Wells Fargo Refinance Mortgage Rates – April 28 Home Loans Remain Under 4.75% for Many Borrowers Nationwide
Posted on | April 28, 2011 | Comments Off
After the announcement by the Federal Reserve Bank yesterday it is the case that many Americans realize that interest rates will remain low for an extended period of time. With this in mind many individuals are waiting patiently for Wells Fargo refinance mortgage rates to drop to all-time lows but it may be a wise decision to take advantage of low interest rate opportunities today.
On April 28, 2011 we are seeing that 30 year fixed home loans are around 4.65% for borrowers who have a strong credit history. Unfortunately, many Americans have made poor financial decisions over the last several years which makes it very difficult to lock in the lowest interest rates. By having a credit score below 650 it is almost impossible to receive a rate quote under 5%.
With this in mind it is always a wise choice to pay down high interest rate debts and make sure all bill payments are made on time and in full. Unfortunately, any missed bill payment can negatively affect your credit score which in turn can make it very hard to lock into low rates from any major mortgage lender including Wells Fargo.
Wells Fargo is currently one of the four largest mortgage lenders in the country along with Bank of America, Citigroup and J.P. Morgan Chase. Even though these are the largest financial institutions it is important to recognize that they are many options as there are over 7000 FDIC insured banks throughout the country. By doing research online most will find that there are many regional and local banks that can help when it comes to refinancing home loan.
As we get closer to the summer of 2011 many analysts continue to predict that interest rates could rise as the economy improves. The Federal Reserve Bank will likely take their foot off the gas pedal when it comes to keeping interest rates low as soon as the unemployment rate drops drastically. With the unemployment rate down 8.8% there are signs that the economy is improving.
Author: Jeremy North
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