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Digital News Report – Refinance rates were mixed this week with PNC reducing their rate and Bank of America and Citi Financial raising their rates (see chart).
Refinance rates may vary from purchase loan rates. The mortgage trends have been lower over the past few months but last week they were trending higher. Loan interest rates are still at historically low levels.
CitiBank Rates
Citibank had a 30-year fixed refinance rate of 4.66%. The bank is also offering a 15-year fixed rate mortgage (FRM) to 4.33%. The 5-year adjustable refinancing rate was 3.39%.
Bank of America Mortgage Rates
Bank of America had a refinance rate of 4.525% this week. Their 5-year rate was 3.218%.
Chase Mortgage Rates
Chase Bank had a rate of 4.36% today. The bank was also offering their 15-year refi mortgages at 3.90%. Their adjustable rate was 3.12%.
PNC
PNC had a refi-rate of 4.01%. The Pittsburgh based bank was also offering 15-year refis at 3.61%.
By: Tina Brown
| REFINANCE RATES | ||||
| 10/22/2010 | Citi Bank | PNC | Bank of America | Chase Bank |
| 30-Year Fixed | 4.66% | 4.01% | 4.525 | 4.36% |
| 15-Year Fixed | 4.33% | 3.61% | NA | 3.90% |
| 5-Year Adjustable | 3.39% | NA | 3.218 | 3.12% |