As of 12PM EST here is how the mortgage rates at Wells Fargo looks like. All of the rates, including the benchmark 30 year fixed rates are of today's, updated at 12PM EST.
The 30 year fixed rate is currently at 4.875 percent. The APR is 5.065 percent. When it comes to FHA Loans, the mortgage rate there for the 30 year fixed is slightly higher. It's currently at 5.12, while the APR is 5.85.
The 15 year rate is 4.25% and its APR is 4.57. The 5 year ARM is 3.75, while the 5 year ARM FHA is 3.75.
Those were today's conforming mortgage rates at Wells Fargo. The larger loan amounts in eligible areas are a little higher when it comes to 30 year fixed rate. The mortgage loans for that are currently originated at 5.12 percent. The APR is 5.26. The FHA is the same, but the APR is considerably higher at 5.794 percent.
Here is how today's jumbo rates are at Wells Fargo. The 30 year fixed mortgage is at 5.5 percent. The APR is 5.643 percent. The 5 year ARM is 5 percent even. The APR for this rate is much lower at 3.93 percent.
Investors and mortgage brokers eye on Fed's move, which has announced the end of purchasing of MBA (Mortgage-backed Securities) by the end of March. Some of them, pointing to the basic fundamentals of supply and demand say the home loans rates will go up and brace for the hike. Others say it's not every likely, pointing out that investors have largely reacted to the surprising news. Thus, the Federal Reserve winding down the purchase of MBA, which has been responsible for lower rates, may not surprise anyone.
Written by Armen Hareyan
HULIQ.com
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