Mortgage Rates Today: Wells Fargo Slipping Away from Record Lows

September 28, 2011 / William Thomson, Green Homes Expert

Wells Fargo (NYSE:WFC) is today offering a wide selection of excellent and competitive mortgage rates which are fully in line with the other major US lenders, though it has to be said as is the case across the board, some seem to be inevitably leaving the record lows of last week behind. Nevertheless, there has still never been a better time to consider a deal to make full use of the savings while they are still around.

Mortgage Rates Today: Wells Fargo Slipping Away from Record Lows

30 year fixed term deals for home purchases are today being advertised at 4.250% which amounts to an APR of 4.433%, while the shorter 15 year fixed term loan is now at 3.250% with a resulting APR of 3.565% – the latter of the two being identical to yesterday.

Jumbo five year ARM agreements for purchase can be taken out with a starting rate of 2.875% with an APR of 3.162%, while the standard five year ARM is today at 2.625% with an APR of 3.075%.

Larger loans in eligible areas can be taken over 30 year fixed terms for 4.375% with a resulting APR of 4.508%, while the 30 year FHA term stands at 4.125% with an APR of 5.056%.

The US housing market seems to be continuing its incredibly unstable run as of late, though it may at last be approaching a time of steady gains. Not only are many mortgage products seeing increases across the board, but so are average home values which have recently seen their fourth consecutive monthly increase.

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