Wells Fargo Refinance Mortgage Rates – March 30 Home Loan Rates Up Slightly
Posted on | March 30, 2010 | No Comments
Wells Fargo refinance mortgage rates are likely to go for a wild ride over the next few weeks and months. On March 30, 2010 home loan rates are up slightly to 4.95% for the 30 year fixed mortgage rate. With the Federal Reserve Bank concluding their mortgage-backed securities purchase program at the end of the month we are likely to see great volatility in interest rates.
Some analysts have predicted that mortgage interest rates are likely to rise at least one full percentage point after this program has been concluded. It will be very interesting to see how interest rates react in the coming weeks as there is a chance that we could see higher overall rates.
It is also the case that the 10 year treasury rate yield has broken through its 50 day moving average and looks to be heading much higher. This is very bad news for mortgage rates as the 10 year treasury rate yield and the 30 year fixed mortgage rate have had a very strong correlation since 1971.
Wells Fargo and most mortgage lenders have benefited greatly from the low interest-rate environment. It will be interesting to see how these lenders adjust as interest rates are likely to move higher in the very near future.
Author: Alan Lake
Comments
Leave a Reply