Mortgage Rates in Fraser, Michigan — March 2026
Updated March 2026 | Based on Fraser market data and regional lending conditions
Fraser is a growing city in Michigan with a population of 14,885. The current 30-year fixed mortgage rate in Fraser is 6.62%, which is 0.03% below the national average. With a median home price of $176,000 and a 20% down payment of $35,200, homebuyers can expect a monthly principal and interest payment of approximately $901.
Current Mortgage Rates in Fraser, MI
Below are the current average mortgage rates available in the Fraser area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.62% | 6.65% | -0.03% |
| 15-Year Fixed | 5.89% | 5.89% | 0% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Fraser Housing Market Overview
The Fraser housing market offers relatively affordable housing compared to many major cities. The median household income in Fraser is $49,400, and the cost of living index is 84.7 (national average = 100). Based on the 28% affordability rule, the median income in Fraser is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Fraser
Based on the median home price of $176,000 with 20% down ($35,200), here is what you can expect to pay monthly in Fraser:
15-Year vs. 30-Year Mortgage in Fraser
Choosing a 15-year mortgage in Fraser at 5.89% instead of a 30-year at 6.62% would save you $111,960 in total interest over the life of the loan. However, your monthly payment would be $1,180 instead of $901 — an increase of $279 per month.
Calculate Your Fraser Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Fraser
What are the current mortgage rates in Fraser, MI?
As of March 2026, the average 30-year fixed mortgage rate in Fraser, Michigan is 6.62%, while the 15-year fixed rate is 5.89%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.03% below the national average of 6.65%.
How much is a monthly mortgage payment in Fraser?
Based on the median home price of $176,000 with 20% down, the estimated monthly mortgage payment in Fraser is $901 for principal and interest. Including property taxes of $241/month, the total monthly housing cost is approximately $1,142.
What income do I need to buy a home in Fraser?
Using the 28% rule, you would need an annual income of approximately $48,943 to afford the median-priced home in Fraser at $176,000. The median household income in Fraser is $49,400. The median income is currently sufficient to meet this threshold.
Is Fraser a good place to buy a home in 2026?
Fraser offers a below-average cost of living with a cost of living index of 84.7 (national average = 100). The property tax rate in Michigan is 1.64%, which is above the national average. Fraser has a population of 14,885 and offers a very affordable lifestyle.
Mortgage Rates in Other Michigan Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Fraser, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.