Following some improvements in U.S. mortgage rates in the first half of the week, yesterday rates ticked up at a quick pace. Nevertheless, lenders’ rate sheets didn’t reflect the changes as of yet, which should be good news for those who are in the market for a favorable home purchase or refinance mortgage package.

On Wednesday, the Mortgage Bankers Association (MBA) released the results of its weekly mortgage survey. According to the MBA’s findings, the Market Composite Index, which measures both purchase and refinance mortgage activity, fell 4.3% on a seasonally adjusted basis in the week ended August 24. The decrease in total mortgage acitivity was mainly driven by the decline of the number of filed refinance applications in the aforementioned period.

The latest figures show that loan requests for home refinancing dropped 5.7%, while the Purchase Index gained 1.4% last week. This marks the fourth consecutive week that the number of refinance applications are falling, according to the MBA. In line with this, the refinance share of total mortgage activity fell to 79%, a slight drop from the previous 80% share.

This morning mortgage rates at Bank of America (NYSE:BAC) are looking very attractive, as they are close to record-low levels. Borrowers, who are looking to take out new debt to refinance their existing loans may consider the benchmark 30-year fixed rate mortgage, which is available today at a rate of 3.625% plus an APR of 3.762%. The 15-year fixed alternative is coming out at 2.750% and carries an annual percentage rate of 3.047%.

The initial interest rate on Bank of America’s 7/1 ARM stands at 2.625% this morning and bears an APR variable of 3.173%. Those who rather take their chances on the 5/1 ARM deal, will see a rate in the range of 2.250% which yields to an APR sum of 3.148%.

Fixed mortgages at TD Bank (NYSE:TD) remained unchanged on Wednesday, mirroring rates from earlier this week. The standard 30-year fixed refinance loan has an opening rate of 3.750% which is accompanied by an APR figure of 3.800%. Regarding the 15-year FRM, the current daily low is 2.990% which has an APR sum of 3.078%.

The rate on the 7/1 ARM remained identical to the one seen in the first part of the week, namely 2.875% plus an APR variable of 3.126%. We noticed some improvement as far as the 5/1 ARM package is concerned, as it starts now at 2.625% and features an annual percentage rate of 3.083%.

Heading over to Citibank (NYSE:C), interested borrowers can get this lender’s 30-year fixed rate loan locked in at a rate of 3.750% with an APR amounting to 3.903%. The shorter, 15-year version of this type of loan is up for grabs at a rate of 3.000% and bears an APR figure of 3.285% as of Thursday.

For more information on current mortgage rates, terms and conditions, please visit lenders’ websites.