What are current mortgage rates in Michigan?

As of December 2026, Michigan mortgage rates average 6.73% for 30-year fixed. Compare quotes from multiple Michigan lenders.

What is the median home price in Michigan?

Michigan median home price is approximately $280,000. Detroit: $200K, Grand Rapids: $320K, Ann Arbor: $380K.

What are Michigan property taxes?

Michigan property taxes average 1.54% of home value. On a $280K home, expect ~$4,312/year.

State Guide

Michigan Mortgage Rates 2026

Q: What first-time buyer programs are available?

Michigan offers MSHDA First-Time Homebuyer Program, down payment assistance up to 5%, and various county programs.

Q: Is Michigan affordable for first-time buyers?

Yes. Michigan offers affordable home prices and strong first-time buyer programs, especially outside major cities.

David Rodriguez

Refinance & Rate Specialist

November 3, 202510 min readExpert

Mortgage RefinancingRate AnalysisMarket Trends

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🌊 Michigan

Mortgage Rates & Home Loans 2025

Michigan offers affordable home prices and strong first-time buyer programs. This guide reveals current mortgage rates and strategies to get the best deal.