Wells Fargo Mortgage Rates - Will Interest Rates Drop?

Wells Fargo mortgage rates have went for an amazing ride over the course of August and we are only halfway through the month.  It seems we have been way down, then way up and now we are way back down again.  Mortgage rates are around 5.1% now but that is likely to change quick as interest rates have been very volatile.  The question that most Americans want answered is "will interest rates drop?"

Well, no one really knows the answer to that question but one thing is for sure.  The government is doing everything in their power to make sure that rates stay at historically low levels.  When looking at a long term chart of home loan rates you will see that we have never been in this territory for such a long period of time.  As stated earlier, no one knows where rates are headed but now is a great time to borrow money because they are so low.

President Obama has urged banks and mortgage lenders to lend money to all Americans so you are at an advantage that you once never had.  Prior to March, banks and financial institutions were hoarding their money and not lending it to anyone.  Now that President Obama has changed that, you have the chance to lock in at an extremely low rate.  It will not be easy as you will have to do your homework and check out many banks and lenders, but if you take the time and effort to find what is right for you, you could save over $10,000 over the course of your home loan.