Wells Fargo Refinance Mortgage Rates – March 31 Home Loan Rates Nearing 5%
Posted on | March 31, 2010 | No Comments
Wells Fargo refinance mortgage rates have been below 5% for quite some time but on March 31 we are seeing home loan rates nearing the 5% mark. At the present time we are seeing 30 year fixed mortgage rates at 4.95% which is very close to the 2010 high.
It will be very interesting to see what happens in the month of April as the Federal Reserve Bank plans to stop purchasing mortgage-backed securities and the 10 year treasury rate is moving higher in an up trend. These are two signs that mortgage rates could move higher.
Some analysts have predicted that mortgage rates could move all the way up to 6% in the month of April. This would be very bad news for those homeowners who have waited for mortgage rates to drop below 4.75%. They may have waited too long as mortgage rates could move up quickly.
Wells Fargo and most mortgage lenders have done a great job of marketing their home loans division. It’ll be interesting to see how they adjust their strategy if mortgage interest rates move all the way up to 6%.
Author: Jeremy North
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