Mortgage Rates Today: Wells Fargo Heading Back to Record Lows

September 30, 2011 / Russell Legato, Residential Property Analyst

Wells Fargo (NYSE:WFC) is today offering a number of highly competitive mortgage products, most of which are very similar to those of yesterday and perhaps even a little down in some cases. As national averages once again hover around record lows, there has never been a better time to secure a good deal for both purchases and refinances alike.

Mortgage Rates Today: Wells Fargo Heading Back to Record Lows

30 year fixed term mortgages are today being offered by Wells Fargo for 4.250% with a resulting APR of 4.433%, while the popular and highly sought after 15 year fixed term for purchases is at 3.250% which amounts to an APR of 2.565%.

The 5 year ARM for home purchases is today at a rate of 2.500% with an APR of 3.078%, while the FHA 5 year ARM is at 2.875% with an APR of 3.052%

30 year fixed rate contracts for larger loans in certain areas are today being offered for 4.250% with an attached APR of 4.382%.

While the week ending today has once again signaled that mortgage rates across the US have remained at their lowest levels since records began, this does not appear to have been enough to encourage enough new buyers to jump start the seriously distressed housing market.

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