| Fluctuating interest rates have played havoc with homebuyers finances as well as kept lenders in business for generations. Predicting the rise and fall of interest rates has almost become a nation pastime.
Wells Fargo Home Mortgage has introduced a new loan product that eliminates the guesswork and the need for homebuyers to monitor interest rates as well as eliminates the entire refinance process.
The Wells Fargo Improving Rate Mortgage™ automatically adjusts lower as interest rates dip. However, the good part is, once the interest rate has decreased, it can never increase. If rates go up, the mortgage rate doesn’t.
It works like this: Every six months for the life of the loan, the homeowners’ mortgage is evaluated for possible rate reductions. If, at the time of evaluation the defined market rate is at least 1/4 percent lower than the loan rate, the interest rate is automatically adjusted downward. If rates go up instead of down, the rate remains the same. The loan is only available for a 30 year, fixed rate term.
So, assuming falling interest rates, the mortgage payment is adjusted downward every six months without any newly required documentation, closing costs or credit requirements. Borrowers will pay a one time, tax deductible loan fee of one percent of the loan amount, and up to 95 percent financing is available.
For more information, call 1-800-222-3408 or visit Wells Fargo on the Web at www.wellsfargo.com/mortgage. | 
