Wells Fargo Refinance Mortgage Rates – Today’s Lowest 30 Year Home Loans Slightly Under 5% for Many Borrowers
Posted on | April 15, 2011 | Comments Off
Over the last several years millions of Americans have had an opportunity to refinance home loans to very low rates as 30 year fixed mortgage rates have been well below yearly averages. What the present time Wells Fargo refinance mortgage rates are around 4.75% for the 30 year fixed but it is important to recognize that only the best borrowers can receive these low rates.
After doing a little bit of research most Americans will find that it takes a credit score above 740 and a debt to income ratio that is well below 40% to have any opportunity to lock in to the lowest possible interest rates. Unfortunately, many Americans have seen their credit score dropped over the last several years which has made it quite difficult to walk into the lowest rates with any mortgage lender.
While Wells Fargo is currently one of the largest lenders in the country along with Bank of America, Chase and Citi it is important to recognize that there are many other options available as well. With over 7000 FDIC and sure banks throughout this country there are multiple options when it comes to refinancing home loan in April 2011.
As we get closer and closer to the summer of 2011 there is a very good chance that we could see interest rates start to rise quickly. As the overall economy improves and the unemployment rate continues to drop many analysts feel that we are going to see mortgage rates quickly breakthrough 5% and start moving toward 6%.
With this being a strong possibility it is always advisable to at least consider refinancing at the present time. By doing a significant amount of research on the HUD website Americans will likely find that there are several negotiating steps that will allow them to save a little bit of extra cash by simply contacting several mortgage lenders in getting a competitive advantage.
Author: Mike Garner
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