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Saginaw, MI Mortgage Rates today

Michigan offers a diverse range of lifestyles, from bustling cities to serene lakeside towns. Its affordable housing market, top-rated universities, and outdoor recreation opportunities make it an attractive choice for homebuyers. To make the most of this opportunity, compare our current rates to find the perfect mortgage for your Michigan home.

If you have any questions about securing the best mortgage rates in Michigan, please contact us today. We are here to assist you in finding the mortgage rates that best suit your needs.

Compare today's mortgage rates for Saginaw, MI

The mortgage rates in Michigan are 6.875% for a 30-year fixed mortgage and 6.125% for a 15-year fixed mortgage. These rates are effective as of May 29 2024 12:30pm EST.

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6.125% RATE

6.901% APR

$3,062/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.875% RATE

7.351% APR

$2,365/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.250% RATE

7.310% APR

$2,405/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.500% RATE

7.740% APR

$2,275/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.250% RATE

6.876% APR

$2,244/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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Latest revision - May 29 2024 12:30pm EST.
We update the table twice every day with the current mortgage rates.

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Frequently Asked Questions

What is the average mortgage rate in Michigan?

 

Mortgage interest rates in Michigan shape homeowner finances in the Wolverine State, as these percentages influence total borrowing expenses. Rates fluctuate, directly impacting costs.

What are the current mortgage rates in Michigan?

 

We constantly check the current mortgage rates in Michigan, which allows for precise comparisons between options. Fixed and variable products offer differing advantages. Mortgage loans and refinancing carry distinct considerations. We update figures twice daily to guarantee current evaluations.

How are interest rates determined?

Lenders set curiosity rates for their loan offerings, tempered by factors such as the Federal Reserve's activities, economic cases, and client requirements. Modifications in short-term rates through the Federal Reserve will rouse lenders to remodel mortgage rates. Particular contemplations, together with credit score, down payment, earnings, and the alternating degrees of danger and operational fees for lenders, can also affect mortgage rates.

How frequently do mortgage rates change?

 

Mortgage rates fluctuate regularly and are troubled by factors such as swelling, the bind commercial, and the general real property market. Individual lenders judge curiosity rates supported by the running costs and desired returns; thus, rates may vary slightly across lenders. Client credit quality and the size of the down payment presented may additionally impact the individual rate supplied.

What is considered a good mortgage interest rate?

 

Undoubtedly, the most important aspect to consider is the mortgage rate, but one should recognize such attributes of the loan as annual percentage rates, fees, and closing costs. A rigorous comparison of the loan specifics from several lenders is required to spot the most advantageous deal that fits your situation.

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Today's Rates

Mortgage rates are volatile and subject to change without notice. All rates shown are for 30-day rate locks with two and a half points for a single family owner-occupied primary residence with 750 or higher FICO and 80 LTV over a 30-year loan term except where otherwise noted and are subject to mortgage approval with full documentation of income. The APR for a 30-year and 15-year conventional fixed-rate mortgage loans are calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, a $10 flood certification fee, and a $82 credit report fee.* 15-year conventional mortgage rates are calculated with a 15-year loan term.* The APR for jumbo mortgage rates is calculated using a loan amount of $500,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee.* The APR for FHA mortgage rates is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee. Some rates and fees may vary by state.* The APR for adjustable rate mortgages (ARMs) is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee and a $82 credit report fee. Some rates and fees may vary by state. Products are subject to availability on a state-by-state basis. By refinancing your existing loan, your total finance charge may be higher over the life of the loan.