On Tuesday, mortgage rates inched lower once more, continuing the downward trend of the last month after Federal Reserve Chair Janet Yellen expressed caution about increasing rates. Rates are now approaching three-year lows as FHA loan rates hit 3.25% and the rate for a 30-year fixed loan is quoted as low as 3.50%.
Today’s Wells Fargo Mortgage Rates
The best rate advertised today for a 30-year fixed mortgage at Wells Fargo is 3.750% with an APR of 3.800%. The lender advertises an FHA loan at the same 3.750% interest rate with an APR of 4.762%. Borrowers can lock into a shorter-term 15-year fixed mortgage at 3.000% with a 3.105% APR. A 7/1 ARM is quoted today at 3.500% for the first seven years with an APR of 3.524%.
Wells Fargo offers larger loan amounts in eligible high-cost areas. A larger conforming 30-year fixed loan is published at 3.750% today with a 3.774% APR. A larger 7/1 adjustable rate mortgage is quoted at 3.625% to start with a 3.568% APR.
The best rates are reserved for jumbo loan borrowers. A 30-year fixed jumbo mortgage is published at 3.375% with an APR of 3.391%. Wells Fargo advertises the 7/1 adjustable rate loan at 2.750% to start with an APR of 3.170%.
Homeowners interested in refinancing can lock into a 30-year fixed refi loan at 3.875% with a 3.912% APR. A 15-year fixed refinance loan is quoted at 3.125% today with an APR of 3.189%. Wells Fargo advertises the 30-year fixed jumbo refi at 3.875% today with an APR of 3.881%.
Chase Mortgage Rates on Tuesday
Chase advertises the benchmark 30-year fixed mortgage today with an interest rate of 3.500% and a 3.571% APR with 0.875 point. The advertised rate for the 15-year fixed mortgage has dropped this week to 2.875% with an APR of 3.001% and 0.875 point. Chase advertises a 5/1 adjustable rate loan with an interest rate of 2.750% to start and 1.125 points. Borrowers can lock into a 7/1 ARM at 3.000% for the first 7 years with 1 discount point and a 3.349% APR to start.
Today’s Rates at SunTrust
Mortgage rates have edged lower at SunTrust today. The best rate for the standard 30-year fixed home loan is 3.490% with a 3.675% APR. Borrowers can lock into a 15-year fixed mortgage with an interest rate of 2.800% and a 3.087% APR. SunTrust advertises the popular 5/1 ARM at 2.750% for the first five years with a starting APR of 3.389% while the 7/1 adjustable rate mortgage is quoted at 2.990% to start with a 3.420% APR.
Borrowers can secure a 30-year fixed VA loan at SunTrust today with an interest rate of 3.250% and a 3.514% APR. A 15-year VA mortgage is published at 2.875% with an APR of 3.278%. A 30-year FHA mortgage is quoted today at 3.200% with an APR of 4.594%.
The interest rates mentioned within the article are subjected to change without any guarantee and are up-to-date at the time of publishing of the article. For the latest interest rates, make sure to check the current values.