Rates
Michigan mortgage rates today
Every Friday we update six loan types from national data on the rates borrowers actually locked (where it comes from). It is a yardstick for judging quotes, not a quote. Here is where it stands as of November 5, 2026.
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 7.12% | 7.19% | ▾ 0.03 pts |
| 15-Year Fixed | 6.57% | 6.66% | ▴ + 0.05 pts |
| FHA 30-Year | 6.90% | 7.67% | ▾ 0.14 pts |
| VA 30-Year | 6.76% | 6.95% | ▾ 0.03 pts |
| Jumbo 30-Year | 7.42% | 7.47% | ▴ + 0.26 pts |
| 30-Year Refinance | 7.25% | 7.32% | ▾ 0.03 pts |
Source: Optimal Blue national locked-rate indices via FRED (refinance modeled). National averages of locked rates, not lender quotes; where they come from.
How to read this table
The rate is the interest charged on your balance; the APR folds in lender fees and mortgage insurance, which is why FHA APRs sit so far above their rates. When the gap between rate and APR is wide, the loan is fee-heavy — a useful tell when two lenders quote the same headline number.
Quotes assume a single-family primary residence, 740+ credit, and 20% down. Put less down or carry a lower score and you'll price higher — run your own scenario in the payment calculator.
Rates by city
Property taxes and insurance vary far more across Michigan than rates do, so we track the full monthly cost picture city by city:
- Mortgage rates in Detroit
- Mortgage rates in Grand Rapids
- Mortgage rates in Lansing
- Mortgage rates in Ann Arbor
- Mortgage rates in Flint
- Mortgage rates in Kalamazoo
- Mortgage rates in Traverse City
- Mortgage rates in Warren
- Mortgage rates in Sterling Heights
- Mortgage rates in Dearborn
- Mortgage rates in Livonia
- Mortgage rates in Saginaw
Frequently asked questions
What are current mortgage rates in Michigan?
As of November 5, 2026, national locked-rate data puts the 30-year fixed at 7.12% (7.19% APR), the 15-year at 6.57%, and FHA 30-year loans at 6.90%. These are national averages across all borrowers, not lender quotes; yours will differ.
Are Michigan mortgage rates higher or lower than the national average?
Michigan typically runs within a few hundredths of the national average. What moves your rate more is competition: metro Detroit and Grand Rapids have dense broker markets where shopping three quotes routinely saves 0.25% or more.
Are mortgage rates going down in 2026?
Nobody can promise a direction, but the week-over-week change tells you the trend: our table above shows the week-over-week change for every product. For context and forecasts, we cover each Freddie Mac PMMS release in Market News.
How do I get the lowest mortgage rate in Michigan?
Three moves matter most: get your credit above 740, compare at least three lenders on the same day (rates expire daily), and ask each for a Loan Estimate so you compare APR — not just the teaser rate. A broker funded by UWM will often price differently than Rocket retail for the same borrower.