Citibank (NYSE:C) like the other major lenders of the US has been offering something of a mixed bag of deals this week across popular mortgage packages, though it has to be said that the averages have evened out quite nicely to end the week with some great value terms. While those on offer today may not be the very best seen over recent weeks , they are still of excellent value and hold the potential to save millions of borrowers huge sums of money.
With regard to the weekend deals for purchases of new and used homes, Citibank is offering the standard 30 year fixed term contract for 4.125% with a resulting APR of 4.426%, while the always popular 15 year alternative is now as a level of 3.500% with an APR figure of 3.984%.
Those who stand to benefit most from the low rates of late could well prove to be those who lock in a refinancing deal and cut their current terms enormously. In the case of Citibank, borrowers are able to do this with the 30 year fixed term loan which is today at a rate of 4.125% and an APR of 4.426%, while the 15 year alternative can be taken out for 3.500% with a 3.984% APR.
Competitive deals have been available all week though seem to have done little to persuade potential borrowers to commit to a new deal. Needless to say, what the next week will bring remains anybody’s guess, but at this stage in the game it is becoming increasingly difficult to hold out much optimism for the market.