Wells Fargo Refinance Mortgage Rates – Interest Rates Going Up
Posted on | December 22, 2009 | No Comments
Wells Fargo refinance mortgage rates are up significantly since the beginning of December. Mortgage interest rates have moved higher as the 10 year treasury rate yield has pushed from 3.2% all the way up to 3.7%. This has caused the 30 year fixed-rate mortgage to move from 4.49% all the way up to 4.85% in just a few weeks. If you are hoping to time the bottom of mortgage rates you might be just a little bit too late.
Many homeowners are trying to refinance at the lowest possible rate but sometimes this is going to be too risky for you. If you have no insider information or knowledge of the current mortgage market or treasury yield market then it is extremely difficult for you to be able to time mortgage rates at the exact bottom. When you try to do this you’re likely to miss your chance to refinance at an extremely low mortgage interest rate.
We are currently seeing the 30 year fixed mortgage rate below 5% which is very low when looking at a historical chart of mortgage rates. If you are in the market to refinance now is one of the best times in history as there are great incentives to complete this process today. You could end up saving hundreds of dollars a month on your mortgage payment which in turn could help you get out of other debts much quicker.
Wells Fargo has advertised very hard in this low interest-rate environment. When you go to a financial news site or watch any news program on television you are likely to see a Wells Fargo advertisement. This means that they are working very hard to get your business and want you to consider them to be your mortgage lender. There are many other options including Wells Fargo so it might be a good idea to look at the competition.
If now is the time in your life when refinancing is right then it is a very good idea to do your research and find out what is available for you. If you have a good credit score and equity in your home then you are going to find mortgage interest rates below 5% from many different mortgage lenders. Take advantage of this opportunity now is you don’t know how long it will last.
Author: Mike Garner
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