Current Mortgage Rates in Michigan

Friday, July 04, 2008



Current Mortgage Rates*

Loan Type
Michigan Average
30-yr. fixed6.38%
30-yr. fixed jumbo6.75%
15-yr. fixed6.00%
15-yr. fixed jumbo6.50%
7/1 ARM6.00%
7/1 ARM jumbo6.38%
5/1 ARM5.88%
5/1 ARM jumbo6.50%
3/1 ARM5.75%
3/1 ARM jumbo6.25%
1-yr. ARM5.62%
1-yr. ARM jumbo5.75%
1-yr. LIBOR ARM5.50%
*Mortgage Rates Updated: 07/03/2008

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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
Citibank7.19%7.52%2.33Citibank7.38%7.47%0.19
Bank of America6.62%6.77%0.95Bank of America7.06%7.18%0.62
Wachovia6.25%6.37%0.68Wells 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 Bank7.07%7.10%0.09
Fifth Third Bank6.41%6.47%0.26 
Michigan 15-yr. fixed Mortgage Rates Michigan 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.92%7.70%4.02Citibank6.75%6.89%0.00
Bank of America6.14%6.39%0.97Bank of America7.44%7.60%0.50
Wachovia5.75%5.99%0.75Wells Fargo7.49%7.63%0.48
Wells Fargo6.20%6.33%0.30Chase6.75%6.82%0.06
Chase6.38%6.47%0.12Fifth Third Bank6.44%6.48%0.00
Fifth Third Bank5.93%6.04%0.31 
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
Wachovia5.40%5.49%0.89Wells 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 Bank7.12%7.14%0.00
Fifth Third Bank6.43%6.48%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 America6.25%5.97%0.98Bank 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 Bank6.12%5.97%0.26Fifth Third Bank6.58%6.41%0.06
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
Wachovia5.40%5.47%0.44Wells 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%6.30%0.00
Fifth Third Bank5.70%5.81%0.25 
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 Bank6.52%6.28%0.05
Fifth Third Bank6.05%5.90%0.00 

Current Mortgage Rates by City

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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