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3/1 ARM Mortgage Rates in Michigan

Updated: August 23, 2017

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

PRODUCTS RATES +/-
30 Year Fixed 4.25%
15 Year Fixed 3.22%
5/1 ARM 3.21%
Wednesday, August 23, 2017

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Mortgage rates for Michigan go up to 4.25%

Wednesday, August 23, 2017

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 4.25%. That increased from 4.08% to 4.25%. The 15-year fixed rates are now at 3.22%. The 5/1 ARM mortgage for Michigan is now at 3.21%.

3/1 ARM Mortgage Rate Explained

3/1 ARM is an adjustable rate mortgage where the monthly payment (principal and interest) of the loan does not change during 3 years. After that the rate will change based on its "margin" and "index" . Above you will find 3/1 ARM refinance rates for national and local lenders in Michigan. 

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