Wells Fargo, the 4th largest bank in the United States based on deposit size, has always been one of the best banks to entrust your mortgage with. Wells Fargo’s headquarters reside in San Francisco, California and at the end of 2009, Wells Fargo employs 276,000 in over 6,650 brick and mortar branches. Don’t expect to find Wells Fargo internationally; they only have a couple of offices set up in India.
In October of 2008, Wells Fargo purchased Wachovia Bank and all assets for about $14.8 billion. Initially, Citibank had made a deal with Wachovia but while that deal was still in the beginning stages, Wells Fargo swooped in and took control. After a short battle with Citibank, Wells Fargo was voted by current Wachovia shareholders as the clear cut winner.
Later 2008, Wells Fargo was part of the Emergency Economic Stabilization Act Federal bail-out and received a $25 billion boost from the US Government. It was later determined that Wells Fargo would need another ~$14 billion to remain stable and through an additional stock offering, Wells Fargo was able to raise most of the needed funds.
Today, Wells Fargo remains as one of the most trusted and highly regarded banks in the United States. If you’re looking for a solid mortgage interest rate, look no further than Wells Fargo. The $75 billion housing stimulus plan has allowed nearly every homeowner to refinance their current Wells Fargo mortgage to lower payments and prevent possible foreclosures and with current mortgage rates continuing to fall, now is the time to refinance if you have to.
The current Wells Fargo mortgage rate table you see above, current as of 6/7/2010, is in-line if not better than most US banks today. If you are considering a new home purchase or a refinance, make sure you take a close look at Wells Fargo as well as other banks current mortgage rates.