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Wells Fargo Mortgage Rates

Wells Fargo Mortgage Rates are updated everyday to reflect the current trend in the home finance market. As one of the four leading banks in US, Wells Fargo has acquired a wide customer base across the country, despite its decision to stay out of the sub-prime lending market. It offers one of the lowest prime interest rate to its most creditworthy customers. The prime lending rate is not adjusted on a regular basis but instead it conforms to the Fed Funds Rate. As a result, the prime rate is almost the same for all major banks including Bank of America, Chase Bank and Citi Financial. Moreover, if you see the graph, it shows a constant prime rate throughout 2009 and 2010.

Wells Fargo Mortgage Rates Trend

There are certain factors that govern the rate of most mortgages, as these factors change quite frequently, you will notice a different mortgage rate each day. Wells Fargo keeps its customers apprised of these changes by updating its mortgage rates chart everyday. From the chart, which is usually referred to as Wells Fargo Mortgage Rates Today and is available online also, you can see the current interest rates, which are based on the purchase of single family home meant for primary residence. It should be noted here that today's rates displayed here require you to pay a loan origination charge, which is one percent of the loan amount.

Wells Fargo Mortgage Rates Today

Presently, the mortgage rates being offered by Wells Fargo for most products are well under the 5% mark. Here is a chart showing the mortgage rates for the Conforming and FHA loans for today, July 14, 2010 at 01:00 AM Eastern.
Product Interest Rate APR
30-Year Fixed Conforming 4.625% 4.812%
30-Year Fixed FHA 4.625% 5.364%
15-Year Fixed Conforming 3.875% 4.195%
5-Year ARM Conforming 3.375% 3.549%
5-Year ARM FHA 3.250% 3.074%
30-Year Fixed Jumbo 5.500% 5.643%
5-Year ARM Jumbo 4.125% 3.770%

To get current refinance rates, you can use Wells Fargo refinance rate calculation tool.

Wells Fargo Mortgage Rate Calculator

You can save a significant amount in mortgage payments throughout the loan terms, if you take a prudent decision based on certain analysis and research. Check mortgage rates history and graph to ascertain a trend in the rate of interest before choosing a loan product. Use tools and resources like Wells Fargo Mortgage Calculator to know what a mortgage would cost you if you change variables to suit your budget and requirements. The mortgage calculator is an excellent tool to find the best mortgage options at the best interest rate.

Wells Fargo Mortgage Rate Reduction

It must be noted that the rate you will be paying might be different from the base rate depending upon factors like your credit history, bank's discount points and current APR. For example, the rates charged for buying an investment property are always higher than what you pay for buying a first home or a second home. You can lower your interest rate by asking addition discount points from your lender or keep the rate unaffected from market fluctuation by locking it for a specified period. With a rate lock in place, your final rate will not be determined until closing.

You can achieve mortgage rate reduction by trying different variables in mortgage rate calculator also. Subscribe for free to the Wells Fargo Mortgage Rate Monitor (SM) Alerts to stay informed about interest trends. An existing customer having difficulties in making payments can seek mortgage rate modification as the bank's Home Affordable Modification Program is already in place.

For more information and complaints you can contact 1-800-869-3557 anytime. Check Wells Fargo Mortgage Rates Today here:

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