Wells Fargo Refinance Mortgage Rates – Home Loans Low and a First Time Home Buyer Tax Credit Expiration
Posted on | April 29, 2010 | Comments Off
Wells Fargo refinance mortgage rates remain at very low levels and many first time home buyers are flooding the market with the expiration of the first time home buyer tax credit coming on Friday, April 30th, 2010. At the present time we are seeing 30 year fixed mortgage rates around 4.9% and 15 year fixed mortgage rates around 4.3%.
It is very important for first time home buyers to understand that not everyone will qualify for a mortgage rate this low. You will need a credit score above 740 and a solid credit history to have a chance at mortgage rates in this range. With a lower credit score you are going to see higher interest rate offers.
Wells Fargo and almost every single mortgage lender has benefitted from the current low interest rate environment by adding customers. These customers have benefitted by getting low mortgage rates which in turns means lower monthly mortgage payments. By saving money on a mortgage you could add to your savings to buy some of the other luxuries in life.
Author: Alan Lake