Wells Fargo Home Mortgage Rates
Wells Fargo is a bank that has been around for over 150 years. Even during this current financial crisis, this bank has the ability to make acquisitions like Wachovia last year. This in one of the reasons you can trust Wells Fargo home mortgage rates and their services. When stability is needed, trust the stage coach for your financial needs.
When it comes to being competitive, the right information can be found at Wells Fargo online banking. The following are the current mortgage rates being offered by Wells Fargo as of August 6, 2009 at 5:30 pm EST.
For the standard size conforming loans, the 30 year fixed interest mortgage is at 5.375% with an APY of 5.571%. The 15 year fixed interest is at 4.750% with an APY at 5.078%. The 5 year ARM or adjustable interest rate mortgage is presently at 4.250% with an APY at 4.110%. For a larger conforming loan in eligible areas there is offered the 30 year fixed interest loan at 5.500% with an APY of 5.643% and the 5 year ARM is at 4.500% with an APY of 4.152%.The jumbo mortgage does have higher interest rates but the loans are larger. The 30 year fixed interest on the jumbo is at 6.250% with an APY of 6.399% and the jumbo 5 year ARM is at 5.250% with an APY of 4.434%.
Wells Fargo also offers FHA loans. The current 30 year fixed interest is set at 5.500% with an APY of 6.245%. The 5 year ARM is at 4.250% with an APY of 3.655%. They also offer a larger loan amount in eligible areas with a 30 year fixed at 5.750% and an APY of 6.451%. There is no jumbo loan offer thru the FHA.
The term conforming is used to show the increased amount the federal government has allowed in certain metropolitan areas because of the increased value of the property.
Wells Fargo home mortgage rates are very competitive and are thru a company that can not only be trusted but relied on to provide superior service.