It looked like there was a possibility of improved rates yesterday as financial markets were not sure which way they were going in the morning but by the end of the day the rally on Wall Street did nothing but solidify higher mortgage rates from the previous Friday.
The benchmark 30 year fixed rate mortgage interest rates at Wells Fargo (NYSE:WFC) are 3.625% today with an APR of 3.963%. The FHA 30 year loans are published at 3.375% at the bank with a rather higher APR of 4.060%. Shorter term 15 year loans at the bank are on the books at 2.750% and an APR of 3.239%.
The 5/1 ARM loans at Wells Fargo have been listed at 2.125% with a starting APR of 3.004%. 5/1 FHA ARM loans can be had for 2.250% carrying an APR of 2.579%.
30 year refinance fixed rate mortgages at Wells Fargo are being quoted at 3.625% and an APR of 3.799% today. The lower FHA 30 year refinance interest rates have been quoted at 3.625% at the bank carrying an APR of 4.686% today. 30 year refinance jumbo FRM interest rates at the bank are on the books at 4.000% today carrying an APR of 4.130%.
Large (in eligible areas) 30 year refinance fixed rate loans have been quoted at 3.750% carrying an APR of 3.878%.
Large (in eligible areas) 30 year FHA refinance fixed rate mortgage interest rates are being quoted at 3.750% yielding an APR of 4.775%.
The short term 15 year refi fixed rate mortgage interest rates at the bank stand at 2.875% and APR of 3.182%. The 5 year refinance ARM deals at Wells start at 2.375%. with a starting APR of 2.951%. refi FHA ARMs in the 5 year category stand at 2.250% yielding an APR of 2.900% to start. 5/1 refi Jumbo ARMs are being quoted at 2.750% yielding an APR of 3.036%. Large 30 year refi ARM loans have been published at 2.625% carrying an APR of 2.993%.