Wells Fargo Refinance Mortgage Rates – Fixed 30 Year Mortgage Interest Rates Dip to 4.25% Today
Posted on | June 20, 2011 | Comments Off
For the last several months millions of American homeowners have had the opportunity to refinance to low rates which is help them save a significant amount of money. By taking advantage of Wells Fargo refinance mortgage rates some homeowners have had an opportunity to save thousands when completing this process.
On June 20, 2011 we are seeing 30 year fixed mortgage interest rates very close to 2011 lows as the 10 year treasury rate yield is down to 2.95%. Average 30 year fixed rates are around 4.25% for borrowers who have an amazing financial history. It is important to note that not all borrowers will receive the lowest interest rate offers at the present time.
To receive the lowest mortgage interest rates as is often the case that customers will need a credit score that is in excess of 740. Unfortunately, many Americans have made poor financial decisions in the recent past which makes it nearly impossible to improve a credit score to this level.
The only way individuals will increase their credit scores by greatly reducing their debt to income ratio. By having a debt to income ratio that is about 40% of likely be true that mortgage lenders are not willing to offer the lowest interest rates. By having a significant amount of debt most mortgage lenders will think that borrowers are very risky and they do not want to relive the credit crisis.
It is also important recognize that Wells Fargo is one of the largest financial institutions in the country but definitely not the only option when it comes to locking in low mortgage interest rates. By doing research online most will find that there are a large number of local, regional and national lenders that can help when it comes to refinancing a home in June of 2011.
Author: Jeremy North
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