Wells Fargo Refinance Mortgage Rates – 15 Year and 30 Year Fixed Loan Rates Up
Posted on | February 22, 2010 | No Comments
Wells Fargo refinance mortgage rates have been very low for the entire year of 2010 but home loan rates are starting to move up. The averages for 15 year and 30 year fixed loan rates have increased since the beginning of last week. The 30 year fixed mortgage rate is up to 4.95% while the 15 year fixed mortgage rate is up to 4.3%.
The reason that refinance mortgage rates are moving higher is because the 10 year treasury rate yield has started to move well above its 50 day moving average. At the middle of last week the 10 year yield pushed much higher which caused mortgage interest rates to move up as well. We could see the highs for 2010 sometime this week when it comes to mortgage rates.
Wells Fargo and most mortgage lenders have benefitted from the current low interest rate environment. Many Americans have looked to refinance or buy their first home with mortgage rates being very close to all time lows. If mortgage rates start to move higher then you can bet there will be much less interest in the housing market.
There are many free calculators available online that can help you determine just how much money you will save by locking into a low refinance mortgage rate today. It would be wise to do some analysis before going through the entire application process.
Author: Mike Garner
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