Wells Fargo Refinance Mortgage Rates – First Time Home Buyers Help the Housing Market in April 2010
Posted on | April 27, 2010 | Comments Off
There is a very good chance that we could see first time home buyers help the housing market in April 2010. With Wells Fargo refinance mortgage rates extremely low, home prices very affordable, and an $8000 tax credit available it is very likely that many first time home buyers will purchase a home in April of 2010.
At the end of this week the first time home buyer tax credit will expire which means that many first time buyers will likely flood the market over the next few days. With many incentives available to buy a new home in April first time home buyers will likely stabilize or push home prices higher.
Wells Fargo and most mortgage lenders have greatly benefited from the current low interest rate environment. Each and every day these lenders add new customers which in turn will produce profits in the future. Customers have greatly benefited because low interest rates mean lower monthly mortgage payments.
Over the next few months it will be very interesting to see how the mortgage industry adjusts with no first time home buyer tax credit and the possibility of mortgage rates moving higher. Many analysts have predicted that mortgage rates will move up in the very near future which could cause many problems in the housing market.
Author: Alan Lake