Wells Hires 5,000 - Todays Mortgage Rates 5/23/2009
Thursday, April 23, 2009
Wells Fargo has hired more than 5,000 people to help the company process home mortgage applications, the company said Wednesday.
The increased staffing levels have been caused by a record demand for home loans, caused by low interest rates that have spurred refinancing activity.
Wells Fargo, which is Iowa's largest bank and the Des Moines area's largest private employer, helped nearly 500,000 U.S. homeowners get into homes or lower their payments by refinancing, the company said in its earnings report Wednesday. It services one of every six mortgages in the United States
|
Mortgage
& Home Equity |
CDs
|
Money Markets,
Interest Checking & Savings |
| Description | Rate | APR |
| Home Equity Line of Credit | 4.659% | |
| Home Equity Loan - 10 Years | 7.700% | |
| Home Equity Loan - 15 Years | 7.827% | |
| 15 Year Fixed Conforming | 4.613% | 4.753% |
| 15 Year fixed Jumbo | 5.999% | 6.119% |
| 30 Year Fixed Conforming | 4.898% | 4.980% |
| 30 Year Fixed Jumbo | 6.189% | 6.259% |
| 1 Year ARM Conforming | 5.052% | 3.949% |
| 1 Year ARM Jumbo | 5.770% | 4.052% |
| 3/1 Year ARM Conforming | 5.191% | 4.240% |
| 3/1 Year ARM Jumbo | 5.645% | 4.297% |
| 5/1 Year ARM Conforming | 4.804% | 4.293% |
| 5/1 Year ARM Jumbo | 5.509% | 4.490% |
| 7/1 Year ARM Conforming | 5.127% | 4.499% |
| 7/1 Year ARM Jumbo | 6.149% | 4.869% |
| 10/1 Year ARM Conforming | 5.346% | 4.786% |
| 10/1 Year ARM Jumbo | 6.267% | 5.243% |
| Interest Only: 3/1 Year ARM Conforming | 5.382% | 4.355% |
| Interest Only: 3/1 Year ARM Jumbo | 5.739% | 4.468% |
| Interest Only: 5/1 Year ARM Conforming | 5.021% | 4.420% |
| Interest Only: 5/1 Year ARM Jumbo | 5.759% | 4.631% |
| Interest Only: 7/1 Year ARM Conforming | 5.456% | 4.671% |
| Interest Only: 7/1 Year ARM Jumbo | 6.398% | 5.047% |
