Wells Fargo Among Many Major Lenders Offering Strong Mortgage Rates Today

October 31, 2011 / Russell Legato, Residential Property Analyst

As is the case with the majority of all major lenders across the US today, Wells Fargo (NYSE:WFC) has once again defied the odds to begin what could be another strong week, with minor fluctuations last week leveling out to actually end in minor week on week decreases. Indeed, while the home purchase packages on offer this Monday morning may be somewhat far from the generation lows seen a few weeks ago, they are still in fact some of the very lowest seen in many years and really must be taken advantage of.

Wells Fargo Among Many Major Lenders Offering Strong Mortgage Rates Today

First calling attention to some of the most popular fixed rate packages from Wells Fargo today, 30 year fixed rate deals are being advertised for a rate of 4.375% and APR amounting to 4.559%, while the alternative of the 15 year deal can be locked in for today’s rate of 3.625% and APR of 3.943%.

Ever-popular Jumbo 30 year fixed rate loans can be locked in at a rate of 4.750% and APR amounting to 4.886%, while larger loan amount in eligible areas are available to be taken home for 4.375% and APR of 4.508%.

Moving now on to some of the better adjustable term loans being advertised today, Monday sees the standard 5/1 ARM agreement now beginning at 2.500% and APR of 3.078% variable, while the FHA 5/1 ARM is continuing to offer an excellent choice for all who qualify, with a rate of 3.000%, yielding and APR of 3.113%.

As the above figures clearly display, the time during which to secure a truly excellent deal has by no means passed entirely, though with rates having really nowhere to go in the future other than up, it is once again being reminded that  borrower procrastination may not be without its consequence.

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