While mortgage rates today at Bank of America (NYSE:BAC) may be among some of the lowest the lender has ever offered, Citibank (NYSE:C) continues to dominate with truly record-breaking lows on some of the most popular home purchase and refinance packages. Exactly how long the current rally of value will continue however remains open to debate.
Bank of America
The best 30 year fixed rate loan interest rates at Bank of America (NYSE:BAC) start at 3.250% today and an APR of 3.464%. The short term, popular 15 year fixed rate loan interest rates at the bank are available starting at 2.875% and an APR of 3.170% today.
In the ARM arena, 5 year deals are being quoted at 2.500% at Bank of America showing an APR of 3.090%. The 7/1 ARM deals have been listed at 2.750% today yielding an APR of 3.114% to start.
30 year refinance loan interest rates are being quoted at 3.750% at Bank of America carrying an APR of 3.945%. 15 year refi fixed rate mortgages are published at 3.000% at the bank carrying an APR of 3.327%.
ARM interest rates in the 5 year refi category are on the books at 2.750% at Bank of America. yielding an APR of 3.184% to start. The 7 year refinance ARM deals are on the books at 2.875% today with an APR of 3.209%.
Standard 30 year FRMs have been listed at 3.125% at Citi Mortgage (NYSE:C) with an APR of 3.338%. The shorter term 15 year FRM interest rates stand at 2.500% at the bank and an APR of 2.827% today.
The best 30 year refinance FRMs are being offered for 3.375% at Citibank yielding an APR of 3.545%. Shorter term 15 year refinance loans can be had for 2.875% today with an APR of 3.123%.