Mortgage Rates Today: Citibank Continues to Offer Competitive Products

October 05, 2011 / Russell Legato, Residential Property Analyst

A series of wild fluctuations in the stock market could have sent mortgage rates pretty much anywhere yesterday, though the result was nothing more than a fractional rise in the national average. As such, Citibank (NYSE:C) is among many lenders across the US continuing to offer excellent products and packages, many of which are around the lowest levels seen in quite some time.

Mortgage Rates Today: Citibank Continues to Offer Competitive Products

For those looking to Citibank to lock in a great deal for a new or used home purchase, 30 year fixed term mortgages can today be taken out for 4.000% with an APR of 4.277%, while the 15 year fixed term deal that always proves equally popular is now at 3.250% and an APR of 3.844% – neither of which have moved very much at all from yesterday.

With regard to the options available for those looking to refinance today, the 30 year fixed term deal is being advertised for 4.000% which amounts to an APR of 4.277%, while the shorter 15 year term to clear balances quicker is being advertised for 3.250% and a resulting APR of 3.844%.

While the fractional increase in the national average is unlikely to cause much of a panic, it nonetheless serves as a good reminder that nothing is certain in the current state of the market and those looking to lock in great deals to not have forever to finally make their move.

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