Aug 6, 2009
Wells Fargo Refinance Mortgage Rates - Interest Rates Up in Early August
AUTHOR: Colin Keller
Wells Fargo refinance mortgage rates continue to trend in the same pattern they did throughout much of July. The range from 5.1% to 5.3% continues to remain. The bad thing is that Wells Fargo mortgage rates are currently on the top end of that trend as mortgage rate are around 5.3%. Just last week we saw mortgage rates get down to 5.05% but now they have seemed to reverse and are heading higher. It will be very interesting to see if we bust out to the upside in the near future. If we do, we could very well see mortgage rates of 6%.
If you have been thinking about refinancing or getting your first mortgage, now might be as good of a time as ever. With mortgage rates poised to make a move higher, you do not want to miss out on average mortgage rates being below 5.5%. If you wait a few months or even a few weeks, you could see mortgage rates move up an entire percentage point. Luckily there are many mortgage lenders advertising rates well below 5%. Many of these ads direct you to an 800 number in which you can speak to a representative. You might not want to do your mortgage through that company but it would be smart to at least call and find out what types of rates they are offering.
Congratulations on taking the first step in getting lower mortgage rates. The next step is to get out there and contact some lenders to see what type of interest rates they are offering at the present time. You will never know if you don’t ask!