Rates by city
Mortgage rates in Warren, Michigan
Warren is one of the last affordable direct suburbs of Detroit, built almost wall-to-wall with the sturdy 1950s and '60s brick ranches that make ideal first homes — and ideal FHA loans.
The Warren market
Macomb County's inventory of solid three-bed brick ranches under $250,000 keeps Warren a first-time-buyer stronghold, anchored by the GM Technical Center and a deep base of skilled-trades employment. Homes here appraise predictably and close quickly, though move-up buyers compete for the best-updated properties.
Neighborhoods buyers ask about: Warren Woods · South Warren · Center Line (adjacent) · Van Dyke corridor
What's different about buying here
Macomb County's mix of brick ranches under $250K makes Warren one of the last affordable direct-suburb markets in metro Detroit — and a first-time-buyer FHA stronghold.
Down payment help in Warren
Warren buyers lean heavily on FHA (3.5% down, 580 credit) paired with the MSHDA MI 10K DPA, a combination that can bring cash-to-close on a $200,000 ranch down to a few thousand dollars. Macomb County has no separate transfer-tax quirk beyond the standard state and county rates.
Today's Michigan rates
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.45% | 6.52% | ▾ 0.04 pts |
| 15-Year Fixed | 5.72% | 5.81% | ▾ 0.02 pts |
| FHA 30-Year | 6.12% | 6.89% | ▾ 0.05 pts |
| VA 30-Year | 6.02% | 6.21% | ▴ + 0.01 pts |
Source: Editorial survey of Michigan lenders; national benchmark: Freddie Mac PMMS. Averages for borrowers with 740+ credit and 20% down; your quote will differ.
Estimate your exact payment with Macomb County's tax rate in the mortgage payment calculator, and see whether you qualify for buyer assistance programs before assuming you need 20% down.
Frequently asked questions
Why is Warren popular with first-time buyers?
Affordable, uniform housing stock. Warren's abundant sub-$250,000 brick ranches fit FHA loan limits comfortably, appraise reliably, and pair well with MSHDA down payment assistance — so buyers can get in with minimal cash and predictable underwriting.
What is the monthly payment on a typical Warren home?
On Warren's median price of about $200 000 with 10% down at today's 6.45% average rate, expect roughly $1 532/month including Macomb County property taxes at ~1.5% and insurance.
Are mortgage rates different in Warren than the rest of Michigan?
The interest rate itself is the same statewide — what changes in Warren is everything around it: Macomb County's ~1.5% effective property tax, local insurance costs, and which down payment assistance programs apply.