Wells Fargo (NYSE: WFC) has held a steady course keeping mortgage interest rates for home purchases at 4.25% for the 30 year fixed-rate loan for the past several weeks. The loan has one origination point and an APR of 4.433%. This interest rate is right in the middle of the pack with competitor Bank of America (NYSE: BAC) at 4.125%, and CitiMortgage (NYSE:C) at 4.25% for the loan.
30 year fixed FHA loans at Wells are 3.875% today up 1/8 point from yesterday. The loans yield an APR of 4.839%. Jumbo 30 year fixed-rate loans are 4.50% with an APR of 4.634%.
15 year fixed-rate loans for home purchase are 3.25% today with an APR of 3.565%. This is on par with Bank of America’s quote and a bit better than CitiMortgage’s 3.375%.
Five-year ARMs start at 2.375% and five-year FHA ARMs start at 2.75%. Five-year ARMs for larger loan amounts are 2.625%. Jumbo five-year ARMs are 2.875%.
More information including online mortgage quotes and details about FHA and VA lending programs may be found at www.WellsFargo.com.