Citibank and Chase Bank Increase Mortgage Interest Rates Today june 29 2011

Citibank and Chase Bank Increase Mortgage Interest Rates Today june 29 2011 ; Interest rates for mortgage loans increased across the country today as the stock market became more hopeful. CitiMortgage (NYSE: C) quotes 4.625% for a 30 year fixed-rate home purchase loan today. The loan carries an APR of 4.89%. Rival Chase Bank (NYSE: JPM) is offering the 30 year fixed-rate loan at 4.75% with an APR of 4.826%.

15 year fixed-rate loans at Chase Bank are 3.75% with a 3.933% APR. 15 year loans at Citibank are 3.75% with a 4.161% APR.

Chase is offering five-year ARMs at 3.25% and seven-year ARMs at 3.625% today for home purchases.

Refinance mortgage rates at chase bank were also little bit higher with 30 year fixed refi is at 4.75%. 15 year fixed refi is are 3.75%, seven-year refi ARMs are 3.50% and five-year refi ARMs are 3.125%.

Overall mortgage rates are still at historical lows as home prices in the United States continue their fall. Average home prices across the nation are 4% lower than they were April one year ago. As the economy remains shaky and job growth uncertain few analysts are predicting a rebound in home prices anytime soon. Mortgage rates will continue to track somewhat with other financial markets and will continue to be at the mercy economic conditions. For the latest updates PRESS CTR + D or visit Stock Market news Today

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