Wells Fargo Refinance Mortgage Rates – Mid May Fixed Home Loans Remain Attractive at 4.5% for Many Borrowers
Posted on | May 19, 2011 | Comments Off
Wells Fargo refinance mortgage rates have been a very hot topic in the mortgage lending industry due to the fact that fixed home loans are very close to an all-time low. In mid-May we are seeing 30 year fixed home loans around 4.5% for borrowers who have an amazing financial history.
It is very important to remember that Wells Fargo is one of the largest financial institutions in the country along with Chase, Bank of America and Citi but there are many other options available. By doing extensive research online most individuals will find that there are local and regional banks that are willing to go above and beyond and offer great customer service to go along with low rate offers.
With many mortgage lenders spread out the country most individuals will find that there are opportunities to received several interest rate quotes. This is always a very wise decision for those who are looking for a competitive interest rate they could end up saving them hundreds of dollars a month on a mortgage payment. There are also many free mortgage calculators to help crunch numbers and understand just how much money could be saved.
With the 10 year treasury rate yield getting very close to its 200 day moving average there many opportunities to save by refinancing. Since 1971 the 10 year treasury rate yield and the 30 year fixed mortgage of had a very strong correlation and that will likely continue deep into 2011.
With this in mind it may be a very wise choice to track the 10 year treasury rate yield when considering going to the refinance process. This may give some Americans an indication of where interest rates are headed in the very near future. If the 10 year treasury rate yield fund supported its 200 day moving average and starts to move higher that we can expect 30 year fixed mortgage interest rates to move up as well.
Author: Jeremy North
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