Wells Fargo Refinance Mortgage Rates – Daily Mortgage Interest Rates Moving Higher
Posted on | April 8, 2010 | Comments Off
Wells Fargo refinance mortgage rates have went for quite a ride over the last week. In the last week we have seen daily mortgage interest rates move higher from 4.75% all the way up to 5.15%. Today we are seeing 30 year fixed mortgage rates around 5.05%.
At the beginning of the year many analysts had predicted that mortgage rates were likely begin to rise in the spring of 2010. This looks to be exactly what is happening as the 10 year treasury rate yield is accelerating higher and the Fed has stopped purchasing mortgage-backed securities.
It will be very interesting to see what happens with mortgage rates over the next several weeks as there is a strong possibility that we could see the 30 year fixed mortgage rate move all the way up to 5.5%. This is likely to scare many homeowners and they may scramble to refinance as soon as possible.
If you have been looking to refinance over the last several months and you are hoping for lower mortgage rates it might be wise to contact your lender today and get started as soon as possible. If you continue to wait you could be looking at much higher mortgage rates.
Author: Alan Lake