Current Mortgage Rates from Wells Fargo Bank (10/24/2013)

Current Mortgage Rates from Wells Fargo BankAccording to the latest Well Fargo’s interest rates for its different mortgage plans, the 5/1 ARM has the rate of 3.000% with its APR as 3.076% whereas the 30-Year plan of the bank is offered at the rate of 4.250% and an APR of 4.421%. There is not much deviation recorded from yesterday’s rate of the same plans. The 15-Year fixed rate plan of the confirming genre of Well Fargo is holding the rate of 3.375% with an APR of 3.669%.

In the area of Federal Housing Authority (FHA), the bank is asking the rates of 3.875% for the 30-year fixed rate mortgage plan with an APR of 5.387%. In the same genre, 5-Year adjustable rate mortgage is offered at 3.250% with annual percentage rate of 3.902%.

In the special category of Well Fargo, that is, Larger Loan amount in Eligible area, the bank proposed the rate of 4.350% with 4,377% APR in 30-Year fixed rate plan. 30-Year FHA plan in this category can be taken at the rate of 4.125% with 5.593% APR. For 5-Year ARM plan, one has to pay the interest rate of 3.250% which constitute the APR of 3.124%.

The bank revised the rates in the fourth category, Jumbo Loans, as well. In this category, 30-Year fixed loans are offered at 4.000% with 4.112% as annual percentage rate whereas for 5-Year ARM loans, the bank is charging 2.250% interest rate with 2.765% APR.

Compared to the Bank of America, where rate for a 30-year fixed mortgage is 4.125% with an APR of 4.231%, Well Fargo rates are bit higher and landed up at 4.250% with 4.421% APR. Furthermore, where the Bank of America offers rate of 3.125%t for their 5/1 ARM and 3.060% as APR, Well Fargo rates are lowers and it charges 3.000% interest rate with 3.075% annual percentage rate.

Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.

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About the author

Rob is a analyst and reporter covering stocks and business news.