Wells Fargo Refinance Mortgage Rates – Lowest Rates in March 2010?
Posted on | March 15, 2010 | No Comments
There is a chance that the lowest rates in March of 2010 could be the lowest rates we see for the entire year. Wells Fargo refinance mortgage rates have been between 4.7% and 5% for much of 2010 and at the present time we are seeing the 30 year fixed mortgage rate around 4.75%.
With mortgage rates extremely low there are many opportunities to refinance and save a large amount of money. It is very important to note that you will need a significant amount of equity in your home and a very good credit score to have any opportunity to get a mortgage rate around 4.75%.
Just because you cannot get a mortgage rate at these low levels does not mean that you will not benefit from refinancing in the current low interest rate environment. The general rule of thumb is that you must save at least one full percentage point on your home mortgage interest rate to benefit from refinancing today.
If you can save this one full percentage point you are not only get to cover closing costs but you are also going to see significant savings in the very near future on your monthly mortgage. This is something to consider if you are currently struggling with your monthly mortgage payment.
Author: Alan Lake
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