Wells Mortgage Rates August 16, 2010
Wells Mortgage rates are still at record lows. Mortgage rates at Wells Fargo and other bank mortgage lenders started down the road to historic low levels last month and there doesn’t appear to be any barriers that will prevent these rates from remaining low in the near future.
Wells Fargo is one of the nation’s largest bank mortgage originators by volume. But even with ever lower mortgage rates it is unlikely that the banks’ mortgage volume will increase measurably. A number of potential home loan borrowers appear to be waiting to see what is going to happen in the housing markets with regards to price as well as the mortgage market before committing to a new home loan.
Of course, for those potential mortgage loan borrowers that are in need of a loan to buy a house or may qualify for a refinance this is a great time to take advantage of the lower mortgage rates while they are here.
Wells Mortgage offers a variety of home loan products with competitive mortgage rates including FHA loans. FHA loans are still available from Wells with low down payment requirements as well as flexible income, debt, and credit requirements.
Current Wells Mortgage rates include:
30 year fixed mortgage rate of 4.50% with 1.0 point and a 4.656% APR.
15 year fixed mortgage rate of 3.75% with 1.0 points and an APR of 4.017%
FHA mortgage rates from Wells include the 30 year at 4.50% and 1.0 point for a 4.848% APR. A 5 year ARM under the FHA program is at 3.125% and 1.0 point and a 2.695% APR.
The 5 year conventional ARM is priced at 2.875% with 1.0 point resulting in a 3.263% APR.
Wells Mortgage rates listed are for California properties. Wells Mortgage rates are available on a number of different loan products as well as with a number of additional point and rate options.
The Wells mortgage rates listed are current as of this publication date but are subject to change by the bank. The mortgage interest rates and costs were based on a loan amount of $250,000.00 with a 20% or greater down payment for a single family owner occupied property. All home loans and mortgage rates require bank approval.
While the Wells Mortgage rates listed are CA mortgage rates, Illinois mortgage rates were same on the fixed rate products as were the mortgage rates in MA, FL mortgage rates, AZ mortgage rates, IN mortgage rates, TX mortgage rates, PA mortgage rates and OH mortgage rates. These are just a sample of the mortgage rates by state or region.
For more mortgage rate information, a Wells Mortgage representative can be reached at 877-937-9357.