Mortgage Rates for Friday: Refinances at Wells Fargo Retain Week-Long Value
While talk of record lows and abundant hikes in mortgage rates dominated the majority of the week, Wells Fargo (NYSE:BAC) and many others of a similar nature look to end the week by offering almost identical levels of value to those seen on Monday. While fluctuations may have occurred in both directions, they have subsequently all but cancelled each other out to leave us back at square one, which is of course a far from negative turn of events to say the least .
With regard to the refinance options being advertised this Friday morning at Wells Fargo, the standard 30 year package can be taken out for 4.250% and APR of 4.639%, while those looking for 15 year fixed rate refinances will find the deal at 3.375% and APR of 3.893%.
30 year FHA fixed rate refinance loans are also excellent options, today at 3.875% and APR of 4.510%.
In the case of adjustable options, the regular 5/1 ARM for refinance deals is now at 2.750% to begin and APR of 3.417% variable, while the FHA 5/1 ARM continues to offer promise at 3.125% and APR of 2.873% variable.
It pretty much goes without saying that any borrower taking on any package across the board today will be well and truly on to a winner, but with more fluctuation likely in the very near future, there is once again no telling where the rates will go, or indeed how far.
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