Current mortgage rates look mixed at U.S. loan provider, Citi Mortgage (NYSE:C) on Wednesday, July 30, according to our observations. Under the financial institution’s home loan program, the 30-year fixed conventional loan is listed at a rate of 4.000%, unchanged compared to data from a day earlier. On the other hand, the 15-year fixed home purchase loan now carries a tad higher interest rate in the form of 3.250%. The difference compared to the loan’s former rate level is 0.125%.
The lender also provides loans for mortgage refinancing purposes, for borrowers, who are able to meet the credit requirements. Currently, the 30-year home refinance loan, which comes with a fixed interest rate during the loan’s term, is published at a rate of 4.000%. This is a slightly lower mortgage interest rate than the previous 4.125% that it had before. Individuals, who opt for the 15-year FRM, can expect to pay 3.250% interest cost. More information on Citi Mortgage’s latest mortgage interest rates, as well as details on discount points and APRs can be found 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 products at this financial institution.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.000%, 1.500 discount points, 4.226% APR
15-Year Fixed-Rate Mortgage: 3.250%, 0.875 discount points, 3.549% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.000%, 2.375 discount points, 4.285% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.750 discount points, 3.651% 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 last week that the average rate on the 30-year fixed loan remained steady at 4.13%. A week earlier this type of loan was carrying the same interest rate. With regards to the 15-year fixed loan, the average rate advanced to 3.26% from 3.23%, 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 visit the lender’s website.