Mortgage Rates Today: Wells Fargo, Bank of America and Sun Trust (October 6, 2014)

Mortgage rates for many popular home loan products have moved down at the start of the week. On October 6, 2014, borrowers can lock into popular products like the benchmark 30-year fixed rate mortgage and the 15-year loan at lower rates.

Bank of America Mortgage Rates

Bank of America has updated its current loan rates for Monday, October 6. The benchmark 30-year fixed loan is quoted at a lower 4.125% today with an APR of 4.244%. The shorter-term 15-year fixed loan is advertised at 3.500% with an APR of 3.648%. Buyers can lock into a 20-year fixed loan today at 4.000% with an APR of 4.141%. A 5/1 ARM is quoted at 3.375% today for the first five years with a starting APR of 3.595%.

Refinance rates at Bank of America remain competitive. A 30-year fixed refi loan is published at 4.125% with an APR of 4.253%. A 15-year fixed refinance loan is quoted at 3.625% with an APR of 3.736%. Homeowners can lock into a 20-year fixed loan at 4.125% today at Bank of America with an APR of 4.253%.

Wells Fargo Mortgage Rates

Mortgage rates are largely flat at Wells Fargo at the start of the week. The 30-year fixed rate mortgage is published at 4.250% with an APR of 4.335%. The best FHA loan mortgage rate today is 4.000% with an APR of 5.583%. Wells Fargo advertises a 15-year fixed mortgage at 3.625% today with an APR of 3.772%. A 5-year FHA ARM is quoted at 3.250% for the first five years with an APR of 3.968%. A 7-year ARM is quoted at 3.500% with an APR of 3.243% to start.

Wells Fargo offers larger conforming loans in select designated areas. A larger 30-year fixed loan is quoted at 4.250% today with an APR of 4.292%. A larger FHA loan is published at 3.875% with an APR of 5.409%. A larger 7-year ARM is available today with an interest rate starting as low as 3.750% with an APR of 3.321%.

Wells Fargo also offers jumbo loans to well qualified borrowers. A 30-year jumbo mortgage is advertised at 4.125% with an APR of 4.153%. A 7-year jumbo ARM is quoted at 3.250% with an APR of 3.073%.

Wells Fargo has updated its refinance rates as well. The best refinance rate today for a 30-year refi loan is 4.375% with an APR of 4.436%. Homeowners can refinance into a 30-year FHA loan at 4.000% with an APR of 5.131%. A 15-year refinance loan is published at 3.625% with an APR of 3.748%. Wells Fargo allows homeowners to refinance into a 5/1 ARM at 3.500% for the first five years with an APR of 3.160%.

Sun Trust Mortgage Rates

The best mortgage interest rate today at Sun Trust for a 30-year loan is 4.125% with an APR of 4.248%. A 30-year FHA loan is quoted at 3.75% with an APR of 5.38%. Sun Trust Bank advertises the shorter-term 15-year fixed rate loan at 3.3% with an APR of 3.53%. Buyers can lock into a 7/1 adjustable rate mortgage today at 3.4% with an APR of 3.22%. A 5/1 ARM is published at 3.2% for the first five years with an APR of 3.086%. Sun Trust Bank also offers a 30-year jumbo fixed mortgage at 4.3% with an APR of 4.42%.

Disclaimer: The rates quoted above are basically the average advertised by a particular lending company. No guarantee of taken from the lender’ aspect whether the borrower will qualify for the mortgage rates mentioned in the article. The lenders dole out interest depending upon various facets, some of which may be unique to the borrower. This website does not engage in the sale or promotion of financial products and makes no claims as to the accuracy of the quotation of interest rates.