Current Mortgage Rates in Detroit, Michigan

Monday, October 06, 2008



Current Mortgage Rates*

Loan Type
Detroit Average
30-yr. fixed6.00%
15-yr. fixed5.62%
5/1 ARM6.38%
3/1 ARM6.00%
FHA Mortgage6.25%
Fixed Rate Mortgage7.12%
VA Mortgage6.25%
*Mortgage Rates Updated: 10/04/2008

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Current Mortgage Rates in Detroit, Michigan

Detroit 30-yr. fixed Mortgage Rates Detroit 30-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.62%6.68%0.00Citibank7.75%7.79%0.12
Bank of America6.38%6.50%0.92Bank of America7.12%7.26%1.17
Wells Fargo6.62%6.68%0.25Wells Fargo7.25%7.29%0.12
Chase6.50%6.59%0.25Chase7.12%7.16%0.12
Fifth Third Bank6.41%6.48%0.36Fifth Third Bank7.38%7.40%0.00
Detroit 15-yr. fixed Mortgage Rates Detroit 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.25%6.37%0.25Bank of America7.62%7.82%1.00
Bank of America6.12%6.32%0.90Wells Fargo7.12%7.17%0.12
Wells Fargo6.25%6.35%0.25Chase7.00%7.05%0.12
Chase6.38%6.47%0.12Fifth Third Bank7.50%7.54%0.00
Fifth Third Bank5.87%5.98%0.38 
Detroit 7/1 ARM Mortgage Rates Detroit 7/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.88%7.10%0.12Citibank7.12%7.19%0.00
Chase6.62%6.98%0.12Chase6.75%7.02%0.12
Fifth Third Bank6.50%6.55%0.00Fifth Third Bank7.38%7.40%0.00
Detroit 5/1 ARM Mortgage Rates Detroit 5/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.75%7.08%0.00Citibank7.25%7.25%0.00
Bank of America6.00%6.84%1.08Bank of America6.75%7.10%0.95
Wells Fargo6.50%6.78%0.12Wells Fargo7.75%7.09%0.12
Chase6.25%6.90%0.12Chase7.00%7.18%0.12
Fifth Third Bank6.21%5.98%0.28Fifth Third Bank7.38%7.40%0.00
Detroit 3/1 ARM Mortgage Rates Detroit 3/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.75%7.14%0.00Citibank7.75%7.39%0.00
Bank of America6.00%7.06%1.09Bank of America7.00%7.35%1.08
Wells Fargo7.50%6.97%0.12Wells Fargo8.25%7.08%0.25
Chase6.88%7.33%0.00Chase7.12%7.38%0.25
Fifth Third Bank5.78%5.81%0.25Fifth Third Bank7.38%7.40%0.00
Detroit 1-yr. ARM Mortgage Rates Detroit 1-yr. ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Fifth Third Bank6.50%6.55%0.00Fifth Third Bank7.38%7.40%0.00

Bank of The Commonwealth, 719 Griswold Street, Detroit Michigan 48226
Bank One, Michigan, 611 Woodward Avenue, Detroit Michigan 48226
Comerica Bank, One Detroit Center, Detroit Michigan 48226
Comerica Bank & Trust, 100 Renaissance Center, Detroit Michigan 48226
Detroit Commerce Bank, Penobscot Building, 645 Griswold Street, Suite 70, Detroit Michigan 48226
Detroit Savings Bank, 511 Woodward Avenue, Detroit Michigan 48226
First Federal of Michigan, 1001 Woodward Ave, Detroit Michigan 48226
First Independence National Bank of Detroit, 44 Michigan Avenue, Detroit Michigan 48226
First of America Bank-southeast Michigan, Penobscott Building, 645 Griswold Street, Detroit Michigan 48226
Home Federal Savings Bank, 9108 Woodward Ave, Detroit Michigan 48202
Manufacturers Bank, 100 Renaissance Center, Detroit Michigan 48243
Michigan National Bank of Detroit, 22595 West Eight Mile Road, Detroit Michigan 48219
Peoples Federal Savings and Loan Association of Detroit, 400 Renaissance Center Suite 2323, Detroit Michigan 48243

Amez United, 11359 Dexter Avenue, Detroit MI 48206 (313) 933-1818
Bethel Baptist Church East, 5715-33 Holcomb, Detroit MI 48213 (313) 923-1644
Communicating Arts, P.O. Box 32584, Detroit MI 48232-0584 (313) 965-8640
Craftsman, 2444 Clark Street, Detroit MI 48209 (313) 554-9300
Detroit Edison, 660 Plaza # 2155, Detroit MI 48226 (313) 962-2727
Detroit Municipal, 1480 E. Jefferson Avenue, Detroit MI 48207 (313) 568-5000
E.W. Daniel Episcopal, 3837 West Seven Mile Rd, Detroit MI 48221 (313) 341-5320
Electrical Workers Local 58, 1366 Porter, Detroit MI 48226 (313) 963-6060
Fannie B. Peck of Bethel Ame Church, 5050 St Antoine, Detroit MI 48202 (313) 831-8810
First Financial, 3151 Gratiot, Detroit MI 48207 (313) 579-2400
Greater Christ Baptist Church, P. O. Box 7303, Detroit MI 48207 (313) 925-1359
Greater New MT. Moriah Baptist Chrh, 586 Owen Street, Detroit MI 48235 (313) 235-8033
Health One, 600 Lafayette East, Detroit MI 48226 (313) 225-9755
I.M. Detroit District, 2101 Gratiot Avenue, Detroit MI 48207 (313) 259-5817
International Uaw, 8000 E Jefferson Ave, Detroit MI 48214 (313) 926-5281
Metropolitan Church of God, 13400 Schaefer Highway, Detroit MI 48227 (313) 837-5642
Michigan First, 7700 Puritan Avenue, Detroit MI 48238 (313) 345-7200
New Rising Star, 10605 Mack AVE. , Detroit MI 48207 (313) 822-3970
Postal & Federal Family Credit Union of Metr, 1351 E. Jefferson, Detroit MI 48207 (313) 259-5700
Teamsters, 2825 Trumbull, Detroit MI 48216 (313) 962-4666

Mortgage Statistics for Detroit, Michigan

  Detroit Michigan USA
Population:
Population - The population of Detroit, MI
 892,541 9,937,974 284,881,454
White Population:
White Population - The number of white people living in where you might apply for a Detroit mortgage.
 105,317 7,965,607 210,951,199
Black Population:
Black Population - The number of black people living in where you might apply for a Detroit mortgage.
 733,219 1,412,742 33,966,477
Hispanic Population:
Hispanic Population - The number of hispanic people living in where you might apply for a Detroit mortgage.
 46,330 323,872 34,671,551
HouseHolds:
HouseHolds - The total number of households in Detroit, MI, where you might buy a home.
 352,240 4,232,228 117,153,924
Person per Household:
Person per Household - The average number of people in a household in Detroit, where you might apply for a Detroit mortgage.
 2 2 2
Average House Value:
Average House Value - The average house value in Detroit, MI
 $60,717 $114,739 $132,188
Income per Household:
Income per Household - The household income where you might compare Detroit mortgage interest rates.
 $29,930 $45,731 $43,800

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