Michigan Mortgage Rates
We've compiled mortgage rate and origination data from Michigan to give you an idea of where other borrowers are at. This data is based fixed rate, conforming loan data from Fannie Mae and Freddie Mac.
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Michigan Mortgage Statistics
Average Loan Size
$238,992
Loan to Value
5%
77%
99%
Credit Score
537
754
832
Originations by Loan Term / Average Rates
90.7%
30 Year Fixed
4.250%
6.88%
9.180%
low
average
high
5.3%
15 Year Fixed
3.990%
6.18%
8.000%
low
average
high
4.0%
20 Year Fixed
4.750%
6.52%
8.625%
low
average
high
Top 5 Originators in Michigan
1.1%
Nationstar Mortgage
0.6%
US Bank
0.5%
Freedom Mortgage
0.4%
Pennymac Home Loans
97.3%
Other
Originations by Property Type
77.6%
Single Family
15.4%
Condo
5.1%
Planned Unit Development
1.7%
Manufactured Home
0.2%
Co-op
Originations by Loan Purpose
76.1%
Purchase
15.6%
Cashout Refinance
8.3%
Refinance
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