Homeowners with Citigroup are seeing mortgage rates increase as many homeowners and homebuyers still look to take advantage of low mortgage rates. Rates on the common 30-year fixed rate mortgage have been around 4.75% but over the last week or so have risen to around or slightly above 5%.
However, a rate around 5% is still low for many homeowners and homebuyers, but may worry that rates are going to continue to rise. There is no certainty in these predictions that rates will increase but some homeowners are looking to refinance or buy a home with Citigroup and worry they are going to miss out on a low mortgage rate.
Some analysts believe rates will rise from their current lows, but it won’t be a drastic increase and should cause no concern for homeowners looking to get a lower mortgage payment as a result of a lower mortgage rate.
While mortgage rates did move up slightly, many analysts and financial advisors caution against hasty mortgage actions by homeowners and homebuyers. Anyone looking to refinance their Citigroup mortgage, or a mortgage from another lender for that matter, should make sure they are on a stable enough financial ground before the buy a home or refinance.