Wells Fargo Refinance Mortgage Rates – Fixed Interest Rates Move Up as 10 Year Yield Bounces Off March Lows
Posted on | March 24, 2011 | Comments Off
Last week the 10 year treasury rate yield hit 2011 lows but has recently bounced back up and is close to its 50 day moving average. With this being the case Wells Fargo refinance mortgage rates are very low but have moved up slightly due to the fact that the 10 year yield is approaching the all-important 50 day moving average.
If the 10 year treasury radio can accelerate through the 50 day moving average move much higher than there is very little doubt that mortgage rates will increase drastically over the next several weeks. With that being said the Federal Reserve is taking every necessary step to keep interest rates lower in the last several years so it may not be possible for this to happen quickly.
Many analysts have stated that the overall economy improves it will likely be the case that interest rates start to move higher. With the unemployment rate now below 9% and the stock market making multi-year highs each and every month there are many signs pointing towards economic growth which could push interest rates much higher at a quick pace.
With this in mind it may be a wise decision to take advantage of the low interest rate environment while it is available. Many Americans have made strong financial decisions over the last several years which will position them very well when it comes to working with lenders and banks. By having a credit score above 740 most people will find that there are many ways to save extra cash.
When refinancing home loan it is important to recognize that there are closing costs involved. Although these closing costs can often be covered by a reduction in interest rate is still the case that they are negotiable and can be reduced with a little bit of negotiating skills.
Author: Jeremy North
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