What do you think? More profits due to Interest Rates...
9 replies (most recent on top)
In the department I work in even though we are seeing less loans come in we are still hitting our goals due to the higher interest rates, when you have a million dollar loan and the rates were once 2.5% are now 5% you do the math on how much more we are making! This is not for wells fargo as a whole so i cant speak on that but in some departments I believe this to be true.
People say that "There is no such thing as a d-mb question". This post proves that there is indeed stupid questions. Higher Rates mean less business. How on earth would you think that translates to getting paid more?
Yes - but WFC needs to hire more people check the checkers - so you'll see none of it...
Higher interest rates will mean a steep drop in refinance and mortgage loan activity. We’ve already seen it.
They might help the credit card business for a while, until defaults kick in.
Once all their competitors raise rates on savings, Wells will be forced to do the same.
So no, we probably won’t benefit much.
Are you new here?!? 🤣
Less! You make the same sh-t salary as last year, but it buys LESS! 1.5-3% raise??? Fu(k ‘em!!!
More profits = higher dividends, stock buybacks, and c-suite bonuses. Does not trickle down.
You must be new to corporate America
Yes, higher IR create higher charges and we take a chunk of the charges.