30-Year Mortgage Rates: Current Home Loans and Refinance Rates at Citi Mortgage for April 10


30-Year Refinance RatesAmerican financial institution, Citi Mortgage (NYSE:C) updated its mortgage information for April 10, 2015, which is discussed below. Citi Mortgage advertises 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 mortgage, may find some suitable products at this loan originator.

Citi Mortgage Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.500%, 1.375 discount points, 3.709% APR
15-Year Fixed-Rate Mortgage: 2.875%, 0.875 discount points, 3.171% APR

Citi Mortgage Refinance Rates

30-Year Fixed-Rate Mortgage: 3.750%, 0.625 discount points, 3.883% APR
15-Year Fixed-Rate Mortgage: 3.000%, 1.250 discount points, 3.324% 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) published 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, increased 0.4% on a seasonally adjusted basis in the week ended April 3. Loan applications for mortgage refinancing ticked down 3%, according to the organization’s data. The Purchase Index improved 7%. The refinance share of total mortgage applications fell to 57% from the previous 60%, according to the latest data.

On the other hand, the share of ARMs decreased to 5.5%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications increased to 13.2% from the previous 12.8% that it carried before. Now, the share of VA loan applications escalated to 10.7%, according to the weekly survey. The share of USDA mortgage applications hasn’t changed in the said period, these type of loans account for 0.8% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage ticked down by 3 basis point to 3.86%, according to the MBA. As far as the 15-year FRM is concerned, the average rate is hovering at 3.15%, a downtick of 6 basis points, according to the MBA’s data.

Freddie Mac, which is based in McLean, VA, said this week, that the interest rate on the 30-year fixed loan slipped to 3.66% from the previous 3.70%. On the other hand, the interest rate on the shorter-term 15-year fixed mortgage drifted lower to 2.93% this week. A week earlier this type of mortgage loan averaged a rate of 2.98%, according to the firm.

Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year mortgage remained intact at 3.82% this week. The interest rate on the shorter-term, 15-year mortgage improved by 2 basis points to 3.04%, according to the the latest data. The interest rate on the 5/1 adjustable rate mortgage moved lower in Bankrate’s survey, this type of mortgage is now standing at 3.06%.

For more 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 look at the lender’s website.