30 year fixed rate loans at Wells Fargo (NYSE:WFC) are being offered for 3.875% today yielding an APR of 3.925%. The lower FHA 30 year mortgage interest rates stand at 3.750% at the bank and an APR of 4.785%. 30 year jumbo fixed rate mortgage interest rates have been quoted at 3.375% and an APR of 3.010%.
Shorter term, popular 15 year FRMs stand at 3.500% today carrying an APR of 3.786%.
As far as ARMs go, 5 year loans at Wells are being offered for 3.125% and an APR of 3.212%. ARMs and their APRs change as interest rates move up and down. 5 year FHA Adjustable Rate Mortgages are being quoted at 3.375% showing an APR of 3.567%.
Standard 30 year refinance FRMs are being offered for 3.875% at Wells and APR of 3.925%. 30 year refinance FHA FRM interest rates are coming out at 3.750% today and an APR of 4.785%. The jumbo options for the 30 year refinance mortgages are listed at 2.875% and APR of 3.294% today.
Large (in eligible areas) 30 year refinance FRMs have been published at 3.375% with an APR of 3.010%.
The short term 15 year refi loan interest rates are 3.500% at the bank today yielding an APR of 3.567%. refi FHA ARMs in the 5 year category are being quoted at 3.375% with a starting APR of 3.567%. The 7/1 ARM deals have been published at 3.125% today with an APR of 3.212%.
Big bank interest rates are often influenced by MBS’s traded on finance markets that are in concert with stock market movements. Stock markets moved up in today’s trading leaving the DJIA at 17899.00 up +0.28.
Mortgage rates at Wells did not move in the same direction as the stock market direction. Drilling down a bit, this particular bank’s stock price rose to 50.85 up +0.30.
The benchmark 30 year loan interest rates are listed at 3.750% at PHH Mortgage yielding an APR of 3.819% today. The short term 15 year FRMs have been listed at 3.030% with an APR of 3.217%.
10 year FRMs are being quoted at 2.960% today carrying an APR of 3.232%. The best 20 year loan deals are published at 3.550% today with an APR of 3.699%.
The 5/1 Adjustable Rate Mortgages have been offered at 3.000% at PHH Mortgage with a starting APR of 3.509%. The 7 year ARMs are on the books at 3.210% today showing an APR of 3.536%. The 10/1 ARMS are being offered for 3.410% today yielding an APR of 3.599%.
Today’s Refinance Rates
The benchmark 30 year refinance FRM interest rates at PHH Mortgage are being offered for 3.50% and APR of 3.723%. Shorter term, popular 15 year refi loan deals are on the books at 2.75% and APR of 3.239% today. 7 year refinance ARM interest rates are coming out at 2.625% today and an APR of 3.141%.
Market Impact on Mortgage Rates
Bank mortgage rates are pressured by mortgage bonds and security prices which are traded in the stock market. Security markets moved up by close of day today with the DJIA at 17899.00 up +0.28.
This time the bank didn’t keep with the action in the market. Now the stock price of PHH Mortgage rose to 14.12 up +1.66%.