The Mortgage Roadmap

Leading Mortgage Lenders Quote 5% Rates

6th April, 2011 - Posted by admin - No Comments

CitiMortgage has joined the pack of leading mortgage lenders that offer 30 year fixed mortgage loans at a lending rate of 5 percent. Six months ago, the Mortgage Brokers Association predicted that lending rates would gradually increase over 2011 to be just above 5 percent by the end of the year. Mortgage lending rates have increased steadily since then. The mortgage lenders 30 year mortgages carry .875 in points and yields a 5.294 percent APR.

The 15 year fixed rate mortgage provided by CitiMortgage is 4.25 percent with .50 points and a 4.629 percent APR. Adjustable Rate Mortgages, ARM's are currently offered at 3.375 percent with 1.125 points and a 3.45 percent APR at the beginning of the loan contract.

• Looking to buy? Your mortgage loan might be smaller than ever
• Mortgage interest rates went up. Don't panic!
• Be honest with your finances before taking on a mortgage
• Mortgage giant Mozilo charged with fraud
• Do you trust the government to protect you from mortgage lenders?
• It's getting tougher to get a mortgage-broker license
• Mortgage companies falling down on loan-modification help
• Mortgage rates on the rise, again
• Home Mortgage Rates