Wells Fargo Refinance Mortgage Rates – September Home Loans Set to Reach Lowest Levels in History

Posted on | August 31, 2010 | No Comments

Wells Fargo refinance mortgage rates have been a very hot topic of discussion over the last several months as many Americans have seen the lowest mortgage interest rates in the history of the United States housing market. September home loans are set to continue lower which means that we could see 30 year fixed mortgage rates under 4.25%.


With this being the case there are many homeowners who stand to benefit greatly by going to the refinance process. It is important to understand that there are closing costs involved in the refinance process to the general rule of thumb is that homeowners must save at least one full percentage point to fully benefit. By not saving a full percentage point it is usually the case that closing costs outweigh the savings.

Over the last several weeks the majority of mortgage applications have been to refinance. It has been the case that almost 80% of total mortgage applications have been re-finance applications. Look for this to continue as first-time homebuyers sit on the sidelines and hope that home prices stabilize and the government offers more incentives such as another first-time home buyer tax credit.

Author: Alan Lake

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