For home buyers and homeowners

30-year fixed

Get lower monthly payments and a fixed interest rate when you buy or refinance with Rocket Mortgage®.
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A home loan you can count on

Fixed interest rate

Your interest rate stays the same for the life of the loan.

3% down payment

You can get into a new home with a down payment as low as 3%.

Lower monthly payments

A longer loan period means you pay less each month.

No prepayment penalties

Want to pay off your mortgage early? You won’t get hit with prepayment penalties.
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Explore housing trends

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Market reports near me

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Detroit housing market report

Wayne County, Michigan

Market conditions

Seller's Neutral Buyer's Unknown market

Detroit is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

We don't have enough info to determine this area's market type.

Asking vs. sold price

93 homes over asking

85 homes at asking

216 homes under asking

Median sold price

+12.4%

$ - 9 - 0 K

Average sale time

+5.9%

- 4 - 8 days

Mortgage rates

30-Year Fixed

Rate

7.125%

APR

7.436%

Points

1.875 ($5,156.25)

20-Year Fixed

Rate

6.99%

APR

7.408%

Points

2 ($5,500.00)

Availability

Homes sold

- 3 - 9 - 4

Last month

-10.3%

Change MoM

Homes for sale

- 3 - 2 - 7 - 3

Last month

+13.4%

Change MoM

Sold price

BedsFeb 2024Feb 2025 Change
1 -- --
--
2 -- --
--
3 $77.9K $85.1K
+ 9.2
4 -- $133.8K
--

Data is current as of 12:00 AM UTC on May 1, 2025

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Frequently asked questions

Answers to questions about this loan we heard from people like you during research.
Learn more about fixed-rate loans

Buy or refinance with a 30-year fixed home loan