Aug 11, 2009
Wells Fargo Refinance Mortgage Rates - Interest Rates at 5.45%
AUTHOR: Colin Keller
Wells Fargo refinance mortgage rates have seen a bit of a stabilization after last weeks extreme run up. Last week the 10 year treasury yield moved up over 10% which sent mortgage rates soaring up over .4%. There is to be some slowing down expected this week but it seems that the up trend is in full swing. It looks as if mortgage rates are going to get to 6% before they get to 5%. This is very bad news for anyone who was waiting to refinance or buy their first home. It will be very interesting to see what higher mortgage rates does to the overall housing market.
Luckily there are still mortgage lenders out there who are advertising mortgage rates under 5%. While it is unknown if you can get rates this low, you will never know if you don’t ask. Most of the ads direct you to an 800 number where you can speak to a representative. You may not want to give the representative all of your financial information but it might be worth it to give them a call and see where mortgage rates are headed.
Congratulations on taking the first step in getting a lower mortgage rate. By doing the research you are well ahead of most home owners. The next step is to get out there and actually contact some lenders and see what type of mortgage rate you can get.