Wells Fargo Refinance Mortgage Rates – Fixed 15 and 30 Year Home Loans Remain Near 2011 Lows
Posted on | June 28, 2011 | Comments Off
On Tuesday, June 28th, 2011 we are seeing 30 and 15 year fixed mortgage rates move slightly higher but still very close to 2011 lows. We are seeing 615 year rates around 3.55% while 30 year fixed rates are around 4.35%. Many homeowners will seek Wells Fargo refinance mortgage rates in the near future as they hope to save a significant amount of cash.
It is important to note that Wells Fargo is one of the largest financial institutions in the country along with J.P. Morgan Chase, Citigroup and Bank of America but these are not the only options when it comes to locking in lower rates. By doing extensive research on line most will find that there are many opportunities to find banks in a local or regional area.
As of June 28, 2011 the FDIC insures over 7000 financial institutions so it should not be overly difficult to find interest rates and very attractive levels. By doing extensive research most homeowners will find that there are local and regional lenders that will be more than willing to go above and beyond to help when it comes to receiving great customer service to go along with attractive interest-rate offers.
It is very important to note that not all Americans will have an opportunity to refinance to the lowest possible rates. The general rule of thumb is that homeowners must have a credit score above 740 and a debt to income ratio below 40% to have any opportunity to lock in the 30 year fixed mortgage rates under 4.5% in June or July of 2011.
With this in mind it may be a very wise decision to pay down high interest rate debts to the best of one’s ability. By paying down the debt some homeowners could end up improving their credit score by as much as 100 points which in turn would help them qualify for the lowest 30 year fixed mortgage interest rates at the present time.
Author: Jeremy North
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