U.S. loan originator, Citi Mortgage (NYSE:C) updated its mortgage information for Thursday, April 17, which shows a couple of upticks in interest rates. For instance, the 30-year fixed loan, under the lender’s home mortgage portfolio, is now coming out at 4.375%, a slightly higher rate compared to the former 4.250% that it held earlier this week. On the other hand, no changes were made to the 15-year FRM, it’s published at a rate of 3.375% at Citi Mortgage.
Moving on to the the best refinance rates at this lender, the standard 30-year fixed refinance loan is quoted at a rate of 4.375%, unchanged since Wednesday. Those favoring the 15-year home refinance loan, will encounter a higher interest rate in the form of 3.500%. Previously, this type of refinance loan was carrying 3.375% interest cost. For details on the corresponding discount points and annual percentage rates (APRs), please check the data below.
Citi Mortgage offers excellent mortgage rates under both its home purchase and refinance programs, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some suitable loan options at this financial institution.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.375%, 0.750 discount points, 4.540% APR
15-Year Fixed-Rate Mortgage: 3.375%, 1.250 discount points, 3.731% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.375%, 1.625 discount points, 4.600% APR
15-Year Fixed-Rate Mortgage: 3.500%, 1.375 discount points, 3.847% 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.
Mortgage application activity increased in the U.S., according to the results of the Mortgage Bankers Association’s (MBA) most recent survey. The MBA reported this week that the seasonally adjusted Market Composite Index advanced 4.3% in the week ended April 11. The Refinance Index rose 7%, while the Purchase Index improved 1%, in the said period. According to the survey, the share of applicants seeking to refinance their existing loans edged up to 52% from the previous 51%, the MBA announced.
As for national average mortgage rates, Freddie Mac reported on Thursday that the average rate on the 30-year fixed loan ticked down to 4.27%. A week earlier this type of loan was carrying 4.34% in interest. With regards to the 15-year fixed loan, the average rate eased by 5 basis points to 3.33%, the mortgage-finance company disclosed in its weekly survey.
For further information on Citi Mortgage’s home purchase and refinance mortgage interest rates, loan assumptions and borrowing terms and conditions, please see the lender’s website.