Economic Conversation

After several weeks of 5.25% mortgage rates, could we see refinance rates at 5% or below in the very near future?  President Obama and his staff have done everything possible to keep mortgage interest rates as low as possible and it seems to be working.  It used to be the case that mortgage rates followed the 10 year treasury rate yield, but that seems like it is not happening any more as mortgage rates have remained under 5.5% for almost the entire year of 2009.  Are we going to see interest rates under 5% again soon?

If you have been considering refinancing or getting your first mortgage, now might be as good of a time as ever as mortgage rates are at historical lows.  President Obama has done what it takes to get you a mortgage rate that is below 5.5% so take advantage of it.  Luckily, low mortgage rates have caused most mortgage lenders to advertise all over the television and Internet.  Some of these advertisements are stating rates under 4.5%.  While this is unlikely to happen for you, you never know until you actually give them a call and see what they have to offer you.

You have taken the first step in getting low Wells Fargo mortgage rates by starting the research step.  The next plan of action would be to contact some mortgage lenders and see what type of deals they have going on and if you can get a mortgage rate under 5.5%.  You will never know until you try!