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5/1 ARM Mortgage Rates in Michigan

Updated: June 16, 2019

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

4.716%

APR
5 Year ARM
3.375% Rate $884/mo
  • Updated June 16, 2019
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PRODUCTS RATES +/-
30 Year Fixed 4.31%
15 Year Fixed 3.50%
5/1 ARM 4.17%
Sunday, June 16, 2019

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Mortgage rates for Michigan go down to 4.31%

Sunday, June 16, 2019

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 4.31%. That dropped from 4.31% to 4.31%. The 15-year fixed rates are now at 3.50%. The 5/1 ARM mortgage for Michigan is now at 4.17%.

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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