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7/1 ARM Mortgage Rates in Michigan

Updated: December 18, 2017

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

3.921%

APR
7 Year ARM
3.375% Rate $884/mo
  • Updated December 18, 2017
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PRODUCTS RATES +/-
30 Year Fixed 4.09%
15 Year Fixed 3.31%
5/1 ARM 3.42%
Monday, December 18, 2017

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Mortgage rates for Michigan go up to 4.09%

Monday, December 18, 2017

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 4.09%. That increased from 4.05% to 4.09%. The 15-year fixed rates are now at 3.31%. The 5/1 ARM mortgage for Michigan is now at 3.42%.

7/1 ARM Mortgage Rate Explained

7/1 ARM is an adjustable rate mortgage where the interest rate on the loan remains constant for the first 7 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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