Michigan Mortgage Rates
Michigan, which is a strong buyer's market, especially for starters, offers an affordable standard of living. With its low interest rates and attractive homes priced below market value, it is considered the best state in the country to invest in real estate. The revitalization of downtown Lansing has resulted in a number of businesses moving to the area and setting up shop there. With an increasing number of new residents, Lansing's home values are witnessing a solid appreciation. One of the reasons why the city is ranked one of the top places in the country for investors to tap is its low home prices. Ann Arbor's housing market is also very strong, this being attributed to the University of Michigan and industries in the area which generate a steady influx and outflow of residents. Detroit's mortgage interest rates are at historic lows, and Dearborn's real estate prices are at rock bottom, creating an extremely favorable environment for the purchase of a condo, single-family residences or investment property. The little town of Charlevoix is ranked among the nation's ten best second-home investment markets. As for South Haven, the construction of new homes and the renovation of old ones have turned the city into a second home market.