San Francisco-headquartered bank, Wells Fargo (NYSE: WFC) provides various types of home purchase and refinance loans for its clients.
San Francisco-headquartered bank, Wells Fargo (NYSE: WFC) provides various types of home purchase and refinance loans for its clients. Wells Fargo’s mortgage interest rates, updated for April 12, 2015, are discussed below. The interest rate quotes given are liable to change without prior notice and can vary when the loan is approved or the funds are disbursed. The annual percentage rate (APR) calculations were made using closing costs and discount points, assuming that the customer will conform to the loan conditions, which include lock-in periods.
The lender’s updated mortgage information revealed, that the 30-year fixed refinance loan is now quoted at a rate of 4.000% and it carries 4.022% by way of annual percentage rate. Looking at Wells Fargo’s shorter-term, 15-year fixed refinance mortgage, it’s available today at a rate of 3.125%, whilst the APR is coming out at 3.207%.
Heading over to government loans, the 30-year fixed FHA-insured mortgage is currently listed at a rate of 3.750% and an APR of 4.756% rounds out the package.
Apart from fixed mortgage loans, the lender also advertises loans, which come with flexible interest rate conditions. One of them is the 7/1 adjustable rate loan, which is published at a rate of 3.125% and it’s coupled with an APR figure of 3.103%. Another flexible option for home refinancing is the 5/1 ARM FHA, which can be secured at a rate of 3.250% and it has an APR sum of 3.533%.
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 3.875% and the loan features 3.904% by way of APR. A shorter-term alternative, the 15-year FRM, is available today at a rate of 3.125%, whilst the APR on this loan is set at 3.176%.
The bank also provides non-conforming home loans for those who are able to meet its credit standards. Presently, the 30-year fixed jumbo mortgage is coming out at a rate of 3.750%. This type of home purchase loan carries 3.752% by way of APR. The 7-year ARM, under the bank’s jumbo loan portfolio, has an asking rate of 3.125% and it comes with an APR of 3.064%.
For more information on Wells Fargo’s current mortgage interest rates, head over to the bank’s website or contact the loan officer in charge.
Freddie Mac, which is based in McLean, VA, reported on Thursday, that the interest rate on the 30-year fixed loan slipped to 3.66% from the previous 3.70%. Meanwhile, the average rate on the shorter-term 15-year fixed mortgage ticked down to 2.93% this week. A week earlier this type of mortgage loan averaged a rate of 2.98%, according to the firm.