Michigan mortgage rates November 12, 2026: where credits flatten
On November 12, 2026 at 12:05 PM ET, RateVerdict priced a $400,000 30-year fixed Michigan refinance with 780+ credit and the rate closest to $0 at closing was 6.750% (6.780% APR, $280 in points), while the 8 rates above it came with lender credits from $1,628 to $12,384 (source: RateVerdict Michigan rate table).
The short answer for November 12, 2026
RateVerdict priced one Michigan loan at 12:05 PM ET on Thursday, November 12, 2026: a $400,000 30-year fixed refinance with a credit score of 780 or higher, priced against dozens of lenders (source: RateVerdict Michigan rate table, as of November 12, 2026, 12:05 PM ET).
The rate closest to $0 at closing was 6.750%, with a 6.780% APR and $280 in points. The top of the table was 6.375%, with a 6.601% APR and $8,312 in points (same source and time).
The credit side of the Michigan table
A lender credit is money the lender puts toward your closing costs in exchange for a higher rate. On the Michigan table, every rate above the one closest to $0 came with a credit.
On Thursday there were 8 credit rows, from 6.875% (6.899% APR, $1,628 in lender credit) to 8.000% (8.051% APR, $12,384 in lender credit) (source: RateVerdict Michigan rate table, as of November 12, 2026, 12:05 PM ET).
Where the extra credit got small
Through the middle of the table, each step up in rate added a sizable credit. Going from 7.250% to 7.500%, the credit grew from $6,996 to $10,184.
The last step was different. The table skips from 7.625% to 8.000%, a jump of 0.375% in rate, and the credit grew only from $11,728 to $12,384, or $656 more. Its APR was 8.051%, against 7.649% (same source and time).
If you are weighing a higher rate for more credit, look at what each step actually adds in dollars before you take on the higher rate for the life of the loan.
Also on the November 12 table
- The rate closest to $0 at closing was 6.750%. On the Michigan history page, the last weekday it was 6.750% before today was October 28, 2026, when it came with $848 in lender credit and a 6.845% APR (source: RateVerdict Michigan rate history, 12:05 PM ET snapshots).
- On November 11, the rate closest to $0 was 6.625% (6.696% APR, $56 in points) (same source).
- At 7.250% on Thursday, lenders priced the same loan as much as $6,492 apart. The table shows one price per rate, which for 7.250% was $6,996 in lender credit with a 7.274% APR (source: RateVerdict Michigan rate table, as of November 12, 2026, 12:05 PM ET).
Thursday's full Michigan table
Below is every rate RateVerdict kept for the Thursday sample loan, each with its APR and its cost or credit at closing.
Today's Michigan table shows every rate with its APR and its cost or credit in dollars, no sign-up needed.
See today's Michigan rates| Rate | APR | Points | Cost or credit at closing |
|---|---|---|---|
| 6.375% | 6.601% | 2.078 | $8,312 cost |
| 6.500% | 6.674% | 1.490 | $5,960 cost |
| 6.625% | 6.690% | 0.375 | $1,500 cost |
| 6.750% | 6.780% | 0.070 | $280 cost |
| 6.875% | 6.899% | -0.407 | $1,628 credit |
| 7.000% | 7.024% | -0.893 | $3,572 credit |
| 7.125% | 7.149% | -1.295 | $5,180 credit |
| 7.250% | 7.274% | -1.749 | $6,996 credit |
| 7.375% | 7.399% | -2.178 | $8,712 credit |
| 7.500% | 7.524% | -2.546 | $10,184 credit |
| 7.625% | 7.649% | -2.932 | $11,728 credit |
| 8.000% | 8.051% | -3.096 | $12,384 credit |
A Michigan rule worth knowing
Refinancing is not a transfer of ownership, so it does not uncap a Michigan home's taxable value for property tax. (source: MCL 211.27a(7)(j)).
See today's rate for your scenario
This post is one sample loan on one day. The Michigan rate table on this site shows the current weekday table, and the Michigan rate history page keeps past weekday snapshots. To compare states, see mortgage rates by state. To price your own balance, home value and credit range, use the rate tool on this site, with every rate shown beside its APR.
Common questions
What was the 30-year fixed refinance rate closest to $0 at closing in Michigan on November 12, 2026?
It was 6.750% with a 6.780% APR and $280 in points for the $400,000 Michigan sample refinance with 780+ credit (source: RateVerdict Michigan rate table, November 12, 2026, 12:05 PM ET).
How much lender credit came with the highest rate on the Michigan table on November 12, 2026?
8.000% (8.051% APR) came with $12,384 in lender credit, only $656 more than 7.625% (source: RateVerdict Michigan rate table, November 12, 2026, 12:05 PM ET).
What is a lender credit?
It is money a lender puts toward your closing costs in exchange for a higher interest rate. On the RateVerdict table it shows as negative points and a dollar credit at closing.
When was 6.750% last the Michigan rate closest to $0 before November 12, 2026?
October 28, 2026, when it came with $848 in lender credit and a 6.845% APR (source: RateVerdict Michigan rate history, 12:05 PM ET snapshot).
Does refinancing uncap my Michigan property taxes?
No. Michigan law treats a refinance as not a transfer of ownership, so it does not uncap a home's taxable value (source: MCL 211.27a(7)(j)).
Can I use more lender credit than my closing costs?
Usually a lender credit can only go toward closing costs and prepaid items on that loan. Ask your lender how any credit above your costs is handled before you choose a rate for the credit.
See today's Michigan rates
Today's Michigan table shows every rate with its APR and its cost or credit in dollars, no sign-up needed.
Sources
- RateVerdict, Michigan mortgage rates today (weekday midday snapshot)as of November 12, 2026, 12:05 PM ET
- RateVerdict, Michigan mortgage rate historyas of October 28, November 11 and November 12, 2026, 12:05 PM ET snapshots
- RateVerdict, mortgage rates by stateas of November 12, 2026
- RateVerdict, rate tool for your own loanas of November 12, 2026
- MCL 211.27a(7)(j)as of checked October 2026
This article is educational and is not an offer to lend, a rate lock, or a commitment to lend. Rates and terms depend on a complete application and are subject to credit approval, underwriting, and program guidelines. Any figure shown comes from our pricing engines or a cited source with its as-of date. See how we get our numbers on the methodology page.
F5 Mortgage LLC · NMLS #1938115 · Equal Housing Opportunity