Citigroup’s CitiMortgage is still offering low mortgage rates in March as many analysts have said that interest rates on home loans may be on the rise as summer nears. While there is no guarantee on mortgage rates, many homeowners that are buying or refinancing have been able to get a mortgage rate at or below 5%.
With the housing market is still seeing troubles, low mortgage interest rates have been hoped to be the factor that pushes more people into the housing market by making homes more affordable.
New homebuyers have been able to use the first-time homebuyer tax credit along with these low mortgage rates to get a home that is well within their financial means to afford. While current homeowners have used these low rates to refinance and have gotten lower mortgage payments as a result.
If you are a homeowner or first-time homebuyer, you may want to look at the options Citigroup, as well as other lenders, are offering for mortgage rates as you might be able to take advantage of a low mortgage rate and a low mortgage payment on your home.