Wells Fargo Refinance Mortgage Rates – February 2011 Treasury Yield Rates Sink Push 30 Year Home Loans to 4.7%
Posted on | February 28, 2011 | No Comments
At the end of February 2011 we are seeing 10 year treasury rate yields below their 50 day moving average which in turn has pushed refinance mortgage rates to new monthly lows. At the present time we are seeing the 30 year fixed mortgage rate at 4.7% and the 15 year fixed mortgage rate slightly below 4%.
Wells Fargo refinance mortgage rates have been on quite the roller coaster ride over the last several months as the 10 year treasury rate yield rose to 2011 highs in early February before breaking down and dropping below its 50 day moving average. It will be very interesting to see if the 50 day moving average holds his support in the very near future.
If the 50 day average holds his support in the 10 year yield pushes much higher than there is a very good chance that we could see 30 year fixed mortgage rates move their way back towards 5% and possibly even higher. Many analysts have predicted that as the economy improves it will likely be the case that interest rates move much higher.
It is important to recognize that not all American homeowners have the ability to login to the lowest possible mortgage interest rates. It takes a very good credit history and a low debt to income ratio to have any opportunity to lock in to the lowest rates. By having a debt to income ratio that is below 40% and a credit score that is below 720 it will be very difficult for homeowners to receive low-interest rate quotes in February or March of 2011.
As we get deeper into March in the spring of 2011 we will better understand where mortgage rates are headed. By keeping up with the 10 year treasury rate yield most will have a strong prediction of where rates are headed due to the fact that the 10 year treasury rate yield and a 30 year fixed mortgage of had a very strong correlations since 1971.
Author: Alan Lake
Tags: february 2011 home loan rates > february 2011 mortgage rates > wells fargo home loan rates > wells fargo home loans > Wells Fargo Mortgage Rates > wells fargo refinance mortgage rates
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