Pierre Mortgage Rates & Closing Costs
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% |
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.).
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. LouisDate | 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 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. LouisDate | 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 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.