Midweek Mortgage Rates: Wells Fargo Home Purchase Packages for Thursday

November 03, 2011 / Russell Legato, Residential Property Analyst

For borrowers looking into the idea of new or used home purchase in the current climate, Wells Fargo (NYSE:WFC) is among many major US lenders which is once again today offering some quite superb mortgage packages, which despite estimates to the contrary, have actually in some cases decreased from those of last week.

Midweek Mortgage Rates: Wells Fargo Home Purchase Packages for Thursday

With regard to perhaps the most popular home purchase packages of all being offered by Wells Fargo today, the standard 30 year fixed term purchase mortgage is now at 4.125% and APR of 4.307%, while the equally popular 15 year fixed mortgage is now at 3.375% and an APR amounting to 3.691%.

Jumbo 30 year fixed term loans are being offered for 4.625% and an APR amounting to 4.760%, while certain larger loan amount in eligible areas can be taken home for 4.375% and APR of 4.508%.

In the case of the adjustable rate packages available from Wells Fargo today, popular options include the 5/1 ARM at a rate of 2.500% and APR of 3.160% variable, while FHA 5/1 ARM deals are now starting at 3.000% and APR of 3.113% variable.

Needless to say, when combine with some of the lowest house prices across the US in a long time, the above rates could add up to some serious bargains. However, whether or not this proves enough to significant increase new mortgage activity is one again open to debate to say the least. Midweek Mortgage Rates: Wells Fargo Home Purchase Packages for Thursday

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