The sad irony is that when there are signs the economy is improving then mortgage rates move up, working against those home buyers who may have just got a job and now want to buy a house.
The benchmark 30 year fixed rate mortgage interest rates at Wells Fargo (NYSE:WFC) are coming out at 3.625% and an APR of 3.963%. 30 year FHA fixed rate loan interest rates are coming out at 3.250% yielding an APR of 3.930%. Shorter term, popular 15 year fixed rate mortgage interest rates at the bank are listed at 2.750% and an APR of 3.239%.
The 5/1 ARM interest rates at Wells Fargo are 2.125% and the APR is 3.004% on initial purchase. FHA ARMs in the 5 year category have been quoted at 2.250% with an APR of 2.579%.
The best 30 year refinance loan interest rates at Wells Fargo start at 3.625% yielding an APR of 3.799%. The lower FHA 30 year refinance loans at the bank are on the books at 3.625% and APR of 4.686% today. The jumbo version of the 30 year refinance loans are published at 4.000% yielding an APR of 4.130% today.
Large (in eligible areas) 30 year refinance loan deals are on the books at 3.750% carrying an APR of 3.878%.
Large (in eligible areas) 30 year FHA refinance FRMs are being quoted at 3.750% yielding an APR of 4.775%.
15 year refinance loan deals at the bank can be had for 2.875% with an APR of 3.182% today. The 5 year refinance ARM deals start at 2.375% at Wells Fargo. with a starting APR of 2.951%. As far as refi FHA ARMs go, 5 year loans have been offered at 2.250% with a starting APR of 2.900%. In the refi Jumbo ARM arena, 5 year deals are listed at 2.750% with an APR of 3.036%. Large 30 year refinance ARMs are 2.625% and APR of 2.993%.