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Wells Fargo mortgage rates could very well have a volatile summer.? Over the past few weeks the decline of the 10 year treasury rates have caused mortgage rates to move sideways to slightly lower as I predicted in the middle of June.? Now that the 10 year sits on its 50 day moving average, look for average mortgage rates to move higher with the 10 year treasury rate.

Wells Fargo mortgage rates should continue to follow the trend of daily mortgage rates as Wells Fargo has taken over as the #1 legitimate mortgage provider in the United States.? With the acquisition of Wachovia, Wells Fargo should continue to own the overall mortgage lending market.? The exposure that Wachovia had to subprime needs to get off the books at Wells Fargo, but once that rolls over, it is smooth sailing for the financial giant.

The major issue that all lending institutions are likely to have in the near future is the possible increase of average mortgage rates.? If the uptrend of the 10 year treasury continues, daily mortgage rates are sure to follow.? The uptrend began at the beginning of 2009 and has yet to break down.? This does not mean that the government won’t take the opportunity to auction a bunch of treasury bonds in a hope to saturate the market and push the 10 year under its 50 day moving average.? All this is going to do is create artificial mortgage rates, but that has been going on since the beginning of 2009.

Overall, Wells Fargo mortgage rates are going to follow the average mortgage rates for the remainder of the summer.? The question that is going to be answered very quickly is “will rates continue in an upward trend channel or will we see historic lows again soon?”