Skip to content
Digital News Report Logo
Menu
  • News
  • Business
  • Science
  • Entertainment
  • Health
  • Sports
  • Audio Books
  • Quizzes
  • Videos
Menu

Home » Business » Refinance Mortgage Rates

Refinance Mortgage Rates

By Tina Brown on February 1, 2011
alt text

Digital News Report – Refinance rates were higher today, jumping an average of three points to 5.0121% (see chart). Chase, Bank of America, Citibank and PNC all raised their refinancing rates.

Refinance rates may be different from purchase loan rates. Typically they are higher while homeowners are looking for lower payments or a way to consolidate high-interest debt into a low interest mortgage.

Citibank had a rate of 5.21% on their 30-year fixed rate mortgages (FRM). The bank also offers 15-year FRM and 5-year adjustable rate mortgages (ARM). Those rates were 4.70% and 3.41% respectively.

PNC offered their 30-year loans for 5.40%. The 15-year financing was set at 4.93%.

Bank of America was offering their 30-year mortgages for 4.984%. Their 5-year adjustable rates were 3.172%.

Chase Bank had a rate of 4.93%. The bank had a rate of 4.25% on their 15-year term mortgages and 3.20% on their 5-year ARMS.

All of the banks in our survey raised their rates today. The final percentage rate will depend on several factors including the down payment, the credit score of the borrower and the location of the home.

By Tina Brown

REFINANCE RATES
2/1/2011 Citi Bank PNC Bank of America Chase Bank
30-Year Fixed 5.21% 5.40% 4.984 4.93%
15-Year Fixed 4.70% 4.93% NA 4.25%
5-Year Adjustable 3.41% NA 3.172 3.20%

  1. Refinance Mortgage Rates Today
  2. Refinance Mortgage Rates Today
  3. Refinancing Mortgage Rates
  4. Refinance Mortgage Rates Today
  5. Refinance Mortgage Rates Today – Bank of America and Citibank change direction

Live Results Search

Categories

Important Information

This site is for informational purposes only.  Always check with your doctor or  legal council before making any medical or legal decisions.

loader-image
San Francisco, US
4:27 am, May 19, 2025
temperature icon 54°F
clear sky
Humidity 81 %
Pressure 1018 mb
Wind 14 mph
Wind Gust: 0 mph
Visibility: 10 km
Sunrise: 5:56 am
Sunset: 8:16 pm
Weather from OpenWeatherMap

 

©2025 Digital News Report | Design: Newspaperly WordPress Theme