Wells Fargo Refinance Mortgage Rates – Interest Rates Much Higher on March 26
Posted on | March 26, 2010 | No Comments
For the entire year of 2010 we have seen Wells Fargo refinance mortgage rates at or below 5%. Over the last two days we have seen mortgage rates jump from 4.75% to 5.05%. On March 26, 2010 we are seeing the 30 year fixed rate around 5%.
Wells Fargo and most mortgage lenders have worked very hard to promote their home loans division over the last several months. It is very likely that they have benefited by gaining new customers. These customers have benefited by getting lower monthly mortgage payments.
It will be very interesting to see how these mortgage lenders react when home loan rates start to move higher. Many analysts have predicted that the spring of 2010 was going to be the bottom for fixed refinance mortgage rates. This is a very strong possibility as we have seen rates bounce much higher.
If you have been considering refinancing or buying a new home it might be wise to take advantage of low rates now while they are still available. If you continue to wait you could see 6% mortgage rates from most mortgage lenders.
Author: Alan Lake
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