The new week in mortgage rates has kicked off with Bank of America (NYSE:BAC) and Citibank (NYSE:C) largely neck-and-neck across both home purchase and refinance arms. A weekend of incredible value buying and refinancing opportunities has spilled over to this Monday morning, where those still looking to lock in the deal of a lifetime may still be able to find what they’re looking for.
Bank of America
30 year fixed rate home purchase loans at Bank of America are today coming out a 3.250% and APR of 3.448%, while the shorter 15 year variant can be locked in for as little as 2.750% and APR of 3.098%. The 7/1 ARM for home purchases is on offer at 2.750% to start and APR of 3.118% variable, while the 5/1 ARM can be taken home from 2.500% to begin and APR of 3.094% variable.
With regard to refinances, Bank of America is offering the 30 year fixed rate loan for 3.625% and APR of 3.845%, while the 15 year version is on the cards for 2.875% and APR of 3.210%. The 7/1 ARM for home purchase is being offered for 2.875% to start and APR of 3.203% variable, while the 5/1 ARM is coming out at 2.750% to start and 3.178% APR variable.
30 year fixed rate loans at Citi Mortgage (NYSE:C) have been published at 3.250% and APR of 3.404%. The shorter term 15 year loan deals are listed at 2.500% today carrying an APR of 2.827%.
The benchmark 30 year refinance fixed rate loans at Citi Mortgage have been quoted at 3.375% with an APR of 3.555%. The shorter term 15 year refi loan deals are listed at 2.875% today yielding an APR of 3.123%.