Michigan mortgage rates as of November 4
Priced for a $400,000 30-year fixed refinance with 780+ credit.
This is the most recent weekday pricing. A new table is posted each weekday at midday Eastern.
Priced from live lender rate sheets. Not a rate lock or an offer to lend.
Every rate we priced for Michigan
One row per rate, each at the price you are quoted: one price per rate, chosen from the lenders we priced. This table was priced against dozens of lenders.
| Rate | APR | Points | Cost or credit at closing | Monthly principal and interest |
|---|---|---|---|---|
| 6.125% | 6.382% | 2.005 | $8,020 cost | $2,430 |
| 6.250% | 6.466% | 1.516 | $6,064 cost | $2,463 |
| 6.375% | 6.527% | 0.793 | $3,172 cost | $2,495 |
| 6.500% | 6.604% | 0.250 | $1,000 cost | $2,528 |
| 6.625% | 6.708% | -0.304 | $1,216 credit | $2,561 |
| 6.750% | 6.836% | -0.739 | $2,956 credit | $2,594 |
| 6.875% | 6.964% | -1.311 | $5,244 credit | $2,628 |
| 7.000% | 7.090% | -1.748 | $6,992 credit | $2,661 |
| 7.125% | 7.216% | -2.171 | $8,684 credit | $2,695 |
| 7.375% | 7.469% | -2.658 | $10,632 credit | $2,763 |
| 7.500% | 7.586% | -3.086 | $12,344 credit | $2,794 |
| 7.625% | 7.723% | -3.480 | $13,920 credit | $2,831 |
Monthly payments shown are principal and interest only, for 360 monthly payments on a $400,000 loan at the rate shown. They do not include taxes, homeowners insurance or mortgage insurance, so the actual monthly payment will be greater.
What the table says, as of November 4
Top of the table
6.125%6.382% APR with $8,020 in points. About $2,430 a month in principal and interest.
Closest to $0 at closing
6.500%6.604% APR with $1,000 in points. About $2,528 a month in principal and interest.
Widest gap between lenders
Same rate. $7,160 apart.At 7.000%, lenders priced the same loan as much as $7,160 apart.
Priced for a $400,000 30-year fixed refinance with 780+ credit. Monthly payments shown are principal and interest only, for 360 monthly payments on a $400,000 loan at the rate shown. They do not include taxes, homeowners insurance or mortgage insurance, so the actual monthly payment will be greater.
Michigan rules worth knowing
- Michigan's state real estate transfer tax does not apply to a mortgage or to its assignment or discharge, so a refinance mortgage pays no state transfer tax. Source: MCL 207.526(d).
- 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).
What moves a Michigan mortgage rate
- Credit score band. Lenders price in bands, so a higher band prices lower at the same loan.
- Loan to value. The more equity or down payment, the lower the price of risk. The table shows the home value it assumes.
- Points or a lender credit. You can pay points at closing to buy a lower rate, or take a lender credit toward closing costs at a higher rate. Compare rates by their cost in dollars, not the rate alone.
- Loan size. The same rate costs a different number of dollars on a different loan amount.
- How the home is used. A primary home, a second home and an investment property are priced differently.
- Program and term. A 30-year loan, a 15-year loan, FHA and VA each have their own price sheet.
This page does not predict where rates are going. It shows what lenders priced on the date above.
Michigan mortgage rate questions
What is the latest 30-year fixed refinance rate in Michigan?
On Wednesday, November 4, 2026 at 12:05 PM ET we priced a $400,000 30-year fixed refinance with 780+ credit in Michigan. The table started at 6.125% (6.382% APR), which came with $8,020 in points at closing and about $2,430 a month in principal and interest. The rate closest to $0 at closing was 6.500% (6.604% APR) with $1,000 in points. A rate means little without its cost in dollars, so read both together. Monthly payments shown are principal and interest only, for 360 monthly payments on a $400,000 loan at the rate shown. They do not include taxes, homeowners insurance or mortgage insurance, so the actual monthly payment will be greater.
How much do points cost?
One point is 1% of the loan amount, paid at closing to buy a lower rate. On a $400,000 loan, one point is $4,000. On November 4 the first rate on the table came with $8,020 in points. A lender credit works the other way: the lender pays toward your closing costs in exchange for a higher rate.
Why do two lenders charge different amounts for the same rate?
Each lender sets its own price for every rate. This table was priced against dozens of lenders. On November 4, lenders priced the same 7.000% loan as much as $7,160 apart. Each row shows one price per rate, chosen from the lenders we priced, so you do not have to price every lender yourself.
What affects a mortgage rate in Michigan?
The biggest factors are the credit score band, the loan to value ratio, whether you pay points or take a lender credit, the loan amount, and how the home is used (primary home, second home or investment). The program and the loan term matter too. The table uses Michigan as the property state and the scenario named above it.
Is the rate in this table the rate I will get?
Only if your loan matches the scenario named above the table. The table is priced for one specific loan, and your own rate depends on your credit, your home value and your loan amount. Nothing on this page is a rate lock or an offer to lend; the rate tool prices your own numbers without asking for your name, phone number or email.
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