Wells Fargo Refinance Mortgage Rates – April 1 Home Loan Rates Up Again
Posted on | April 1, 2010 | No Comments
Wells Fargo refinance mortgage rates have seen quite an adjustment over the last few weeks. On April 1st, 2010 we are seeing home loan rates up again. Since the middle of last week we have seen the 30 year fixed mortgage rate move from 4.75% all the way up to 5.05%. It will be very interesting to see if this trend continues.
Many analysts have predicted for quite some time that mortgage interest rates were likely to move up in the spring of 2010. With the Federal Reserve Bank no longer purchasing mortgage backed securities and the 10 year treasury rate yield increasing it comes as no surprise that mortgage interest rates could move up.
Wells Fargo and almost all banks and lenders have benefitted greatly from the current low interest rate environment. Now that low mortgage rates could be coming to an end it will be very interesting to see how these companies react. With mortgage rates moving up there is going to be less interest from homeowners and new home buyers.
At the present time the average for the 30 year fixed mortgage rate is sitting right at 5%. It would be smart to take advantage of these low rates as they may not last much longer. Before you know it we could be looking at 6% mortgage rates.
Author: Jeremy North
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