Current Mortgage Rates in Michigan

Thursday, August 21, 2008



Current Mortgage Rates*

Loan Type
Michigan Average
30-yr. fixed6.62%
30-yr. fixed jumbo7.25%
15-yr. fixed6.00%
15-yr. fixed jumbo6.75%
7/1 ARM6.25%
7/1 ARM jumbo6.50%
5/1 ARM6.00%
5/1 ARM jumbo6.25%
3/1 ARM5.75%
3/1 ARM jumbo6.12%
1-yr. ARM6.00%
1-yr. ARM jumbo6.50%
1-yr. LIBOR ARM5.50%
*Mortgage Rates Updated: 08/20/2008

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Current Mortgage Rates in Michigan

Michigan 30-yr. fixed Mortgage Rates Michigan 30-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank7.20%7.57%2.48Citibank7.38%7.47%0.19
Bank of America6.80%6.94%0.73Bank of America7.06%7.18%0.62
Wachovia6.31%6.44%0.77Wells Fargo7.19%7.24%0.12
Wells Fargo6.69%6.83%0.25Chase7.00%7.05%0.19
Chase6.62%6.71%0.25Fifth Third Bank7.17%7.20%0.04
Fifth Third Bank6.52%6.58%0.26 
Michigan 15-yr. fixed Mortgage Rates Michigan 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank7.18%8.21%5.53Citibank6.75%6.89%0.00
Bank of America6.25%6.49%0.82Bank of America7.44%7.60%0.50
Wachovia5.76%6.03%0.88Wells Fargo7.79%7.92%0.43
Wells Fargo6.22%6.35%0.31Chase6.75%6.82%0.06
Chase6.38%6.47%0.12Fifth Third Bank6.47%6.50%0.00
Fifth Third Bank5.98%6.09%0.30 
Michigan 7/1 ARM Mortgage Rates Michigan 7/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.69%7.15%0.19Citibank7.06%7.32%0.00
Bank of America6.62%7.29%0.03Bank of America6.88%7.36%0.48
Wachovia5.69%5.75%0.64Wells Fargo6.62%7.22%0.38
Wells Fargo6.50%7.27%0.25Chase6.69%7.08%0.12
Chase6.62%7.04%0.06Fifth Third Bank7.19%7.21%0.00
Fifth Third Bank6.57%6.61%0.00 
Michigan 5/1 ARM Mortgage Rates Michigan 5/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.56%7.18%0.06Citibank7.06%7.36%0.00
Bank of America6.64%6.13%0.82Bank of America8.07%6.65%1.05
Wells Fargo6.44%7.03%0.25Wells Fargo7.06%7.16%0.19
Chase6.38%7.04%0.06Chase6.88%7.25%0.06
Fifth Third Bank6.22%5.94%0.25Fifth Third Bank6.73%6.36%0.02
Michigan 3/1 ARM Mortgage Rates Michigan 3/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.69%7.33%0.00Citibank7.38%7.50%0.00
Bank of America6.25%7.30%0.63Bank of America6.94%7.48%0.58
Wachovia5.50%5.58%0.47Wells Fargo7.50%7.30%0.19
Wells Fargo6.94%7.20%0.12Chase6.94%7.40%0.12
Chase6.81%7.35%0.00Fifth Third Bank6.67%6.27%0.00
Fifth Third Bank5.81%5.77%0.22 
Michigan 1-yr. ARM Mortgage Rates Michigan 1-yr. ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.75%7.76%0.00Citibank7.00%7.90%0.00
Bank of America6.88%7.66%0.04Wells Fargo7.25%7.74%0.12
Wells Fargo7.25%7.78%0.12Chase7.12%7.62%0.00
Chase6.12%7.53%0.12Fifth Third Bank6.61%6.22%0.02
Fifth Third Bank6.17%5.90%0.00 

Current Mortgage Rates by City

Index: A->B   B->D   D->G   G->J   J->M   M->P   P->S   S->W   W->Z   
   

Mortgage Statistics for Michigan

  Michigan USA
Population:
Population - The population of Michigan
 9,937,974 284,881,454
White Population:
White Population - The number of white people living in where you might apply for a Michigan mortgage.
 7,965,607 210,951,199
Black Population:
Black Population - The number of black people living in where you might apply for a Michigan mortgage.
 1,412,742 33,966,477
Hispanic Population:
Hispanic Population - The number of hispanic people living in where you might apply for a Michigan mortgage.
 323,872 34,671,551
HouseHolds:
HouseHolds - The total number of households in Michigan, where you might buy a home.
 4,232,228 117,153,924
Person per Household:
Person per Household - The average number of people in a household in Michigan, where you might apply for a Michigan mortgage.
 2 2
Average House Value:
Average House Value - The average house value in Michigan
 $114,739 $132,188
Income per Household:
Income per Household - The household income where you might compare Michigan mortgage interest rates.
 $45,731 $43,800