Mortgage Rates Today: Wells Fargo Rates a Mixed Bag Though Excellent Value

October 05, 2011 / Russell Legato, Residential Property Analyst

Wells Fargo (NYSE:WFC) has on offer a range of attractive mortgage deals and packages today, most of which are on or slightly above the national average following something of a minor rise from that recorded across the US yesterday.

Mortgage Rates Today: Wells Fargo Rates a Mixed Bag Though Excellent Value

For borrowers looking to lock in a great deal at the current rates, 30 year fixed terms for purchase are today being offered for 4.125% with an APR of 4.307%, while the popular 15 year term for purchase now rests at 3.250% and an APR of 3.565% – which is pretty much identical to the rest of the major US lenders

The 5 year ARM term for purchase is being offered at a starting rate of 2.500% with an APR of 3.078%, while the FHA 5 year ARM can be taken out for 3.000% which amounts to an APR of 3.113%.

Jumbo loans are now being offered over 30 year fixed terms for 4.625% with an APR of 4.760%, while the 5 year ARM for jumbo loans is at 3.000% with an APR of 3.205%.

As the above figures show, there is still abundant opportunity to lock in an excellent deal for new and used home purchases across the US, though with the national average having seen a fractional rise, there is no telling exactly how long the excellent rates will be around for.

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