30 year fixed rate loans at Citi Mortgage (NYSE:C) have been quoted at 4.250 % yielding an APR of 4.458 %. Shorter term 15 year loan interest rates have been quoted at 3.375 % and APR of 3.712 % today.
What are the refinance mortgage rates?
The benchmark 30 year refinance fixed rate mortgages are available starting at 4.375 % at Citi Mortgage yielding an APR of 4.546 % today. The short term 15 year refi loans at the bank have been offered at 3.500 % carrying an APR of 3.736 % today.
Stock and Mortgage Update
Quotations of mortgage rates are usually driven by mortgage backed security prices that are in concert with stock market movements. Securities went down today with the DJIA at 15,337.70 a decrease of -113.35.
As expected Citi Mortgage blindly followed the markets. On the topic of stocks, the banks stock price improved to 50.92 up +0.06.