Yankton 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 Yankton averaged 6% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

    The average rate for the prior week (2024-10-03) was 6% and one month ago for the week of 2024-09-05, the average rate was 6.43%.

    Yankton's average rate one year ago was 7.47%.

    For refis of the same type during the week of 2024-10-10, the average rate was 6.22%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-10-10 6.32%
    Yankton 30 Year Fixed Rate 2024-10-10 6%
    Yankton 30 Year Fixed Rate Refi 2024-10-10 6.22%
    Yankton 15 Year Fixed Rate 2024-10-10 5.61%
    Yankton 15 Year Fixed Rate Refi 2024-10-10 5.91%
    Yankton 30 Year FHA 2024-10-10 6.1%
    Yankton 30 Year FHA Refi 2024-10-10 6.2%
    Yankton 30 Year USDA 2024-10-10 6.28%
    Yankton 30 Year USDA Refi 2024-10-10 6.28%
    Yankton 30 Year VA 2024-10-10 5.85%
    Yankton 30 Year VA Refi 2024-10-10 5.95%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Yankton, SD.

    Yankton 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 Yankton, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    First Dakota National Bank 47 6.49% $2,659
    CORTRUST MORTGAGE, INC. 12 6.69% $4,402
    CU MORTGAGE DIRECT, LLC 7 6.25% $3,778
    Plains Commerce Bank 6 6.69% $4,120
    First National Bank of Omaha 6 6.58% $4,132
    QUICKEN LOANS, LLC 6 6.83% $4,659
    CROSSCOUNTRY MORTGAGE, LLC 4 7.62% $7,377
    NAVY FEDERAL CREDIT UNION 3 8.17% $3,899
    GUARANTEED RATE, INC. 3 7.38% $4,769
    Wells Fargo Bank 3 6.17% $3,903
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.50% $3,067
    Farm Credit Mid-America, ACA 2 7.19% $7,572
    U.S. Bank 1 6.13% $2,840
    American Bank & Trust 1 6.25% $2,197
    West Gate Bank 1 6.38% $2,039
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $9,065
    AMERISAVE MORTGAGE CORPORATION 1 5.38% $7,021
    BANKWEST, INC. 1 6.63% $5,367
    BAY EQUITY LLC 1 6.38% $3,030
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $4,827
    First Bank & Trust 1 4.88% $4,077
    First International Bank & Trust 1 6.38% $5,629
    First Interstate Bank 1 7.13% $3,272
    NEWREZ LLC 1 6.63% $6,344
    PENNYMAC LOAN SERVICES, LLC 1 6.00% $3,647
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $5,801

    Yankton Average Closing Costs & Other Stats

    Yankton, SD's 26 lenders originated 294 loans during 2023. The total origination value was $67,050,000, with an average loan value of $228,061.

    Yankton's average closing costs are $4,102.

    The top Yankton lender as defined by loan originations is First Dakota National Bank, with 47 loans originated. Their average total fees are $2,659, which is $1,743 lower than the next largest lender, CORTRUST MORTGAGE, INC..

    The lowest fee Yankton lenders (with over 10 loans originated) are First Dakota National Bank ($2,659), CORTRUST MORTGAGE, INC. ($4,402), .

    The lowest rate Yankton lenders (with over 10 loans originated) are First Dakota National Bank (6.49%), CORTRUST MORTGAGE, INC. (6.69%), .

    Yankton, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    First Dakota National Bank $25,625,000 $19,430,000 -24.2% 29.0%
    American Bank & Trust $310,000 $5,030,000 1,522.6% 7.5%
    First National Bank of Omaha $5,895,000 $3,675,000 -37.7% 5.5%
    Minnwest Bank $3,005,000 n/a 4.5%
    QUICKEN LOANS, LLC $4,560,000 $2,920,000 -36.0% 4.4%
    CorTrust Bank $1,765,000 $2,810,000 59.2% 4.2%
    CROSSCOUNTRY MORTGAGE, LLC $1,785,000 $2,780,000 55.7% 4.1%
    CORTRUST MORTGAGE, INC. $5,185,000 $2,770,000 -46.6% 4.1%
    Plains Commerce Bank $2,420,000 $2,525,000 4.3% 3.8%
    First International Bank & Trust $4,485,000 $2,500,000 -44.3% 3.7%
    CU MORTGAGE DIRECT, LLC $2,595,000 $1,810,000 -30.3% 2.7%
    Farm Credit Mid-America, ACA $660,000 $1,760,000 166.7% 2.6%
    Mortgage Research Center, LLC $1,085,000 $1,450,000 33.6% 2.2%
    NAVY FEDERAL CREDIT UNION $680,000 $1,285,000 89.0% 1.9%
    GUARANTEED RATE, INC. $690,000 $1,270,000 84.1% 1.9%
    PENNYMAC LOAN SERVICES, LLC $665,000 $1,245,000 87.2% 1.9%
    American State Bank $335,000 $725,000 116.4% 1.1%
    First Interstate Bank $2,605,000 $715,000 -72.6% 1.1%
    Security National Bank of South Dakota $700,000 n/a 1.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $630,000 $595,000 -5.6% 0.9%
    VERIDIAN CREDIT UNION $205,000 $475,000 131.7% 0.7%
    Wells Fargo Bank $2,245,000 $465,000 -79.3% 0.7%
    FREEDOM MORTGAGE CORPORATION $465,000 $415,000 -10.8% 0.6%
    Primebank $75,000 $405,000 440.0% 0.6%
    Gateway First Bank $365,000 n/a 0.5%
    U.S. Bank $970,000 $365,000 -62.4% 0.5%
    First Bank & Trust $545,000 $345,000 -36.7% 0.5%
    NEWREZ LLC $145,000 $345,000 137.9% 0.5%
    POLARIS HOME FUNDING CORP. $345,000 n/a 0.5%
    West Gate Bank $945,000 $345,000 -63.5% 0.5%
    AMERISAVE MORTGAGE CORPORATION $795,000 $320,000 -59.7% 0.5%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $315,000 n/a 0.5%
    TRIAD FINANCIAL SERVICES, INC. $265,000 $290,000 9.4% 0.4%
    BANKWEST, INC. $375,000 $280,000 -25.3% 0.4%
    Dacotah Bank $105,000 $275,000 161.9% 0.4%
    CHURCHILL MORTGAGE CORPORATION $235,000 n/a 0.4%
    UNITED WHOLESALE MORTGAGE, LLC $235,000 n/a 0.4%
    NEW DAY FINANCIAL, LLC $165,000 $205,000 24.2% 0.3%
    Northwest Bank $140,000 $195,000 39.3% 0.3%
    BAY EQUITY LLC $165,000 n/a 0.2%
    BMO Harris Bank $165,000 n/a 0.2%
    Centier Bank $165,000 n/a 0.2%
    PLANET HOME LENDING, LLC $165,000 n/a 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $155,000 n/a 0.2%
    First PREMIER Bank $1,275,000 $155,000 -87.8% 0.2%
    Discover Bank $110,000 $150,000 36.4% 0.2%
    First Savings Bank $135,000 n/a 0.2%
    Premier Bank $105,000 n/a 0.2%
    21ST MORTGAGE CORPORATION $95,000 $85,000 -10.5% 0.1%
    FirstBank of Nebraska $85,000 n/a 0.1%
    Figure Lending LLC $75,000 n/a 0.1%
    Coastal Community Bank $70,000 n/a 0.1%
    FOUR POINTS $65,000 n/a 0.1%
    QUORUM FEDERAL CREDIT UNION $55,000 n/a 0.1%
    Citizens Bank $35,000 n/a 0.1%

    Yankton's top lender by overall market share is First Dakota National Bank, with 29.0% market share. In second place, with 7.5%, is American Bank & Trust, having originated $5,030,000 in loans. In third place, with 5.5%, is First National Bank of Omaha, having originated $3,675,000 in loans. In fourth place, with 4.5%, is Minnwest Bank, having originated $3,005,000 in loans. In fifth place, with 4.4%, is QUICKEN LOANS, LLC, having originated $2,920,000 in loans.

    Yankton, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 193 $50,145,000 $259,819
    Cash Out Refi 36 $5,150,000 $143,056
    Refi 31 $9,125,000 $294,355
    Home Improvement 21 $1,205,000 $57,381
    Other 13 $1,425,000 $109,615

    Yankton's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 103 $26,275,000 $255,097
    7-8% 70 $13,450,000 $192,143
    5-6% 54 $14,610,000 $270,556
    Over 8% 39 $3,445,000 $88,333
    4-5% 3 $485,000 $161,667
    3-4% 2 $4,950,000 $2,475,000

    During 2023, Yankton's most frequently originated rate bucket was 6-7%, with 103 originations.

    Loan Sizing (Yankton, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 109 $29,815,000 $273,532
    $100k-200k 92 $14,040,000 $152,609
    $100,000 or less 72 $4,080,000 $56,667
    $400k-600k 14 $6,650,000 $475,000
    $600k-1000k 4 $2,980,000 $745,000
    $Over $1MM 3 $9,485,000 $3,161,667

    Yankton's loan sizing saw the bucket of loans from $200k-400k with 109 originations, totaling $29,815,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 119 $28,465,000 $239,202
    60-80% 67 $17,935,000 $267,687
    20-40% 34 $4,020,000 $118,235
    40-60% 27 $10,815,000 $400,556
    Under 20% 20 $880,000 $44,000
    Over 100% 3 $1,035,000 $345,000

    Yankton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 119 originations, totaling $28,465,000 in origination value.