Wells Mortgage Rates August 6, 2010

Wells Mortgage rates have continued to decline to low levels across a variety of mortgage loan types and products.  Average mortgage interest rates are currently at record low rates that have not been seen for 50 years.  Along with the record low average rates, Wells Mortgage rates have fallen as well. 

While mortgage rates from Wells Fargo and other bank mortgage lenders push down to record lows, the underwriting standards to obtain home loans for purchases and refinance transactions, unfortunately remain tight.

A 30 year fixed rate loan from Wells Fargo can be obtained with an interest rate at 4.50% while the 15 year mortgage rate at Wells can be obtained at below 4.0%.

Current Wells Mortgage rates include:

30 year fixed mortgage rate at 4.500% with 1.0 point and a 4.686% APR.
15 year fixed mortgage rate 3.750% with 1.0 point and an APR of 4.069%.

30 year fixed FHA mortgage rate is also at 4.500% with 1.0 point and a 5.233% APR.

A 5 year adjustable rate mortgage is available at 2.875% with 1.0 point and an APR of 3.291%.

A Wells Fargo jumbo mortgage rate on a 30 year term is at 5.125% with 1.0 point and a 5.264% APR.

A 5 year ARM jumbo loan has a mortgage rate of 4.250% and 1.0 point with a 3.734% APR.

The current mortgage interest rates from Wells displayed are based on home loan for a new purchase of a single family, primary residence with a minimum 20% down payment.  Wells Mortgage has numerous other loan options available including different mortgage interest rates and point options for the loan program displayed.

Wells Mortgage rates displayed are current as of the date of the latest update and is subject to change by the bank without notice.  All mortgage loans and mortgage rates require bank approval.  Other restrictions may apply.

The adjustable rate mortgage has an initial fixed rate period after which time the mortgage interest rate can change annually and any change will impact the monthly mortgage payment.