Wells Fargo Refinance Mortgage Rates – Phoenix and Las Vegas Still Struggling
Posted on | March 5, 2010 | No Comments
Wells Fargo refinance mortgage rates have been very low for the entire year of 2010 but if your home is underwater there is very little you can do to take advantage of these low interest rates. Both Phoenix and Las Vegas continue to struggle when it comes to home prices making it almost impossible for some home owners to refinance.
At the present time we are seeing the 30 year fixed mortgage rate around 4.75% and the 15 year fixed mortgage rate around 4.15%. Wells Fargo along with most mortgage lenders are working hard to promote these low mortgage rates but if homeowners cannot have access to these low rates little can be done.
Obviously there are many housing markets that are starting to see a recovery in home prices and many of these homeowners will benefit from refinancing to low interest rates today. Some homeowners have found that they can save hundreds of dollars on their monthly mortgage payment by going through the refinance process.
Before starting the refinance process you must make certain that you have equity in your home. Having little to no equity is going to make it extremely hard for you to get low mortgage rates at the present time. By getting an appraisal you may know better if refinancing is an option for you.
Author: Mike Garner
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