Yesterday was a rather uneventful day as far as mortgage interest rate are concerned, but coming to Tuesday, we are seeing a number of lenders increasing rates on select loan packages. One of these mortgage lenders is Citi Mortgage (NYSE:C), as according to the financial institution’s latest loan information, interest rates head higher on 30-year and 15-year fixed mortgages on Tuesday.
Under the lender’s home loan program, the 30-year fixed conventional mortgage is published at a rate of 4.000%. a higher interest rate compared to yesterday’s quote (3.875%). Another mortgage loan package, which carries a steeper rate today is the 15-year FRM, this type of loan is now coming out at 3.125%, an uptick of 0.125% since Monday. Moving on to today’s best refinance rates at this loan originator, the 30-year home refinance loan is listed at a rate of 4.125%. A day earlier this type of mortgage was advertised at a rate of 4.125%. Moreover, the shorter, but equally popular 15-year refinance mortgage is listed by the lender at a higher rate today, in the form of 3.125%. Below you can find additional information on Citi Mortgage’s current mortgage interest rates and APRs.
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 solutions at this lender.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.000%, 1.125 discount points, 4.194% APR
15-Year Fixed-Rate Mortgage: 3.125%, 0.750 discount points, 3.405% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.125%, 1.000 discount points, 4.293% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.625 discount points, 3.506% 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 last week. The MBA reported that the seasonally adjusted Market Composite Index tumbled 1% in the week ended June 20. The Refinance Index edged down 1%, while the Purchase Index sank 1%, in the said period. According to the survey, the share of applicants seeking to refinance their existing loans remained unchanged at 52%.
As for national average mortgage rates, Freddie Mac reported last week that the average rate on the 30-year fixed loan headed lower to 4.14%. A week earlier this type of loan was carrying 4.17% in interest. With regards to the 15-year fixed loan, the average rate came in at 3.22%, an improvement of 8 basis points compared to the previous data, the mortgage-finance company reported 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 head over to the financial institution’s website.