Citi Mortgage (NYSE:C), which is an established lender in the U.S., updated its mortgage information for Thursday, October 16. For the latest details on the O’Fallon, MO-headquartered lender’s current mortgage interest rates and annual percentage rates (APRs), please check the data below.
The mortgage originator provides excellent mortgage rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some ideal loans at this lender.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.750%, 1.375 discount points, 3.962% APR
15-Year Fixed-Rate Mortgage: 3.000%, 1.250 discount points, 3.352% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.000%, 0.875 discount points, 4.156% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.000 discount points, 3.540% 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 increased 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 rose 5.6% in the week ended October 10. The Refinance Index jumped 11%, while the Purchase Index tumbled 1% in the said period. According to the survey, the share of applicants seeking to refinance their existing loans soared to 59% last week.
As for national average mortgage rates, Freddie Mac reported this week that the average rate on the 30-year fixed loan fell to 3.97%, a 15 basis points improvement over the former 4.12% that it held a week earlier. With regards to the 15-year fixed loan, the average rate ticked down to 3.18%, the housing giant said in its weekly survey.
For more details on the latest home purchase and refinance mortgage interest rates at Citi Mortgage, as well as information on borrowing terms and conditions and loan assumptions, please take a visit to the lender’s website.