On Thursday, the latest results of Freddie Mac’s Primary Mortgage Market Survey found that mortgage rates dropped for the sixth week in a row amid market volatility. The average mortgage rate for the benchmark 30-year fixed-rate loan fell to 3.65% for the week ending on February 11, down from 3.72% last week and down 36 basis points since the start of the year. Mortgage lenders have updated their mortgage rates to reflect this volatility.
Wells Fargo Mortgage Rates
The best mortgage rate at Wells Fargo for the standard conforming 30-year fixed-rate mortgage is 3.625% today with an APR of 3.719%, right in line with the average rate among major lenders. The best rate for a 30-year FHA loan is published at 3.750% with a 4.822% APR. Buyers can lock into a shorter-term 15-year fixed mortgage at 3.000% with an APR of 3.147%. The popular 7/1 ARM is advertised at 3.375% for the first seven years with a 3.416% APR.
Borrowers in eligible high-cost areas can qualify for a larger conforming or FHA loan at Wells Fargo. A larger 30-year fixed mortgage is advertised at 3.625% with a 3.662% APR. A larger 30-year fixed FHA mortgage is offered at 3.875% today with an APR of 4.879%. A more flexible 7/1 ARM has the best mortgage rate of 3.500% with a 3.453% to start.
Wells Fargo is one of the leading providers of jumbo loans in the U.S. A 30-year fixed jumbo mortgage is advertised at 3.375% with a 3.387% interest rate — just slightly higher than the rate for a conforming mortgage. A 7/1 jumbo adjustable rate mortgage is published at 2.625% with a 3.056% APR to start. This is the lowest interest rate the bank offers.
For borrowers who want to refinance, Wells Fargo advertises an interest rate of 3.750% on a 30-year fixed refi loan. A 30-year fixed FHA refinance is published at 3.875%. Borrowers who want a higher monthly payment with the lowest possible interest rate can lock into a 15-year fixed refinance loan at 3.125%.
Today’s Quicken Loans Mortgage Rates
The best mortgage rate at Quicken Loans for the benchmark 30-year fixed mortgage is 3.625% with a 3.841% APR, right in line with the national average. A 15-year fixed loan is published at a low 2.75% interest rate with an APR of 3.218%. The popular 5-year ARM is available with an interest rate as low as 2.99% today with a 3.48% APR. The best rate for a 30-year VA loan is 3.25% with a 3.44% APR.
SunTrust Mortgage Rates
SunTrust offers among the lowest mortgage rates on Thursday, February 11. The conventional 30-year fixed loan is advertised at 3.490% with a 3.66% APR — this beats the national average of 3.65%. A standard 15-year fixed rate mortgage is published at a low 2.900% today with a 3.18% APR. Buyers can lock into a 5/1 adjustable rate mortgage at 2.600% with a starting APR of 3.25%. The 7/1 ARM offers greater flexibility with a higher interest rate of 2.800% and a 3.26% APR to start.
SunTrust publishes rates for 30-year fixed VA, FHA, and jumbo mortgages. A 30-year fixed jumbo mortgage is quoted at 3.400% today with a 3.55% APR. Buyers can lock into a 30-year FHA loan with an interest rate of 3.250% and an APR of 4.42%. The 30-year VA mortgage is published with an interest rate of 3.30% and a 3.20% APR.