Mortgage rates have moved lower for many popular loan products this week, particularly fixed-rate mortgages.
Thursday Bank of America Mortgage Rates
Bank of America advertises the benchmark 30-year fixed mortgage today at 4.000% with a 4.112% APR. The 20-year fixed loan is published at a lower 3.875% on Thursday with a 3.997% APR. Buyers can lock into a shorter-term 15-year fixed loan with an interest rate of 3.375% and a 3.521% APR.
The lender advertises the 5/1 ARM at 3.125% for the first five years with a 2.939% starting APR. The 7/1 adjustable rate mortgage is quoted with a 3.250% interest rate for the first seven years with a 3.038% APR to start. Buyers can lock into a 10/1 ARM for longer-term predictability with a 3.625% interest rate for ten years with a 3.387% APR.
Today’s Wells Fargo Mortgage Rates
Buyers can lock into the standard 30-year fixed mortgage at Wells Fargo with a 4.125% interest rate and an APR of 4.150%. A 30-year FHA loan is quoted at 3.875% with a 5.417% APR. The shorter-term 15-year fixed loan is quoted at 3.375% with an APR of 3.464%. For buyers who want greater flexibility, Wells Fargo advertises the 7/1 ARM at 3.250% for the first 7 years with a starting APR of 3.028%. The 5/1 FHA ARM is quoted at the same 3.250% interest rate for the first 5 years with a 3.970% APR.
Wells Fargo offers larger conforming and FHA loans in federally designated high-cost areas. A larger 30-year fixed mortgage is published at 4.125% today with a 4.111% APR. The larger FHA mortgage is quoted at 3.875% with a 5.362% APR. Buyers can lock into a larger 7/1 ARM with a 3.625% interest rate and a starting APR of 3.159%.
Jumbo loan borrowers can receive the lowest mortgage rates at Wells Fargo on Thursday. A 30-year fixed jumbo mortgage is offered with a 4.000% interest rate and an APR of 4.007%. The 7/1 adjustable rate mortgage is quoted at 3.250% for the first 7 years with a starting APR of 2.986%.
Refinance rates remain competitive at Wells Fargo. The 30-year refi loan is published at 4.125% on Thursday with a 4.184% APR. The FHA refinance loan is quoted at 4.000% with a higher 5.540% APR. Buyers can lock into a 15-year refi loan with a 3.500% interest rate and an APR of 3.538%. The 7/1 refi ARM is offered with a 3.375% interest rate and an APR of 3.074% to start.
Sun Trust Bank Mortgage Rates
Mortgage rates show some movement at Sun Trust Bank on Thursday. The 30-year conventional fixed mortgage is quoted at a slightly lower 3.9% today with a 4.048% APR. Sun Trust advertises the 30-year FHA mortgage with a 3.625% interest rate and a 5.241% APR. Buyers can lock into a 30-year jumbo loan with a 4.0% interest rate and a 4.140% APR. The 5/1 adjustable rate loan is advertised at a lower 2.99% interest rate for the first five years with a 2.954% APR to start. The 7/1 ARM is quoted at the same 3.25% interest rate on Thursday with a starting APR of 3.091%.
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.