Wells Fargo Refinance Mortgage Rates – Home Loans Stay Low on March 4
Posted on | March 4, 2010 | No Comments
Wells Fargo refinance mortgage rates continue to baffle analysts by staying well below 5%. Home loan rates continue to stay low on March 4th as the 30 year fixed mortgage rate is at 4.75% while the 15 year fixed mortgage rate is at 4.15%. The 10 year treasury rate yield is higher this morning which points towards mortgage rates moving up ever so slightly.
Wells Fargo and all mortgage lenders continue their strong marking of the current home loan environment. With mortgage rates well below 5% there is no reason that many first time home buyers and current homeowners should not at least consider locking in to a low fixed rate at the present time.
By refinancing to a lower overall mortgage rate many Americans are saving hundreds of dollars on their monthly mortgage payment. Make sure that you understand that you will need a large amount of home equity and a very good credit score to get a mortgage interest rate under 5% in the current economic environment.
Unfortunately, there are many Americans who have seen their home equity dwindle as the value of their home has dropped. Make sure to think about this before you go into a mortgage lender expecting to refinance your current home loan rate to a level under 5%.
Author: Mike Garner
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