Mortgage rates at CitiMortgage (NYSE:C) are holding their own at sub 5.00% levels going into the weekend.
30 year fixed mortgage rates at the bank are 4.875% today with .875 points and a 5.167% APR.
15 year fixed loans are 4.125% with 1.00 point yielding a 4.656% APR. 5 year adjustable rate mortgages ARM’s are 3.25% with 1.125% points and a starting APR of 3.406%.
The rates for mortgage refinance are the same as those quoted above for home purchases. Points and fees may be different for refinance mortgages yielding differing APR’s.
The rates quoted above assume high credit scores, LTV ratios of 80% or more meaning that the loan can’t exceed more than 80% of the current appraised value of the house, a owner occupied and owned single family home, with the property located in California. Rates vary by state and location within state. Interest rate variations across states are typically limited.
Often the payments for home insurance and taxes can be rolled into a monthly mortgage payment so that the home owners doesn’t have to be bothered with paying for those items separately. Mortgage lenders can put those bills together and help the borrower getting a big separate bill once or twice per year.