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 6.34% for the week of 2023-03-16, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2023-03-09) was 6.47% and one month ago for the week of 2023-02-09, the average rate was 5.86%.

    Pierre's average rate one year ago was 3.69%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.29%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Pierre 30 Year Fixed Rate 2023-03-16 6.34%
    Pierre 30 Year Fixed Rate Refi 2023-03-16 6.29%
    Pierre 15 Year Fixed Rate 2023-03-16 7.59%
    Pierre 15 Year Fixed Rate Refi 2023-03-16 5.59%
    Pierre 30 Year FHA 2023-03-16 6.22%
    Pierre 30 Year FHA Refi 2023-03-16 6.4%
    Pierre 30 Year USDA 2023-03-16 5.99%
    Pierre 30 Year USDA Refi 2023-03-16 6.05%
    Pierre 30 Year VA 2023-03-16 5.95%
    Pierre 30 Year VA Refi 2023-03-16 6.19%
    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 Average Closing Costs & Other Stats

    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.

    Pierre's average closing costs are $4,354.

    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 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 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 fourth place, with 9.0%, is First Dakota National Bank, having originated $13,205,000 in loans. In fifth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $7,455,000 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
    Pierre's median listing price for 2023-02-01 was $375,000, a difference of $-4,950 (-1.3%) versus the prior year and $15,000 versus the prior month.

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

    Pierre's average listing price for 2023-02-01 was $412,477, a difference of $41,983 (11.3%) versus the prior year and $8,372 versus the prior month.

    For the 2023-02-01 period, Pierre had 14 MLS listings, a difference of -3 listings (-18%) versus the prior month and 2 listings (17%) 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
    Pierre's median listing age (time on market) for 2023-02-01 was 0 days.

    Pierre's median square footage for active listings during the 2023-02-01 period was 1,578 sqft. One year prior, the average listing was 1,760 sqft.

    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.