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Digital News Report – Refinance mortgage rates were higher this week compared to last week (see chart).
Over the last seven days the 30-year refinance rate increased 12 basis points to 4.4322%. 15-year and 5-year adjustable mortgage refi rates were also higher.
Refinance rates may be different than purchase loan rates. Some banks and lending institutions will differ in interest rates.
Citibank had a rate of 4.68% on their 30-year fixed rate mortgage. Their 15-year loans were 4.28 percent and the adjustable rate mortgage (ARM) had a rate of 3.37%.
PNC had a refinancing rate of 4.12% today. The bank also had 15-year loans for 3.82%.
Bank of America mortgage rates were higher today. The bank had a 30-year refinancing rate of 4.654%.
Chase Bank had a 30-year refinance rate of 4.46%. Their 15-year FRM was 3.90% and their 5/1 adjustable rate loan was 3.12%.
By: Tina Brown
| REFINANCE RATES | ||||
| 10/15/2010 | Citi Bank | PNC | Bank of America | Chase Bank |
| 30-Year Fixed | 4.68% | 4.12% | 4.654 | 4.46% |
| 15-Year Fixed | 4.28% | 3.82% | NA | 3.90% |
| 5-Year Adjustable | 3.37% | NA | 3.213 | 3.12% |