Michigan Mortgage Rates;
The Michigan Housing market is a bit sluggish and although
prices are falling, there are falling from record highs. Its
not all doom and gloom and there are several factors which
will counter this slow down. Unemployment is falling and the
stock market is on the rise. Mortgage rates are dropping and
are very competitive which makes it a great time to buy or
to refinance.
Buyers have a lot of homes to choose from and if you look
around there is a lot of value to be found. Sellers need to
be more realistic about their prices and with the lower mortgage
rates, refinancing is an attractive option. Below is an example
of the rates available.
For loan amounts up to $417,000
30 Yr Fixed : rates from 5.25% to 6.75%
15 Yr Fixed : rates from 4.875% to 6.35%
1 Yr ARM : rates from 4.125% to 6.75%
3/1 ARM : rates from 5.125% to 6.25%
5/1 ARM : rates from 5.375% to 6.5%
For loan amounts above to $417,000
30 Yr Fixed Jumbo : rates from 5.875% to 6.5%
15 Yr Fixed Jumbo : rates from 5.635% to 6.1245
1 Yr ARM Jumbo : rates from 4.125 to 6%
3/1 ARM Jumbo : rates from 5.125% to 6.875%
5/1 ARM Jumbo : rates from 5.5% to 6.625%
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Looking for a mortgage in one of Michigan's major cities?
Click any of the cities below for more mortgage information.
Major Michigan
Cities;
Ann Arbor
Bay City
Detroit
Flint
Grand Rapids
Marquette
Warren
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