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Current Mortgage Rates in Michigan

Time Range: 6m 1y 2y 5y More mortgage rates?

30-Year Fixed
15-Year Fixed
5/1 ARM

Mortgage Rates for Oct. 17 - 24 , 2014*

Product Interest Rate Points National Average
30 Year Fixed Rate Mortgage 4.05% 0.06 4.03%
15 Year Fixed Rate Mortgage 3.30% 0.05 3.29%
30 Year 5/1 ARM 3.09% 0.03 3.02%
*weekly rolling averages

4/14 5/14 6/14 7/14 8/14 9/14 10/14
30-Year Fixed 4.48 4.37 4.28 4.26 4.28 4.27 4.19
15-Year Fixed 3.63 3.53 3.49 3.51 3.54 3.56 3.49
5/1 ARM 3.29 3.28 3.31 3.31 3.31 3.40 3.33

Current Mortgage Rates in Michigan

 

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Mortgages from 2.75% (2.96% APR)
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Mortgage Trends in Michigan

Popular Property Types
 

Single-Family Homes

90.6%
*Single-Family Homes make up 90.6% of purchased or refinanced homes
 

Condominiums

8.8%
*Condominiums make up 8.8% of purchased or refinanced homes
 

PUD Homes

0.4%
*PUD or Planned Unit Development homes make up 0.4% of purchased or refinanced homes
 

Townhomes

0.2%
*Townhomes make up 0.2% of purchased or refinanced homes

Average Property Value

Average Annual Property Taxes

Average Mortgage Balance

Data source: CoreLogic

Popular Mortgage and Refinance Types

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Type of Loan
Mortgage Refinance
Home Equity Loan or Line
Debt Consolidation
New Home Loan
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Credit rating: (Estimates okay)