Best Mortgage Rates in Michigan
Three views of Michigan mortgage rates: today's national average benchmark, what Michigan buyers actually got (federal HMDA data), and current rates from Michigan banks and credit unions.
Today's national average
Freddie Mac PMMS, week of June 18, 2026 — the benchmark MI lenders price against.
What Michigan buyers actually paid (2023)
Based on 80,781 conventional home-purchase loans originated in Michigan, from federal HMDA records.
HMDA data is released annually and reflects the 2023calendar year, so it shows long-run Michigan averages rather than this week's rate. Source: CFPB / FFIEC HMDA Data Browser.
Michigan banks & credit unions
Rates as of June 20, 2026.
| Lender | Type | 30-Yr | 15-Yr | |
|---|---|---|---|---|
| Lake Michigan Credit Union | Credit Union | 6.50% | 5.75% | Get a quote → |
| DFCU Financial | Credit Union | 6.55% | 5.79% | Get a quote → |
| Genisys Credit Union | Credit Union | 6.58% | 5.85% | Get a quote → |
| MSU Federal Credit Union | Credit Union | 6.62% | 5.88% | Get a quote → |
| Independent Bank | Bank | 6.69% | 5.95% | Get a quote → |
| Mercantile Bank of Michigan | Bank | 6.74% | 5.99% | Get a quote → |
Listing is informational and not an endorsement or offer. Lenders shown do not pay for placement unless marked "Sponsored."
How to read these numbers
The national average is this week's Freddie Mac benchmark for a well-qualified borrower. The HMDA figures show the real spread of rates Michigan buyers locked in over a full year — useful for sanity-checking a quote. The lender panel shows current Michigan options. Your actual rate depends on credit score, down payment, loan type, and points.
Disclaimer: Michigan Home Calcs provides rate information for general informational purposes only. Nothing here is an offer, quote, or commitment to lend. Verify current rates directly with each lender. Sources: Freddie Mac PMMS via FRED; CFPB/FFIEC HMDA.