I think that's about right but I am a bit shocked.. maybe they assumed its a Rutgers "home" game?
Michigan has been favored by 4.5 or so in games they had no business being favored. That told me that's balance-the-books lines.. meaning MORE Michigan fans and/or more money to bet than opponent fans and/or they think too much of their team.
I would have expected 2.5-3.5 Michigan favorite.