Wells Fargo Refinance Mortgage Rates – Mid May Average 30 Year Fixed Home Loans Remain at 4.5%
Posted on | May 16, 2011 | Comments Off
Over the last several weeks we have seen Wells Fargo refinance mortgage rates drop to new 2011 lows as the 10 year treasury rate yield remains below 3.2%. In mid-May we are seeing average 30 year fixed conventional mortgage rates around 4.5% for borrowers who have an amazing financial history.
It is extremely important to remember that not all Americans will be able to login to the lowest interest rates due to the fact that they must have a very good credit score in the low debt to income ratio. By making poor financial decisions in the recent past it will be very common for homeowners to find the interest-rate offers are slightly higher.
With this being true it is always advisable to make certain that high interest rate debts are paid down to the best of one’s ability. Even if individuals do not have a significant amount of excess cash is always smart to pay down the high interest rate loans and credit cards to make certain that a credit score remains impressive. This is also a reason why it is smart to not put a significant amount of emphasis on purchasing with a credit card.
As we get closer to the summer of 2011 it will likely be the case that the overall economy dictates interest rates. For the past several years it has been the case that the federal reserve bank is taking every necessary step to keep rates low but that could quickly change as the economy gets better.
But the unemployment rate continues to drop in the stock market makes multi-year highs each and every month than there is a strong possibility that we could see 30 year conventional mortgage rates move through 5%. With this in mind it may be a wise choice to do as much research as possible while interest rates are still at very attractive levels.
Author: Alan Lake
Tags: average fixed home loans > average wells fargo interest ratse > may average mortgage rates > wells fargo fixed home loans > wells fargo home loan ratse > wells fargo refinance mortgage rates