RAPID CITY Mortgage Rates

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

30 Year Fixed Rate mortgages in Rapid City averaged 5.52% for the week of 2022-05-12, compared to the national average of 5.3% for the same period.

The average rate for the prior week (2022-05-05) was 5.19% and one month ago for the week of 2022-04-07, the average rate was 4.94%.

Rapid City's average rate one year ago was 3.29%.

For refis of the same type during the week of 2022-05-12, the average rate was 5.33%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-05-12 5.3%
Rapid City 30 Year Fixed Rate 2022-05-12 5.52%
Rapid City 30 Year Fixed Rate Refi 2022-05-12 5.33%
Rapid City 15 Year Fixed Rate 2022-05-12 5.28%
Rapid City 15 Year Fixed Rate Refi 2022-05-12 4.38%
Rapid City 30 Year FHA 2022-05-12 5.16%
Rapid City 30 Year FHA Refi 2022-05-12 5.07%
Rapid City 30 Year USDA 2022-05-12 4.8%
Rapid City 30 Year USDA Refi 2022-05-12 4.97%
Rapid City 30 Year VA 2022-05-12 5.38%
Rapid City 30 Year VA Refi 2022-05-12 5.03%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within RAPID CITY, SD.

RAPID CITY 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 RAPID CITY, 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
BLACK HILLS FEDERAL CREDIT UNION 424 2.95% $5,307
CMG MORTGAGE, INC. 334 3.09% $4,082
Gateway First Bank 225 3.12% $3,092
Unify Home Lending Inc. 174 2.99% $4,205
QUICKEN LOANS, LLC 146 3.08% $5,287
Lend Smart Mortgage, LLC 137 3.13% $6,370
UNITED WHOLESALE MORTGAGE, LLC 120 3.10% $3,226
HOMESTAR FINANCIAL CORPORATION 100 3.13% $3,833
Plains Commerce Bank 82 3.16% $3,312
Wells Fargo Bank 81 3.13% $3,091
OPEN MORTGAGE, LLC 56 2.95% $4,347
First Interstate Bank 55 3.32% $4,557
U.S. Bank 50 3.06% $3,022
Dacotah Bank 41 3.08% $3,581
First National Bank 36 2.84% $3,722
BANKWEST, INC. 32 2.88% $4,993
DAS Acquisition Company, LLC 27 3.16% $3,877
Mr. Cooper ( Nationstar Mortgage ) 23 3.19% $6,544
PENNYMAC LOAN SERVICES, LLC 21 3.14% $4,475
LOANDEPOT.COM, LLC 19 2.95% $5,385
AMERISAVE MORTGAGE CORPORATION 18 2.87% $6,844
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 3.12% $4,280
Flagstar Bank, FSB 16 3.06% $4,451
Security First Bank 15 3.14% $2,389
CU MORTGAGE DIRECT, LLC 13 2.83% $1,017
NEWREZ LLC 13 3.08% $3,374
JPMorgan Chase Bank 12 3.06% $2,605
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 12 3.01% $4,946
Servion, Inc. 11 2.84% $6,069
FREEDOM MORTGAGE CORPORATION 11 3.24% $2,320
Great Western Bank 9 3.03% $3,661
BETTER MORTGAGE CORPORATION 9 3.07% $4,107
First Federal Bank 8 3.09% $2,869
CALIBER HOME LOANS, INC. 8 2.99% $3,915
Farm Credit Mid-America, ACA 7 3.51% $8,037
MUTUAL OF OMAHA MORTGAGE, INC. 7 3.16% $4,739
Carrington Mortgage Services, LLC 5 4.53% $6,589
First PREMIER Bank 5 2.75% $4,033
Ally Bank 5 2.98% $2,526
BAY EQUITY LLC 5 2.90% $5,937
GUILD MORTGAGE COMPANY 5 3.13% $3,883
HOME POINT FINANCIAL CORPORATION 4 2.90% $2,609
BROKER SOLUTIONS, INC. 4 3.06% $4,183
NAVY FEDERAL CREDIT UNION 4 3.53% $2,624
Northpointe Bank 4 3.53% $5,452
PNC Bank 4 3.09% $3,118
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 3.21% $3,773
The Huntington National Bank 4 3.14% $3,567
Bank of England 3 3.58% $4,239
AMERICAN FINANCING CORPORATION 3 2.92% $4,508
AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.21% $3,501
CHURCHILL MORTGAGE CORPORATION 3 3.38% $2,803
CORTRUST MORTGAGE, INC. 3 2.79% $5,585
CROSSCOUNTRY MORTGAGE, LLC 3 3.21% $5,507
First Dakota National Bank 3 3.00% $4,180
First Guaranty Mortgage Corporation 3 3.08% $2,712
Gate City Bank 3 2.71% $3,448
PLANET HOME LENDING, LLC 3 3.50% $4,225
S1L, Inc. 3 3.08% $3,549
The Federal Savings Bank 3 3.00% $9,170
First National Bank of Omaha 2 3.13% $2,923
Discover Bank 2 4.62% $0
GUARANTEED RATE, INC. 2 2.88% $4,253
Morgan Stanley Private Bank 2 2.95% $3,966
MOVEMENT MORTGAGE, LLC 2 3.03% $4,062
Bremer Bank 2 3.13% $8,449
Nations Lending Corporation 2 3.25% $6,428
NBKC BANK 2 2.81% $2,012
Bell Bank 2 3.06% $3,473
PHH Mortgage Corporation 2 3.44% $7,360
ACADEMY MORTGAGE CORPORATION 2 3.31% $2,859
Bank of America 2 2.75% $3,697
Reliabank Dakota 2 2.81% $2,740
Wyndham Capital Mortgage, Inc. 2 2.94% $1,794
TCF National Bank 2 2.81% $4,119
American Bank & Trust 2 2.88% $3,259
UNIVERSAL LENDING CORPORATION 2 3.56% $4,588
First International Bank & Trust 2 2.69% $4,257
Merchants Bank 1 3.28% $3,415
MID AMERICA MORTGAGE, INC. 1 3.25% $4,322
Midland States Bank 1 3.25% $4,143
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $4,942
First Bank & Trust 1 2.88% $4,757
Cambria Financial Group, LLC 1 3.88% $7,400
ZILLOW HOME LOANS, LLC 1 2.88% $3,588
The First National Bank in Sioux Falls 1 2.75% $4,968
BOKF 1 3.00% $3,347
Amerifirst Financial, Inc. 1 3.38% $5,033
BNY Mellon 1 2.63% $5,315
TOWN AND COUNTRY Credit Union 1 2.25% $6,016
Baxter Credit Union 1 3.00% $3,589
Paramount Residential Mortgage Group, Inc. 1 3.00% $5,429
Barrington Bank & Trust Company, N.A. 1 2.99% $3,709
Truist Bank 1 2.88% $6,817
Pinnacle Bank 1 2.50% $1,853
Pinnacle Bank - Wyoming 1 2.88% $4,839
First Internet Bank of Indiana 1 2.99% $2,023
Alerus Financial 1 3.00% $2,608
American Bank of Oklahoma 1 2.88% $3,730
POLARIS HOME FUNDING CORP. 1 3.38% $6,816
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.38% $6,557
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.88% $7,430
Armed Forces Bank 1 3.13% $3,543
First Home Bank 1 2.88% $4,565
AMCAP MORTGAGE, LTD. 1 3.13% $2,812
Arbor Bank 1 3.25% $2,492
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 4.75% $7,031
SOFI LENDING CORP. 1 3.25% $2,402
STEARNS LENDING, LLC 1 3.25% $1,231
Stifel Bank and Trust 1 2.75% $2,946
FirstBank 1 2.99% $3,043
First Western Trust Bank 1 2.63% $2,930
EVERETT FINANCIAL, INC. 1 3.88% $1,791
EMBRACE HOME LOANS, INC. 1 2.99% $3,066
Waterstone Mortgage Corporation 1 2.75% $3,011
DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $3,111
SUMMIT FUNDING, INC. 1 3.99% $4,301
Sunflower Bank 1 3.25% $3,951
CRESCENT MORTGAGE COMPANY 1 3.25% $3,753
COMPEER FINANCIAL, FLCA 1 3.75% $4,411
Citibank 1 3.13% $4,176
Home State Bank 1 3.37% $3,637
HOMESTEAD FUNDING CORP. 1 2.88% $3,390
IMPAC MORTGAGE CORP. 1 3.25% $1,198
CIBC Bank USA 1 4.25% $3,664
Cf Bank 1 2.75% $2,056
Century Mortgage Company DBA Century Lending Company 1 3.38% $7,175

RAPID CITY, SD's 127 lenders originated 6,360 loans during 2021. The total origination value was $1,593,370,000, with an average loan value of $250,530.

The top RAPID CITY lender as defined by loan originations is BLACK HILLS FEDERAL CREDIT UNION, with 424 loans originated. Their average total fees are $5,307, which is $1,224 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee RAPID CITY lenders (with over 10 loans originated) are CU MORTGAGE DIRECT, LLC ($1,017), FREEDOM MORTGAGE CORPORATION ($2,320), Security First Bank ($2,389), JPMorgan Chase Bank ($2,605) and U.S. Bank ($3,022).

The lowest rate RAPID CITY lenders (with over 10 loans originated) are CU MORTGAGE DIRECT, LLC (2.83%), First National Bank (2.84%), Servion, Inc. (2.84%), AMERISAVE MORTGAGE CORPORATION (2.87%) and BANKWEST, INC. (2.88%).

RAPID CITY, 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
CMG MORTGAGE, INC. $188,020,000 $172,660,000 -8.2% 10.8%
BLACK HILLS FEDERAL CREDIT UNION $218,380,000 $160,035,000 -26.7% 10.0%
Gateway First Bank $133,400,000 $98,535,000 -26.1% 6.2%
UNITED WHOLESALE MORTGAGE, LLC $36,515,000 $79,605,000 118.0% 5.0%
Unify Home Lending Inc. $59,595,000 $74,995,000 25.8% 4.7%
QUICKEN LOANS, LLC $57,240,000 $71,535,000 25.0% 4.5%
Lend Smart Mortgage, LLC $116,770,000 $64,430,000 -44.8% 4.0%
HOMESTAR FINANCIAL CORPORATION $2,855,000 $52,205,000 1,728.5% 3.3%
Wells Fargo Bank $35,130,000 $46,250,000 31.7% 2.9%
Black Hills Community Bank $50,665,000 $45,000,000 -11.2% 2.8%
U.S. Bank $48,670,000 $42,135,000 -13.4% 2.6%
First Interstate Bank $76,910,000 $37,815,000 -50.8% 2.4%
Plains Commerce Bank $7,845,000 $34,070,000 334.3% 2.1%
PENNYMAC LOAN SERVICES, LLC $10,110,000 $32,470,000 221.2% 2.0%
BANKWEST, INC. $43,745,000 $31,605,000 -27.8% 2.0%
Pioneer Bank & Trust $35,405,000 $31,045,000 -12.3% 1.9%
FREEDOM MORTGAGE CORPORATION $39,645,000 $30,955,000 -21.9% 1.9%
Dacotah Bank $32,035,000 $27,640,000 -13.7% 1.7%
OPEN MORTGAGE, LLC $80,930,000 $27,495,000 -66.0% 1.7%
Mortgage Research Center, LLC $25,575,000 $25,755,000 0.7% 1.6%
KeyBank $945,000 $24,755,000 2,519.6% 1.6%
HIGHMARK $25,665,000 $23,880,000 -7.0% 1.5%
First National Bank $57,975,000 $21,875,000 -62.3% 1.4%
Security First Bank $19,860,000 $20,485,000 3.1% 1.3%
Merchants Bank of Indiana $20,430,000 n/a 1.3%
DAS Acquisition Company, LLC $11,430,000 $15,740,000 37.7% 1.0%
LOANDEPOT.COM, LLC $5,510,000 $14,165,000 157.1% 0.9%
Mr. Cooper ( Nationstar Mortgage ) $10,815,000 $13,690,000 26.6% 0.9%
NEWREZ LLC $8,850,000 $12,025,000 35.9% 0.8%
Washington Federal Bank $9,915,000 n/a 0.6%
AMERISAVE MORTGAGE CORPORATION $5,395,000 $9,375,000 73.8% 0.6%
LAKEVIEW LOAN SERVICING, LLC $7,400,000 $9,185,000 24.1% 0.6%
Bank of America $405,000 $8,495,000 1,997.5% 0.5%
CALIBER HOME LOANS, INC. $7,335,000 $8,470,000 15.5% 0.5%
USAA Federal Savings Bank $8,690,000 $8,050,000 -7.4% 0.5%
Flagstar Bank, FSB $4,770,000 $7,720,000 61.8% 0.5%
NAVY FEDERAL CREDIT UNION $3,715,000 $7,390,000 98.9% 0.5%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $4,510,000 $7,335,000 62.6% 0.5%
Great Western Bank $3,270,000 $7,055,000 115.7% 0.4%
HOME POINT FINANCIAL CORPORATION $3,505,000 $6,320,000 80.3% 0.4%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,075,000 $5,885,000 91.4% 0.4%
NEW DAY FINANCIAL, LLC $6,610,000 $5,840,000 -11.6% 0.4%
CU MORTGAGE DIRECT, LLC $7,890,000 $5,205,000 -34.0% 0.3%
Servion, Inc. $5,915,000 $4,850,000 -18.0% 0.3%
JPMorgan Chase Bank $4,585,000 $4,825,000 5.2% 0.3%
BETTER MORTGAGE CORPORATION $3,690,000 $4,375,000 18.6% 0.3%
The Federal Savings Bank $2,960,000 $3,995,000 35.0% 0.3%
Farm Credit Mid-America, ACA $8,770,000 $3,565,000 -59.4% 0.2%
The Greenwood's State Bank $3,405,000 n/a 0.2%
Stockman Bank of Montana $325,000 $3,305,000 916.9% 0.2%
Ally Bank $155,000 $2,980,000 1,822.6% 0.2%
First PREMIER Bank $2,945,000 $2,525,000 -14.3% 0.2%
Carrington Mortgage Services, LLC $3,360,000 $2,450,000 -27.1% 0.2%
BROKER SOLUTIONS, INC. $725,000 $2,405,000 231.7% 0.2%
BAY EQUITY LLC $385,000 $2,375,000 516.9% 0.1%
VILLAGE CAPITAL & INVESTMENT LLC $2,375,000 $2,325,000 -2.1% 0.1%
Heritage Bank $215,000 $2,240,000 941.9% 0.1%
CHURCHILL MORTGAGE CORPORATION $1,060,000 $2,105,000 98.6% 0.1%
First Federal Bank $4,615,000 $2,065,000 -55.3% 0.1%
PLANET HOME LENDING, LLC $1,000,000 $2,050,000 105.0% 0.1%
BankFirst $2,035,000 n/a 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $2,020,000 n/a 0.1%
Arbor Realty Trust, Inc. $1,805,000 n/a 0.1%
Northpointe Bank $135,000 $1,795,000 1,229.6% 0.1%
CORTRUST MORTGAGE, INC. $2,565,000 $1,780,000 -30.6% 0.1%
STEARNS LENDING, LLC $760,000 $1,760,000 131.6% 0.1%
CROSSCOUNTRY MORTGAGE, LLC $2,450,000 $1,745,000 -28.8% 0.1%
The Huntington National Bank $1,700,000 n/a 0.1%
GUARANTEED RATE, INC. $860,000 $1,655,000 92.4% 0.1%
NBKC BANK $770,000 $1,575,000 104.5% 0.1%
American Bank & Trust $3,800,000 $1,545,000 -59.3% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $2,730,000 $1,525,000 -44.1% 0.1%
Barrington Bank & Trust Company, N.A. $1,375,000 $1,420,000 3.3% 0.1%
TCF National Bank $1,810,000 $1,410,000 -22.1% 0.1%
PENTAGON FEDERAL CREDIT UNION $490,000 $1,360,000 177.6% 0.1%
First Guaranty Mortgage Corporation $3,210,000 $1,350,000 -57.9% 0.1%
First Dakota National Bank $1,215,000 $1,335,000 9.9% 0.1%
Nations Lending Corporation $390,000 $1,320,000 238.5% 0.1%
First International Bank & Trust $385,000 $1,305,000 239.0% 0.1%
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $2,505,000 $1,295,000 -48.3% 0.1%
Pinnacle Bank - Wyoming $1,240,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $460,000 $1,200,000 160.9% 0.1%
BNY Mellon $1,195,000 n/a 0.1%
GUILD MORTGAGE COMPANY $265,000 $1,155,000 335.8% 0.1%
SOUTHWEST STAGE FUNDING, LLC $340,000 $1,155,000 239.7% 0.1%
PNC Bank $1,160,000 $1,125,000 -3.0% 0.1%
SUN WEST MORTGAGE COMPANY, INC. $980,000 $1,095,000 11.7% 0.1%
AMERICAN PACIFIC MORTGAGE CORPORATION $1,090,000 n/a 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $1,070,000 $1,080,000 0.9% 0.1%
MOVEMENT MORTGAGE, LLC $995,000 n/a 0.1%
Citizens Bank $2,240,000 $980,000 -56.3% 0.1%
Bremer Bank $970,000 n/a 0.1%
Sunflower Bank $940,000 n/a 0.1%
Reliabank Dakota $930,000 n/a 0.1%
Midland States Bank $895,000 n/a 0.1%
S1L, Inc. $895,000 n/a 0.1%
Morgan Stanley Private Bank $225,000 $870,000 286.7% 0.1%
First Home Bank $860,000 n/a 0.1%
MID AMERICA MORTGAGE, INC. $1,425,000 $785,000 -44.9% 0.0%
21ST MORTGAGE CORPORATION $285,000 $780,000 173.7% 0.0%
Platte Valley Bank $770,000 n/a 0.0%
Flanagan State Bank $500,000 $755,000 51.0% 0.0%
Low VA Rates, LLC $995,000 $750,000 -24.6% 0.0%
FirstBank $365,000 $730,000 100.0% 0.0%
Bank of England $240,000 $705,000 193.8% 0.0%
ACADEMY MORTGAGE CORPORATION $640,000 n/a 0.0%
Truist Bank $560,000 $640,000 14.3% 0.0%
First National Bank of Omaha $7,140,000 $610,000 -91.5% 0.0%
Paramount Residential Mortgage Group, Inc. $550,000 n/a 0.0%
Discover Bank $410,000 $535,000 30.5% 0.0%
DRAPER AND KRAMER MORTGAGE CORP. $275,000 $525,000 90.9% 0.0%
AMERICAN FINANCIAL NETWORK, INC. $615,000 $515,000 -16.3% 0.0%
Lakeview Community Capital, LLC $195,000 $515,000 164.1% 0.0%
Wyndham Capital Mortgage, Inc. $510,000 n/a 0.0%
PRIMELENDING, A PLAINSCAPITAL COMPANY $420,000 $490,000 16.7% 0.0%
Bell Bank $475,000 $480,000 1.1% 0.0%
Pinnacle Bank $475,000 n/a 0.0%
UNIVERSAL LENDING CORPORATION $470,000 n/a 0.0%
Cf Bank $465,000 n/a 0.0%
Gate City Bank $645,000 $435,000 -32.6% 0.0%
CRESCENT MORTGAGE COMPANY $425,000 n/a 0.0%
The Central Trust Bank $415,000 n/a 0.0%
TOWN AND COUNTRY Credit Union $425,000 $395,000 -7.1% 0.0%
AMERICAN INTERNET MORTGAGE, INC. $185,000 $370,000 100.0% 0.0%
EVERETT FINANCIAL, INC. $370,000 n/a 0.0%
First Bank $225,000 $370,000 64.4% 0.0%
THRIVENT Federal Credit Union $370,000 n/a 0.0%
Access Bank $355,000 n/a 0.0%
Alerus Financial $355,000 n/a 0.0%
Amerifirst Financial, Inc. $355,000 n/a 0.0%
Bank of the West $350,000 n/a 0.0%
American Bank Center $345,000 n/a 0.0%
InterContinental Capital Group, Inc $345,000 n/a 0.0%
ZILLOW HOME LOANS, LLC $345,000 n/a 0.0%
AMERICAN ADVISORS GROUP $490,000 $340,000 -30.6% 0.0%
FOUR POINTS $185,000 $340,000 83.8% 0.0%
PHH Mortgage Corporation $425,000 $330,000 -22.4% 0.0%
Armed Forces Bank $325,000 n/a 0.0%
Community First National Bank $325,000 n/a 0.0%
COMPEER FINANCIAL, FLCA $325,000 n/a 0.0%
UNITED SECURITY FINANCIAL CORP $195,000 $325,000 66.7% 0.0%
FINANCE OF AMERICA REVERSE LLC $25,000 $320,000 1,180.0% 0.0%
Baxter Credit Union $315,000 n/a 0.0%
NBH Bank $225,000 $315,000 40.0% 0.0%
The Security National Bank of Sioux City, Iowa $315,000 n/a 0.0%
Points West Community Bank $305,000 n/a 0.0%
Southern Bank $305,000 n/a 0.0%
Century Mortgage Company DBA Century Lending Company $295,000 n/a 0.0%
AMCAP MORTGAGE, LTD. $185,000 $290,000 56.8% 0.0%
CIBC Bank USA $285,000 n/a 0.0%
Stifel Bank and Trust $630,000 $285,000 -54.8% 0.0%
BOKF $335,000 $275,000 -17.9% 0.0%
HOMESTEAD FUNDING CORP. $275,000 n/a 0.0%
Merchants Bank $270,000 n/a 0.0%
Service Federal Credit Union $225,000 $255,000 13.3% 0.0%
First Bank & Trust $585,000 $250,000 -57.3% 0.0%
Home State Bank $245,000 n/a 0.0%
KELLER MORTGAGE, LLC $1,060,000 $245,000 -76.9% 0.0%
Magnolia Bank $870,000 $245,000 -71.8% 0.0%
The First National Bank in Sioux Falls $235,000 n/a 0.0%
American Bank of Oklahoma $225,000 n/a 0.0%
Cambria Financial Group, LLC $225,000 n/a 0.0%
SOFI LENDING CORP. $225,000 n/a 0.0%
EMBRACE HOME LOANS, INC. $215,000 n/a 0.0%
Arbor Bank $205,000 n/a 0.0%
Chicago Mortgage Solutions LLC $205,000 n/a 0.0%
Frontier Bank $205,000 n/a 0.0%
Jonah Bank of Wyoming $355,000 $205,000 -42.3% 0.0%
Peoples Bank $205,000 n/a 0.0%
TIAA, FSB $475,000 $205,000 -56.8% 0.0%
ANGEL OAK MORTGAGE SOLUTIONS LLC $195,000 n/a 0.0%
First Internet Bank of Indiana $195,000 n/a 0.0%
IMPAC MORTGAGE CORP. $175,000 n/a 0.0%
Lincoln Savings Bank $175,000 n/a 0.0%
FIRST STATE MORTGAGE SERVICES, LLC $165,000 n/a 0.0%
Adams Bank & Trust $155,000 n/a 0.0%
Citibank $155,000 n/a 0.0%
OCEANSIDE MORTGAGE COMPANY $310,000 $155,000 -50.0% 0.0%
POLARIS HOME FUNDING CORP. $155,000 n/a 0.0%
SUMMIT FUNDING, INC. $155,000 n/a 0.0%
Waterstone Mortgage Corporation $155,000 n/a 0.0%
Willamette Valley Bank $155,000 n/a 0.0%
Colonial Savings, F.A. $620,000 $145,000 -76.6% 0.0%
Cornerstone Bank $175,000 $145,000 -17.1% 0.0%
Manufacturers and Traders Trust Company $145,000 n/a 0.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $445,000 $145,000 -67.4% 0.0%
IOWA BANKERS MORTGAGE CORPORATION $125,000 n/a 0.0%
LENDERFI, INC. $245,000 $125,000 -49.0% 0.0%
MORTGAGE SOLUTIONS OF COLORADO, LLC $815,000 $115,000 -85.9% 0.0%
Figure Lending LLC $110,000 n/a 0.0%
TBK BANK, SSB $105,000 n/a 0.0%
QUORUM FEDERAL CREDIT UNION $95,000 n/a 0.0%
PURDUE FEDERAL CREDIT UNION $85,000 n/a 0.0%
American Airlines Federal Credit Union $75,000 n/a 0.0%
First Western Trust Bank $75,000 n/a 0.0%
TRIAD FINANCIAL SERVICES, INC. $95,000 $75,000 -21.1% 0.0%

RAPID CITY's top lender by overall market share is CMG MORTGAGE, INC., with 10.8% market share. In second place, with 10.0%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $160,035,000 in loans. In third place, with 6.2%, is Gateway First Bank, having originated $98,535,000 in loans. In third place, with 5.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $79,605,000 in loans. In third place, with 4.7%, is Unify Home Lending Inc., having originated $74,995,000 in loans.


RAPID CITY, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 2,584 $759,490,000 $293,920
Refi 2,173 $478,955,000 $220,412
Cash Out Refi 1,278 $297,040,000 $232,426
Home Improvement 245 $43,745,000 $178,551
Other 80 $14,140,000 $176,750

Rapid City's most frequently cited loan purpose was Home Purchase, with 2,584 originations. The 2nd most popular reason was Refi, with 2,173 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 2,539 $626,705,000 $246,831
3-4% 1,701 $479,325,000 $281,790
<2.5% 1,456 $344,070,000 $236,312
4-5% 164 $31,240,000 $190,488
5-6% 31 $2,805,000 $90,484
6-7% 31 $2,635,000 $85,000
7-8% 11 $665,000 $60,455
Over 8% 4 $630,000 $157,500

During 2021, Rapid City's most frequently originated rate bucket was 2.5-3%, with 2,539 originations.

Loan Sizing (RAPID CITY, SD MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 3,087 $838,235,000 $271,537
$100k-200k 2,290 $356,410,000 $155,638
$100,000 or less 453 $28,045,000 $61,909
$400k-600k 411 $194,735,000 $473,808
$600k-1000k 86 $63,990,000 $744,070
$Over $1MM 33 $111,955,000 $3,392,576

RAPID CITY's loan sizing saw the bucket of loans from $200k-400k with 3,087 originations, totaling $838,235,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 2,213 $601,555,000 $271,828
60-80% 1,997 $557,545,000 $279,191
40-60% 834 $164,320,000 $197,026
20-40% 299 $40,315,000 $134,833
Over 100% 215 $67,945,000 $316,023
Under 20% 149 $8,705,000 $58,423

RAPID CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,213 originations, totaling $601,555,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - RAPID CITY (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 $249,900 (4.6%) $325,822 (4.2%) 0.92 816
2018-02-01 $259,400 (8.1%) $330,518 (4.5%) 0.94 835
2018-03-01 $265,000 (6.0%) $334,546 (4.1%) 0.92 855
2018-04-01 $279,900 (8.5%) $342,415 (4.2%) 0.94 881
2018-05-01 $279,450 (9.7%) $342,693 (5.3%) 0.93 969
2018-06-01 $282,000 (12.9%) $348,906 (7.5%) 0.94 985
2018-07-01 $279,900 (12.0%) $349,197 (10.8%) 0.93 987
2018-08-01 $280,950 (12.4%) $352,824 (9.4%) 0.94 987
2018-09-01 $273,000 (9.2%) $345,225 (8.7%) 0.91 1,017
2018-10-01 $275,000 (11.4%) $346,381 (7.4%) 0.92 940
2018-11-01 $276,250 (10.5%) $345,957 (7.0%) 0.93 870
2018-12-01 $272,900 (11.4%) $338,043 (5.7%) 0.93 751
2019-01-01 $269,900 (8.0%) $333,698 (2.4%) 0.93 706
2019-02-01 $269,900 (4.1%) $331,934 (0.4%) 0.90 740
2019-03-01 $272,043 (2.7%) $338,595 (1.2%) 0.89 778
2019-04-01 $273,343 (-2.3%) $342,599 (0.1%) 0.86 820
2019-05-01 $269,000 (-3.7%) $340,315 (-0.7%) 0.83 898
2019-06-01 $269,900 (-4.3%) $342,897 (-1.7%) 0.83 970
2019-07-01 $273,450 (-2.3%) $354,758 (1.6%) 0.85 997
2019-08-01 $271,100 (-3.5%) $357,842 (1.4%) 0.85 956
2019-09-01 $269,900 (-1.1%) $357,330 (3.5%) 0.86 888
2019-10-01 $268,200 (-2.5%) $351,057 (1.4%) 0.86 879
2019-11-01 $269,990 (-2.3%) $363,292 (5.0%) 0.87 829
2019-12-01 $269,950 (-1.1%) $369,878 (9.4%) 0.90 718
2020-01-01 $300,762 (11.4%) $435,801 (30.6%) 1.00 468
2020-02-01 $319,900 (18.5%) $454,112 (36.8%) 1.03 482
2020-03-01 $364,450 (34.0%) $494,295 (46.0%) 1.14 462
2020-04-01 $339,900 (24.4%) $482,640 (40.9%) 1.06 520
2020-05-01 $349,900 (30.1%) $473,880 (39.3%) 1.06 513
2020-06-01 $358,000 (32.6%) $496,942 (44.9%) 1.05 499
2020-07-01 $364,450 (33.3%) $508,074 (43.2%) 1.04 413
2020-08-01 $325,000 (19.9%) $505,632 (41.3%) 0.93 351
2020-09-01 $329,000 (21.9%) $505,928 (41.6%) 0.94 288
2020-10-01 $325,000 (21.2%) $522,189 (48.8%) 0.93 251
2020-11-01 $329,900 (22.2%) $544,035 (49.8%) 0.94 197
2020-12-01 $314,198 (16.4%) $527,928 (42.7%) 0.92 176
2021-01-01 $239,900 (-20.2%) $399,064 (-8.4%) 0.71 167
2021-02-01 $234,500 (-26.7%) $430,919 (-5.1%) 0.67 131
2021-03-01 $299,000 (-18.0%) $461,281 (-6.7%) 0.84 129
2021-04-01 $347,400 (2.2%) $470,553 (-2.5%) 0.93 124
2021-05-01 $359,900 (2.9%) $512,341 (8.1%) 0.95 123
2021-06-01 $362,000 (1.1%) $509,079 (2.4%) 0.94 167
2021-07-01 $379,900 (4.2%) $498,573 (-1.9%) 0.99 194
2021-08-01 $372,400 (14.6%) $475,665 (-5.9%) 0.98 206
2021-09-01 $379,500 (15.4%) $514,683 (1.7%) 1.00 208
2021-10-01 $380,000 (16.9%) $523,563 (0.3%) 1.00 206
2021-11-01 $369,950 (12.1%) $557,177 (2.4%) 0.98 182
2021-12-01 $379,250 (20.7%) $577,517 (9.4%) 1.01 158
2022-01-01 $417,770 (74.1%) $607,133 (52.1%) 1.11 153
2022-02-01 $402,750 (71.8%) $632,605 (46.8%) 1.03 154
2022-03-01 $436,988 (46.2%) $683,931 (48.3%) 1.08 153
2022-04-01 $428,000 (23.2%) $650,940 (38.3%) 1.01 210
RAPID CITY's median listing price for 2022-04-01 was $428,000, a difference of $80,600 (23.2%) versus the prior year and $-8,988 versus the prior month.

RAPID CITY's median listing price comes in at 101% of the national average.

RAPID CITY's average listing price for 2022-04-01 was $650,940, a difference of $180,387 (38.3%) versus the prior year and $-32,991 versus the prior month.

For the 2022-04-01 period, RAPID CITY had 210 MLS listings, a difference of 57 listings (37%) versus the prior month and 86 listings (69%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - RAPID CITY (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 74 days 2,230 sqft
2018-02-01 72 days 2,264 sqft
2018-03-01 58 days 2,288 sqft
2018-04-01 54 days 2,322 sqft
2018-05-01 51 days 2,302 sqft
2018-06-01 47 days 2,318 sqft
2018-07-01 52 days 2,289 sqft
2018-08-01 54 days 2,291 sqft
2018-09-01 53 days 2,258 sqft
2018-10-01 60 days 2,292 sqft
2018-11-01 66 days 2,280 sqft
2018-12-01 75 days 2,245 sqft
2019-01-01 76 days 2,212 sqft
2019-02-01 62 days 2,230 sqft
2019-03-01 57 days 2,245 sqft
2019-04-01 48 days 2,238 sqft
2019-05-01 45 days 2,183 sqft
2019-06-01 49 days 2,166 sqft
2019-07-01 44 days 2,184 sqft
2019-08-01 54 days 2,183 sqft
2019-09-01 55 days 2,181 sqft
2019-10-01 53 days 2,181 sqft
2019-11-01 59 days 2,214 sqft
2019-12-01 72 days 2,192 sqft
2020-01-01 76 days 2,349 sqft
2020-02-01 65 days 2,402 sqft
2020-03-01 49 days 2,381 sqft
2020-04-01 47 days 2,375 sqft
2020-05-01 54 days 2,336 sqft
2020-06-01 55 days 2,340 sqft
2020-07-01 59 days 2,358 sqft
2020-08-01 58 days 2,284 sqft
2020-09-01 56 days 2,256 sqft
2020-10-01 45 days 2,181 sqft
2020-11-01 47 days 2,122 sqft
2020-12-01 43 days 2,009 sqft
2021-01-01 22 days 1,808 sqft
2021-02-01 39 days 1,773 sqft
2021-03-01 47 days 1,950 sqft
2021-04-01 22 days 2,086 sqft
2021-05-01 15 days 2,216 sqft
2021-06-01 16 days 2,198 sqft
2021-07-01 17 days 1,986 sqft
2021-08-01 27 days 1,805 sqft
2021-09-01 28 days 1,952 sqft
2021-10-01 32 days 1,904 sqft
2021-11-01 39 days 1,852 sqft
2021-12-01 44 days 1,848 sqft
2022-01-01 48 days 1,920 sqft
2022-02-01 36 days 1,945 sqft
2022-03-01 30 days 2,014 sqft
2022-04-01 25 days 2,008 sqft
RAPID CITY's median listing age (time on market) for 2022-04-01 was 25 days. This is 14% longer than the same period one year ago.

RAPID CITY's median square footage for active listings during the 2022-04-01 period was 2,008 sqft. One year prior, the average listing was 2,086 sqft.