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1 Year ARM Mortgage Rates in Michigan

PRODUCTS RATES +/-
30 Year Fixed 3.00%
15 Year Fixed 2.56%
5/1 ARM 4.56%
Monday, June 27, 2022

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Mortgage rates for Michigan go down to 3.00%

Monday, June 27, 2022

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%.

1 Year ARM Mortgage Rate Explained

1 year ARM is an adjustable rate mortgage where the monthly payment (principal and interest) of the loan does not change during the first year. After that the rate will change based on its "margin" and "index" . Above you will find 1-year ARM refinance rates for national and local lenders in Michigan. 

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