Our Michigan estimate for the 30-year fixed is 6.69% this week, down 0.02 points from last Thursday. The 15-year estimate is 5.89% and FHA sits at 6.35%.
Where rates sit
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.69% | 6.76% | -0.02 |
| 15-Year Fixed | 5.89% | 5.98% | -0.05 |
| FHA 30-Year | 6.35% | 7.12% | -0.02 |
| VA 30-Year | 6.25% | 6.44% | -0.02 |
Freddie Mac’s PMMS put the national 30-year at 6.67% and the 15-year at 5.96% for the week. Our Michigan figures are built on that benchmark, so they move with it by design. They are not a separate reading of what Michigan lenders quoted.
The Michigan angle
What the move means on a Ann Arbor home. On Ann Arbor’s $525,000 median with 10% down, a 30-year at 6.69% puts principal and interest at $3,046/month, about $6 less than at last week’s 6.71%. Property tax (Washtenaw County, ~1.8%) and insurance come on top; the Ann Arbor page has the full estimate.
Lock or float?
Locking versus floating comes down to your timeline: inside 45 days, the case for locking is stronger; past that, you’re betting on the next inflation print.
Rate data: Michigan estimates for the week ending August 13, built on Freddie Mac PMMS (6.67% 30-year, 5.96% 15-year).
These are benchmark figures, not lender quotes. Where they come from.