Wells Fargo and Bank of America Average 30 Year Fixed Refinance Rates Dip to New Lows on September 25, 2011
Posted on | September 25, 2011 | Comments Off
Over the last several weeks we have seen the 10 year treasury rate yield dropped to a level that is below 1.8% which means 30 year fixed mortgage rates are currently sitting at a level close to 4%. Many hard-working Americans will likely seek Wells Fargo and Bank of America refinance mortgage rates as they hope to save money.
With average fixed 30 year home loan rates around 4% many American stand to benefit greatly by going to the refinance process as soon as possible. On September 23, 2011 the large number of individuals are finding that refinance rates are sometimes below 4% if they have a very good financial history.
Taking the time and effort to do extensive research on financial situation often proves greatly beneficial for those looking to save money. Luckily, the government offers a free annual credit report to all Americans which should help them recognize any mistakes or errors that could negatively affect a credit score.
Over the next several weeks it will be interesting to see just how many refinance applications are submitted. With 30 year fixed mortgage rates close to 4% it should come as no surprise to see many American homeowners submitting refinance applications to several different lenders in the very near future.
While Wells Fargo and Bank of America are two of the largest financial institutions in the country it is important to recognize that there are many options available in September of 2011. The FDIC currently insures over 7000 financial institutions and many of these same banks and lending institutions offer home loan products. It is important to recognize that individuals should desire to save at least one full percentage point if they hope to benefit from the refinance process.
Author: Alan Lake
Tags: bank of america refiannce > bank of america refinance rates > fixed home loan rates > home loan interest rates > refinance mortgage interest rates > wells fargo home loan rates > wells fargo refinance mortgage rates