Wells Fargo (NYSE: WFC), which is headquartered in San Francisco, is one of the biggest bank holding companies in the United States.
Wells Fargo (NYSE: WFC), which is headquartered in San Francisco, is one of the biggest bank holding companies in the United States. Wells Fargo offers diverse financial and banking services, including home mortgage loans. In this mortgage report we are going to disclose the latest mortgage interest rates for Wells Fargo’s loan packages. Bear in mind that these mortgage interest rates are subject to change without prior notice from the bank and may vary upon loan approval or disbursement. The bank’s latest mortgage rates, updated for January 15, 2015, are listed below.
At this major U.S. mortgage lender, the 30-year home refinance loan is currently listed at a rate of 3.750%. The annual percentage rate, which represents the interest, mortgage insurance and other costs of the loan at a yearly rate, is set at 3.787%. The 15-year fixed mortgage loan is quoted at a rate of 3.125%, whilst the APR is coming out at 3.209%, according to the latest data.
The FHA-insured version of the 30-year fixed home refinance loan is quoted at a rate of 3.750% and an APR variable of 5.276% rounds out the package.
Adjustable rate mortgages (ARMs) could be suitable alternatives for borrowers who need more flexibility in terms of interest rates. Currently, the 7/1 ARM is advertised at a rate of 3.000% and it carries an APR variable of 2.988%. The lender is offering the 7/1 ARM FHA mortgage at a rate of 3.125% and the loan bears an APR figure of 3.996%.
Wells Fargo’s mortgage loan portfolio also includes home purchase loans. Currently, the 30-year fixed conventional home mortgage is quoted at a rate of 3.625% and the loan features 3.685% by way of APR. A shorter-term alternative, the 15-year FRM, is available on Thursday at a rate of 3.125%, whilst the APR on this loan is set at 3.178%.
Additional home purchase loan offerings include non-conforming mortgages. The 30-year fixed jumbo loan is on the books at a rate of 3.750% and it has an APR figure of 3.766%. Another possible mortgage solution is the 7-year ARM under Wells Fargo’s non-conforming loan portfolio. This type of mortgage starts at a rate of 3.000%, whilst the corresponding APR is set at 2.935%, the lender’s latest mortgage information showed.
Take a visit to Wells Fargo’s website for updated loan information or contact the loan officer in charge for additional details on current mortgage interest rates.
Virginia-based housing finance company, Freddie Mac announced on Thursday, that the interest rate on the 30-year fixed loan decreased to 3.66% from the previous 3.73%. On the other hand, the average rate on the shorter-term 15-year fixed mortgage fell to 2.98% last week. Previously this type of mortgage loan averaged a rate of 3.05%, according to Freddie Mac.