Vermillion Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Vermillion averaged
7.05%
for the week of 2023-11-22, compared to the national average of
7.29% for the same period.
The average rate for the prior week (2023-11-16) was
7.2% and
one month ago for the week of 2023-10-19, the
average rate was 7.39%.
Vermillion's average rate one year ago was 6.27%.
For refis of the same type during the week of 2023-11-22, the average rate
was 7.69%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-11-22 | 7.29% |
Vermillion 30 Year Fixed Rate | 2023-11-22 | 7.05% |
Vermillion 30 Year Fixed Rate Refi | 2023-11-22 | 7.69% |
Vermillion 15 Year Fixed Rate | 2023-11-22 | 6.47% |
Vermillion 15 Year Fixed Rate Refi | 2023-11-22 | 6.77% |
Vermillion 30 Year FHA | 2023-11-22 | 0% |
Vermillion 30 Year FHA Refi | 2023-11-22 | -0.1% |
Vermillion 30 Year USDA | 2023-11-22 | 0% |
Vermillion 30 Year USDA Refi | 2023-11-22 | 0% |
Vermillion 30 Year VA | 2023-11-22 | 0% |
Vermillion 30 Year VA Refi | 2023-11-22 | 0.1% |
Vermillion 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 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.).
Vermillion Average Closing Costs & Other Stats
Vermillion, SD's 28 lenders originated 270
loans during 2022. The total origination value was $54,050,000, with an average loan value of
$200,185.
Vermillion's average closing costs are $4,211.
The top Vermillion lender as defined by loan originations is First Dakota National Bank, with
26 loans originated. Their average total fees are
$3,130, which is $1,521
lower than the next largest lender,
Plains Commerce Bank.
The lowest fee Vermillion lenders (with over 10 loans originated) are
First Dakota National Bank ($3,130), Plains Commerce Bank ($4,651), .
The lowest rate Vermillion lenders (with over 10 loans originated) are
First Dakota National Bank (4.84%), Plains Commerce Bank (5.07%), .
Vermillion, 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 |
---|---|---|---|---|
First Dakota National Bank | $17,070,000 | $11,780,000 | -31.0% | 21.8% |
First Bank & Trust | $6,375,000 | $7,345,000 | 15.2% | 13.6% |
Plains Commerce Bank | $11,785,000 | $6,885,000 | -41.6% | 12.7% |
Bank of the West | $5,500,000 | $3,005,000 | -45.4% | 5.6% |
CORTRUST MORTGAGE, INC. | $2,735,000 | $2,005,000 | -26.7% | 3.7% |
QUICKEN LOANS, LLC | $4,955,000 | $1,510,000 | -69.5% | 2.8% |
CU MORTGAGE DIRECT, LLC | $3,155,000 | $1,460,000 | -53.7% | 2.7% |
First PREMIER Bank | $2,405,000 | $1,445,000 | -39.9% | 2.7% |
Central Bank | $420,000 | $1,320,000 | 214.3% | 2.4% |
CorTrust Bank | $180,000 | $1,255,000 | 597.2% | 2.3% |
USAA Federal Savings Bank | $560,000 | $1,115,000 | 99.1% | 2.1% |
First National Bank of Omaha | $280,000 | $1,110,000 | 296.4% | 2.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,010,000 | $1,015,000 | 0.5% | 1.9% |
Prudential Huntoon Paige Associates, LLC | $895,000 | n/a | 1.7% | |
Northwest Bank | $855,000 | n/a | 1.6% | |
TRIAD FINANCIAL SERVICES, INC. | $105,000 | $640,000 | 509.5% | 1.2% |
Wells Fargo Bank | $3,505,000 | $600,000 | -82.9% | 1.1% |
CROSSCOUNTRY MORTGAGE, LLC | $785,000 | $560,000 | -28.7% | 1.0% |
Reliabank Dakota | $545,000 | n/a | 1.0% | |
BLACK HILLS FEDERAL CREDIT UNION | $205,000 | $525,000 | 156.1% | 1.0% |
21ST MORTGAGE CORPORATION | $480,000 | $510,000 | 6.3% | 0.9% |
The First National Bank in Sioux Falls | $475,000 | $485,000 | 2.1% | 0.9% |
First International Bank & Trust | $470,000 | n/a | 0.9% | |
U.S. Bank | $660,000 | $435,000 | -34.1% | 0.8% |
UNITED WHOLESALE MORTGAGE, LLC | $385,000 | n/a | 0.7% | |
American Mortgage & Equity Consultants, Inc. | $305,000 | n/a | 0.6% | |
Farm Credit Mid-America, ACA | $995,000 | $305,000 | -69.3% | 0.6% |
Flanagan State Bank | $345,000 | $305,000 | -11.6% | 0.6% |
SERVICE FIRST FEDERAL CREDIT UNION | $305,000 | n/a | 0.6% | |
NEWREZ LLC | $290,000 | n/a | 0.5% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $285,000 | n/a | 0.5% | |
GUARANTEED RATE, INC. | $1,015,000 | $275,000 | -72.9% | 0.5% |
ZILLOW HOME LOANS, LLC | $275,000 | n/a | 0.5% | |
NAVY FEDERAL CREDIT UNION | $320,000 | $255,000 | -20.3% | 0.5% |
American Bank & Trust | $245,000 | $225,000 | -8.2% | 0.4% |
Citizens Bank | $225,000 | n/a | 0.4% | |
Premier Bank | $175,000 | $225,000 | 28.6% | 0.4% |
MID AMERICA MORTGAGE, INC. | $135,000 | $215,000 | 59.3% | 0.4% |
BROKER SOLUTIONS, INC. | $655,000 | $195,000 | -70.2% | 0.4% |
LOANDEPOT.COM, LLC | $205,000 | $195,000 | -4.9% | 0.4% |
Heritage Bank | $190,000 | n/a | 0.4% | |
First Savings Bank | $185,000 | n/a | 0.3% | |
Minnwest Bank | $165,000 | n/a | 0.3% | |
Truist | $165,000 | n/a | 0.3% | |
Community Mortgage Banc Corporation | $865,000 | $155,000 | -82.1% | 0.3% |
HIGHMARK | $155,000 | n/a | 0.3% | |
Mortgage Research Center, LLC | $745,000 | $155,000 | -79.2% | 0.3% |
PNC Bank | $135,000 | n/a | 0.2% | |
First Interstate Bank | $145,000 | $125,000 | -13.8% | 0.2% |
PENNYMAC LOAN SERVICES, LLC | $495,000 | $105,000 | -78.8% | 0.2% |
AMERISAVE MORTGAGE CORPORATION | $315,000 | $95,000 | -69.8% | 0.2% |
Chicago Mortgage Solutions LLC | $95,000 | n/a | 0.2% | |
BANKWEST, INC. | $1,390,000 | $90,000 | -93.5% | 0.2% |
Citizens Bank Minnesota | $75,000 | n/a | 0.1% | |
Midwest Heritage Bank FSB | $65,000 | n/a | 0.1% | |
SIOUX FALLS | $55,000 | n/a | 0.1% | |
The Security National Bank of Sioux City, Iowa | $5,000 | n/a | 0.0% |
Vermillion's top lender by overall market share is First Dakota National Bank, with 21.8% market share. In second place, with 13.6%, is First Bank & Trust, having originated $7,345,000 in loans. In third place, with 12.7%, is Plains Commerce Bank, having originated $6,885,000 in loans. In fourth place, with 5.6%, is Bank of the West, having originated $3,005,000 in loans. In fifth place, with 3.7%, is CORTRUST MORTGAGE, INC., having originated $2,005,000 in loans.
Vermillion Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Vermillion (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 | $150,725 (-18.0%) | $173,677 (-7.0%) | 0.00 | 26 |
2018-02-01 | $179,925 (-1.8%) | $203,648 (8.8%) | 0.00 | 28 |
2018-03-01 | $219,500 (17.6%) | $216,027 (10.2%) | 0.00 | 30 |
2018-04-01 | $225,925 (18.3%) | $232,509 (13.2%) | 0.00 | 36 |
2018-05-01 | $216,425 (22.0%) | $223,744 (10.3%) | 0.00 | 30 |
2018-06-01 | $220,000 (25.7%) | $223,461 (11.8%) | 0.00 | 33 |
2018-07-01 | $225,900 (27.3%) | $224,433 (18.5%) | 0.00 | 33 |
2018-08-01 | $181,150 (1.3%) | $199,425 (4.7%) | 0.00 | 35 |
2018-09-01 | $189,950 (11.8%) | $207,871 (14.7%) | 0.00 | 24 |
2018-10-01 | $179,900 (4.3%) | $204,614 (14.8%) | 0.00 | 22 |
2018-11-01 | $203,725 (30.4%) | $225,184 (28.4%) | 0.00 | 20 |
2018-12-01 | $259,900 (74.4%) | $258,347 (47.2%) | 0.00 | 17 |
2019-01-01 | $254,950 (69.2%) | $247,153 (42.3%) | 0.00 | 16 |
2019-02-01 | $264,450 (47.0%) | $253,660 (24.6%) | 0.00 | 23 |
2019-03-01 | $241,786 (10.2%) | $245,136 (13.5%) | 0.00 | 25 |
2019-04-01 | $227,011 (0.5%) | $238,918 (2.8%) | 0.00 | 26 |
2019-05-01 | $183,700 (-15.1%) | $199,676 (-10.8%) | 0.00 | 24 |
2019-06-01 | $189,900 (-13.7%) | $224,406 (0.4%) | 0.00 | 31 |
2019-07-01 | $184,950 (-18.1%) | $207,916 (-7.4%) | 0.00 | 36 |
2019-08-01 | $178,108 (-1.7%) | $203,425 (2.0%) | 0.00 | 36 |
2019-09-01 | $167,919 (-11.6%) | $208,409 (0.3%) | 0.00 | 34 |
2019-10-01 | $161,127 (-10.4%) | $211,829 (3.5%) | 0.00 | 32 |
2019-11-01 | $159,948 (-21.5%) | $216,159 (-4.0%) | 0.00 | 30 |
2019-12-01 | $154,500 (-40.6%) | $225,688 (-12.6%) | 0.00 | 26 |
2020-01-01 | $156,950 (-38.4%) | $238,896 (-3.3%) | 0.00 | 23 |
2020-02-01 | $139,900 (-47.1%) | $209,074 (-17.6%) | 0.00 | 27 |
2020-03-01 | $159,450 (-34.1%) | $220,990 (-9.9%) | 0.00 | 26 |
2020-04-01 | $158,675 (-30.1%) | $237,158 (-0.7%) | 0.00 | 27 |
2020-05-01 | $199,900 (8.8%) | $255,561 (28.0%) | 0.00 | 28 |
2020-06-01 | $198,675 (4.6%) | $260,713 (16.2%) | 0.00 | 29 |
2020-07-01 | $196,225 (6.1%) | $273,595 (31.6%) | 0.00 | 29 |
2020-08-01 | $189,900 (6.6%) | $284,648 (39.9%) | 0.00 | 24 |
2020-09-01 | $181,925 (8.3%) | $283,441 (36.0%) | 0.00 | 24 |
2020-10-01 | $179,000 (11.1%) | $286,787 (35.4%) | 0.00 | 25 |
2020-11-01 | $169,900 (6.2%) | $230,993 (6.9%) | 0.00 | 27 |
2020-12-01 | $236,175 (52.9%) | $305,567 (35.4%) | 0.00 | 17 |
2021-01-01 | $289,900 (84.7%) | $323,650 (35.5%) | 0.00 | 14 |
2021-02-01 | $279,900 (100.1%) | $323,506 (54.7%) | 0.00 | 14 |
2021-03-01 | $198,675 (24.6%) | $276,535 (25.1%) | 0.00 | 14 |
2021-04-01 | $231,450 (45.9%) | $368,735 (55.5%) | 0.00 | 14 |
2021-05-01 | $199,900 (0.0%) | $333,105 (30.3%) | 0.00 | 19 |
2021-06-01 | $248,725 (25.2%) | $333,866 (28.1%) | 0.00 | 20 |
2021-07-01 | $215,000 (9.6%) | $289,045 (5.7%) | 0.00 | 23 |
2021-08-01 | $212,200 (11.7%) | $283,110 (-0.5%) | 0.00 | 21 |
2021-09-01 | $199,900 (9.9%) | $299,284 (5.6%) | 0.00 | 17 |
2021-10-01 | $235,000 (31.3%) | $300,704 (4.9%) | 0.00 | 17 |
2021-11-01 | $196,450 (15.6%) | $281,439 (21.8%) | 0.00 | 19 |
2021-12-01 | $227,200 (-3.8%) | $302,384 (-1.0%) | 0.00 | 17 |
2022-01-01 | $254,950 (-12.1%) | $331,681 (2.5%) | 0.00 | 14 |
2022-02-01 | $257,400 (-8.0%) | $278,522 (-13.9%) | 0.00 | 10 |
2022-03-01 | $234,950 (18.3%) | $354,124 (28.1%) | 0.00 | 11 |
2022-04-01 | $326,500 (41.1%) | $468,717 (27.1%) | 0.00 | 13 |
2022-05-01 | $328,700 (64.4%) | $508,130 (52.5%) | 0.00 | 13 |
2022-06-01 | $377,400 (51.7%) | $502,256 (50.4%) | 0.00 | 17 |
2022-07-01 | $269,900 (25.5%) | $438,814 (51.8%) | 0.00 | 20 |
2022-08-01 | $213,500 (0.6%) | $329,579 (16.4%) | 0.00 | 27 |
2022-09-01 | $224,900 (12.5%) | $374,251 (25.1%) | 0.00 | 32 |
2022-10-01 | $247,450 (5.3%) | $347,320 (15.5%) | 0.00 | 26 |
2022-11-01 | $269,750 (37.3%) | $369,532 (31.3%) | 0.00 | 19 |
2022-12-01 | $279,500 (23.0%) | $391,100 (29.3%) | 0.00 | 16 |
2023-01-01 | $288,500 (13.2%) | $263,748 (-20.5%) | 0.00 | 14 |
2023-02-01 | $282,850 (9.9%) | $279,867 (0.5%) | 0.00 | 9 |
2023-03-01 | $263,750 (12.3%) | $268,236 (-24.3%) | 0.00 | 9 |
2023-04-01 | $199,900 (-38.8%) | $264,150 (-43.6%) | 0.00 | 11 |
2023-05-01 | $215,000 (-34.6%) | $259,208 (-49.0%) | 0.00 | 19 |
2023-06-01 | $239,750 (-36.5%) | $261,937 (-47.9%) | 0.00 | 24 |
2023-07-01 | $237,540 (-12.0%) | $271,515 (-38.1%) | 0.00 | 20 |
2023-08-01 | $247,200 (15.8%) | $278,637 (-15.5%) | 0.00 | 18 |
2023-09-01 | $295,000 (31.2%) | $316,300 (-15.5%) | 0.00 | 17 |
2023-10-01 | $286,250 (15.7%) | $323,456 (-6.9%) | 0.00 | 16 |
Vermillion's median listing price comes in at 0% of the national average.
Vermillion's average listing price for 2023-10-01 was $323,456, a difference of $-23,864 (-6.9%) versus the prior year and $7,156 versus the prior month.
For the 2023-10-01 period, Vermillion had 16 MLS listings, a difference of -1 listings (-6%) versus the prior month and -10 listings (-38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vermillion (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,920 sqft |
2018-02-01 | 0 days | 2,216 sqft |
2018-03-01 | 0 days | 2,460 sqft |
2018-04-01 | 0 days | 2,460 sqft |
2018-05-01 | 0 days | 2,402 sqft |
2018-06-01 | 0 days | 2,415 sqft |
2018-07-01 | 0 days | 2,373 sqft |
2018-08-01 | 0 days | 2,105 sqft |
2018-09-01 | 0 days | 2,109 sqft |
2018-10-01 | 0 days | 2,108 sqft |
2018-11-01 | 0 days | 2,170 sqft |
2018-12-01 | 0 days | 2,694 sqft |
2019-01-01 | 0 days | 2,480 sqft |
2019-02-01 | 0 days | 2,549 sqft |
2019-03-01 | 0 days | 2,172 sqft |
2019-04-01 | 0 days | 1,803 sqft |
2019-05-01 | 0 days | 1,912 sqft |
2019-06-01 | 0 days | 1,901 sqft |
2019-07-01 | 0 days | 1,846 sqft |
2019-08-01 | 0 days | 1,824 sqft |
2019-09-01 | 0 days | 1,800 sqft |
2019-10-01 | 0 days | 1,782 sqft |
2019-11-01 | 0 days | 1,758 sqft |
2019-12-01 | 0 days | 1,693 sqft |
2020-01-01 | 0 days | 1,532 sqft |
2020-02-01 | 0 days | 1,474 sqft |
2020-03-01 | 0 days | 1,516 sqft |
2020-04-01 | 0 days | 1,524 sqft |
2020-05-01 | 0 days | 1,540 sqft |
2020-06-01 | 0 days | 1,798 sqft |
2020-07-01 | 0 days | 1,944 sqft |
2020-08-01 | 0 days | 1,825 sqft |
2020-09-01 | 0 days | 1,836 sqft |
2020-10-01 | 0 days | 1,846 sqft |
2020-11-01 | 0 days | 1,830 sqft |
2020-12-01 | 0 days | 1,874 sqft |
2021-01-01 | 0 days | 2,133 sqft |
2021-02-01 | 0 days | 2,340 sqft |
2021-03-01 | 0 days | 2,354 sqft |
2021-04-01 | 0 days | 2,318 sqft |
2021-05-01 | 0 days | 2,252 sqft |
2021-06-01 | 0 days | 2,279 sqft |
2021-07-01 | 0 days | 2,184 sqft |
2021-08-01 | 0 days | 2,095 sqft |
2021-09-01 | 0 days | 2,281 sqft |
2021-10-01 | 0 days | 1,930 sqft |
2021-11-01 | 0 days | 1,582 sqft |
2021-12-01 | 0 days | 1,651 sqft |
2022-01-01 | 0 days | 1,560 sqft |
2022-02-01 | 0 days | 2,314 sqft |
2022-03-01 | 0 days | 1,554 sqft |
2022-04-01 | 0 days | 1,749 sqft |
2022-05-01 | 0 days | 1,660 sqft |
2022-06-01 | 0 days | 2,214 sqft |
2022-07-01 | 0 days | 1,820 sqft |
2022-08-01 | 0 days | 1,697 sqft |
2022-09-01 | 0 days | 1,689 sqft |
2022-10-01 | 0 days | 1,728 sqft |
2022-11-01 | 0 days | 1,740 sqft |
2022-12-01 | 0 days | 1,760 sqft |
2023-01-01 | 0 days | 2,264 sqft |
2023-02-01 | 0 days | 2,262 sqft |
2023-03-01 | 0 days | 2,033 sqft |
2023-04-01 | 0 days | 1,947 sqft |
2023-05-01 | 0 days | 2,044 sqft |
2023-06-01 | 0 days | 1,948 sqft |
2023-07-01 | 0 days | 1,728 sqft |
2023-08-01 | 0 days | 1,635 sqft |
2023-09-01 | 0 days | 1,752 sqft |
2023-10-01 | 0 days | 2,065 sqft |
Vermillion's median square footage for active listings during the 2023-10-01 period was 2,065 sqft. One year prior, the average listing was 1,728 sqft.
Vermillion, SD Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 183 | $41,755,000 | $228,169 |
Cash Out Refi | 34 | $6,200,000 | $182,353 |
Refi | 27 | $4,275,000 | $158,333 |
Home Improvement | 15 | $765,000 | $51,000 |
Other | 11 | $1,055,000 | $95,909 |
Vermillion's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 68 | $17,270,000 | $253,971 |
4-5% | 63 | $14,135,000 | $224,365 |
6-7% | 40 | $7,230,000 | $180,750 |
3-4% | 39 | $8,585,000 | $220,128 |
7-8% | 18 | $1,600,000 | $88,889 |
Over 8% | 15 | $585,000 | $39,000 |
2.5-3% | 7 | $1,625,000 | $232,143 |
<2.5% | 6 | $890,000 | $148,333 |
During 2022, Vermillion's most frequently originated rate bucket was 5-6%, with 68 originations.
Loan Sizing (Vermillion, SD MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 95 | $14,475,000 | $152,368 |
$200k-400k | 81 | $22,185,000 | $273,889 |
$100,000 or less | 71 | $3,455,000 | $48,662 |
$400k-600k | 19 | $8,875,000 | $467,105 |
$Over $1MM | 3 | $4,165,000 | $1,388,333 |
$600k-1000k | 1 | $895,000 | $895,000 |
Vermillion's loan sizing saw the bucket of loans from $100k-200k with 95 originations, totaling $14,475,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 117 | $26,565,000 | $227,051 |
60-80% | 60 | $15,940,000 | $265,667 |
Under 20% | 22 | $1,430,000 | $65,000 |
20-40% | 21 | $2,975,000 | $141,667 |
40-60% | 21 | $4,225,000 | $201,190 |
Vermillion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 117 originations, totaling $26,565,000 in origination value.