Wells Fargo Refinance Mortgage Rates – 10 Year Yield Dips Causing 30 Year Home Loans to Drop to 4.25% Today
Posted on | September 20, 2011 | Comments Off
Yesterday we saw the 10 year treasury rate yield dip below 2% which in turn push 30 year fixed mortgage rates very close to 4.25% again. With this in mind more American homeowners have a very good opportunity of saving money by completing the refinance process as soon as possible.
Many of these same individuals continue to look for Wells Fargo refinance mortgage rates but they must acknowledge that there are many opportunities available in September of 2011. By accessing the FDIC search Web tool most will find many free resources that allow them to search for banks and their specific area.
Since 1971 the 10 year treasury rate yielded a 30 year fixed mortgage has had a very strong correlation. It is important to note this when doing research on interest-rate trends and predictions. By tracking the 10 year treasury rate yield many will be able to much better understand where mortgage rates are headed in the near future.
It is also important to recognize that individuals should save at least one full percentage point if they hope to benefit from the refinance process. Unfortunately, some Americans do not recognize that saving less than one full percentage point will likely mean the closing cost greatly outweigh benefits and there are no true savings.
Over the next several weeks it will be very interesting to see what happens with the overall interest rate market. The Federal Reserve Bank has stated multiple times that they’re willing to keep interest rates low until at least 2013 but this is only the case if big economy continues to struggle. If the unemployment rate dips quickly and the stock market reaches new multi-year highs and there is a chance that we could see interest rates start to move up.
Author: Alan Lake
Tags: home loan fixed rates > home loan interest rates > refinance mortgage rates > wells fargo home loan rates > wells fargo refinance mortgage rates > wells home loan rates > wells refinance mortgage rates