Late Week Mortgage Rates: Further Decreases Noted at Citibank
While would-be buyers and indeed refinancers have been warned for quite some time now to act fast before the excellent mortgage rates once and for all, Citibank (NYSE:C) is once again reminding us this Friday morning that the market is anything but predictable as of late. Rather than increasing as widely expected, mortgage rates for both home purchase and refinance purposes have once again remained incredibly low and in some cases even bettered those of last week.
First looking at the options available for home purchase, Citibank is offering excellent value with the 30 year fixed rate deal which is now at 4.000% and APR of 4.299%, while the equally popular 15 year deal for purchases can be locked in at a rate of 3.250%, yielding a resulting APR of 3.768%.
Of course, refinance loans are no exception to the current run of staggering value, with the 30 year standard fixed rate package now being offered for 4.000% and an APR amounting to 4.299%, while 15 year terms allow balances to be cleared at a fixed rate of 3.250% and APR of 3.768%.
With the way in which the mortgage rates across the board have been behaving this week there really is no telling how far down the could go, with many already suggesting that recently set records are certainly not unbreakable if the run continues.
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