O’Fallon, MO-based financial institution, Citi Mortgage (NYSE:C) updated its home purchase and refinance loan information for Monday, November 10. Detailed information on Citi Mortgage’s latest mortgage interest rates and APRs are listed below. Citi Mortgage 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 loan, may find some ideal mortgages at this lender.
Citi Mortgage Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.875%, 1.500 discount points, 4.099% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.250 discount points, 3.478% APR
Citi Mortgage Refinance Rates
30-Year Fixed-Rate Mortgage: 4.000%, 1.375 discount points, 4.199% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.250 discount points, 3.577% 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 tumbled 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 fell 2.6% in the week ended October 31. The Refinance Index sank 6%, while the Purchase Index ticked up 3% in the said period. According to the survey, the share of applicants seeking to refinance their existing loans dropped to 63%.
Heading over to average mortgage interest rates, government-sponsored mortgage-finance company, Freddie Mac reported last week that the average interest rate on the 30-year fixed mortgage rose to 4.02%. The average interest rate headed higher on the 15-year FRM as well, now it’s coming out at 3.21%, according to the Virginia-based mortgage-finance company’s latest survey.
For additional 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 see the financial institution’s website.