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
$206,267
Loan to Value
6%
73%
97%
Credit Score
600
754
837
Originations by Loan Term / Average Rates
73.3 %
30 Year Fixed
1.990%
3.22%
6.375%
low
average
high
21.0 %
15 Year Fixed
1.750%
2.75%
5.500%
low
average
high
5.7 %
20 Year Fixed
1.990%
3.14%
5.750%
low
average
high
Top 5 Originators in Michigan
1.6 %
Quicken Loans
1.2 %
US Bank
1.1 %
Pennymac Home Loans
0.3 %
Finance of America Mortgage
96.0 %
Other
Originations by Property Type
80.3 %
Single Family
13.0 %
Condo
6.1 %
Planned Unit Development
0.7 %
Manufactured Home
Originations by Loan Purpose
48.9 %
Refinance
29.4 %
Purchase
21.7 %
Cashout Refinance
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