For the entire year of 2010 we have seen Wells Fargo refinance mortgage rates at or below 5%. Today, home loan interest rates are set to move much lower as the 10 year treasury yield is down over 2%. It looks as if the next level of support for the 10 year treasury rate yield will be its 200 day moving average which could be tested over the next few days.


At the present time we are seeing 30 year fixed mortgage rates around 4.85%. It would be no surprise to see mortgage rates hit a 2010 low around 4.7% in the very near future. With this being the case it might be a wise decision to take advantage of these low rates and refinance in the month of May 2010.

Wells Fargo and most mortgage lenders have enjoyed a very long low interest rate period. For over 18 months the Federal Reserve Bank has taken the necessary steps to make sure that interest rates have stayed very low. Many homeowners have taken advantage of this by locking in to refinance rates well below 5%. It may be a wise decision to lock in these low rates now so you will save money in the future.

Author: Alan Lake