Pierre Mortgage Rates

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

30 Year Fixed Rate mortgages in Pierre averaged 5.54% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

The average rate for the prior week (2022-06-23) was 5.65% and one month ago for the week of 2022-05-26, the average rate was 5.04%.

Pierre's average rate one year ago was 2.87%.

For refis of the same type during the week of 2022-06-30, the average rate was 5.59%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
Pierre 30 Year Fixed Rate 2022-06-30 5.54%
Pierre 30 Year Fixed Rate Refi 2022-06-30 5.59%
Pierre 15 Year Fixed Rate 2022-06-30 6.32%
Pierre 15 Year Fixed Rate Refi 2022-06-30 4.92%
Pierre 30 Year FHA 2022-06-30 5.64%
Pierre 30 Year FHA Refi 2022-06-30 5.52%
Pierre 30 Year USDA 2022-06-30 4.99%
Pierre 30 Year USDA Refi 2022-06-30 5.25%
Pierre 30 Year VA 2022-06-30 5.33%
Pierre 30 Year VA Refi 2022-06-30 5.47%
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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
BANKWEST, INC. 81 2.84% $2,943
First National Bank 39 2.85% $3,660
American Bank & Trust 35 2.88% $4,683
First Dakota National Bank 33 2.92% $2,738
BLACK HILLS FEDERAL CREDIT UNION 22 2.96% $4,772
QUICKEN LOANS, LLC 18 3.11% $5,180
Plains Commerce Bank 10 2.96% $3,229
Wells Fargo Bank 9 3.06% $3,085
HOMESTAR FINANCIAL CORPORATION 7 2.80% $5,496
First Bank & Trust 3 2.75% $4,534
LOANDEPOT.COM, LLC 3 3.20% $3,264
U.S. Bank 3 3.21% $2,543
Great Western Bank 2 3.00% $4,439
AMERISAVE MORTGAGE CORPORATION 2 2.88% $6,345
The Federal Savings Bank 2 3.00% $1,092
Gateway First Bank 2 3.56% $3,345
UNITED WHOLESALE MORTGAGE, LLC 2 2.96% $3,963
CU MORTGAGE DIRECT, LLC 1 2.38% $3,133
OPEN MORTGAGE, LLC 1 3.00% $4,001
PENNYMAC LOAN SERVICES, LLC 1 3.00% $6,242
BETTER MORTGAGE CORPORATION 1 3.13% $5,110
PREMIA MORTGAGE, LLC 1 3.13% $0
ANDREWS FEDERAL CREDIT UNION 1 3.25% $3,073
Stifel Bank and Trust 1 3.38% $2,361
Think Mutual Bank 1 3.13% $7,075
THRIVENT Federal Credit Union 1 2.88% $4,712
JPMorgan Chase Bank 1 2.88% $3,210
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.88% $2,403
Farm Credit Mid-America, ACA 1 3.60% $8,328
CORTRUST MORTGAGE, INC. 1 3.38% $2,439
First International Bank & Trust 1 3.50% $670
Carrington Mortgage Services, LLC 1 2.88% $2,487
FREEDOM MORTGAGE CORPORATION 1 2.75% $1,166
GUILD MORTGAGE COMPANY 1 3.13% $2,549
Ixonia Bank 1 2.25% $7,030

Pierre, SD's 35 lenders originated 707 loans during 2021. The total origination value was $146,495,000, with an average loan value of $207,207.

The top Pierre lender as defined by loan originations is BANKWEST, INC., with 81 loans originated. Their average total fees are $2,943, which is $717 lower than the next largest lender, First National Bank.

The lowest fee Pierre lenders (with over 10 loans originated) are First Dakota National Bank ($2,738), BANKWEST, INC. ($2,943), Plains Commerce Bank ($3,229), First National Bank ($3,660) and American Bank & Trust ($4,683).

The lowest rate Pierre lenders (with over 10 loans originated) are BANKWEST, INC. (2.84%), First National Bank (2.85%), American Bank & Trust (2.88%), First Dakota National Bank (2.92%) and BLACK HILLS FEDERAL CREDIT UNION (2.96%).

Pierre, SD Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
BANKWEST, INC. $56,670,000 $41,245,000 -27.2% 28.2%
First National Bank $22,785,000 $20,185,000 -11.4% 13.8%
American Bank & Trust $29,030,000 $16,985,000 -41.5% 11.6%
First Dakota National Bank $22,105,000 $13,205,000 -40.3% 9.0%
QUICKEN LOANS, LLC $7,100,000 $7,455,000 5.0% 5.1%
BLACK HILLS FEDERAL CREDIT UNION $14,265,000 $4,975,000 -65.1% 3.4%
HOMESTAR FINANCIAL CORPORATION $3,755,000 n/a 2.6%
FREEDOM MORTGAGE CORPORATION $1,945,000 $3,390,000 74.3% 2.3%
Wells Fargo Bank $4,510,000 $3,365,000 -25.4% 2.3%
Plains Commerce Bank $2,620,000 $3,285,000 25.4% 2.2%
U.S. Bank $2,710,000 $1,945,000 -28.2% 1.3%
Mortgage Research Center, LLC $1,965,000 $1,895,000 -3.6% 1.3%
First PREMIER Bank $1,185,000 $1,790,000 51.1% 1.2%
The Federal Savings Bank $1,405,000 $1,505,000 7.1% 1.0%
Great Western Bank $2,410,000 $1,285,000 -46.7% 0.9%
LOANDEPOT.COM, LLC $360,000 $1,175,000 226.4% 0.8%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $195,000 $1,015,000 420.5% 0.7%
Gateway First Bank $645,000 $990,000 53.5% 0.7%
UNITED WHOLESALE MORTGAGE, LLC $730,000 $895,000 22.6% 0.6%
NEW DAY FINANCIAL, LLC $155,000 $840,000 441.9% 0.6%
AMERISAVE MORTGAGE CORPORATION $830,000 n/a 0.6%
Flagstar Bank, FSB $105,000 $830,000 690.5% 0.6%
First Bank & Trust $710,000 $810,000 14.1% 0.6%
Farm Credit Mid-America, ACA $195,000 $710,000 264.1% 0.5%
NAVY FEDERAL CREDIT UNION $620,000 n/a 0.4%
CORTRUST MORTGAGE, INC. $1,195,000 $615,000 -48.5% 0.4%
THRIVENT Federal Credit Union $585,000 n/a 0.4%
PENNYMAC LOAN SERVICES, LLC $135,000 $575,000 325.9% 0.4%
North American Savings Bank, F.S.B. $520,000 n/a 0.4%
CU MORTGAGE DIRECT, LLC $450,000 $495,000 10.0% 0.3%
NATIONS RELIABLE LENDING, LLC $465,000 n/a 0.3%
Carrington Mortgage Services, LLC $435,000 n/a 0.3%
VILLAGE CAPITAL & INVESTMENT LLC $565,000 $390,000 -31.0% 0.3%
Lend Smart Mortgage, LLC $2,125,000 $360,000 -83.1% 0.2%
CROSSCOUNTRY MORTGAGE, LLC $750,000 $340,000 -54.7% 0.2%
First International Bank & Trust $340,000 n/a 0.2%
CMG MORTGAGE, INC. $285,000 $335,000 17.5% 0.2%
Ixonia Bank $335,000 n/a 0.2%
ZILLOW HOME LOANS, LLC $335,000 n/a 0.2%
JPMorgan Chase Bank $135,000 $330,000 144.4% 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $285,000 $315,000 10.5% 0.2%
Black Hills Community Bank $305,000 n/a 0.2%
PREMIA MORTGAGE, LLC $275,000 n/a 0.2%
BETTER MORTGAGE CORPORATION $270,000 n/a 0.2%
CALIBER HOME LOANS, INC. $920,000 $265,000 -71.2% 0.2%
GUILD MORTGAGE COMPANY $265,000 n/a 0.2%
Stifel Bank and Trust $265,000 n/a 0.2%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $255,000 n/a 0.2%
USAA Federal Savings Bank $1,385,000 $255,000 -81.6% 0.2%
AMERICAN FINANCIAL NETWORK, INC. $245,000 n/a 0.2%
First Interstate Bank $410,000 $225,000 -45.1% 0.2%
PENTAGON FEDERAL CREDIT UNION $115,000 $215,000 87.0% 0.1%
DAS Acquisition Company, LLC $195,000 n/a 0.1%
LAKEVIEW LOAN SERVICING, LLC $1,055,000 $185,000 -82.5% 0.1%
EVERETT FINANCIAL, INC. $175,000 n/a 0.1%
OPEN MORTGAGE, LLC $735,000 $175,000 -76.2% 0.1%
Think Mutual Bank $175,000 n/a 0.1%
Heritage Bank $235,000 $165,000 -29.8% 0.1%
NEWREZ LLC $115,000 $145,000 26.1% 0.1%
Unify Home Lending Inc. $145,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $135,000 n/a 0.1%
Mr. Cooper ( Nationstar Mortgage ) $470,000 $135,000 -71.3% 0.1%
ANDREWS FEDERAL CREDIT UNION $105,000 n/a 0.1%
RAILWAY CREDIT UNION $95,000 n/a 0.1%
GUARANTEED RATE, INC. $75,000 n/a 0.1%

Pierre's top lender by overall market share is BANKWEST, INC., with 28.2% market share. In second place, with 13.8%, is First National Bank, having originated $20,185,000 in loans. In third place, with 11.6%, is American Bank & Trust, having originated $16,985,000 in loans. In third place, with 9.0%, is First Dakota National Bank, having originated $13,205,000 in loans. In third place, with 5.1%, is QUICKEN LOANS, LLC, having originated $7,455,000 in loans.


Pierre, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 333 $75,005,000 $225,240
Refi 213 $41,515,000 $194,906
Cash Out Refi 135 $26,425,000 $195,741
Home Improvement 18 $2,800,000 $155,556
Other 8 $750,000 $93,750

Pierre's most frequently cited loan purpose was Home Purchase, with 333 originations. The 2nd most popular reason was Refi, with 213 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 293 $60,285,000 $205,751
<2.5% 212 $43,220,000 $203,868
3-4% 130 $28,920,000 $222,462
4-5% 50 $11,820,000 $236,400
6-7% 9 $815,000 $90,556
5-6% 8 $810,000 $101,250
Over 8% 2 $200,000 $100,000
7-8% 1 $25,000 $25,000

During 2021, Pierre's most frequently originated rate bucket was 2.5-3%, with 293 originations.

Loan Sizing (Pierre, SD MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 328 $49,220,000 $150,061
$200k-400k 254 $67,070,000 $264,055
$100,000 or less 76 $5,080,000 $66,842
$400k-600k 43 $20,145,000 $468,488
$600k-1000k 5 $3,975,000 $795,000
$Over $1MM 1 $1,005,000 $1,005,000

Pierre's loan sizing saw the bucket of loans from $100k-200k with 328 originations, totaling $49,220,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 292 $66,090,000 $226,336
60-80% 243 $51,885,000 $213,519
40-60% 92 $15,840,000 $172,174
20-40% 31 $3,585,000 $115,645
Under 20% 15 $755,000 $50,333
Over 100% 7 $2,455,000 $350,714

Pierre's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 292 originations, totaling $66,090,000 in origination value.


Market Conditions (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 $183,000 (-6.9%) $244,622 (-5.8%) 0.00 102
2018-02-01 $190,000 (-4.8%) $244,852 (-4.4%) 0.00 109
2018-03-01 $185,000 (-5.1%) $242,170 (0.0%) 0.00 112
2018-04-01 $195,750 (-4.5%) $253,065 (1.6%) 0.00 125
2018-05-01 $205,000 (4.1%) $257,443 (2.7%) 0.00 127
2018-06-01 $190,600 (0.3%) $255,630 (5.6%) 0.00 122
2018-07-01 $205,000 (7.9%) $258,111 (6.3%) 0.00 129
2018-08-01 $228,000 (22.0%) $271,918 (13.5%) 0.00 133
2018-09-01 $228,900 (24.4%) $270,867 (15.1%) 0.00 135
2018-10-01 $228,950 (25.8%) $268,800 (14.4%) 0.00 132
2018-11-01 $239,000 (33.2%) $270,392 (10.8%) 0.00 124
2018-12-01 $235,000 (30.6%) $270,155 (10.3%) 0.00 122
2019-01-01 $229,450 (25.4%) $270,286 (10.5%) 0.00 116
2019-02-01 $232,000 (22.1%) $270,811 (10.6%) 0.00 110
2019-03-01 $222,729 (20.4%) $262,110 (8.2%) 0.00 107
2019-04-01 $215,729 (10.2%) $256,988 (1.6%) 0.00 108
2019-05-01 $225,000 (9.8%) $260,773 (1.3%) 0.00 126
2019-06-01 $242,500 (27.2%) $270,137 (5.7%) 0.00 127
2019-07-01 $259,000 (26.3%) $278,265 (7.8%) 0.00 123
2019-08-01 $257,714 (13.0%) $277,935 (2.2%) 0.00 121
2019-09-01 $249,000 (8.8%) $272,820 (0.7%) 0.00 119
2019-10-01 $255,000 (11.4%) $281,253 (4.6%) 0.00 118
2019-11-01 $255,000 (6.7%) $288,120 (6.6%) 0.00 115
2019-12-01 $274,250 (16.7%) $300,639 (11.3%) 0.00 93
2020-01-01 $274,250 (19.5%) $302,316 (11.9%) 0.00 86
2020-02-01 $263,000 (13.4%) $303,519 (12.1%) 0.00 81
2020-03-01 $266,250 (19.5%) $295,073 (12.6%) 0.00 64
2020-04-01 $262,250 (21.6%) $324,534 (26.3%) 0.00 60
2020-05-01 $295,000 (31.1%) $353,370 (35.5%) 0.00 65
2020-06-01 $310,450 (28.0%) $361,200 (33.7%) 0.00 72
2020-07-01 $302,450 (16.8%) $362,429 (30.3%) 0.00 71
2020-08-01 $310,000 (20.3%) $361,604 (30.1%) 0.00 70
2020-09-01 $257,000 (3.2%) $347,930 (27.5%) 0.00 68
2020-10-01 $299,000 (17.3%) $353,047 (25.5%) 0.00 66
2020-11-01 $244,950 (-3.9%) $343,291 (19.2%) 0.00 60
2020-12-01 $269,900 (-1.6%) $349,057 (16.1%) 0.00 59
2021-01-01 $235,000 (-14.3%) $317,758 (5.1%) 0.00 53
2021-02-01 $239,000 (-9.1%) $327,974 (8.1%) 0.00 46
2021-03-01 $220,000 (-17.4%) $294,275 (-0.3%) 0.00 41
2021-04-01 $193,900 (-26.1%) $266,065 (-18.0%) 0.00 30
2021-05-01 $182,000 (-38.3%) $266,865 (-24.5%) 0.00 27
2021-06-01 $261,500 (-15.8%) $302,472 (-16.3%) 0.00 21
2021-07-01 $282,250 (-6.7%) $329,099 (-9.2%) 0.00 25
2021-08-01 $257,000 (-17.1%) $300,660 (-16.9%) 0.00 31
2021-09-01 $292,500 (13.8%) $311,038 (-10.6%) 0.00 26
2021-10-01 $330,000 (10.4%) $315,873 (-10.5%) 0.00 26
2021-11-01 $344,500 (40.6%) $339,173 (-1.2%) 0.00 23
2021-12-01 $344,500 (27.6%) $333,171 (-4.6%) 0.00 17
2022-01-01 $365,000 (55.3%) $334,331 (5.2%) 0.00 14
2022-02-01 $370,000 (54.8%) $336,261 (2.5%) 0.00 13
2022-03-01 $388,500 (76.6%) $400,799 (36.2%) 0.00 15
2022-04-01 $370,000 (90.8%) $368,194 (38.4%) 0.00 14
2022-05-01 $328,500 (80.5%) $377,850 (41.6%) 0.00 16
2022-06-01 $359,500 (37.5%) $408,825 (35.2%) 0.00 17
Pierre's median listing price for 2022-06-01 was $359,500, a difference of $98,000 (37.5%) versus the prior year and $31,000 versus the prior month.

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

Pierre's average listing price for 2022-06-01 was $408,825, a difference of $106,353 (35.2%) versus the prior year and $30,975 versus the prior month.

For the 2022-06-01 period, Pierre had 17 MLS listings, a difference of 1 listings (6%) versus the prior month and -4 listings (-19%) 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 1,274 sqft
2018-02-01 0 days 1,344 sqft
2018-03-01 0 days 1,273 sqft
2018-04-01 0 days 1,392 sqft
2018-05-01 0 days 1,392 sqft
2018-06-01 0 days 1,352 sqft
2018-07-01 0 days 1,344 sqft
2018-08-01 0 days 1,480 sqft
2018-09-01 0 days 1,488 sqft
2018-10-01 0 days 1,478 sqft
2018-11-01 0 days 1,476 sqft
2018-12-01 0 days 1,440 sqft
2019-01-01 0 days 1,464 sqft
2019-02-01 0 days 1,408 sqft
2019-03-01 0 days 1,348 sqft
2019-04-01 0 days 1,312 sqft
2019-05-01 0 days 1,365 sqft
2019-06-01 0 days 1,440 sqft
2019-07-01 0 days 1,480 sqft
2019-08-01 0 days 1,488 sqft
2019-09-01 0 days 1,470 sqft
2019-10-01 0 days 1,472 sqft
2019-11-01 0 days 1,472 sqft
2019-12-01 0 days 1,568 sqft
2020-01-01 0 days 1,568 sqft
2020-02-01 0 days 1,568 sqft
2020-03-01 0 days 1,470 sqft
2020-04-01 0 days 1,480 sqft
2020-05-01 0 days 1,596 sqft
2020-06-01 0 days 1,624 sqft
2020-07-01 0 days 1,607 sqft
2020-08-01 0 days 1,568 sqft
2020-09-01 0 days 1,500 sqft
2020-10-01 0 days 1,500 sqft
2020-11-01 0 days 1,472 sqft
2020-12-01 0 days 1,502 sqft
2021-01-01 0 days 1,488 sqft
2021-02-01 0 days 1,468 sqft
2021-03-01 0 days 1,360 sqft
2021-04-01 0 days 1,463 sqft
2021-05-01 0 days 1,438 sqft
2021-06-01 0 days 1,438 sqft
2021-07-01 0 days 1,436 sqft
2021-08-01 0 days 1,514 sqft
2021-09-01 0 days 1,522 sqft
2021-10-01 0 days 1,476 sqft
2021-11-01 0 days 1,684 sqft
2021-12-01 0 days 1,648 sqft
2022-01-01 0 days 1,568 sqft
2022-02-01 0 days 1,653 sqft
2022-03-01 0 days 1,670 sqft
2022-04-01 0 days 1,620 sqft
2022-05-01 0 days 1,540 sqft
2022-06-01 0 days 1,720 sqft
Pierre's median listing age (time on market) for 2022-06-01 was 0 days.

Pierre's median square footage for active listings during the 2022-06-01 period was 1,720 sqft. One year prior, the average listing was 1,438 sqft.