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Michigan Conventional Mortgage Rates

Updated: December 03, 2020

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Displaying rates for Mortgage Refinance in MI for $200,000

PRODUCTS RATES +/-
30 Year Fixed 3.00%
15 Year Fixed 2.56%
5/1 ARM 4.56%
Thursday, December 03, 2020

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Mortgage rates for Michigan go down to 3.00%

Thursday, December 3, 2020

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Michigan is now at 4.56%.

 

Conventional Mortgage Rates & Loan Limits in Michigan

A conventional mortgage loan is a home loan that is not backed directly by the federal government such as the FHA and VA loans. However, conforming conventional mortgage loans follow the terms and conditions set by the government sponsored enterprises (GSEs): Freddie Mac and Fannie Mae. When buying a home in Michigan or refinancing your existing mortgage, a conventional mortgage should definitey be an option. Conventional mortgages  have low closing costs and flexible payment options. Check out our main page on Conventional Home Mortgage Rates.

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