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Wells Fargo Mortgage Rates Following Current Interest Rates Higher

Posted on | July 20, 2009 | 1 Comment

Please use Subprime Blogger to get all your information on Wells Fargo mortgage rates.  There is also a weekly column to give you the mortgage rates forecast you need.

Wells Fargo mortgage rates follow the overall trend of current interest rates and that remains the case today.  Mortgage interest rates are trending higher and it looks like that is going to continue.  The 10 year treasury rate yield has pushed up greatly in the last week, over 10%, causing interest rates to move up greatly.  If you were thinking about refinancing or getting that first mortgage under 5% you are going to have to think again.

There is a possibility that Wells Fargo mortgage rates could turn around and head lower in the next few months, but the 10 year treasury yield is definitely trending higher so this does not bode well for lower mortgage rates.  There is a very strong correlation between the 10 year treasury rate yield and the 30 year fixed mortgage rate.  When one goes higher, the other follows shortly thereafter.  With a strong uptrend in the 10 year yield visible, average mortgage interest rates are going to go higher.

If you have been considering going through the mortgage application process now might be the time.  If you wait a month or two, you could see daily mortgage rates over 6% which would defeat the purpose of refinancing for many current home owners.  Do your research, get educated on the subject and go get that low mortgage rate you always wanted before they shoot up again!

Please check out the daily Subprime Blogger rant; today I let Mr. Bernanke know how I feel:

Oh, so you are planning now for the “restoration of fiscal balance?”  I call bullshit!  The more statements that you make, the more I realize that you are full of shit Mr. Bernanke.  Printing money in an attempt to spend our way out of this recession has not worked in the past so why do you think it will in the future?

Read the entire article here: Ben Bernanke, Please let the Markets Set Interest Rates

Category: Wells Fargo Mortgage Rates
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One Response to “Wells Fargo Mortgage Rates Following Current Interest Rates Higher”

  1. Subprime Blogger / Wells Fargo Mortgage Rates Under 5% – How Much Will You Save?
    July 20th, 2009 @ 6:26 am

    [...] July 20th – The newest article on Wells Fargo mortgage rates is available here: Wells Fargo Mortgage Rates Following Current Interest Rates Higher.  Interest rates are currently in an uptrend that is likely to send average mortgage rates [...]

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