One great way to save that we tend to forget as we look for the best interest rates on savings accounts, money market accounts, money market funds and CDs, etc., are the ways we can save money through lowering our cost of living. With that in mind, Wells Fargo (NYSE:WFC) is offering an extremely low mortgage refinance rate of 4.66 percent. This is a 30-year fixed rate.

To understand what that really means, the all-time low, as far as it relates to a weekly average (not a one-day low), that number is 4.61 percent. So Wells Fargo is just over that rate at this time.

All of this is subject to fairly rapid change, but the ballpark figure should remain around these numbers, even when they fluctuate.

With these low mortgage refinance rates being at optimal levels, if you’re in the position to and are thinking in terms of refinancing, you many not get another chance at low interest rates like this for some time.

In order to manage your expectations properly, keep in mind that these rates are offered under the assumption of good credit and the amount of equity you have in your home.

If you’re ok in those areas, the lowest interest rates will be of great benefit to you. But even if you’re not qualified for the absolute best rates, it’s worth checking it out and applying, as the interest rates you would normally get when taking into consideration your credit score and equity in your home should be lower than it would be anyway.

In other words, your situation can’t be changed, and because interest rates are low at this time, if you qualify for a refinance your rates should still be better than you would have received from past period of higher interest rates.

Of course if you have significant equity in your home and a strong credit score, you’ll get the very best refinance interest rates out there to have, and probably the best rates that will be available for years into the future.

Don’t wait for refinance to become popular in order to benefit from these great interest rates for refinancing your mortgage. This is a great personal finance tool to make your cost of living decline, while at the same time freeing up more money to invest if you choose. It doesn’t get much better than that for the average person.

Tags: mortgage, mortgages, Refinance Mortgage, Wells Fargo

This entry was posted on Wednesday, November 18th, 2009 at 10:37 am and is filed under reviews. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

• Best Ways To Make Money At Home-Use The Best Ways To Make Money At Home Due to the economic downturn the whole world is facing at the moment, it is necessary to learn the best way to make money at home, in order to maintain your financial stability.Nowadays, it is possible to start earning money...
• Financial Considerations Of Selling Your Home: Should You Sell Your House? With the turn of the new year many people are considering selling their house and looking for a new one.  They ask, "Should I sell my home, or is it the right time to sell?" Traditionally speaking, early in the...
• 12 Things Every Teenager Needs To Know About Money (And How To Teach Them) There Is More Free Money Than You Realize For College This is a guest post from Grant Baldwin, the author of Reality Check, a book about helping students transition into the real world. His new website, BrokePiggy.com, answers questions from...
• Learning About Hidden Credit Card Charges It is very tempting to get an offer for a new credit card with a low interest rate, but make sure to read the fine print on the application or you could find they are charging you fees that were...
• 4 Tips For Applying For a Mortgage My wife and I are currently in the process of selling our home, and looking to upgrade our living space. The house we live in now is getting smaller everyday. Personally, I blame the kids - they just keep growing!?...