Compare Today’s Mortgage Rates in Royal Oak, Michigan 48068
Pureloan is a mortgage search engine dedicated to thoroughly searching major lenders and finding you the best mortgage rates in Royal Oak, Michigan 48068.
Whether you are seeking a fixed-rate, adjustable-rate (ARM), FHA, VA, USDA, conventional, jumbo, or conforming home mortgage, our search engine explores all the options in Royal Oak, Michigan 48068. For a 30-year fixed loan, our calculations show that you can expect to save up to $10,679 over the lifetime of your mortgage, which translates to a monthly savings of $30 in Royal Oak and other areas of Oakland county.
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Summary of Average Mortgages in Royal Oak, Michigan 48068
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Mortgage Rate Projections for Royal Oak, Michigan 48068
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Royal Oak, MI 48068. 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 Royal Oak, Michigan 48068 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Royal Oak, Michigan and around Oakland 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 | 96.23% | 94.13% | 93.32% | 92.65% | 92.35% | 89.89% | 89.56% | 89.71% | 89.15% |
avg mortgage rate | 6.58% | 4.80% | 3.09% | 3.49% | 4.50% | 4.73% | 4.29% | 4.02% | 4.23% |
% 15 year fixed mortgage | 3.10% | 4.75% | 5.56% | 6.21% | 6.11% | 8.24% | 8.76% | 8.56% | 9.09% |
avg mortgage rate | 5.67% | 3.98% | 2.48% | 2.92% | 3.84% | 4.03% | 3.49% | 3.18% | 3.37% |
Avg credit score | 746.03 | 746.49 | 749.90 | 747.42 | 745.95 | 753.41 | 746.23 | 750.53 | 749.01 |
Avg LTV (loan to value) | 84.36% | 85.12% | 85.41% | 85.56% | 84.89% | 81.58% | 83.05% | 83.66% | 83.50% |
Avg DTI (debt to income) | 37.81 | 36.60 | 34.62 | 34.88 | 35.27 | 35.36 | 34.60 | 33.85 | 33.08 |
% First time homebuyer | 59.05% | 54.31% | 51.92% | 52.69% | 50.30% | 38.64% | 38.97% | 41.58% | 40.75% |
Avg mortgage insurance % | 15.15% | 15.52% | 15.39% | 15.44% | 14.68% | 11.44% | 12.40% | 13.46% | 13.31% |
Best Mortgage Brokers around Royal Oak, Michigan 48068
For those searching for a new home in Royal Oak, we have compiled a list of the top mortgage brokers located in and around Royal Oak, Michigan 48068 to assist you with your search.
Name
Address
Contact
Corp One
210 E 3rd St
Royal Oak MI 48068
(248) 543-2274
Asset Mutual Mortgage
25600 Woodward Ave
Royal Oak MI 48068
(248) 677-4950
Meadowbrook Mortgage Corporation
858 S Main St
Royal Oak MI 48068
(248) 593-0700
Burbary, Tim Owner - Mortgage Index Lending
414 E 5th St
Royal Oak MI 48068
(248) 629-5062
info@mortgageindexlending.com
Drake Financial Services
225 S Troy St
Royal Oak MI 48068
(248) 543-4623
http://www.drakefinancialservices.com/
Address
210 E 3rd St
Royal Oak MI
Contact
(248) 543-2274
Address
25600 Woodward Ave
Royal Oak MI
Contact
(248) 677-4950
Address
858 S Main St
Royal Oak MI
Contact
(248) 593-0700