30-Year Mortgage Rates: Conventional Home Loans and Refinance Rates at Citi Mortgage for May 27


30-Year Mortgage Rates: Conventional Home Loans and Refinance Rates at Citi Mortgage for May 27Major U.S. lender, Citi Mortgage (NYSE:C) disclosed the updated mortgage information for its conventional loans on May 27, 2015. Information on 30-year and 15-year home mortgage loans, discount points and annual percentage rates (APRs) are discussed below. This bank offers attractive mortgage rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some ideal loans at this lender.

Citi Mortgage Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.750%, 0.625 discount points, 3.899% APR
15-Year Fixed-Rate Mortgage: 3.000%, 0.750 discount points, 3.279% APR

Citi Mortgage Refinance Rates

30-Year Fixed-Rate Mortgage: 3.750%, 2.000 discount points, 3.999% APR
15-Year Fixed-Rate Mortgage: 3.250%, 0.875 discount points, 3.521% APR

Please, bear in mind, that the current mortgage interest rates may vary without prior notice from the bank and are subject to change based on location, geography and other terms and conditions. The annual percentage rate calculations were made based on discount points, origination fees, average loan fees and closing costs.

► Compare Today’s Mortgage Rates and Find The Best Loans

Looking at national mortgage news, the Mortgage Bankers Association (MBA) disclosed the results of its latest weekly survey during this week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, edged down 1.6% on a seasonally adjusted basis in the week ended May 22. Loan applications for mortgage refinancing slipped 4%, according to the organization’s data. The Purchase Index edged up 1% in the said period. The refinance share of total mortgage applications inched down to 51% from the previous 52%, according to the latest data. On the other hand, the share of ARMs stayed firm at 6.4%.

The average contract interest rate on the 30-year fixed mortgage advanced by 3 basis points to 4.07%, according to the MBA. As far as the 15-year FRM is concerned, the average rate came in at 3.29%, an uptick of 3 basis points, according to the MBA’s survey.

Virginia-based housing finance company, Freddie Mac said last Thursday, that the average rate on the 30-year fixed mortgage sank to 3.84% from the previous 3.85%. On the other hand, the average rate on the shorter-term 15-year fixed mortgage declined to 3.05% during the past week. Previously this type of mortgage loan averaged a rate of 3.07%, according to Freddie Mac.

Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan headed higher to 4.03% last week. The interest rate on the shorter-term, 15-year mortgage surged at 3.23%, according to the the latest data. The current rate on the 5/1 ARM ticked up in the company’s latest survey, this type of mortgage is now standing at 3.19%.

For further details on the latest home purchase and refinance mortgage interest rates at Citi Mortgage, as well as information on borrowing terms and conditions and loan assumptions, please take a visit to the financial institution’s website.