Current Mortgage Rates in Michigan

Monday, October 13, 2008



Current Mortgage Rates*

Loan Type
Michigan Average
30-yr. fixed6.25%
30-yr. fixed jumbo7.88%
15-yr. fixed5.88%
15-yr. fixed jumbo7.12%
7/1 ARM6.62%
7/1 ARM jumbo7.25%
5/1 ARM6.38%
5/1 ARM jumbo6.88%
3/1 ARM6.25%
3/1 ARM jumbo6.62%
1-yr. ARM6.50%
1-yr. ARM jumbo6.62%
1-yr. LIBOR ARM6.25%
*Mortgage Rates Updated: 10/13/2008

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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
Citibank7.00%7.29%1.87Citibank7.38%7.47%0.19
Bank of America6.61%6.75%0.82Bank of America7.31%7.57%1.82
Wachovia6.22%6.36%0.72Wells Fargo9.35%9.41%0.25
Wells Fargo6.43%6.50%0.23Chase7.73%7.79%0.17
Chase6.34%6.42%0.08Fifth Third Bank7.15%7.17%0.02
Fifth Third Bank6.40%6.46%0.26 
Michigan 15-yr. fixed Mortgage Rates Michigan 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.98%7.81%4.27Citibank6.75%6.89%0.00
Bank of America6.21%6.48%0.96Bank of America7.21%7.58%1.50
Wachovia5.73%5.99%0.83Wells Fargo8.03%8.15%0.40
Wells Fargo6.17%6.30%0.32Chase6.75%6.82%0.06
Chase6.35%6.47%0.07Fifth Third Bank6.43%6.46%0.00
Fifth Third Bank5.89%5.99%0.29 
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 America6.53%6.48%0.97Bank of America6.88%7.36%0.48
Wachovia5.85%5.90%0.55Wells Fargo8.58%7.57%0.26
Wells Fargo7.26%6.84%0.16Chase7.98%7.42%0.33
Chase6.83%6.47%0.05Fifth Third Bank7.14%7.16%0.00
Fifth Third Bank6.57%6.62%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 America6.45%6.20%0.89Bank of America8.07%6.65%1.05
Wells Fargo7.00%6.64%0.23Wells Fargo7.85%6.90%0.32
Chase6.73%6.32%0.04Chase7.69%6.70%0.00
Fifth Third Bank6.26%6.00%0.24Fifth Third Bank6.68%6.12%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 America6.04%6.24%0.93Bank of America6.94%7.48%0.58
Wachovia5.59%5.65%0.45Wells 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 Bank6.61%6.00%0.00
Fifth Third Bank5.89%5.86%0.21 
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 America7.42%6.20%1.53Wells 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 Bank6.50%5.92%0.01
Fifth Third Bank6.13%5.68%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