Mortgage rates have shown some movement at the start of the week. On Monday, October 20, many major lenders are quoting higher rates for popular fixed rate loans and adjustable rate mortgages, although some interest rates have moved lower for the day.
Bank of America Mortgage Rates
Mortgage interest rates show little movement at Bank of America. The standard 30-year fixed rate mortgage is quoted at 4.000% today with an APR of 4.089%. Bank of America publishes the 20-year fixed loan at 3.750% with a 3.906% APR, while the shorter-term 15-year fixed morgage is quoted at 3.375% today with a 3.530% APR.
Homeowners who want to refinance can lock into similarly low rates. A 30-year fixed refi loan is published at 4.000% today with an APR of 4.124%. The 20-year refi loan is quoted at the same 4.000% interest rate with a slightly lower 4.103% APR. Homeowners can lock into a 15-year refinance at 3.375% today with an APR of 3.528%.
Wells Fargo Mortgage Rates
Wells Fargo advertises the benchmark 30-year fixed mortgage today a 4.125% with an APR of 4.209%. The 30-year FHA loan is quoted lower today at 3.750% with a 5.330% APR. The shorter-term 15-year fixed loan is advertised at 3.375% today with an APR of 3.521%. Wells Fargo advertises the 7-year ARM today at 3.125% locked for seven years with a starting APR of 3.000%. The 5-year FHA ARM is quoted at the same 3.125% interest rate for the first five years with a starting APR of 3.910%.
Wells Fargo offers larger conforming and FHA loans in federally designated area with high real estate costs. A larger 30-year fixed loan is published at 4.125% today with a 4.167% APR, while the larger 30-year FHA loan is quoted at 3.750% today with an APR of 5.283%. Buyers can lock into a larger 7-year ARM at 3.500% today with a 3.135% APR to start.
Jumbo loan borrowers will enjoy the lowest interest rates at Wells Fargo today. A 30-year fixed jumbo loan is quoted at 4.000% today with a 4.028% APR. The 7-year jumbo ARM is published with an interest rate as low as 3.125% for the first seven years with a starting APR of 2.947%.
Homeowners who want to refinance to lock into a lower rate will find competitive rates at Wells Fargo today. A 30-year fixed refi loan is quoted at 4.125% with an APR of 4.206%. A 30-year FHA refinance is advertised at 3.750% today with a 4.860% APR. Wells Fargo quotes a 5/1 refi ARM at 3.125% today with a starting APR of 2.965%.
Sun Trust Mortgage Rates
Rates are largely unchanged at Sun Trust Bank today. A 30-year fixed conventional loan is quoted a 3.9% today with a 4.011% APR. The 30-year FHA loan is advertised at a lower 3.5% interest rate with an APR of 5.122%. A 30-year jumbo loan is quoted at an interest rate of 4.00% with a 4.1227% APR. Sun Trust advertises the popular 5/1 ARM at 2.9%, the lowest rate of the day, with a starting APR of 2.903%. A 7/1 adjustable rate mortgage is published at 2.99% today for the first seven years with an APR of 2.994%.
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.