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Old 03-21-2008, 10:21 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,835,178 times
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Wells Fargo 30 year fixed hits 8 percent.

Hrmm...even if housing prices go down..as mortgage rates go up, the month to month savings are sort of ...... nil.

Interesting.

Then again, who keeps a house for 30 years any more?

https://www.wellsfargo.com/mortgage/rates?
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Old 03-21-2008, 11:05 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,589,971 times
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that's their Jumbo rates..not conforming.

Their jumbo rates are still high as Jumbos can be around 6.75%...and the ARMs are super high. With their criteria....ARMs can be as low as 5.5%

oh well now you know why these banks stay around.
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Old 03-21-2008, 12:23 PM
 
5,342 posts, read 14,142,209 times
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Quote:
Originally Posted by 70Ford View Post
Wells Fargo 30 year fixed hits 8 percent.

Hrmm...even if housing prices go down..as mortgage rates go up, the month to month savings are sort of ...... nil.

Interesting.

Then again, who keeps a house for 30 years any more?

https://www.wellsfargo.com/mortgage/rates?
That's for jumbo mortgages (loans over $417k) and you can do a lot better than that if you shop around.

Conforming rates (less than or equal to $417k) are still very attractive in the mid to upper 5's. If you need more than $417k it is wise to look at a $417k 1st mortgage and a 2nd mortgage behind that to make up the difference.
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Old 03-21-2008, 07:15 PM
 
Location: CNJ/NYC
1,240 posts, read 3,970,709 times
Reputation: 429
Quote:
Originally Posted by 70Ford View Post
Wells Fargo 30 year fixed hits 8 percent.

Hrmm...even if housing prices go down..as mortgage rates go up, the month to month savings are sort of ...... nil.

Interesting.

Then again, who keeps a house for 30 years any more?

https://www.wellsfargo.com/mortgage/rates?
Wells doesn't really want to do fixed jumbo, as you can see.

A jumbo 10/1 ARM is still available in the low 6s, though. Not from Wells.

Rates on con-jumbo are pretty decent, though, at Wells.
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