Wells Fargo Refinance Mortgage Rates – December 10 Home Loans Hit 4.75% for Homeowners Nationwide
Posted on | December 10, 2010 | No Comments
Over the last four weeks Wells Fargo refinance mortgage rates have been on a roller coaster ride as 30 year fixed rates were as low as 4.0% and today they are around 4.75%. On December 10, 2010 American homeowners are finding that home loan interest rates are much higher than just one month ago. Much of this is due to the fact that the 10 year treasury rate yield has accelerated higher.
Since the first week of November we have seen the 10 year yield move up from 2.5% all the way up to 3.25%. This move higher helped many to predict mortgage rates on the rise in the very near future. With 30 year fixed mortgage rates now at 4.75% there is a very good chance that we could see rates even higher heading into 2011.
Before going to the refinance process it is always a very smart decision to see what options are available. If that is the case that homeowners can not save at least one full percentage point by going to the refinance process that it might not be a wise decision to make this leap. It is generally the case that at least one full percentage point must be saved to cover closing costs.
As we get closer to the Christmas holiday shopping season it will likely be the case that millions of Americans begin to think about travel and spending time with family rather than personal finance. Even though this is the case there still many thrifty Americans who will look to save as much money as possible before mortgage interest rates rise all the way to 5%.
In January of 2011 and will be very interesting to see how many Americans consider refinancing as there is a very good possibility that we could see 30 year fixed rates above 5%. Over the last two years we have seen mortgage rate strop almost each and every month but that may be changing as the overall economy looks to be recovering.
Author: Mike Garner
Tags: december home loan rates > december refinance mortgage rates > home loan rates today > wells fargo home loans > Wells Fargo Mortgage Rates > wells fargo refinance rates
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