After a week of unpredictable fluctuations in both directions, both Citibank (NYSE:BC) and Bank of America (NYSE:BAC) are rounding things off this Friday with superbly strong catalogues of home purchase and refinance packages.
Bank of America
Home purchase mortgage rates first and Bank of America is ending the week with the 30 year fixed rate home loan at 3.250% and APR of 3.417%, while the 15 year variant has come to land at 2.875% and APR of 3.200%.
For those looking to see the way the market pans out with adjustable rate loans, the standard 7/1 ARM for home purchase is up for grabs at 2.875% to begin and APR of 3.177% variable, while the 5/1 ARM can be taken home starting from 2.625% and with an APR of 3.119% variable.
Looking at home refinance mortgage rate now and Bank of America is this Friday offering the 30 year fixed rate loan from as little as 3.750% with an APR of 3.932%, while the 15 year alternative can be taken out and locked in for just 3.000% and APR of 3.321%.
If looking to refinance a home with an adjustable mortgage rate, the 7/1 ARM is now coming out at 3.125% to start and with an APR of 3.322% variable, while the 5/1 ARM is up for grabs from 2.750% and with an APR of 3.200% variable.
Standard 30 year FRMs are 3.250% at Citi Mortgage (NYSE:C) with an APR of 3.444%. The short term 15 year FRMs are published at 2.625% carrying an APR of 2.899%.
The benchmark 30 year refinance fixed rate loans at Citibank have been quoted at 3.500% and APR of 3.661% today. 15 year refinance loan interest rates stand at 2.875% and APR of 3.159% today.