Mortgage Interest Rates of Wells Fargo (10/22/2013)

Mortgage Interest Rates of Wells Fargo 10-22-2013Wells Fargo, a bank whose headquarters are rooted in San Francisco, is counted as one of the major banks in the United States. Wells Fargo presents diverse financial as well as banking services that include home mortgage loans. Below are the latest mortgage interest rates available for October 22, 2013.

Considering that Wells Fargo’s best home refinancing rates are, the 30-year fixed rate is set at 4.375% in interest and 4.547% by way of APR. While for people  who are in thoughts of the 15-year fixed refinance loan that it fits the bill better, will need to pay 3.375% in interest, for which the corresponding APR figure stands at 3.669%.

Borrowers, who errand refinance mortgages that are offered with lesser down payments, can find this 30-year FHA package to be more suitable, since it’s listed this Monday at 4.125% and bears 5.640% by way of annual percentage rate.

Talking about the fixed rate mortgages, adjustable rate loans are more flexible in their conditions. The 5-year ARM mortgage refinance loans can be held at 3.000% and the contract facets of an APR of 3.076%. Regarding the 5-year ARM FHA plan of this loan, it is charging the interest of 3.250% and the APR which is variable of 3.902%.

Scanning through additional home refinance offers that apply to bigger amounts of loans, the 30-year fixed deal has a daily low at the interest rate of 4.375% and it includes an APR with interest of 4.503%. For bigger loan amounts, the Wells Fargo’s mortgage rates chart also has the 30-year fixed FHA option that can be utilized to refinance any of existing loans. This Monday, the aforesaid loan can be secured at the interest of 4.250% and also comes with 5.719% with the APR. Interested and the customers who are potential enough planning and in view of the 5/1 ARM with bigger loan amounts, can expect to pay 3.250% in interest and the APR erratic of 3.124%.

In addition to this, non-conforming loans, which also include the jumbo loans, are offered by this lender. Jumbo mortgages are such mortgage packages that have the loan amounts that surpass the conforming loan limits that include the 30-year jumbo FRM, which can be taken at 4.125% and features 4.237% through APR. The 5-year Jumbo loan ARM is presented at 2.375%.

Comparing it with other giant banks like Bank of America and Freddie Mac, the mortgage rates of Wells Fargo stand quite high as Bank of America has only 4.125% rate while Freddie Mac which saw an increase of 3 basis points still stands lower to Wells Fargo at 4.28%.

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.