Current Mortgage Rates in Michigan

Monday, October 06, 2008



Current Mortgage Rates*

Loan Type
Michigan Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.88%
15-yr. fixed5.88%
15-yr. fixed jumbo6.88%
7/1 ARM6.38%
7/1 ARM jumbo7.25%
5/1 ARM6.25%
5/1 ARM jumbo6.75%
3/1 ARM6.00%
3/1 ARM jumbo6.25%
1-yr. ARM6.00%
1-yr. ARM jumbo6.12%
1-yr. LIBOR ARM6.25%
*Mortgage Rates Updated: 10/06/2008

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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
Citibank7.02%7.32%1.94Citibank7.38%7.47%0.19
Bank of America6.62%6.77%0.81Bank of America7.30%7.55%1.80
Wachovia6.25%6.38%0.71Wells Fargo9.19%9.25%0.26
Wells Fargo6.44%6.52%0.24Chase7.72%7.77%0.15
Chase6.33%6.41%0.09Fifth Third Bank7.13%7.16%0.02
Fifth Third Bank6.42%6.49%0.26 
Michigan 15-yr. fixed Mortgage Rates Michigan 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank7.03%7.91%4.55Citibank6.75%6.89%0.00
Bank of America6.21%6.48%0.93Bank of America7.14%7.51%1.49
Wachovia5.74%5.99%0.82Wells Fargo7.97%8.09%0.41
Wells Fargo6.16%6.30%0.33Chase6.75%6.82%0.06
Chase6.32%6.45%0.07Fifth Third Bank6.40%6.44%0.00
Fifth Third Bank5.90%6.00%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 America6.48%6.40%0.98Bank of America6.88%7.36%0.48
Wachovia5.78%5.83%0.59Wells Fargo8.44%7.47%0.30
Wells Fargo7.34%6.87%0.18Chase6.69%7.08%0.12
Chase6.84%6.44%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 America6.46%6.15%0.88Bank of America8.07%6.65%1.05
Wells Fargo7.04%6.59%0.23Wells Fargo7.81%6.85%0.32
Chase6.80%6.30%0.03Chase7.74%6.69%0.01
Fifth Third Bank6.24%5.97%0.23Fifth Third Bank6.67%6.16%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 America6.01%6.16%0.94Bank of America6.94%7.48%0.58
Wachovia5.54%5.61%0.48Wells 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 Bank6.60%6.05%0.00
Fifth Third Bank5.85%5.81%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 Bank6.51%5.98%0.01
Fifth Third Bank6.13%5.73%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