Wells Fargo (NYSE: WFC), which is one of the leading mortgage lenders in the U.S., has updated its mortgage rate information for Tuesday.
Wells Fargo (NYSE: WFC), which is one of the leading mortgage lenders in the U.S., has updated its mortgage rate information for Tuesday. Bear in mind that these mortgage interest rates are subject to change without prior notice from the lender and may vary upon loan approval or disbursement. The San Francisco-headquartered lender’s updated mortgage interest rates, valid for March 17, 2015, are discussed below.
Borrowers seeking a favorable home refinance loan, may be interested to learn that Wells Fargo advertises the benchmark 30-year fixed loan today at a rate of 4.125%. The loan is coupled with an APR of 4.147%. The bank’s shorter term, 15-year fixed refinance loan may be a suitable alternative for some borrowers, as it can be locked in at a rate of 3.375% and it has an APR sum of 3.476%.
Borrowers, who favor refinance loans that come with lower down payment conditions, may find the 30-year FHA-insured loan package a more suitable choice, as it’s coming out at a rate of 3.875% and it has 4.894% by way of APR.
On the other hand, adjustable rate mortgages (ARMs) could be ideal alternatives for those who need more interest rate flexibility. At Wells Fargo, the 7/1 ARM is on the books at a rate of 3.375% and it holds an APR variable of 3.219%. Individuals, who opt for the 5-year ARM FHA loan, will encounter a rate of 3.500% and an APR sum of 3.627%.
Turning focus to Wells Fargo’s current home loan options, the standard 30-year fixed conventional mortgage is coming out on Tuesday at a rate of 4.000%. The mortgage loan carries 4.030% by way of annual percentage rate, the latest mortgage information revealed. Wells Fargo’s shorter, 15-year fixed home purchase loan has a lending rate of 3.375% and the loan is accompanied by an APR variable of 3.445%.
Besides the above mentioned conventional loans, Wells Fargo provides such mortgages as well, which carry amounts that exceed conforming loan limits. One of these loans is the 30-year fixed jumbo mortgage, which can be secured at a rate of 3.875%. The corresponding annual percentage rate is coming out at 3.875%. Another option is the 7-year ARM jumbo loan, which has a lending rate of 3.125% and comes with 3.073% by way of APR, according to Wells Fargo’s data.
More information on Wells Fargo’s current mortgage interest rates, as well as details on borrowing terms and conditions, can be found on the financial institution’s website. Potential borrowers can also contact the loan officer in charge for additional information on the latest mortgage rates.
Freddie Mac, which is based in McLean, VA, said last Thursday, that the interest rate on the 30-year fixed loan moved up to 3.86% from the previous 3.75%. Meanwhile, the interest rate on the shorter-term 15-year fixed loan drifted higher to 3.10% last week. Previously this type of mortgage loan averaged a rate of 3.03%, according to the organization.