Current Wells Fargo Mortgage Rates are about .25 percent avove the lowest mortgage rates available today. Currently Wells Fargooffers a 5.125 percent on a conforming 30 year fixed mortgage. FreeRateUpdate.com research of wholesale mortgage lender’s rate sheets shows 30 year fixed mortgage rates as low as 4.875 percent available today. Wells Fargois offering 4.5 percent today on a 15 year fixed conforming mortgage. FreeRateUpdate.com research shows that too is a 1/4 percent above the lowest mortgage rates today. Wells Fargo offers a 5/1 ARM at 3.75 percent. We found Wells Fargo’s 5/1 ARM mortgage rateto be in-line with today’s lowest mortgage rates. It’s quite interesting that Wells is a 1/4 percent above the lowest mortgage rates on their fixed programs and at par on their adjustable rates. Is Wells Fargo pushing adjustable mortgages?
Wells Fargo Mortgage Incentive “The Wells Fargo Closing Guarantee”SM
We took a look at this incentive and found it to be very questionable. Wells Fargo offers to send you a check if your purchase loan isn’t funded in time that equals your first principal and interest payment. So, what happens if they don’t get the loan through? It only says they’ll write you a check if they’re late funding the loan. What if they’re late and you miss out on the home? What happens if they drop the ball on the loan and it doesn’t go through. What if their underwriters are scared to put it to DOCS when they are deep into the process? Quite a shaky incentive I’ll have to give a thumbs down to this. Don’t get excited over it.
Current Wells Fargo Mortgage Rates Table Below
Wells Fargo Mortgage Rates as of 10/12/2009 12:34 PM Eastern
| Product | Interest Rate | APR |
|---|---|---|
| Conforming and FHA Loans | ||
| 30-Year Fixed | 5.125% | 5.318% |
| 30-Year Fixed FHA | 5.500% | 6.245% |
| 15-Year Fixed | 4.500% | 4.826% |
| 5-Year ARM | 3.750% | 3.765% |
| 5-Year ARM FHA | 3.750% | 3.342% |
| Larger Loan Amounts in Eligible Areas – Conforming and FHA. | ||
| 30-Year Fixed | 5.250% | 5.390% |
| 30-Year Fixed FHA | 5.250% | 5.924% |
| 5-Year ARM | 4.000% | 3.806% |
| Jumbo1 Loans – Amounts that exceed conforming loan limits | ||
| 30-Year Fixed | 5.750% | 5.895% |
| 5-Year ARM | 5.000% | 4.176% |
About the Author. Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC (top industry closer) developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market. 
