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MARKET BENCHMARKS · HMDA PUBLIC DATA

South Dakota mortgage market benchmarks

South Dakota origination trends 2018–2025 from HMDA public data: volume, denial rates, and purchase vs refinance mix. Free and open — no account required.

Originations 2025

17,111

+7.7% vs 2024

2024: 15,894

Volume 2025

$4.82B

originated $
2024: $4.07B

Denial rate 2025

12.7%

denied / actioned
2024: 14.0% denied / actioned

Reporting lenders 2025

396

HMDA reporters
2024: 368 reporters

Origination volume by year

Dollar volume of originated loans

$ VOLUME · HOVER FOR UNITS
$0$2.5B$5B$7.5B$10B20182019202020212022202320242025$4.82B

Loan purpose mix

Share of 2025 originations

Denial rate by year

Denials / actioned applications (CFPB convention)

0.0%8.0%16.1%2018201920202021202220232024202512.7%

South Dakota market by year

YEARLENDERSAPPLICATIONSORIGINATIONSVOLUMEDENIALPURCHASEREFI
202539626,02317,111$4.82B2025 origination volume17,111 loans originated12.7%2025 denial rate26,023 applications actioned57.7%41.5%
202436824,12115,894$4.07B2024 origination volume15,894 loans originated14.0%2024 denial rate24,121 applications actioned60.0%35.1%
202338721,97414,883$3.84B2023 origination volume14,883 loans originated12.6%2023 denial rate21,974 applications actioned62.0%31.9%
202240930,84221,328$5.72B2022 origination volume21,328 loans originated10.7%2022 denial rate30,842 applications actioned56.9%42.2%
202141446,81833,016$7.97B2021 origination volume33,016 loans originated9.1%2021 denial rate46,818 applications actioned42.5%72.0%
202039254,71740,031$9.22B2020 origination volume40,031 loans originated8.4%2020 denial rate54,717 applications actioned33.6%80.6%
201936732,30722,575$4.61B2019 origination volume22,575 loans originated11.8%2019 denial rate32,307 applications actioned53.7%55.2%
201834327,09518,959$3.42B2018 origination volume18,959 loans originated13.5%2018 denial rate27,095 applications actioned62.9%40.9%

Attribution & methodology. Benchmarks are computed by MortRadar from Home Mortgage Disclosure Act (HMDA) public data files published by the Consumer Financial Protection Bureau (CFPB) and the Federal Financial Institutions Examination Council (FFIEC), covering activity years 2018–2025. Originations = loans originated (action taken 1); denial rate = denials / actioned applications (CFPB Data Browser convention); loan amounts are the public files' midpoint-rounded values. MortRadar's aggregations are derived works and are not published, reviewed, or endorsed by the CFPB, FFIEC, or any government agency. See data attribution and the disclaimer.

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