Wells Fargo (NYSE:WFC) is today in line with the other major lenders of the US, offering mortgage deals that have remained on some of the lowest levels seen in decades. Minor fluctuations aside, there has never been a better time to consider a purchase or refinance in order to save a small fortune.
Those looking into the options available for home purchases can expect to be offered 30 year fixed term deals with an interest rate of 4.000% which amounts to an APR of 4.180%, while those looking more toward the 15 year fixed deal can take theirs with an interest rate of 3.250% and a resulting APR of 3.565%. 30 year jumbo loans for purchase are today being offered at 4.500% with an APR of 4.634%, while 5 year ARMs are today beginning at 2.500% with an APR of 3.087%.
With regard to refinance options, Wells Fargo are continuing to offer a range of once in a lifetime deals, including the opportunity to take out 30 year fixed refinance terms at an interest rate of 4.125% with an APR of 4.509%. Those looking to decrease the overall term of their loan and choose the 15 year fixed option can do so today with an interest rate of 3.250% and a resulting APR of 3.766%.
All in all, there has truly never been a better time for American homeowners and potential to buyers to save a small fortune, though many have found themselves all but out of the running due to increasingly stringent acceptance criteria.