Mortgage Revenue Dips For Wells Fargo

Wells Fargo reported a slight decline in earnings the second quarter as expenses increased and home mortgage revenue declined.  The California based bank reported income of $5.36 billion compared to $5.42 billion of income the previous year.  Revenue missed analyst estimates of $21.7 billion.  Mortgage volume and applications fell as interest rates have moved up.  Wells Fargo home mortgage is making less per loan as well.  The banks loan volume was $888.5 billion (residential, commercial and industrial loans).  If you are interested you should check out our California home loan rates by calling 1-800-550-5538 or request information online.