Compare Today’s Refinance Rates for Ray, Michigan 48096
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Ray, Michigan 48096.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $5,034 over the lifetime of your mortgage, which translates to a monthly savings of $14 in Ray and other areas of Macomb county. We analyze all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing, to provide you with the most suitable options for your financial situation.
Summary of Average Refinances in Ray, Michigan 48096
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Interactive Refinance Rate Projections for Ray, Michigan 48096
Pureloan has developed an interactive chart to monitor the five largest local lenders in Ray, MI 48096, for refinancing and cash-out. The chart features historical rates, which are based on completed refinancings, and projections, which are based on proprietary modeling.
Historical Refinance Rates in Ray, Michigan 48096 from 2024 - 2016
The following historical data provides insights into refinancing trends in Ray, Michigan and the surrounding Macomb county, based on factors such as loan type, credit score, LTV, and other parameters. This data is derived from actual closed home refinancings.
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
| % 30 year fixed refinance | 82.61% | 58.01% | 56.80% | 55.14% | 62.60% | 54.95% | 52.28% | 52.83% | 54.68% |
| avg refi rate | 6.46% | 3.61% | 3.01% | 3.29% | 4.17% | 4.58% | 4.14% | 3.96% | 4.14% |
| % 15 year fixed refinance | 13.04% | 26.19% | 26.83% | 26.58% | 21.76% | 32.42% | 34.70% | 33.88% | 31.87% |
| avg refi rate | 5.78% | 2.81% | 2.47% | 2.80% | 3.64% | 3.91% | 3.39% | 3.20% | 3.38% |
| Avg credit score | 735.75 | 740.32 | 752.34 | 757.61 | 746.87 | 740.69 | 746.29 | 751.67 | 754.48 |
| Avg LTV (loan to value) | 62.64% | 61.38% | 65.49% | 69.51% | 73.18% | 67.93% | 70.23% | 71.59% | 72.41% |
| Avg DTI (debt to income) | 37.35 | 33.47 | 32.28 | 31.96 | 33.16 | 34.03 | 33.28 | 32.28 | 31.69 |
| Avg refinance insurance % | 2.29% | 1.30% | 2.21% | 3.64% | 5.58% | 3.00% | 3.69% | 4.13% | 4.54% |
Best Refinance Brokers around Ray, Michigan 48096
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Ray, Michigan 48096, we have compiled a list of top refinance brokers to assist you in the process.
Susan Wille
Senior Mortgage Loan Officer/Relationship Banker
125 S 5th Ave
Ann Arbor, MI 48096
(734) 414-1930
SWille@boaa.com
Amaechi Udoji
Loan Officer
2395 Oak Valley Dr Ste 200
Ann Arbor, MI 48096
(734) 669-7318
audoji@huronvalleyfinancial.com
Jim O'Kunze
Loan Officer
2395 Oak Valley Dr Ste 200
Ann Arbor, MI 48096
(734) 669-6018
jokunze@huronvalleyfinancial.com
Karen Hallway
Loan Officer
2395 Oak Valley Dr Ste 200
Ann Arbor, MI 48096
(734) 994-0007
khallway@huronvalleyfinancial.com
Ken Brown
Loan Officer
2395 Oak Valley Dr Ste 200
Ann Arbor, MI 48096
(734) 669-4211
kbrown@huronvalleyfinancial.com
Address
125 S 5th Ave
Ann Arbor, MI
Contact
(734) 414-1930
Fax (301) 639-0804
SWille@boaa.com
Address
2395 Oak Valley Dr Ste 200
Ann Arbor, MI
Contact
(734) 669-7318
Fax (301) 639-0804
audoji@huronvalleyfinancial.com
Address
2395 Oak Valley Dr Ste 200
Ann Arbor, MI
Contact
(734) 669-6018
Fax (301) 639-0804
jokunze@huronvalleyfinancial.com