Current Mortgage Interest Rates Decline

Current Mortgage Interest Rates Decline: Citigroup Inc. (NYSE:C)’s Stock Falls On $525,000 Settlement Charges

On September 24, 2012

Current mortgage interest rates were down Monday as money continued to flow into the government safe-havens. JPMorgan Chase & Co. (NYSE:JPM), BofA, PNC Financial Services (NYSE:PNC), and other banks acted in response to the shift in capital markets by reducing their conventional lending rates.

The average interest rate on 30-year fixed-rate mortgages moved down two basis points to settle at 3.494 percent. The gap between the 10-year bond yield and the 30-year loan rate increased one basis point to 1.724 percent. The average rate on FHA-backed 30-year fixed-rate mortgages lost two basis points to settle at 3.916 percent and the average VA lending rate dropped three basis points to 3.723 percent.

Citigroup Inc. (NYSE:C) edged down on Friday on payment of $525000 in settlement charges over CFTC Wheat speculation claims. Over the last 12 months, a return on equity of 5.77 percent was realized due to the financial situation and earnings per share reached a value of $3.45. Last fiscal year, $0.04 has been paid in form of dividends to investors. Earnings are projected to move up 9.20 percent for the coming five years. The stock closed at $33.67, down -0.14 points or -0.41% from previous close and at a distance of 6.36% from 20-day simple moving average.

Wells Fargo & Company (NYSE:WFC) faced a slight fall even after winning a court approval of its agreement to pay $125 million and provide a $50 million assistance fund to settle U.S. allegations that it showed favoritism against 34,000 minority borrowers from 2004 through 2009.

In the last trading session, the stock’s price moved 34.37% above their 200 day moving average, changing hands as low as $34.80 per share. The stock is currently trading 2.65% down their SMA 50. The worst hit in its 52 weeks range is $22.61 per share, with $36.60 being the 52 weeks best price, which compares with a latest closing price of $34.97. The Beta of this stock is 1.30.

Despite new high, Regions Financial Corporation (NYSE:RF) closed down on Friday. The firm has a market value of $10.63 billion. It employs 26,813 people, over the last 12 months has generated revenue of $4.08 billion and has a net income of $417.00 million. The firm’s operating margin is 16.49 percent and net profit margin 12.00 percent. The latest closing price of its shares moved up 7.17% from the 50-day moving average.

Morgan Stanley (NYSE:MS) declined after a report that CEO is trying to speed up Smith Barney purchase. Shares of this bank traded down -0.76% during trading Friday, hitting $17.50. The stock has a 52 weeks low of $11.58 and a 52 weeks high of $21.19. The company has a market cap of $33.74 billion and a P/E ratio of 13.89. The P/S ratio is 0.95 and P/B ratio 0.54. Dividend yield stands at 1.17 percent. The beta value is 1.62. Morgan Stanley’s RSI amounts to 63.25.