Mortgage Rates Today: Wells Fargo Home Purchase Rates Display Little Movement

October 21, 2011 / Russell Legato, Residential Property Analyst

Borrowing costs across the US are once again hovering around some of the lowest levels seen in decades today, with Wells Fargo (NYSE:WFC) among many offering outstanding home purchase deals for both new and used properties.

Mortgage Rates Today: Wells Fargo Home Purchase Rates Display Little Movement

In the case of the most popular home purchase packages up for grabs this Friday, the standard 30 year fixed term contract can be locked in at a rate of 4.250% and an APR figure of 4.433%, while the equally highly prized 15 year fixed deal is being advertised for 3.500% and an APR sum of 3.817%.

30 year fixed rate terms for larger loans in eligible areas are being advertised today for 4.375% and an APR of 4.508%, while 30 year fixed rate Jumbo loans can be taken out for 4.750% and 4.886% APR.

Among many excellent flexible terms, the always popular 5/1 ARM today has a starting rate of 2.625% and an APR of 3.122%.

Despite incredibly low borrowing costs for several weeks now and some of the lowest property prices seen in years, purchase mortgage application activity has once again seen a truly disappointing week across the board.

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