February 27, 2014
Fixed Mortgage Rates Tick Up, Jumbos Remain Relatively Cheap
The average rate for a conforming 30-year mortgage ticked up from 4.33 to 4.37 percent over the past week and is within 21 basis points of the 33-month high rate of 4.58 percent recorded this past August.
The average rate for a 30-year fixed mortgage was 3.51 percent at this time last year while the all-time low of 3.31 percent was recorded in November of 2012.
In terms of the rate for Jumbo loans, Wells Fargo is currently advertising a rate of 4.125 percent for mortgages over $625,500, a discount of 0.375 percentage points as compared to the 4.5 percent rate they're advertising for both regular conforming and super conforming loans over $417,000 in high cost areas like San Francisco.
First Published: February 27, 2014 7:45 AM
Comments from "Plugged In" Readers
Ed.: Love Socketsite, but where do you get your information on Wells Fargo's advertised rates? Our mortgage broker is with Wells Fargo and he consistently quotes higher rates than what you indicate here. Where do you see the 4.125% rate advertised? Thanks!
Posted by: Stephen at February 27, 2014 9:15 AM
I see the Jumbo 30 year fixed rate of 4.125% on their website, https://www.wellsfargo.com/mortgage/rates
Posted by: Happy in SF at February 27, 2014 10:11 AM