New Mortgage Rates
Nationwide’s New Mortgage Rates
All new mortgage ratess taken out from 30 April 2009 will migrate to Nationwide’s new Standard Mortgage Rate (SMR) at the end of the deal period. The variable SMR is currently 3.99%. It offers full flexibility to overpay with no limit (minimum or maximum) and no early repayment charge. Alternatively, customers can choose one of the new mortgage rates available to them at the end of their deal period.
Andy McQueen, mortgage director at Nationwide, said: “Our attractive mortgage range is complemented by a competitive standard mortgage rate. The mortgage market has experienced fundamental changes due to the prevailing economic and market conditions. We are currently in a very low interest rate environment which can be challenging when balancing the needs of both our savers and our borrowers. The new SMR will provide us with more pricing flexibility, something which is essential in helping us to offer our savers more attractive products in the future.
With effect from 30 April 2009, Nationwide’s mortgage rates will include:
For those remortgaging;
Two year fixed rate available from 3.98% (up to 60% LTV)
- New customers can borrow up to 85% LTV
- Existing customers can borrow up to 95% LTV
- �995 reservation fee
Three year tracker rate available from 3.26% (up to 60% LTV)
- Remortgage customers can borrow up to 75% LTV
- �995 reservation fee
For those buying a home;
Two year fixed rate available from 3.78% (up to 60% LTV)
- New customers can borrow up to 85% LTV
- Existing customers can borrow up to 95% LTV
- �995 reservation fee
Three year tracker rate available from 3.28% (up to 60% LTV)
- New customers can borrow up to 80% LTV
- Existing customers can borrow up to 95% LTV
- �745 reservation fee for first time buyers
- �995 reservation fee
Wells Fargo New Mortgage Rates
A standard 30-year fixed is at an annual percentage rate (APR) of 4.96%, while a 20-year fixed is at 5.289% APR. A special 40-year fixed rate of 6.7% APR is also available. For a 15-year short loan, the current rate is 4.989% APR and the 5-year ARM is at 4.466% (for the five years) upgrading to whatever is the current rate after the term.
Jumbo loans (loans over the “norm” for a given area) are available in both a 30-year fixed at 6.399% or a 5-year ARM at 4.629%, adjusting to the current Jumbo rate after the term.
For those who qualify for an FHA loan, you’ll find that Wells Fargo interest rates are very competitive at 5.645% APR.
Latest New Mortgage Rates US average :
| INSTRUMENT | RATE | CHANGE | |
| 30 Year Fixed | 4.60% |  |
-0.03% |
| 15 Year Fixed | 4.35% | |
-0.04% |
| 3/1 ARM | 4.25% | |
-0.05% |
| 5 Year Balloon | 4.63% | |
-0.07% |
| 5/1 ARM | 4.33% | |
-0.09% |
| 5/1 Jumbo ARM | 4.47% | |
-0.03% |
| 7 Year Balloon | 4.70% | |
-0.07% |
| FHA 1 Yr ARM | 4.09% | |
-0.01% |
| FHA 30 Year Fixed | 4.58% | |
-0.06% |
[...] circumstances. If you are fixed into a product with redemption charges then searching for a new mortgage rates could cost you more that it would save you. But if your present deal is nearing the end of the [...]