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5/1 ARM Mortgage Rates in Michigan

Updated: August 20, 2017

Search Rates

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

2.825%

APR
5 Year ARM
2.750% Rate $817/mo
  • Updated August 20, 2017
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PRODUCTS RATES +/-
30 Year Fixed 3.96%
15 Year Fixed 3.18%
5/1 ARM 3.29%
Sunday, August 20, 2017

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Mortgage rates for Michigan go down to 3.96%

Sunday, August 20, 2017

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 3.96%. That dropped from 4.06% to 3.96%. The 15-year fixed rates are now at 3.18%. The 5/1 ARM mortgage for Michigan is now at 3.29%.

5/1 ARM Mortgage Rate Explained

5/1 ARM is an adjustable rate mortgage where the interest rate on the loan and hence the payment of the loan stays the same during the first 5 years. After that the rate will change based on its "margin" and "index" . Above you will find 5/1 ARM refinance rates for national and local lenders in Michigan. 

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