Compare Today’s Mortgage Rates in Covington, Michigan 49919
Pureloan is dedicated to helping you secure the best mortgage rates by conducting extensive searches among mortgage lenders and major banks in Covington, Michigan 49919.
Our search engine thoroughly explores all home mortgage options in Covington, Michigan 49919, including fixed-rate, adjustable-rate (ARM), FHA, VA, USDA, conventional, jumbo, and conforming home mortgages. Based on our calculations, we estimate that for a 30-year fixed loan, you can expect to save $8,848 in lifetime cash or $25 per month in Covington and other areas of Baraga county.
Summary of Average Mortgages in Covington, Michigan 49919
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Interactive Mortgage Rate Projections for Covington, Michigan 49919
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Covington, MI 49919. This chart tracks the rates of the five largest nationwide lenders based on historical data from closed mortgage financings and projections using our proprietary modeling.
Historical Mortgage Rates in Covington, Michigan 49919 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Covington, Michigan and around Baraga county to provide insight into trends that may be helpful during your home buying process. This data is derived from actual closed loans.
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
---|---|---|---|---|---|---|---|---|---|
% 30 year fixed mortgage | 93.40% | 92.48% | 91.13% | 90.41% | 89.65% | 86.86% | 86.35% | 83.37% | 82.01% |
avg mortgage rate | 6.60% | 4.75% | 3.12% | 3.43% | 4.46% | 4.67% | 4.17% | 3.89% | 4.08% |
% 15 year fixed mortgage | 5.88% | 5.79% | 6.96% | 7.13% | 7.83% | 10.10% | 11.02% | 12.98% | 14.37% |
avg mortgage rate | 6.08% | 3.76% | 2.42% | 2.96% | 3.76% | 4.01% | 3.34% | 3.06% | 3.24% |
Avg credit score | 763.63 | 747.23 | 754.02 | 753.85 | 752.04 | 754.54 | 751.54 | 746.78 | 753.52 |
Avg LTV (loan to value) | 84.76% | 84.89% | 84.93% | 85.02% | 84.16% | 82.72% | 83.09% | 83.49% | 82.35% |
Avg DTI (debt to income) | 36.51 | 35.25 | 33.30 | 33.28 | 33.73 | 33.36 | 32.98 | 32.61 | 31.94 |
% First time homebuyer | 45.28% | 40.64% | 36.82% | 34.18% | 35.62% | 26.60% | 25.89% | 25.09% | 24.96% |
Avg mortgage insurance % | 15.61% | 15.43% | 15.22% | 15.06% | 14.42% | 12.32% | 12.81% | 12.83% | 11.66% |
Best Mortgage Brokers around Covington, Michigan 49919
For those searching for a new home in Covington, we have compiled a list of the top mortgage brokers located in and around Covington, Michigan 49919 to assist you with your search.
Fitzgerald Associates
200 Michigan St
Hancock MI 49919
(906) 482-6072
K Eda
600 E Lakeshore Dr
Houghton MI 49919
(906) 482-6817
Wells Fargo Home Mortgage
1303 College Ave
Houghton MI 49919
(906) 483-0750
http://www.wellsfargo.com/mortgage/
Wells Fargo Home Mortgage
600 Shelden Ave
Houghton MI 49919
(906) 487-5847
http://www.wellsfargo.com/mortgage/
Wells Fargo Home Mortgage
205 W Aurora St
Ironwood MI 49919
(906) 932-2922
http://www.wellsfargo.com/mortgage/
Address
200 Michigan St
Hancock MI
Contact
(906) 482-6072
Address
600 E Lakeshore Dr
Houghton MI
Contact
(906) 482-6817
Address
1303 College Ave
Houghton MI
Contact
(906) 483-0750
http://www.wellsfargo.com/mortgage/