Home purchase and refinance mortgage rates are creeping higher at Citi Mortgage (NYSE:C), a trend that we have also seen today at other lenders like Bank of America (NYSE:BAC) and Branch Banking and Trust (NYSE:BBT) amongst others. Citi Mortgage is offering the 30-year fixed loan for home refinancing at a rate of 3.750%. Yesterday, this type of mortgage was advertised at a rate of 3.500% at this lender. The shorter-term, but popular 15-year fixed refinance mortgage can be secured at a rate of 3.000%, which is a tad higher than yesterday’s 2.875% rate. More details on current refinance mortgage rates as well as information on the latest home purchase rates can be seen 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 loan, may find some ideal mortgage deals at this lender.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.750%, 0.750 discount points, 3.910% APR
15-Year Fixed-Rate Mortgage: 2.875%, 1.000 discount points, 3.189% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 3.750%, 1.250 discount points, 3.936% APR
15-Year Fixed-Rate Mortgage: 3.000%, 0.750 discount points, 3.251% 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 rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
On Thursday, Freddie Mac said that the national average rate on the 30-year fixed loan climbed to 3.52%, slightly up from last week’s 3.51% rate. The average interest rate on the 15-year FRM didn’t see any changes and remained at 2.76%.
In other news, mortgage application activity in the United States rose last week, according to the results of the Mortgage Bankers Association’s (MBA) latest survey. The seasonally adjusted Market Composite Index, which measures total mortgage application activity, was up 14.8% in the week ended March 1, the MBA said on Wednesday. The number of filed applications for home refinancing packages increased 14.8%, while the Purchase Index advanced 15% in the said period. The refinance share of total mortgage applications held steady at 77%.
For more information on Citi Mortgage’s home purchase and refinance mortgage rates, loan assumptions and borrowing terms and conditions, please check the lender’s website.