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Wells Fargo rates and news for Thursday, July 21

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Wells Fargo’s rates are staying competitive on mortgages, auto loans and credit cards.

Overall, rates on loans are historically low. Those seeking a loan will find it’s a good time to be in the market.

Wells Fargo mortgage rates

The rate on a 30-year fixed-rate loan from Wells Fargo is 3.625%, around a quarter of a basis point higher than the 3.4% daily national average, according to Bankrate’s latest rate survey.

At 3.625%, you’d pay somewhere around $456 per month on a 30-year loan. Over the life of the loan, you’d pay somewhere around $64,178 in interest.

You can use this mortgage calculator to estimate your monthly payments and see the effect of adding extra payments.

Remember, it pays to comparison shop. Right now mortgage rates are near historic lows, and you can find some great deals.

Last updated: 07-21-2016

Auto loan rates at Wells Fargo

The bank offers auto loan options from 12 to 72 months. The lowest rate you can get on a new purchase loan is 3.14%, around a tenth of a basis point better than the 3.23% daily national average rate for a new 60-month auto loan.

Wells Fargo says that 5% of approved applicants qualified for that rate from January through March 2016.

At 3.14%, you’d pay around $180 per month for every $10,000 borrowed.

Our auto loan calculator can help you estimate monthly payments for a new or used car loan at today’s current rates. It’s also helpful for figuring out how much interest you’ll pay over the life of the loan.

Don’t forget to comparison shop. Auto loan rates are near historic lows, making it a great time to be in the market for a new or used vehicle.

Wells Fargo credit card rates

The Wells Fargo Cash Wise Visa comes with a 0% introductory period for the first 15 months. After that, the APR jumps up to between 13.24% and 25.24% based on creditworthiness. The lowest rate available after the introductory period on this card, 13.24%, is more than 2 basis points lower than the 15.32% daily average for rewards cards.

This card from Wells Fargo unlimited 1.5% cash rewards on net purchases daily. The cash rewards don’t expire.

If earning cash rewards for daily spending is appealing to you, this type of card might be beneficial.

Wells Fargo goes robo

In 2017, Wells Fargo plans to start its robo-advisory service.

“You’ll probably see us roll that out some time in the first half of next year,” Wells Fargo COO Tim Sloan said Wednesday during an interview at Wells Fargo’s Toronto office.

The bank has been working on the service for some time and is targeting millennials with the technology.

“When you think about who would use robo-advising more often, you think about the millennials,” Sloan said.

Follow me on Twitter: @MitchStrohm

You will see these rates listed on Bankrate site averages; these calculations are run after the close of the business day. Included there are rates and/or yields we have collected on the previous day for a specific banking product.

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