Jul 24, 2009
Wells Fargo Refinance Mortgage Rates - Interest Rates Moving Up
Wells Fargo refinance mortgage rates are sure to move higher in the near future as the 10 year treasury rate yield hovers around 3.7% in closing the week. We have seen a move from 3.3% to 3.7% in less than two weeks on the yield yet mortgage rates have not responded as expected. In a push higher like this, mortgage rates should be up at least .5% to .75%. Unfortunately it looks as if that is going to all come at once very similar to the way it did in late May.
It would not be a surprise at all if we saw the 30 year fixed rate mortgage move as much as a full percentage point in one day. This is very bad news for anyone who was planning to wait on refinancing or buy their first home. With the current situation, if you wait one day too long, you could lose as much as a percentage point on your home loan. With this knowledge, it is wish to go ahead and get that mortgage application in to Wells Fargo or whichever lender you plan on using. There are many options and now is the time to get a jump on the situation.
Overall, Wells Fargo refinance mortgage rates are sure to head higher in the very near future. Educate yourself on the current market and get out there and get a mortgage rate under 5.5% before it is too late!