Mortgage rates have barely changed on the majority of loan packages at U.S. lender Citi Mortgage (NYSE:C) on Friday, August 1. One exception, though, is the 15-year conventional refinance loan, as the lender is now listing this type of mortgage at a slightly higher rate in the form of 3.500%. A day earlier the aforementioned home refinance loan was carrying 3.375% in interest. As far as the 30-year refinance mortgage is concerned, it’s been holding steady at 4.250% since yesterday.
Turning focus to current home purchase mortgage rates at this lender, the 30-year FRM is quoted at a rate of 4.125%, unchanged compared to Thursday’s rate level. The shorter-term, 15-year fixed home mortgage hasn’t seen any alterations either, currently the interest rate on this loan is hovering at 3.250%. For additional information on Citi Mortgage’s latest mortgage interest rates, as well as details on 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 ideal loan options at this loan provider.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.125%, 0.875 discount points, 4.299% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.250 discount points, 3.605% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.250%, 0.875 discount points, 4.409% APR
15-Year Fixed-Rate Mortgage: 3.500%, 0.750 discount points, 3.755% 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 volume declined in the U.S., according to the results of the Mortgage Bankers Association’s (MBA) most recent survey released on Wednesday. The MBA reported that the seasonally adjusted Market Composite Index dipped 2.2% in the week ended July 25. The Refinance Index drifted lower 4%, while the Purchase Index increased 0.2%, in the said period. According to the survey, the share of applicants seeking to refinance their existing loans ticked down to 53% from the former 54%, that it carried in the prior week.
As for national average mortgage rates, Freddie Mac reported on Thursday that the average rate on the 30-year fixed loan decreased to 4.12%. A week earlier this type of loan was carrying a rate of 4.13%. With regards to the 15-year fixed loan, the average rate dipped to 3.23% from 3.26%, 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 check the financial institution’s website.