Wells Fargo Refinance Mortgage Rates Still Offering Potentially Huge Savings

October 24, 2011 / Russell Legato, Residential Property Analyst

As is the case across much of the industry today, Wells Fargo (NYSE:WFC) has started the new week by offering a range if refinance mortgage packages with the potential to save current homeowners considerable sums of money on their outstanding balances.

Wells Fargo Refinance Mortgage Rates Still Offering Potentially Huge Savings

First looking at the most popular refinance packages, Monday sees the 30 year fixed rate contract being offered at a rate of 4.375% and an APR amounting to 4.766%, while the shorter 15 year fixed contract is now at 3.500% and an APR figure of 4.020%.

The 5/1 ARM can be taken out for a starting rate of 2.750% and an APR of 3.335%, while the FHA 5/1 ARM can be taken out for a rate of 3.250% and an APR of 2.934% variable.

It goes without saying that at this stage it is incredibly unlikely that the boom the housing Market needs will be arriving at any time in the near future, given that even record low rates seen over previous weeks were not nearly enough to tempt potential buyers off the sidelines.

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