1 3.25% $8,446
    GUARANTEED RATE, INC. 1 3.25% $11,111
    HIWAY 1 2.75% $1,517
    HOMESTAR FINANCIAL CORPORATION 1 6.63% $7,711

    Pierre Average Closing Costs & Other Stats

    Pierre, SD's 29 lenders originated 412 loans during 2022. The total origination value was $100,850,000, with an average loan value of $244,782.

    Pierre's average closing costs are $4,562.

    The top Pierre lender as defined by loan originations is BANKWEST, INC., with 51 loans originated. Their average total fees are $5,384, which is $492 higher than the next largest lender, First National Bank.

    The lowest fee Pierre lenders (with over 10 loans originated) are First Dakota National Bank ($2,751), American Bank & Trust ($4,598), First National Bank ($4,891), BANKWEST, INC. ($5,384) and BLACK HILLS FEDERAL CREDIT UNION ($5,496).

    The lowest rate Pierre lenders (with over 10 loans originated) are BLACK HILLS FEDERAL CREDIT UNION (4.21%), First Dakota National Bank (4.65%), American Bank & Trust (4.77%), BANKWEST, INC. (4.85%) and First National Bank (5.27%).

    Pierre, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    BANKWEST, INC. $41,245,000 $25,605,000 -37.9% 25.4%
    American Bank & Trust $16,985,000 $20,175,000 18.8% 20.0%
    First National Bank $20,185,000 $9,660,000 -52.1% 9.6%
    First Dakota National Bank $13,205,000 $6,450,000 -51.2% 6.4%
    BLACK HILLS FEDERAL CREDIT UNION $4,975,000 $5,400,000 8.5% 5.4%
    QUICKEN LOANS, LLC $7,455,000 $2,705,000 -63.7% 2.7%
    Wells Fargo Bank $3,365,000 $2,550,000 -24.2% 2.5%
    U.S. Bank $1,945,000 $2,245,000 15.4% 2.2%
    First PREMIER Bank $1,790,000 $2,030,000 13.4% 2.0%
    Plains Commerce Bank $3,285,000 $1,980,000 -39.7% 2.0%
    The Federal Savings Bank $1,505,000 $1,725,000 14.6% 1.7%
    Mortgage Research Center, LLC $1,895,000 $1,615,000 -14.8% 1.6%
    Gateway First Bank $990,000 $1,175,000 18.7% 1.2%
    HOMESTAR FINANCIAL CORPORATION $3,755,000 $1,015,000 -73.0% 1.0%
    CORTRUST MORTGAGE, INC. $615,000 $975,000 58.5% 1.0%
    UNITED WHOLESALE MORTGAGE, LLC $895,000 $895,000 0.0% 0.9%
    GUARANTEED RATE, INC. $75,000 $845,000 1,026.7% 0.8%
    FREEDOM MORTGAGE CORPORATION $3,390,000 $800,000 -76.4% 0.8%
    LOANDEPOT.COM, LLC $1,175,000 $780,000 -33.6% 0.8%
    PENNYMAC LOAN SERVICES, LLC $575,000 $670,000 16.5% 0.7%
    First Interstate Bank $225,000 $550,000 144.4% 0.5%
    USAA Federal Savings Bank $255,000 $550,000 115.7% 0.5%
    MID AMERICA MORTGAGE, INC. $540,000 n/a 0.5%
    SERVICE FIRST FEDERAL CREDIT UNION $485,000 n/a 0.5%
    Dacotah Bank $480,000 n/a 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,015,000 $480,000 -52.7% 0.5%
    HIWAY $470,000 n/a 0.5%
    NBKC BANK $435,000 n/a 0.4%
    NEW DAY FINANCIAL, LLC $840,000 $405,000 -51.8% 0.4%
    CU MORTGAGE DIRECT, LLC $495,000 $365,000 -26.3% 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $135,000 $350,000 159.3% 0.3%
    CITIZENS EQUITY FIRST $345,000 n/a 0.3%
    North American Savings Bank, F.S.B. $520,000 $345,000 -33.7% 0.3%
    AMERISAVE MORTGAGE CORPORATION $830,000 $335,000 -59.6% 0.3%
    NEWREZ LLC $145,000 $330,000 127.6% 0.3%
    Pioneer Bank & Trust $325,000 n/a 0.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $315,000 n/a 0.3%
    Farm Credit Mid-America, ACA $710,000 $300,000 -57.7% 0.3%
    Flagstar Bank, FSB $830,000 $290,000 -65.1% 0.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $285,000 n/a 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $315,000 $275,000 -12.7% 0.3%
    SOUTHWEST STAGE FUNDING, LLC $265,000 n/a 0.3%
    First Bank & Trust $810,000 $260,000 -67.9% 0.3%
    CHURCHILL MORTGAGE CORPORATION $255,000 n/a 0.3%
    GUARANTY HOME MORTGAGE CORPORATION $255,000 n/a 0.3%
    AMERICAN FINANCING CORPORATION $245,000 n/a 0.2%
    CMG MORTGAGE, INC. $335,000 $235,000 -29.9% 0.2%
    ZILLOW HOME LOANS, LLC $335,000 $225,000 -32.8% 0.2%
    First International Bank & Trust $340,000 $205,000 -39.7% 0.2%
    CALIBER HOME LOANS, INC. $265,000 $195,000 -26.4% 0.2%
    First Guaranty Mortgage Corporation $195,000 n/a 0.2%
    The Huntington National Bank $195,000 n/a 0.2%
    BROKER SOLUTIONS, INC. $175,000 n/a 0.2%
    Arvest Bank $155,000 n/a 0.2%
    FINANCE OF AMERICA MORTGAGE LLC $155,000 n/a 0.2%
    Nations Lending Corporation $125,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $95,000 n/a 0.1%
    Security First Bank $65,000 n/a 0.1%

    Pierre's top lender by overall market share is BANKWEST, INC., with 25.4% market share. In second place, with 20.0%, is American Bank & Trust, having originated $20,175,000 in loans. In third place, with 9.6%, is First National Bank, having originated $9,660,000 in loans. In fourth place, with 6.4%, is First Dakota National Bank, having originated $6,450,000 in loans. In fifth place, with 5.4%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $5,400,000 in loans.

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

    Realtor.com - Pierre (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 $188,000 (-7.4%) $245,261 (-8.7%) 0.00 100
    2018-02-01 $192,375 (-5.7%) $247,617 (-5.2%) 0.00 106
    2018-03-01 $188,500 (-3.3%) $245,282 (-0.8%) 0.00 110
    2018-04-01 $203,125 (-3.3%) $255,891 (1.4%) 0.00 121
    2018-05-01 $211,500 (5.8%) $259,444 (1.8%) 0.00 124
    2018-06-01 $197,800 (3.8%) $257,158 (3.9%) 0.00 118
    2018-07-01 $212,500 (11.8%) $260,425 (5.0%) 0.00 125
    2018-08-01 $228,475 (20.7%) $274,113 (11.9%) 0.00 128
    2018-09-01 $229,000 (23.9%) $273,029 (13.5%) 0.00 129
    2018-10-01 $229,425 (24.1%) $271,904 (12.3%) 0.00 127
    2018-11-01 $239,225 (29.7%) $274,152 (10.0%) 0.00 118
    2018-12-01 $229,900 (26.0%) $272,276 (9.4%) 0.00 116
    2019-01-01 $229,450 (22.1%) $271,470 (10.7%) 0.00 112
    2019-02-01 $235,000 (22.2%) $274,122 (10.7%) 0.00 107
    2019-03-01 $222,843 (18.2%) $266,178 (8.5%) 0.00 104
    2019-04-01 $217,993 (7.3%) $261,349 (2.1%) 0.00 105
    2019-05-01 $228,750 (8.2%) $261,974 (1.0%) 0.00 123
    2019-06-01 $251,500 (27.2%) $272,930 (6.1%) 0.00 123
    2019-07-01 $263,750 (24.1%) $281,964 (8.3%) 0.00 120
    2019-08-01 $265,182 (16.1%) $285,563 (4.2%) 0.00 116
    2019-09-01 $261,705 (14.3%) $285,147 (4.4%) 0.00 116
    2019-10-01 $259,386 (13.1%) $290,119 (6.7%) 0.00 115
    2019-11-01 $259,000 (8.3%) $296,082 (8.0%) 0.00 113
    2019-12-01 $277,500 (20.7%) $307,917 (13.1%) 0.00 90
    2020-01-01 $280,000 (22.0%) $311,843 (14.9%) 0.00 82
    2020-02-01 $289,750 (23.3%) $313,810 (14.5%) 0.00 76
    2020-03-01 $276,200 (23.9%) $310,043 (16.5%) 0.00 59
    2020-04-01 $272,375 (25.0%) $326,249 (24.8%) 0.00 56
    2020-05-01 $297,250 (30.0%) $353,007 (34.8%) 0.00 60
    2020-06-01 $312,725 (24.3%) $351,509 (28.8%) 0.00 67
    2020-07-01 $303,000 (14.9%) $352,103 (24.9%) 0.00 64
    2020-08-01 $307,000 (15.8%) $356,188 (24.7%) 0.00 61
    2020-09-01 $257,000 (-1.8%) $344,785 (20.9%) 0.00 59
    2020-10-01 $279,500 (7.8%) $344,502 (18.7%) 0.00 57
    2020-11-01 $244,950 (-5.4%) $340,063 (14.9%) 0.00 54
    2020-12-01 $277,500 (0.0%) $341,515 (10.9%) 0.00 50
    2021-01-01 $252,400 (-9.9%) $328,658 (5.4%) 0.00 45
    2021-02-01 $262,400 (-9.4%) $340,234 (8.4%) 0.00 38
    2021-03-01 $224,975 (-18.6%) $292,533 (-5.7%) 0.00 36
    2021-04-01 $192,300 (-29.4%) $275,095 (-15.7%) 0.00 27
    2021-05-01 $194,450 (-34.6%) $282,773 (-19.9%) 0.00 25
    2021-06-01 $272,450 (-12.9%) $320,362 (-8.9%) 0.00 21
    2021-07-01 $298,900 (-1.4%) $354,665 (0.7%) 0.00 24
    2021-08-01 $257,000 (-16.3%) $316,137 (-11.2%) 0.00 28
    2021-09-01 $293,750 (14.3%) $331,163 (-4.0%) 0.00 23
    2021-10-01 $330,000 (18.1%) $335,772 (-2.5%) 0.00 23
    2021-11-01 $347,000 (41.7%) $366,872 (7.9%) 0.00 21
    2021-12-01 $363,725 (31.1%) $368,159 (7.8%) 0.00 14
    2022-01-01 $385,000 (52.5%) $373,613 (13.7%) 0.00 12
    2022-02-01 $379,950 (44.8%) $370,494 (8.9%) 0.00 12
    2022-03-01 $388,500 (72.7%) $412,542 (41.0%) 0.00 18
    2022-04-01 $389,900 (102.8%) $409,653 (48.9%) 0.00 12
    2022-05-01 $345,500 (77.7%) $419,274 (48.3%) 0.00 14
    2022-06-01 $384,500 (41.1%) $442,353 (38.1%) 0.00 17
    2022-07-01 $349,500 (16.9%) $391,350 (10.3%) 0.00 23
    2022-08-01 $353,500 (37.6%) $401,266 (26.9%) 0.00 28
    2022-09-01 $360,000 (22.6%) $414,856 (25.3%) 0.00 22
    2022-10-01 $360,000 (9.1%) $403,967 (20.3%) 0.00 18
    2022-11-01 $344,225 (-0.8%) $397,354 (8.3%) 0.00 26
    2022-12-01 $370,000 (1.7%) $416,670 (13.2%) 0.00 20
    2023-01-01 $360,000 (-6.5%) $404,105 (8.2%) 0.00 17
    2023-02-01 $375,000 (-1.3%) $412,477 (11.3%) 0.00 14
    2023-03-01 $347,500 (-10.6%) $464,717 (12.7%) 0.00 22
    2023-04-01 $340,000 (-12.8%) $526,498 (28.5%) 0.00 25
    2023-05-01 $328,750 (-4.9%) $490,559 (17.0%) 0.00 28
    2023-06-01 $340,000 (-11.6%) $517,070 (16.9%) 0.00 32
    2023-07-01 $340,000 (-2.7%) $519,789 (32.8%) 0.00 35
    2023-08-01 $377,200 (6.7%) $516,103 (28.6%) 0.00 40
    Pierre's median listing price for 2023-08-01 was $377,200, a difference of $23,700 (6.7%) versus the prior year and $37,200 versus the prior month.

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

    Pierre's average listing price for 2023-08-01 was $516,103, a difference of $114,837 (28.6%) versus the prior year and $-3,686 versus the prior month.

    For the 2023-08-01 period, Pierre had 40 MLS listings, a difference of 5 listings (14%) versus the prior month and 12 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pierre (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,321 sqft
    2018-02-01 0 days 1,355 sqft
    2018-03-01 0 days 1,290 sqft
    2018-04-01 0 days 1,389 sqft
    2018-05-01 0 days 1,389 sqft
    2018-06-01 0 days 1,355 sqft
    2018-07-01 0 days 1,344 sqft
    2018-08-01 0 days 1,454 sqft
    2018-09-01 0 days 1,479 sqft
    2018-10-01 0 days 1,462 sqft
    2018-11-01 0 days 1,462 sqft
    2018-12-01 0 days 1,420 sqft
    2019-01-01 0 days 1,456 sqft
    2019-02-01 0 days 1,406 sqft
    2019-03-01 0 days 1,341 sqft
    2019-04-01 0 days 1,304 sqft
    2019-05-01 0 days 1,343 sqft
    2019-06-01 0 days 1,434 sqft
    2019-07-01 0 days 1,475 sqft
    2019-08-01 0 days 1,492 sqft
    2019-09-01 0 days 1,490 sqft
    2019-10-01 0 days 1,488 sqft
    2019-11-01 0 days 1,488 sqft
    2019-12-01 0 days 1,580 sqft
    2020-01-01 0 days 1,600 sqft
    2020-02-01 0 days 1,600 sqft
    2020-03-01 0 days 1,491 sqft
    2020-04-01 0 days 1,480 sqft
    2020-05-01 0 days 1,602 sqft
    2020-06-01 0 days 1,624 sqft
    2020-07-01 0 days 1,608 sqft
    2020-08-01 0 days 1,584 sqft
    2020-09-01 0 days 1,488 sqft
    2020-10-01 0 days 1,488 sqft
    2020-11-01 0 days 1,420 sqft
    2020-12-01 0 days 1,487 sqft
    2021-01-01 0 days 1,438 sqft
    2021-02-01 0 days 1,376 sqft
    2021-03-01 0 days 1,216 sqft
    2021-04-01 0 days 1,389 sqft
    2021-05-01 0 days 1,378 sqft
    2021-06-01 0 days 1,436 sqft
    2021-07-01 0 days 1,312 sqft
    2021-08-01 0 days 1,392 sqft
    2021-09-01 0 days 1,514 sqft
    2021-10-01 0 days 1,476 sqft
    2021-11-01 0 days 1,720 sqft
    2021-12-01 0 days 1,684 sqft
    2022-01-01 0 days 1,653 sqft
    2022-02-01 0 days 1,760 sqft
    2022-03-01 0 days 1,645 sqft
    2022-04-01 0 days 1,714 sqft
    2022-05-01 0 days 1,540 sqft
    2022-06-01 0 days 1,774 sqft
    2022-07-01 0 days 1,664 sqft
    2022-08-01 0 days 1,545 sqft
    2022-09-01 0 days 1,605 sqft
    2022-10-01 0 days 1,633 sqft
    2022-11-01 0 days 1,536 sqft
    2022-12-01 0 days 1,540 sqft
    2023-01-01 0 days 1,526 sqft
    2023-02-01 0 days 1,578 sqft
    2023-03-01 0 days 1,526 sqft
    2023-04-01 0 days 1,511 sqft
    2023-05-01 0 days 1,540 sqft
    2023-06-01 0 days 1,568 sqft
    2023-07-01 0 days 1,511 sqft
    2023-08-01 0 days 1,520 sqft
    Pierre's median listing age (time on market) for 2023-08-01 was 0 days.

    Pierre's median square footage for active listings during the 2023-08-01 period was 1,520 sqft. One year prior, the average listing was 1,545 sqft.

    Pierre, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 267 $76,965,000 $288,258
    Cash Out Refi 58 $12,160,000 $209,655
    Refi 43 $8,135,000 $189,186
    Home Improvement 36 $2,930,000 $81,389
    Other 8 $660,000 $82,500

    Pierre's most frequently cited loan purpose was Home Purchase, with 267 originations. The 2nd most popular reason was Cash Out Refi, with 58 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    4-5% 110 $34,980,000 $318,000
    5-6% 109 $24,255,000 $222,523
    3-4% 83 $20,265,000 $244,157
    6-7% 52 $10,620,000 $204,231
    2.5-3% 34 $7,280,000 $214,118
    7-8% 10 $1,330,000 $133,000
    <2.5% 9 $1,195,000 $132,778
    Over 8% 3 $115,000 $38,333

    During 2022, Pierre's most frequently originated rate bucket was 4-5%, with 110 originations.

    Loan Sizing (Pierre, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 195 $54,335,000 $278,641
    $100k-200k 113 $17,535,000 $155,177
    $100,000 or less 77 $3,935,000 $51,104
    $400k-600k 22 $10,690,000 $485,909
    $600k-1000k 4 $3,180,000 $795,000
    $Over $1MM 1 $11,175,000 $11,175,000

    Pierre's loan sizing saw the bucket of loans from $200k-400k with 195 originations, totaling $54,335,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 188 $47,450,000 $252,394
    60-80% 121 $40,145,000 $331,777
    40-60% 35 $6,915,000 $197,571
    20-40% 32 $2,780,000 $86,875
    Under 20% 29 $1,365,000 $47,069
    Over 100% 4 $1,180,000 $295,000

    Pierre's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 188 originations, totaling $47,450,000 in origination value.