Wells Fargo Refinance Mortgage Rates – Today’s Home Loan Interest Rates Up to 4.4% Before the Weekend

Posted on | November 19, 2010 | No Comments

Wells Fargo refinance mortgage rates have been on quite a roller coaster ride over the last two weeks as we have seen highs of 4.4% and lows of 4.0% for the 30 year fixed mortgage. Today’s home loan interest rates are up to the November highs before the weekend that is set up to be a huge Christmas holiday shopping weekend.


There is very little doubt that millions of Americans will think about Christmas shopping over the next two months but it may also be the case that they think about their personal finances. It is a common theme for Americans to spend a little bit more money during the month of November and December as they do Christmas shopping for their loved ones. With that being said it is also a time to think about saving a little bit of extra cash in other ways.


Even though today’s home loan interest rates are near November highs they are still very low when looking at a historical chart of mortgage interest rates. We have never seen 30 year fixed mortgage rates below 5% for such a long period of time. Many homeowners have already saved hundreds of dollars on a monthly mortgage payment and it may be possible for many others to do so as well.


The general rule of thumb is that homeowners must save at least one full percentage point to fully benefit from the refinance process in November of 2010. By saving this one full percentage point it is often the case that closing costs are covered and immediate savings will be seen in the form of much lower monthly mortgage payments.

If a full percentage point is not saved it is the case that closing costs outweigh benefits and it will be a struggle to see great savings due to the fact that the lower monthly mortgage payment is not significant. There many mortgage calculators available online to help homeowners better understand just how much they can save with a specific mortgage interest rate quote.

Author: Heather Best

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