After a general improvement in the stock market last week and potential easing of the Fed’s easing plan this year, mortgage rates moved higher.
The benchmark 30 year FRMs are on the books at 3.500% at Wells Fargo (NYSE:WFC) and APR of 3.834%. The FHA options for the 30 year mortgages are coming out at 3.250% carrying an APR of 3.930%. The shorter term, popular 15 year loans are coming out at 2.625% and APR of 3.109% today.
5/1 Adjustable Rate Mortgages at Wells Fargo stand at 2.000% yielding an APR of 2.959% at present. 5 year FHA ARM interest rates have been published at 2.250% with a starting APR of 2.579%.
The benchmark 30 year refinance loans at Wells Fargo are available starting at 3.625% yielding an APR of 3.799% today. The best 30 year refinance FHA fixed rate mortgage interest rates are 3.375% at the bank yielding an APR of 4.410%. 30 year refinance jumbo fixed rate mortgages have been offered at 3.875% today and an APR of 4.004%.
Large (in eligible areas) 30 year refinance loan interest rates have been listed at 3.750% yielding an APR of 3.878%.
Large (in eligible areas) 30 year FHA refinance FRMs are being quoted at 3.500% and APR of 4.499%.
The shorter term 15 year refinance fixed rate mortgage interest rates have been quoted at 2.875% today yielding an APR of 3.182%. The 5 year refi ARMs have been published at 2.250% at Wells Fargo. with a starting APR of 2.908%. 5 year refi FHA ARM loans have been offered at 2.250% with an APR of 2.900% to start. The 5 year refi Jumbo ARM loans start at 2.625% with a starting APR of 2.993%. Large 30 year refi ARMs are 2.500% carrying an APR of 2.950%.