Wells Fargo Refinance Mortgage Rates – Home Loans Moving to 5% for Fixed Rates
Posted on | February 11, 2010 | No Comments
Wells Fargo refinance mortgage rates have been in a very narrow range of 4.8% to 5% for the 30 year fixed mortgage rate in 2010. After the treasury auction today we are seeing home loan rates move up and we could very well see the 5% level tested. In the entire year of 2010 we have yet to see 30 year fixed mortgage rates stay above 5%.
Wells Fargo and many other mortgage lenders have been marketing low mortgage rates very hard at the beginning of the year. Most of the time, the beginning of the year is when most families consider refinancing their current home or buying a new home. The year of 2010 has been a little bit different as refinancing activity is down drastically.
Over the last two years there have been a large amount of homeowners who have benefited from refinancing to lower mortgage rates. This means that there are not a great amount of homeowners who are looking to refinance in the present economic environment. The only way we are going to see an increase in refinance activity is if mortgage rates start to move higher and homeowners want to get the last few weeks of low rates.
Wells Fargo continues to work hard to gain new customers so do not be surprised to see their home loans division marketed on news networks and on the Internet. If you are looking to lock in to a low mortgage rate now is one of the best times in the history of the housing market.
Author: Tiffany Mann
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