Aug 13, 2009
Wells Fargo Refinance Mortgage Rates - Interest Rates Stable at 5.3%
AUTHOR: Colin Keller
Wells Fargo refinance mortgage rates have been stable around 5.3% for much of this week. Interest rates show great volatility last week so it was to be expected that we would not see much movement this week. It still seems that there remains an up trend in mortgage rates that is likely to help push the 30 year fixed mortgage rate towards 6%. It could be a slow and gradual clime or it could be very quickly; no one really knows.
If you have been thinking about refinancing or getting your first mortgage, it would be advisable to speed up the process because mortgage rates are going to go higher. In September the Federal Reserve Bank is going to stop buying US treasuries which is likely going to send mortgage rates up. There are still many mortgage lenders out there that are advertising mortgage rates under 5% so it would be a good idea to contact some of these lenders. If you wait too long, you may be looking at mortgage rates around 6%.
Congratulations on taking the first step in getting a lower mortgage refinance rate. The next step is to get out there and actually contact some of the lenders that offer these low rates. You will never know what interest rate you will get if you never ask!