Digital News Report – Mortgage interest rates dropped last week and Bank of America and JPMorgan Chase have some incredibly low loan rates. Well’s Fargo recently raised their rate to 5.07 percent for their 30-year fixed rate mortgages. Compare that to 4.997 with Bank of America and 4.964 percent with Chase.
Interest rates will vary according to your credit score, home location and loan amount. These rates are for customers with excellent credit scores.
15-Year Fixed Rate Mortgages
The wells Fargo 15-year rate was 4.57 percent. Bank of America did not advertise their rate but Chase advertised 4.502 percent. Well’s Fargo advertises a higher rate for the FHA qualified loans.
Jumbo Mortgage Rates
Well’s Fargo jumbo loans were going for 5.64 percent. They also offer a 5/1 Adjustable Rate Mortgage for 4.04 percent.
By: Tina Brown