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3/1 ARM Mortgage Rates in Michigan

Updated: June 01, 2020

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

PRODUCTS RATES +/-
30 Year Fixed 3.15%
15 Year Fixed 2.56%
5/1 ARM 4.56%
Monday, June 01, 2020

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Mortgage rates for Michigan go down to 3.15%

Monday, June 1, 2020

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 3.15%. That dropped from 3.15% to 3.15%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Michigan is now at 4.56%.

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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