At the San Francisco based mortgage lender Wells Fargo Bank (NYSE: WFC) WFC +0.52%, the standard home purchase and refinancing mortgage deals are enjoying a steady ride on January 16, 2014. This Thursday, potential home loan customers will find the benchmark 30 year fixed mortgage interest rates unchanged at Wells Fargo.
As of now, the long term, 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 4.625% and are carrying an APR yield of 4.887%. However, the short term, 15 year fixed rate home loan packages are being traded at an interest rate of 3.875% and an APR yield of 4.217% today. Borrowers can also find the FHA version of 30 year fixed rate home loans trading at a lending rate of 4.250% and backed by an APR yield of 5.486%.
In the variable rate lending division, mortgage shoppers can go for the 5 year adjustable rate mortgage home loans at an interest rate of 3.625% and an APR yield of 3.371% today. The FHA versions of 5 year adjustable rate home loans are also available for interested borrowers at an interest rate of 3.250% and an APR yield of 3.718%.
In the refinancing arena, prospective borrowers can spot the popular 30 year fixed rate mortgage options being advertised at an interest cost of 4.500% and backed by an APR yield of 4.586%. The FHA variants of the 30 year refinancing fixed rate mortgage schemes can be had at a lending rate of 4.250% and an annual return rate of 5.837% today. The 30 year refinancing jumbo FRM home loans are up for grabs at an interest rate of 4.375% and an APR yield of 4.403% today.
Customers living in eligible areas can apply for the large 30 year refinancing fixed rate mortgage packages, which are now traded at an interest rate of 4.625% and an APR yield of 4.668% at Wells Fargo. The FHA backed large 30 year refinancing FRM loan deals can be acquired by eligible customers by paying an interest cost of 4.375% and enjoying an APR yield of 5.915% today.
As far as the adjustable rate mortgage deals are considered, the best 5 year refinancing options are coming out at a starting interest rate of 3.500% and an APR yield of 3.171%. However, the FHA insured 5 year refinancing ARM home loans can be had at an interest rate of 3.250% and an APR yield of 3.968% today. The jumbo variants of 5 year refinancing variable rate home loans are now advertised at an interest cost of 3.000% and an APR yield of 2.944% to start with.
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.