Wells Fargo Refinance Mortgage Rates – Home Loan Rates Jump
Posted on | February 20, 2010 | No Comments
Wells Fargo refinance mortgage rates have been below 5% for the entire year of 2010 but lately we have seen home loan rates jump. The conventional 30 year fixed mortgage rate is up to 4.95% while the 15 year fixed mortgage rate is up to 4.3%. While these levels are still very low they are off the 2010 lows.
Wells Fargo and many mortgage lenders have done an amazing job or marketing their home loan divisions. President Obama has worked very hard with the Federal Reserve Bank to keep interest rates low which is good for both lenders and borrowers. Many Americans have saved by refinancing by many more could still save extra money.
There are many free mortgage calculators available online that could help you to determine just how much money you are going to save. It is very important to note that there are closing costs involved in refinancing so you will need to calculate that into the equation. The general rule is that you must save one full percentage point to cover closing costs.
WIth Wells Fargo and almost every other mortgage lender marketing their services now is the time to do research. Make sure to contact several lenders as you may find one that works a little bit extra to please you as a new customer.
Author: Alan Lake
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