Wells Fargo Refinance Mortgage Rates – June 30 Fixed Home Loan Rates Move Up to 4.5% for Customers Nationwide
Posted on | June 30, 2011 | Comments Off
In the last 48 hours we have seen the 10 year treasury rate yield push up to 3.1%. This in turn has pushed 30 year fixed mortgage rates up to 4.5% for many borrowers spread throughout the United States. When seeking the lowest home loan refinance interest rates on June 30 it is important to note that many lenders are reporting rate slightly higher than earlier in the month.
Wells Fargo refinance mortgage rates have been a very hot topic over the last several months as millions of Americans are looking to save money by completing the refinance process. While Wells Fargo is one of the largest financial institutions in the country it is very important for every American homeowner to recognize that there are many banks available at the present time.
By doing research on the FDIC search website customers will find that there are over 7000 institutions spread throughout the country. It is always a wise choice to look up banks at the local, regional and national level as this will give individuals an opportunity to receive several competitive interest rate quotes.
As we head into the fall of 2011 it will be very interesting to see what happens with the overall 10 year treasury rate yield. If the 10 year treasury rate yield can accelerate through its 50 day and 200 day moving average that we could see a new uptrend starting. This new uptrend could help push 30 year fixed mortgage rates back above the 5% mark.
With this being a possibility it may be wise to take advantage of the low interest-rate environment while it is available. The general rule of thumb is that homeowners should desire to save at least one full percentage point if they hope to fully benefit from the refinance process. By not saving this one full percentage point most homeowners will find that closing costs outweigh benefits and it makes the refinance process pointless.
Author: Jeremy North
Tags: home loan interest rates > june mortgage interest rates > wells fargo home loan rates > wells fargo home loans > wells fargo june rates > wells fargo refinance mortgage rates