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Digital News Report – Refinance rates were higher today (see chart). Bank of America, Chase, Citibank and PNC all make changes.
The average 30-year fixed mortgage refinance rate was two basis points higher to 4.9575% compared to last week. Refinance rate may differ from purchase mortgage rates.
Citibank had a 30-year fixed rate mortgage (FRM) for 5.24%. Their 15-year FRM was 4.73% and their 5-year adjustable rate mortgage (ARM) was 3.46%.
PNC had rates starting at 4.90%. Their 15-year rate was 4.33%.
Bank of America had a rate of 5.063%. Their 5-year ARM rates were 3.324%.
Chase Bank had a 30-year fixed mortgage rate of 4.96%. Their 15-year FRM was 4.17% and their 5/1 ARM rate was 3.20%.
By Tina Brown
| REFINANCE RATES | ||||
| 3/31/2011 | Citibank | PNC | Bank of America | Chase Bank |
| 30-Year Fixed | 5.24% | 4.90% | 5.063 | 4.96% |
| 15-Year Fixed | 4.73% | 4.33% | NA | 4.17% |
| 5-Year Adjustable | 3.46% | NA | 3.324 | 3.20% |