Vermillion Mortgage Rates

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

    30 Year Fixed Rate mortgages in Vermillion averaged 5.72% 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 5.73% and one month ago for the week of 2022-05-26, the average rate was 4.92%.

    Vermillion's average rate one year ago was 3.39%.

    For refis of the same type during the week of 2022-06-30, the average rate was 5.58%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2022-06-30 5.7%
    Vermillion 30 Year Fixed Rate 2022-06-30 5.72%
    Vermillion 30 Year Fixed Rate Refi 2022-06-30 5.58%
    Vermillion 15 Year Fixed Rate 2022-06-30 6.79%
    Vermillion 15 Year Fixed Rate Refi 2022-06-30 4.9%
    Vermillion 30 Year FHA 2022-06-30 5.2%
    Vermillion 30 Year FHA Refi 2022-06-30 5.25%
    Vermillion 30 Year USDA 2022-06-30 5.52%
    Vermillion 30 Year VA 2022-06-30 5.76%
    Vermillion 30 Year VA Refi 2022-06-30 4.99%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Vermillion, SD.

    Vermillion 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 Vermillion, 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
    First Dakota National Bank 42 2.94% $2,278
    Plains Commerce Bank 33 3.20% $3,414
    Bank of the West 11 3.13% $5,139
    CORTRUST MORTGAGE, INC. 10 2.99% $4,359
    CU MORTGAGE DIRECT, LLC 8 3.13% $4,528
    First Bank & Trust 6 3.08% $3,166
    QUICKEN LOANS, LLC 6 3.06% $6,619
    Wells Fargo Bank 4 3.22% $3,706
    GUARANTEED RATE, INC. 3 3.00% $4,053
    Farm Credit Mid-America, ACA 3 3.43% $6,723
    Ally Bank 2 3.06% $2,030
    Bank of America 2 2.81% $2,539
    BETTER MORTGAGE CORPORATION 2 2.75% $2,004
    BROKER SOLUTIONS, INC. 2 2.94% $4,522
    First PREMIER Bank 2 3.96% $5,064
    Great Western Bank 2 3.13% $2,343
    NAVY FEDERAL CREDIT UNION 2 2.94% $2,565
    U.S. Bank 2 3.12% $1,956
    CALIBER HOME LOANS, INC. 1 3.05% $3,290
    First Interstate Bank 1 3.13% $3,316
    First National Bank of Omaha 1 2.88% $2,319
    The First National Bank in Sioux Falls 1 2.75% $3,156
    Flanagan State Bank 1 2.88% $12,099
    FREEDOM MORTGAGE CORPORATION 1 2.88% $1,488
    Wyndham Capital Mortgage, Inc. 1 3.13% $2,972
    BNC National Bank 1 2.63% $3,120
    IOWA BANKERS MORTGAGE CORPORATION 1 3.25% $6,909
    MANN FINANCIAL INC. 1 3.13% $2,731
    Mr. Cooper ( Nationstar Mortgage ) 1 3.63% $5,675
    American State Bank 1 2.63% $1,680
    BLACK HILLS FEDERAL CREDIT UNION 1 2.99% $4,469
    Bell Bank 1 2.88% $3,320
    Stifel Bank and Trust 1 2.88% $1,803
    Community Mortgage Banc Corporation 1 3.00% $11,381
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $3,804
    CMG MORTGAGE, INC. 1 3.25% $2,967
    Central Bank 1 3.13% $2,378

    Vermillion, SD's 37 lenders originated 402 loans during 2021. The total origination value was $79,810,000, with an average loan value of $198,532.

    The top Vermillion lender as defined by loan originations is First Dakota National Bank, with 42 loans originated. Their average total fees are $2,278, which is $1,135 lower than the next largest lender, Plains Commerce Bank.

    The lowest fee Vermillion lenders (with over 10 loans originated) are First Dakota National Bank ($2,278), Plains Commerce Bank ($3,414), CORTRUST MORTGAGE, INC. ($4,359), Bank of the West ($5,139) and .

    The lowest rate Vermillion lenders (with over 10 loans originated) are First Dakota National Bank (2.94%), CORTRUST MORTGAGE, INC. (2.99%), Bank of the West (3.13%), Plains Commerce Bank (3.20%) and .

    Vermillion, 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
    First Dakota National Bank $17,240,000 $17,070,000 -1.0% 21.4%
    Plains Commerce Bank $12,320,000 $11,785,000 -4.3% 14.8%
    First Bank & Trust $1,685,000 $6,375,000 278.3% 8.0%
    Bank of the West $3,480,000 $5,500,000 58.0% 6.9%
    QUICKEN LOANS, LLC $5,165,000 $4,955,000 -4.1% 6.2%
    Wells Fargo Bank $715,000 $3,505,000 390.2% 4.4%
    CU MORTGAGE DIRECT, LLC $3,645,000 $3,155,000 -13.4% 4.0%
    CORTRUST MORTGAGE, INC. $2,750,000 $2,735,000 -0.5% 3.4%
    First PREMIER Bank $1,590,000 $2,405,000 51.3% 3.0%
    BANKWEST, INC. $90,000 $1,390,000 1,444.4% 1.7%
    GUARANTEED RATE, INC. $520,000 $1,015,000 95.2% 1.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $225,000 $1,010,000 348.9% 1.3%
    Farm Credit Mid-America, ACA $265,000 $995,000 275.5% 1.2%
    Community Mortgage Banc Corporation $805,000 $865,000 7.5% 1.1%
    FREEDOM MORTGAGE CORPORATION $235,000 $830,000 253.2% 1.0%
    CROSSCOUNTRY MORTGAGE, LLC $480,000 $785,000 63.5% 1.0%
    Mortgage Research Center, LLC $795,000 $745,000 -6.3% 0.9%
    Cobalt Credit Union $725,000 n/a 0.9%
    U.S. Bank $900,000 $660,000 -26.7% 0.8%
    BROKER SOLUTIONS, INC. $655,000 n/a 0.8%
    USAA Federal Savings Bank $215,000 $560,000 160.5% 0.7%
    Ally Bank $145,000 $530,000 265.5% 0.7%
    Bank of America $530,000 n/a 0.7%
    PENNYMAC LOAN SERVICES, LLC $225,000 $495,000 120.0% 0.6%
    21ST MORTGAGE CORPORATION $330,000 $480,000 45.5% 0.6%
    The First National Bank in Sioux Falls $430,000 $475,000 10.5% 0.6%
    BETTER MORTGAGE CORPORATION $215,000 $470,000 118.6% 0.6%
    IOWA BANKERS MORTGAGE CORPORATION $545,000 $445,000 -18.3% 0.6%
    Great Western Bank $565,000 $430,000 -23.9% 0.5%
    Central Bank $185,000 $420,000 127.0% 0.5%
    CALIBER HOME LOANS, INC. $275,000 $395,000 43.6% 0.5%
    Great Southern Bank $385,000 n/a 0.5%
    BNC National Bank $375,000 n/a 0.5%
    DAS Acquisition Company, LLC $375,000 n/a 0.5%
    Flagstar Bank, FSB $85,000 $360,000 323.5% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $350,000 n/a 0.4%
    Flanagan State Bank $345,000 n/a 0.4%
    Wyndham Capital Mortgage, Inc. $325,000 n/a 0.4%
    NAVY FEDERAL CREDIT UNION $320,000 n/a 0.4%
    AMERISAVE MORTGAGE CORPORATION $315,000 n/a 0.4%
    First National Bank of Omaha $280,000 $280,000 0.0% 0.4%
    JPMorgan Chase Bank $270,000 n/a 0.3%
    Bell Bank $255,000 n/a 0.3%
    American Bank & Trust $515,000 $245,000 -52.4% 0.3%
    Northpointe Bank $225,000 n/a 0.3%
    AMERICAN FINANCING CORPORATION $215,000 n/a 0.3%
    BLACK HILLS FEDERAL CREDIT UNION $85,000 $205,000 141.2% 0.3%
    LOANDEPOT.COM, LLC $440,000 $205,000 -53.4% 0.3%
    Stifel Bank and Trust $200,000 n/a 0.3%
    MANN FINANCIAL INC. $195,000 n/a 0.2%
    VILLAGE CAPITAL & INVESTMENT LLC $195,000 n/a 0.2%
    CorTrust Bank $225,000 $180,000 -20.0% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $175,000 n/a 0.2%
    Premier Bank $175,000 n/a 0.2%
    NEW DAY FINANCIAL, LLC $290,000 $165,000 -43.1% 0.2%
    CHURCHILL MORTGAGE CORPORATION $155,000 n/a 0.2%
    AMERICAN ADVISORS GROUP $145,000 n/a 0.2%
    First Interstate Bank $145,000 n/a 0.2%
    MID AMERICA MORTGAGE, INC. $135,000 n/a 0.2%
    CMG MORTGAGE, INC. $125,000 n/a 0.2%
    American State Bank $730,000 $115,000 -84.2% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $25,000 $105,000 320.0% 0.1%
    First Guaranty Mortgage Corporation $95,000 n/a 0.1%
    TCF National Bank $65,000 n/a 0.1%

    Vermillion's top lender by overall market share is First Dakota National Bank, with 21.4% market share. In second place, with 14.8%, is Plains Commerce Bank, having originated $11,785,000 in loans. In third place, with 8.0%, is First Bank & Trust, having originated $6,375,000 in loans. In third place, with 6.9%, is Bank of the West, having originated $5,500,000 in loans. In third place, with 6.2%, is QUICKEN LOANS, LLC, having originated $4,955,000 in loans.

    Vermillion, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 185 $38,735,000 $209,378
    Refi 133 $25,735,000 $193,496
    Cash Out Refi 63 $11,925,000 $189,286
    Other 14 $2,000,000 $142,857
    Home Improvement 7 $1,415,000 $202,143

    Vermillion's most frequently cited loan purpose was Home Purchase, with 185 originations. The 2nd most popular reason was Refi, with 133 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    2.5-3% 173 $35,555,000 $205,520
    3-4% 105 $23,295,000 $221,857
    <2.5% 90 $15,730,000 $174,778
    4-5% 17 $3,865,000 $227,353
    Over 8% 5 $175,000 $35,000
    6-7% 4 $350,000 $87,500
    5-6% 3 $405,000 $135,000
    7-8% 2 $80,000 $40,000

    During 2021, Vermillion's most frequently originated rate bucket was 2.5-3%, with 173 originations.

    Loan Sizing (Vermillion, SD MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 176 $26,350,000 $149,716
    $200k-400k 150 $39,790,000 $265,267
    $100,000 or less 60 $3,960,000 $66,000
    $400k-600k 10 $4,680,000 $468,000
    $600k-1000k 5 $3,935,000 $787,000
    $Over $1MM 1 $1,095,000 $1,095,000

    Vermillion's loan sizing saw the bucket of loans from $100k-200k with 176 originations, totaling $26,350,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 154 $35,360,000 $229,610
    60-80% 144 $28,390,000 $197,153
    40-60% 55 $9,455,000 $171,909
    20-40% 26 $3,370,000 $129,615
    Under 20% 5 $475,000 $95,000
    Over 100% 2 $620,000 $310,000

    Vermillion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 154 originations, totaling $35,360,000 in origination value.

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Vermillion (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 $152,000 (-18.9%) $171,711 (-8.9%) 0.00 25
    2018-02-01 $182,450 (-1.9%) $203,648 (7.2%) 0.00 28
    2018-03-01 $219,000 (15.3%) $213,767 (4.7%) 0.00 31
    2018-04-01 $224,900 (15.4%) $230,477 (9.9%) 0.00 36
    2018-05-01 $209,900 (15.1%) $217,184 (2.6%) 0.00 30
    2018-06-01 $215,900 (20.1%) $216,913 (6.1%) 0.00 31
    2018-07-01 $222,950 (23.9%) $219,507 (13.8%) 0.00 31
    2018-08-01 $179,900 (-1.7%) $200,825 (3.9%) 0.00 33
    2018-09-01 $199,900 (14.2%) $203,870 (11.1%) 0.00 22
    2018-10-01 $174,450 (1.2%) $197,329 (9.8%) 0.00 20
    2018-11-01 $219,500 (37.2%) $221,850 (25.2%) 0.00 17
    2018-12-01 $259,900 (73.4%) $256,525 (45.2%) 0.00 15
    2019-01-01 $219,900 (44.7%) $236,970 (38.0%) 0.00 14
    2019-02-01 $269,000 (47.4%) $248,496 (22.0%) 0.00 21
    2019-03-01 $252,243 (15.2%) $243,046 (13.7%) 0.00 21
    2019-04-01 $232,693 (3.5%) $241,124 (4.6%) 0.00 24
    2019-05-01 $195,000 (-7.1%) $197,848 (-8.9%) 0.00 22
    2019-06-01 $189,900 (-12.0%) $196,080 (-9.6%) 0.00 28
    2019-07-01 $179,900 (-19.3%) $185,532 (-15.5%) 0.00 33
    2019-08-01 $175,443 (-2.5%) $174,031 (-13.3%) 0.00 34
    2019-09-01 $164,748 (-17.6%) $163,725 (-19.7%) 0.00 28
    2019-10-01 $159,995 (-8.3%) $167,877 (-14.9%) 0.00 29
    2019-11-01 $159,900 (-27.2%) $165,152 (-25.6%) 0.00 25
    2019-12-01 $154,500 (-40.6%) $171,462 (-33.2%) 0.00 21
    2020-01-01 $154,500 (-29.7%) $167,237 (-29.4%) 0.00 19
    2020-02-01 $139,900 (-48.0%) $149,313 (-39.9%) 0.00 24
    2020-03-01 $159,000 (-37.0%) $160,556 (-33.9%) 0.00 22
    2020-04-01 $153,450 (-34.1%) $182,890 (-24.2%) 0.00 23
    2020-05-01 $169,900 (-12.9%) $205,982 (4.1%) 0.00 23
    2020-06-01 $195,000 (2.7%) $210,694 (7.5%) 0.00 23
    2020-07-01 $195,000 (8.4%) $224,167 (20.8%) 0.00 25
    2020-08-01 $185,000 (5.5%) $218,470 (25.5%) 0.00 20
    2020-09-01 $175,000 (6.2%) $213,708 (30.5%) 0.00 19
    2020-10-01 $175,000 (9.4%) $226,696 (35.0%) 0.00 22
    2020-11-01 $169,900 (6.3%) $230,622 (39.6%) 0.00 23
    2020-12-01 $269,900 (74.7%) $325,013 (89.6%) 0.00 13
    2021-01-01 $309,900 (100.6%) $350,262 (109.4%) 0.00 11
    2021-02-01 $309,900 (121.5%) $350,554 (134.8%) 0.00 12
    2021-03-01 $199,900 (25.7%) $276,535 (72.2%) 0.00 13
    2021-04-01 $212,900 (38.7%) $292,606 (60.0%) 0.00 11
    2021-05-01 $199,900 (17.7%) $275,300 (33.7%) 0.00 16
    2021-06-01 $247,450 (26.9%) $276,023 (31.0%) 0.00 17
    2021-07-01 $244,900 (25.6%) $259,769 (15.9%) 0.00 22
    2021-08-01 $232,450 (25.7%) $252,294 (15.5%) 0.00 19
    2021-09-01 $199,900 (14.2%) $261,859 (22.5%) 0.00 15
    2021-10-01 $235,000 (34.3%) $272,527 (20.2%) 0.00 14
    2021-11-01 $205,000 (20.7%) $257,912 (11.8%) 0.00 15
    2021-12-01 $230,000 (-14.8%) $268,437 (-17.4%) 0.00 14
    2022-01-01 $239,900 (-22.6%) $279,779 (-20.1%) 0.00 13
    2022-02-01 $317,450 (2.4%) $314,676 (-10.2%) 0.00 9
    2022-03-01 $287,450 (43.8%) $315,702 (14.2%) 0.00 8
    2022-04-01 $350,000 (64.4%) $379,180 (29.6%) 0.00 8
    2022-05-01 $382,400 (91.3%) $384,497 (39.7%) 0.00 9
    2022-06-01 $382,400 (54.5%) $403,748 (46.3%) 0.00 14
    Vermillion's median listing price for 2022-06-01 was $382,400, a difference of $134,950 (54.5%) versus the prior year and $0 versus the prior month.

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

    Vermillion's average listing price for 2022-06-01 was $403,748, a difference of $127,725 (46.3%) versus the prior year and $19,251 versus the prior month.

    For the 2022-06-01 period, Vermillion had 14 MLS listings, a difference of 5 listings (56%) versus the prior month and -3 listings (-18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vermillion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 2,252 sqft
    2018-03-01 0 days 2,460 sqft
    2018-04-01 0 days 2,460 sqft
    2018-05-01 0 days 2,405 sqft
    2018-06-01 0 days 2,460 sqft
    2018-07-01 0 days 2,407 sqft
    2018-08-01 0 days 2,112 sqft
    2018-09-01 0 days 2,112 sqft
    2018-10-01 0 days 2,109 sqft
    2018-11-01 0 days 2,204 sqft
    2018-12-01 0 days 2,808 sqft
    2019-01-01 0 days 2,378 sqft
    2019-02-01 0 days 2,568 sqft
    2019-03-01 0 days 2,216 sqft
    2019-04-01 0 days 1,820 sqft
    2019-05-01 0 days 1,950 sqft
    2019-06-01 0 days 1,901 sqft
    2019-07-01 0 days 1,840 sqft
    2019-08-01 0 days 1,802 sqft
    2019-09-01 0 days 1,784 sqft
    2019-10-01 0 days 1,757 sqft
    2019-11-01 0 days 1,680 sqft
    2019-12-01 0 days 1,608 sqft
    2020-01-01 0 days 1,478 sqft
    2020-02-01 0 days 1,325 sqft
    2020-03-01 0 days 1,478 sqft
    2020-04-01 0 days 1,500 sqft
    2020-05-01 0 days 1,539 sqft
    2020-06-01 0 days 1,787 sqft
    2020-07-01 0 days 1,924 sqft
    2020-08-01 0 days 1,787 sqft
    2020-09-01 0 days 1,792 sqft
    2020-10-01 0 days 1,825 sqft
    2020-11-01 0 days 1,809 sqft
    2020-12-01 0 days 1,931 sqft
    2021-01-01 0 days 2,300 sqft
    2021-02-01 0 days 2,494 sqft
    2021-03-01 0 days 2,408 sqft
    2021-04-01 0 days 2,318 sqft
    2021-05-01 0 days 2,288 sqft
    2021-06-01 0 days 2,300 sqft
    2021-07-01 0 days 2,184 sqft
    2021-08-01 0 days 2,065 sqft
    2021-09-01 0 days 2,065 sqft
    2021-10-01 0 days 1,825 sqft
    2021-11-01 0 days 1,657 sqft
    2021-12-01 0 days 1,785 sqft
    2022-01-01 0 days 1,825 sqft
    2022-02-01 0 days 2,786 sqft
    2022-03-01 0 days 1,771 sqft
    2022-04-01 0 days 1,950 sqft
    2022-05-01 0 days 2,103 sqft
    2022-06-01 0 days 2,313 sqft
    Vermillion's median listing age (time on market) for 2022-06-01 was 0 days.

    Vermillion's median square footage for active listings during the 2022-06-01 period was 2,313 sqft. One year prior, the average listing was 2,300 sqft.