Michigan's average 30-year mortgage rate recently decreased slightly to 6.667%, with a 15-year fixed rate at 5.84%. Jumbo 30-year mortgage rates also fell to 6.688%. Refinance rates dropped to 6.723% for 30-year and 5.805% for 15-year loans. Rates have generally trended upward over three months but remain just below national averages. Securing the best rates involves comparing lenders, maintaining strong credit, and understanding local market trends.