Pierre Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Pierre averaged 6.8% for the week of 2024-06-13, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-06) was 6.94% and one month ago for the week of 2024-05-09, the average rate was 6.94%.

Pierre's average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-13, the average rate was 7.55%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-13 6.95%
Pierre 30 Year Fixed Rate 2024-06-13 6.8%
Pierre 30 Year Fixed Rate Refi 2024-06-13 7.55%
Pierre 15 Year Fixed Rate 2024-06-13 6.17%
Pierre 15 Year Fixed Rate Refi 2024-06-13 6.17%
Pierre 30 Year FHA 2024-06-13 6.71%
Pierre 30 Year FHA Refi 2024-06-13 6.71%
Pierre 30 Year USDA 2024-06-13 6.81%
Pierre 30 Year USDA Refi 2024-06-13 6.51%
Pierre 30 Year VA 2024-06-13 6.62%
Pierre 30 Year VA Refi 2024-06-13 6.32%
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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
BANKWEST, INC. 39 6.38% $4,930
American Bank & Trust 15 6.53% $5,040
First National Bank 15 6.82% $3,894
First Dakota National Bank 12 6.66% $2,814
BLACK HILLS FEDERAL CREDIT UNION 9 6.32% $4,559
Plains Commerce Bank 7 7.14% $5,627
QUICKEN LOANS, LLC 7 6.68% $6,552
CMG MORTGAGE, INC. 2 6.06% $4,337
UNITED WHOLESALE MORTGAGE, LLC 2 6.75% $4,942
Dacotah Bank 2 5.98% $5,193
WINGS FINANCIAL 1 5.75% $4,182
American Bank Center 1 6.88% $9,424
ZILLOW HOME LOANS, LLC 1 8.13% $5,714
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.13% $4,103
HOMESTAR FINANCIAL CORPORATION 1 6.38% $1,864
Minnwest Bank 1 6.25% $4,781
Northwest Bank 1 6.50% $2,725
Paramount Residential Mortgage Group, Inc. 1 7.38% $8,711
Unify Home Lending Inc. 1 7.88% $4,746
USAA Federal Savings Bank 1 7.13% $3,408
U.S. Bank 1 6.63% $4,685
Wells Fargo Bank 1 7.00% $4,293

Pierre Average Closing Costs & Other Stats

Pierre, SD's 22 lenders originated 300 loans during 2023. The total origination value was $58,360,000, with an average loan value of $194,533.

Pierre's average closing costs are $4,706.

The top Pierre lender as defined by loan originations is BANKWEST, INC., with 39 loans originated. Their average total fees are $4,930, which is $109 lower than the next largest lender, American Bank & Trust.

The lowest fee Pierre lenders (with over 10 loans originated) are First Dakota National Bank ($2,814), First National Bank ($3,894), BANKWEST, INC. ($4,930), American Bank & Trust ($5,040) and .

The lowest rate Pierre lenders (with over 10 loans originated) are BANKWEST, INC. (6.38%), American Bank & Trust (6.53%), First Dakota National Bank (6.66%), First National Bank (6.82%) and .

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
BANKWEST, INC. $25,605,000 $19,630,000 -23.3% 33.6%
American Bank & Trust $20,175,000 $7,310,000 -63.8% 12.5%
First Dakota National Bank $6,450,000 $5,735,000 -11.1% 9.8%
First National Bank $9,660,000 $5,495,000 -43.1% 9.4%
BLACK HILLS FEDERAL CREDIT UNION $5,400,000 $3,215,000 -40.5% 5.5%
Plains Commerce Bank $1,980,000 $3,030,000 53.0% 5.2%
QUICKEN LOANS, LLC $2,705,000 $2,735,000 1.1% 4.7%
American Bank Center $910,000 n/a 1.6%
Mortgage Research Center, LLC $1,615,000 $825,000 -48.9% 1.4%
U.S. Bank $2,245,000 $710,000 -68.4% 1.2%
Dacotah Bank $480,000 $540,000 12.5% 0.9%
CMG MORTGAGE, INC. $235,000 $510,000 117.0% 0.9%
HIGHMARK $490,000 n/a 0.8%
CROSSCOUNTRY MORTGAGE, LLC $485,000 n/a 0.8%
Unify Home Lending Inc. $460,000 n/a 0.8%
BROKER SOLUTIONS, INC. $175,000 $430,000 145.7% 0.7%
UNITED WHOLESALE MORTGAGE, LLC $895,000 $430,000 -52.0% 0.7%
WINGS FINANCIAL $420,000 n/a 0.7%
CORTRUST MORTGAGE, INC. $975,000 $355,000 -63.6% 0.6%
PENNYMAC LOAN SERVICES, LLC $670,000 $350,000 -47.8% 0.6%
GENEVA FINANCIAL, LLC $295,000 n/a 0.5%
Paramount Residential Mortgage Group, Inc. $275,000 n/a 0.5%
Reliabank Dakota $265,000 n/a 0.5%
USAA Federal Savings Bank $550,000 $265,000 -51.8% 0.5%
21ST MORTGAGE CORPORATION $235,000 n/a 0.4%
HOMESTAR FINANCIAL CORPORATION $1,015,000 $235,000 -76.8% 0.4%
LAKEVIEW LOAN SERVICING, LLC $235,000 n/a 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $275,000 $235,000 -14.5% 0.4%
Minnwest Bank $225,000 n/a 0.4%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $480,000 $215,000 -55.2% 0.4%
FREEDOM MORTGAGE CORPORATION $800,000 $215,000 -73.1% 0.4%
Discover Bank $200,000 n/a 0.3%
Northwest Bank $175,000 n/a 0.3%
LOANDEPOT.COM, LLC $780,000 $165,000 -78.8% 0.3%
First Bank & Trust $260,000 $155,000 -40.4% 0.3%
Gateway First Bank $1,175,000 $155,000 -86.8% 0.3%
Wells Fargo Bank $2,550,000 $150,000 -94.1% 0.3%
First International Bank & Trust $205,000 $125,000 -39.0% 0.2%
ZILLOW HOME LOANS, LLC $225,000 $115,000 -48.9% 0.2%
Carrington Mortgage Services, LLC $85,000 n/a 0.1%
Northern Hills FCU $85,000 n/a 0.1%
Citizens Bank $65,000 n/a 0.1%
NAVY FEDERAL CREDIT UNION $55,000 n/a 0.1%
Figure Lending LLC $45,000 n/a 0.1%
Coastal Community Bank $25,000 n/a 0.0%

Pierre's top lender by overall market share is BANKWEST, INC., with 33.6% market share. In second place, with 12.5%, is American Bank & Trust, having originated $7,310,000 in loans. In third place, with 9.8%, is First Dakota National Bank, having originated $5,735,000 in loans. In fourth place, with 9.4%, is First National Bank, having originated $5,495,000 in loans. In fifth place, with 5.5%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $3,215,000 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
2023-09-01 $374,250 (4.0%) $435,518 (5.0%) 0.00 35
2023-10-01 $296,000 (-17.8%) $388,690 (-3.8%) 0.00 28
2023-11-01 $287,425 (-16.5%) $369,965 (-6.9%) 0.00 33
2023-12-01 $284,950 (-23.0%) $352,119 (-15.5%) 0.00 33
2024-01-01 $313,250 (-13.0%) $413,261 (2.3%) 0.00 30
2024-02-01 $344,500 (-8.1%) $436,758 (5.9%) 0.00 21
2024-03-01 $369,000 (6.2%) $453,544 (-2.4%) 0.00 27
2024-04-01 $368,000 (8.2%) $425,068 (-19.3%) 0.00 30
2024-05-01 $353,750 (7.6%) $437,068 (-10.9%) 0.00 28
Pierre's median listing price for 2024-05-01 was $353,750, a difference of $25,000 (7.6%) versus the prior year and $-14,250 versus the prior month.

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

Pierre's average listing price for 2024-05-01 was $437,068, a difference of $-53,491 (-10.9%) versus the prior year and $12,000 versus the prior month.

For the 2024-05-01 period, Pierre had 28 MLS listings, a difference of -2 listings (-7%) versus the prior month and 0 listings (0%) 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
2023-09-01 0 days 1,538 sqft
2023-10-01 0 days 1,418 sqft
2023-11-01 0 days 1,244 sqft
2023-12-01 0 days 1,260 sqft
2024-01-01 0 days 1,260 sqft
2024-02-01 0 days 1,357 sqft
2024-03-01 0 days 1,357 sqft
2024-04-01 0 days 1,252 sqft
2024-05-01 0 days 1,166 sqft
Pierre's median listing age (time on market) for 2024-05-01 was 0 days.

Pierre's median square footage for active listings during the 2024-05-01 period was 1,166 sqft. One year prior, the average listing was 1,540 sqft.

Pierre, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 208 $48,930,000 $235,240
Home Improvement 34 $2,380,000 $70,000
Cash Out Refi 28 $4,270,000 $152,500
Refi 16 $2,020,000 $126,250
Other 14 $760,000 $54,286

Pierre's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Home Improvement, with 34 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 111 $28,715,000 $258,694
Over 8% 67 $6,445,000 $96,194
5-6% 55 $12,175,000 $221,364
7-8% 54 $9,680,000 $179,259
2.5-3% 7 $215,000 $30,714
4-5% 2 $550,000 $275,000
<2.5% 1 $5,000 $5,000

During 2023, Pierre's most frequently originated rate bucket was 6-7%, with 111 originations.

Loan Sizing (Pierre, SD MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 120 $32,330,000 $269,417
$100k-200k 88 $13,560,000 $154,091
$100,000 or less 78 $4,070,000 $52,179
$400k-600k 9 $4,015,000 $446,111
$600k-1000k 4 $3,020,000 $755,000
$Over $1MM 1 $1,365,000 $1,365,000

Pierre's loan sizing saw the bucket of loans from $200k-400k with 120 originations, totaling $32,330,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 140 $31,260,000 $223,286
60-80% 71 $18,145,000 $255,563
Under 20% 38 $1,970,000 $51,842
20-40% 28 $2,550,000 $91,071
40-60% 18 $2,730,000 $151,667
Over 100% 2 $1,130,000 $565,000

Pierre's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 140 originations, totaling $31,260,000 in origination value.