Michigan Mortgage Rate
Michigan Real Estate Market Reflects Stagnant Economy
A quick search of Michigan's newspapers and business blogs confirms that its economy is extremely troubled, following as it does the fortunes of Detroit's massive automotive industry. In October, Comerica Bank's Michigan Business Activity Index fell 2 points to its lowest level in over 14 years. However, the bright spot for those who have steady jobs is that Michigan is quite affordable--its wages are higher than the national average and its housing costs considerably lower, making homeownership more accessible.
Refinancing in Michigan
Mortgage companies in Michigan are offering the lowest rates in many years. And, unlike many areas in the country, Michigan didn't experience the crazy run-up of home prices and the subsequent crash.
Michigan: Good for Home Buyers
Michigan real estate offers a significant opportunity to those in a position to buy. Low but stable home prices, miniscule interest rates, new federal tax credits, more FHA opportunities, sellers under pressure, and a flock of bank-owned properties create unusual possibilities for investment in home ownership.
Before you buy a new house in Michigan or refinance your existing home to a lower rate, it is advisable to compare the current mortgage rates offered by leading lenders in Michigan. We've done extensive research to find top-rated lenders with competitive rates in Michigan and last updated these rates on . It is easy to compare the different interest rates and terms offered by local lenders in Michigan and you can contact any of the lenders by simply clicking on the "Go" button below the lender's logo.