Wells Fargo Mortgage Rates Bulletin
Wells Fargo is one of the leading lenders in America today. The mortgage rates at Wells Fargo bank is very competitive and the consultants are very helpful to customers. They also have very low closing costs and this makes it very attractive to customers. However, there can be many hidden charges associated with Wells Fargo bank home loans and it is up to the customers to review these charges very closely.
The current Wells Fargo Bank mortgage rates are 5.318% APR for a 30-year fixed loan. It is 6.245% for a 30-year FHA fixed loan. FHA loan is a loan that is backed by the Federal Housing Administration and only customers who meet certain requirements laid down by the FHA will qualify for this loan. The Wells Fargo Mortgage rates are 4.7% for a 15-year fixed loan. It is 3.564% for a 5-year ARM loan and 3.401% for a 5-year ARM FHA loan. ARM is adjustable rate mortgage and in this kind of loan, the interest rate is adjusted from time to time based on a number of indices like Cost of Funds Index (COFI) and 1-year constant-maturity treasury (CMT) securities.
The larger loan amounts in certain metropolitan areas have different interest rates. It is 5.390% for a 30-year fixed loan, 5.924% for a 30-year fixed FHA and 3.652% for a 5-year ARM respectively. The Wells Fargo interest rates for jumbo loans are 5.895% for a 30-year fixed loan and 3.930% for a 5-year ARM loan. These competitive rates make it a big lender in the home loans market.
