Table of Contents
Current Michigan Mortgage Rates
The average mortgage rates in Michigan for September 24, 2023 are 6.983% for purchasing a home and 7.093% for refinancing a home.
|Mortgage Type||Rate (%)|
|30 Year Fixed Purchase||6.983|
|30 Year Fixed Refinance||7.093|
30-Day Rate Trend in Michigan
Michigan Purchase RatesUnable to fetch rates at the moment. Please try again later.
Michigan Refinance RatesUnable to fetch rates at the moment. Please try again later.
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Most Common Mortgage Types in Michigan
- Conventional: 95,672 loans
- FHA: 17,778 loans
- USDA: 1,734 loans
- VA: 5,845 loans
» MORE: See today’s refinance rates
Top Purchase Lenders in Michigan by Volume
- Rocket Mortgage, LLC: 9,619 loans
- Lake Michigan Credit Union: 6,998 loans
- Mortgage 1 Incorporated: 4,260 loans
- Flagstar Bank, Fsb: 3,299 loans
- The Huntington National Bank: 3,269 loans
- JPMorgan Chase Bank: 2,239 loans
- Caliber Home Loans, Inc.: 2,198 loans
- Independent Bank: 2,108 loans
- Triad Financial Services, Inc.: 2,096 loans
- Crosscountry Mortgage, LLC: 2,020 loans
Top Refinance Lenders in Michigan by Volume
- Fifth Third Bank: 3,771 loans
- Rocket Mortgage, LLC: 2,368 loans
- Lake Michigan Credit Union: 1,587 loans
- The Huntington National Bank: 1,559 loans
- PNC Bank: 1,555 loans
- Citizens Bank: 1,210 loans
- Consumers Credit Union: 982 loans
- JPMorgan Chase Bank: 851 loans
- Flagstar Bank, Fsb: 760 loans
- Comerica Bank: 610 loans
Top purchase and refinance lenders and usage statics are for retail (direct to consumer) lenders and made available through lender reporting from the 2022 Home Mortgage Disclosure Act (HMDA).
Michigan mortgage rate data in the charts and tables above comes from RateUpdate.com. The displayed rates come from multiple providers and represent market averages. Your mortgage rate will differ based on individual factors like your credit score as well as differing loan types and terms offered by lenders.