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Live Rates
30-Year Fixed6.625%-0.125|15-Year Fixed5.875%-0.063|30-Year FHA6.375%-0.125|30-Year VA6.125%-0.063|5/1 ARM6.125%0.000|7/1 ARM6.250%+0.063|30-Year Jumbo7.125%-0.188|15-Year Jumbo6.625%-0.125|CA Avg6.550%-0.080|TX Avg6.720%+0.050|FL Avg6.680%-0.030|NY Avg6.500%-0.100|PA Avg6.450%-0.050|IL Avg6.580%+0.020|OH Avg6.380%-0.070|GA Avg6.650%0.000|NC Avg6.520%-0.040|MI Avg6.480%-0.060|AZ Avg6.600%+0.030|WA Avg6.420%-0.090|30-Year Fixed6.625%-0.125|15-Year Fixed5.875%-0.063|30-Year FHA6.375%-0.125|30-Year VA6.125%-0.063|5/1 ARM6.125%0.000|7/1 ARM6.250%+0.063|30-Year Jumbo7.125%-0.188|15-Year Jumbo6.625%-0.125|CA Avg6.550%-0.080|TX Avg6.720%+0.050|FL Avg6.680%-0.030|NY Avg6.500%-0.100|PA Avg6.450%-0.050|IL Avg6.580%+0.020|OH Avg6.380%-0.070|GA Avg6.650%0.000|NC Avg6.520%-0.040|MI Avg6.480%-0.060|AZ Avg6.600%+0.030|WA Avg6.420%-0.090|
Home/Michigan Mortgage Rates/Detroit

Mortgage Rates in Detroit, Michigan: 2026 Guide

30-year fixed: 6.78%. Median: $185,000.

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Current Mortgage Rates in Detroit

Loan TypeRateAPRMonthly*
30-Year Fixed6.78%6.860%$963/mo
15-Year Fixed6.26%6.330%$1,270/mo
5/1 ARM6.16%6.510%$903/mo
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Detroit Market Insights

Detroit has been experiencing a renaissance, with significant investment in downtown, Midtown, and Corktown neighborhoods. The housing market offers some of the most affordable prices among major US cities, with opportunities for both owner-occupants and investors.

FAQs

What is the average mortgage rate in Detroit?+
The average 30-year fixed rate in Detroit is 6.78%.
How much down payment is needed?+
On a median home of $185,000, 20% down is $37,000.
What are property taxes?+
MI rate: 1.54%. Annual taxes: $2,849.

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