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30-Year Refinance Mortgage Rates: Wells Fargo Fixed, Jumbo and FHA Refinance Rates for February 25
Finance February 25, 2015Elizabeth Atkins
In today’s mortgage summary we are going to disclose the current mortgage interest rates of San Francisco-headquartered lender, Wells Fargo (NYSE: WFC), as the financial institution has just updated its loan information which reflect the latest changes. Bear in mind, that these mortgage interest rates are subject to change without prior notice from the bank and may vary upon loan approval or disbursement. Wells Fargo’s mortgage interest rates are updated for February 25, 2015.
Presently, the lender is offering the benchmark 30-year fixed home refinance loan for as low as 4.000%. The corresponding annual percentage rate on this type of loan is coming out at 4.047%. The bank’s shorter-term, 15-year fixed refinance mortgage is carrying 3.500% in interest and the loan features an APR figure of 3.538%.
Borrowers, who favor refinance loans that come with lower down payments than standard conventional loans, may find the 30-year FHA-insured mortgage a more suitable option. On Wednesday, the aforementioned loan has a starting rate of 3.875%, whilst the APR stands at 4.882%.
Apart from fixed mortgage loans, the lender also advertises loans, which come with flexible interest rate conditions. One of them is the 7/1 adjustable rate loan, which is published at a rate of 3.375% and it’s coupled with an APR figure of 3.141%. Another
flexible option for home refinancing is the 5/1 ARM FHA, which can be secured at a rate of 3.375% and it has an APR sum of 3.580%.
Switching to home purchase loan options, the San Francisco-headquartered lender advertises the 30-year fixed conventional home mortgage at a rate of 4.000% and the loan package includes an APR sum of 4.025%. Borrowers, who lean toward the 15-year fixed counterpart, can expect to pay 3.375% in interest. The loan is accompanied by an APR figure of 3.481%.
Borrowers, who are seeking non-conforming home purchase loan option at this lender, will see the 30-year fixed mortgage loan with a jumbo balance being offered on Wednesday at a rate of 3.875%. This type of mortgage loan features an annual percentage rate of 3.891%. Others, who opt for the 7-year ARM jumbo loan package, can expect to pay 3.250% interest cost. The aforementioned loan is coupled with an APR figure of 3.054%.
More information on the latest mortgage interest rates, loan assumptions and terms and conditions can be found on Wells Fargo’s website.
Government-sponsored housing giant, Freddie Mac reported last Thursday, that the interest rate on the 30-year fixed loan ticked up to 3.76% from the former 3.69%. On the other hand, the average rate on the shorter-term 15-year fixed mortgage edged up to 3.05% last week. A week earlier this type of mortgage loan averaged a rate of 2.99%, according to the organization.
Category: Mortgage rates