Wells Fargo Refinance Mortgage Rates – Final February Weekend Home Loans at 4.75% for 30 Year Fixed
Posted on | February 25, 2011 | No Comments
Wells Fargo refinance mortgage rates are currently very close to the February 2011 low as 30 year conventional rates are around 4.75%. Heading into the final weekend of February it will be very instinct to see how many Americans look to save money by going to the refinance process and reducing the home loan interest rate.
The 10 year treasury rate yield has recently dropped below its 50 day moving average which has helped to push 30 year fixed mortgage rates below 4.8%. Since 1971 the 10 year treasury rate yield and the 30 year conventional mortgage have had a very strong correlation and this will likely continue well into the future as the Federal Reserve Bank is no longer going to keep interest rates historically low.
Some analysts and economists have predicted for quite some time that the overall economy improves it will likely be the case that that 10 year treasury rate yield moves up which in turn will push mortgage rates up. With this in mind it may be a very wise decision to take advantage of the current low mortgage rates as there is a strong possibility that we could see 30 year fixed rates above 5% in the spring.
Remember that Wells Fargo is currently one of the largest mortgage lenders in the country along with Citigroup, Chase and Bank of America but there are definitely other mortgage lending options at the local, regional and national level. With over 7000 FDIC insured banks throughout the country it should not be difficult to find a mortgage lender that will be willing to work for the benefit of the customer.
When it comes to saving money to the refinance process is often the case that homeowners should desire to save at least one full percentage point. By saving that one full percentage point homeowners will know that their breakeven month is in the near future which will allow them to see great savings on a monthly payment.
Author: Mike Garner
Tags: home loan interest rates > home loan mortgage rates > wells fargo february mortgage rates > wells fargo home loan rates > wells fargo home loans > wells fargo refinance
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