A homeowner with a 250 000 mortgage balance paying 3 73 on a 30 year loan could cut their monthly payment from 1 155 to 1 071 by financing at today s lower rates.
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The apr for a wells fargo home equity line of credit is variable and based on the highest prime rate published in the western edition of the wall street journal money rates table called the index plus a margin.
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On monday october 05 2020 according to bankrate s latest survey of the nation s largest mortgage lenders the benchmark 30 year fixed mortgage rate is 3 050.
Rates terms and fees as of 10 01 2020 04 43 am eastern daylight time and subject to change without notice.
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