Wells Fargo Refinance Mortgage Rates -15 Year Fixed Rate Low in 2010
Posted on | December 25, 2009 | No Comments
Wells Fargo refinance mortgage rates are very attractive at the present time. The 15 year fixed rate mortgage has been around 4.25% for much of the final quarter of this year. There is a very good chance that the 15 year fixed rate will remain low in 2010 as the Federal Reserve Bank plans to continue to buy mortgage-backed securities until at least the end of March.
After the Fed concludes their mortgage-backed securities purchase program no one knows where mortgage rates will go but there’s a very good possibility that they will move higher. With this in mind it is a very good idea for you to consider refinancing today rather than waiting until after this program is over. You do not want to miss out on mortgage interest rates that are very close to all-time lows.
Wells Fargo and many of the other large banks continue to advertise low interest rates on the Internet and television. If you simply do some Google searches you are likely to find that there are many lenders out there that are willing to help you get a low mortgage interest rate on your current mortgage or on a future mortgage. Please do not think that you are limited in this search as there are many companies out there that will be willing to help you.
Before deciding that refinancing your current home is the right decision for you it is extremely important to analyze your current financial situation. If you are under water in your home and have a credit score below 650 then there is a good chance that you will not get a refinance rate that is attractive to you. There is also a good chance that many lenders will turn their cheek and not even consider you for a refinance.
If this is the case then it would be a good idea for you to address your financial situation by paying off debts and making sure all your bills get paid on time. It is extremely important to increase credit score to a level above 740 if you want that very low refinance rate that is being advertised in the media today. By paying off those high interest debts you will increase your credit score over time.
Author: Jeremy North
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