Wells Fargo Refinance Mortgage Rates – Fixed 30 Year July Loan Rates Dip to 4.25% For Many High Credit Score Borrowers
Posted on | July 14, 2011 | Comments Off
Wells Fargo refinance mortgage rates have been a very attractive levels for quite some time as the 10 year treasury rate yield has remained below 3.5%. On July 14, 2011 we are seeing the 10 year treasury rate yield as low as 2.9% which has helped good credit score borrowers locked into refinance rates around 4.25%.
While Wells Fargo is one of the largest financial institutions in the country along with Citigroup, J.P. Morgan Chase and Bank of America is still the case that there are many options available. By scouring the FDIC search website customers will find that there are over 7000 institutions insured by the federal government. Finding a lender at the local, regional or national level should not be very difficult.
As we get closer and closer to the fall of 2011 they should come as no surprise to see interest rates start to move higher. As the overall economy improves and the unemployment rate drops it is hard to imagine the interest rates will stay well below 5%. With this in mind it may be a very wise choice to take advantage of the low interest rate environment while it is available.
Luckily, the HUD website offers many free resources that should help individuals when it comes to better understanding each and every step of the refinance process. Unfortunately, some Americans go through the entire refinance process without realizing that they can negotiate lower costs and fees which could save a significant amount of money down the road.
Over the next several weeks it will be very interesting to see just how many refinance applications are submitted as a 30 year fixed mortgages close to 2011 lows. For individuals who have a credit score above 740 and a debt to income ratio below 40% there several opportunities to save money in the current refinance environment.
Author: Alan Lake
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