Compare Today’s Mortgage Rates in Southfield, Michigan 48086
Pureloan is dedicated to helping you secure the best mortgage rates by conducting extensive searches among mortgage lenders and major banks in Southfield, Michigan 48086.
Our search engine thoroughly explores all home mortgage options in Southfield, Michigan 48086, 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 $2,188 in lifetime cash or $6 per month in Southfield and other areas of Oakland county.
42.4869
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Summary of Average Mortgages in Southfield, Michigan 48086
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Mortgage Rate Projections for Southfield, Michigan 48086
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Southfield, MI 48086. 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 Southfield, Michigan 48086 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Southfield, 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 Southfield, Michigan 48086
For those searching for a new home in Southfield, we have compiled a list of the top mortgage brokers located in and around Southfield, Michigan 48086 to assist you with your search.
Name
Address
Contact
Major Financial
25844 W 9 Mile Rd
Southfield MI 48086
(248) 746-0800
Royal Mortgage
24800 Denso Dr
Southfield MI 48086
(248) 440-0511
Cambridge Lending Firm
23800 W 10 Mile Rd
Southfield MI 48086
(248) 436-3444
Rockwell Mortgage
26400 Lahser Rd
Southfield MI 48086
(248) 569-2205
Sungard Securities Finance
25900 Telegraph Rd
Southfield MI 48086
(248) 351-0812
Address
25844 W 9 Mile Rd
Southfield MI
Contact
(248) 746-0800
Address
24800 Denso Dr
Southfield MI
Contact
(248) 440-0511
Address
23800 W 10 Mile Rd
Southfield MI
Contact
(248) 436-3444