Wells Fargo Fixed Jumbo Mortgage Rate at 5.5

Wells Fargo updated their mortgage rates at 12:00 PM EST today. Today’s Wells Fargo 30 year fixed mortgage rates are at 4.875% for conventional 30-yr fixed mortgages, with an APR 5.065, for well-qualified consumers.

Other Wells Fargo 30-yr fixed mortgage rates today include their FHA 30 year fixed, at 5% with a 5.717% APR, their jumbo conforming 30 year fixed at 5, with a 5.123 % APR ,  conforming jumbo FHA 30 year fixed, at 5.125% with a 5.794 APR, and the true jumbo 30 year fixed, at 5.5% with a 5.643 APR.

Perhaps Wells Fargo’s 30 year fixed true jumbo mortgage (exceeds jumbo conforming loan limits) is their strongest program.

I spoke with Jeff Bowman recently, of the jumbo specialty lender TheGreatLoan.com, and he told me 5.5 on a true jumbo loan (Wells Fargo and TheGreatLoan.com offer this rate)  is the low rate out there and could only be done for extremely well-qualified borrowers with a very low LTV.

Consumers may want to search local mortgage rates for free, viewing offers from local lenders sorted on a rate table, before choosing a lender. Rates are usually available to well-qualified borrowers at least 1/4 below national averages reported by Freddie Mac.

Source: WellsFargo.com