The banking giant Wells Fargo (I have noticed a lot of people misspell it as Welss or Weels or Wels etc) will be lowering their prime rate from 4 percent to 3.25 percent. This pull down is effective from today i.e. December 16th, 2008.
Now if this is a good thing or bad, its hard to say. Anyway you look at it, the Bank is a winner. Don’t forget that even the Fed cut its prime rate and from what I gather, they have made it zero?
Interestingly,Â Wells Fargo Bank is the only one of its kind in US and one of the two in the whole wide world to have the highest credit rating from both the respectable credit services – Moody’s and Standard & Poor.
Do you have the Wells Fargo Mortgage? What has your experience been like. Share your words with us below.
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