Mortgage Rates Today 12/13/2013
As we wrap up this week and approach the Holidays, fixed mortgage rates edged downward for the first time in three weeks - according to the latest data released from mortgage giant Freddie Mac. If you're shopping for a home or looking to refinance your mortgage, please don't hesitate to contact us and we'll strive to help you reach your goals. Remember that interest rates may vary from one institution to the next - please feel free to use our FREE rate search engine to help determine a comfortable mortgage payment for you.
The FHA 30-year fixed-rate mortgage (FRM) increased, while the conventional 5-year adjustable-rate mortgage (ARM) decreased at Wells Fargo under both their home purchase and refinance program.
At Citi, the 15-year FRM increased under their home purchase program.
Wells Fargo Home Purchase Rates
30-Year Fixed Rate 4.750% - APR 4.837% FHA 30-Year Fixed Rate 4.625% - APR 6.217% 15-Year Fixed Rate 3.875% - APR 4.023% 5-Year ARM Rate 3.375% - APR 3.171% FHA 5-Year ARM Rate 3.250% - APR 3.968%
Wells Fargo Refinance Rates
30-Year Fixed Rate 4.750% - APR 4.941% FHA 30-Year Fixed Rate 4.625% - APR 5.758% 15-Year Fixed Rate 3.875% - APR 4.058% 5-Year ARM Rate 3.375% - APR 3.206% FHA 5-Year ARM Rate 3.250% - APR 3.607%
Chase Home Purchase Rates
30-Year Fixed Rate 4.500% - APR 4.596% 15-Year Fixed Rate 3.625% - APR 3.789% 7-Year ARM Rate 3.625% - APR 3.293% 5-Year ARM Rate 3.250% - APR 3.074%
Chase Refinance Rates
30-Year Fixed Rate 4.625% - APR 4.679% 15-Year Fixed Rate 3.500% - APR 3.682% 7-Year ARM Rate 3.625% - APR 3.293% 5-Year ARM Rate 3.250% - APR 3.084%
Units General Higher Cost General Higher Cost 1 $417,000 $729,750 $625,500 $938,250
3 $645,300 $1,129,250 $967,950 $1,451,925
2 $533,850 $934,200 $800,775 $1,201,150
4 $801,950 $1,403,400 $1,202,925 $1,804,375
The limit may be lower for a specific high-cost area; use the Loan Limit Look-Up Table above to see limits by location. These limits are the same as the 2010 high-cost area loan limits and apply to all Loans originated on or before September 30, 2011. Loans originated on or after October 1, 2011, will use the 'permanent' high-cost area loan limits established by FHFA under a formula of 115% of the 2010 median home price, up to a maximum of $625,500 for a 1-unit property in the continental U.S.
About Evan BedardEvan Bedard has worked with various law firms since 2007 as a top Countrywide Home Loan modification processor. Evan has been instrumental in helping the various law firms and homeowners saving countless homes! He is also a mortgage guide in the LoanSafe forum and is helping homeowners daily.
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