American lender, Citi Mortgage (NYSE:C) updated its mortgage information for Wednesday, November 19, which is discussed below. Citi Mortgage provides attractive 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 loan options 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: 3.375%, 0.875 discount points, 3.647% 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 improved 4.9% in the week ended November 14. The Refinance Index rose 1%, while the Purchase Index soared 12% in the said period. According to the survey, the share of applicants seeking to refinance their existing loans dipped to 61%.
Shifting over to average mortgage interest rates, McLean, VA-based Freddie Mac reported last Thursday that the average interest rate on the 30-year fixed mortgage ticked down to 4.01%. The average interest rate headed lower on the 15-year FRM as well, now it stands at 3.20%, according to the Virginia-based mortgage-finance company’s weekly survey.
For further 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 look at the lender’s website.