Current Mortgage Interest Rates at Citi Mortgage for April 21

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Today's Mortgage RatesMajor U.S. lender, Citi Mortgage (NYSE:C) disclosed the updated mortgage information for its conventional loans on April 21, 2015. The latest information on 30-year and 15-year home mortgage loans, discount points and annual percentage rates (APRs) are discussed below. Citi Mortgage provides 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 loan options at this lender.

Citi Mortgage Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.500%, 1.500 discount points, 3.719% APR
15-Year Fixed-Rate Mortgage: 2.875%, 1.125 discount points, 3.208% APR

Citi Mortgage Refinance Rates

30-Year Fixed-Rate Mortgage: 3.750%, 0.750 discount points, 3.894% APR
15-Year Fixed-Rate Mortgage: 3.125%, 0.875 discount points, 3.395% 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.

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Looking at national mortgage news, the Mortgage Bankers Association (MBA) published the results of its latest weekly survey during last week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, declined 2.3% on a seasonally adjusted basis in the week ended April 10. Loan applications for mortgage refinancing fell 2%, according to the organization’s data. The Purchase Index headed lower 3%. The refinance share of total mortgage applications advanced to 58% from the previous 57%, according to the latest data.

On the other hand, the share of ARMs decreased to 5.4%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications increased to 13.5% from the previous 13.2% that it carried before. Now, the share of VA loan applications soared to 11.1%, 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 climbed by 1 basis point to 3.87%, according to the MBA. As far as the 15-year FRM is concerned, the average rate is standing at 3.16%, an uptick of 1 basis point, according to the MBA’s data.

Mortgage-buyer, Freddie Mac reported last week, that the interest rate on the 30-year fixed mortgage ticked up to 3.67% from the previous 3.66%. Meanwhile, the average rate on the shorter-term 15-year fixed loan inched up to 2.94% last week. A week earlier this type of mortgage loan averaged a rate of 2.93%, according to Freddie Mac.

Bankrate also disclosed its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage slipped to 3.79% during the past week. The interest rate on the shorter-term, 15-year mortgage inched down by 1 basis point to 3.03%, according to the the latest data. The current rate on the 5/1 adjustable rate mortgage increased in Bankrate’s survey, this type of loan is now coming out at 3.08%.

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 visit to the loan originator’s website.