Wells Fargo, among other lenders, is still offering affordable mortgage rates for homebuyers and current homeowners, which can translate into an affordable monthly mortgage payment. However, there are many who feel that mortgage rates are going to be on the rise in April so now may be the last we see of these low rates.
The Federal Reserve’s buying of mortgage-backed securities is one thing that has been attributed to keeping rates low, but since the Fed has ended that practice, it is said that mortgage rates will go up.
Whether that is the case or not, no one can know for sure, but Wells Fargo homeowners, as well as homeowners with other lenders, have been looking to refinance their mortgage to lock in these low rates. A low interest 30-year fixed rate mortgage is what many homeowners are opting for as it brings a lower interest and payment than most other mortgages.
However, if you are a Wells Fargo homeowner, or a homeowner with another lender, be sure that refinancing to take advantage of these low rates or buying to get one of these low rates, is going to be in your best financial interest before proceeding.