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5/1 ARM Mortgage Rates in Michigan

Updated: October 18, 2018

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

4.708%

APR
5 Year ARM
4.625% Rate $1,029/mo
  • Updated October 18, 2018
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4.915%

APR
5 Year ARM
4.875% Rate $1,059/mo
  • Updated October 18, 2018
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PRODUCTS RATES +/-
30 Year Fixed 5.17%
15 Year Fixed 3.99%
5/1 ARM 4.13%
Thursday, October 18, 2018

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Mortgage rates for Michigan go down to 5.17%

Thursday, October 18, 2018

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 5.17%. That dropped from 5.21% to 5.17%. The 15-year fixed rates are now at 3.99%. The 5/1 ARM mortgage for Michigan is now at 4.13%.

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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