Wells Fargo's Chief Financial Officer stated that the bank's mortgage business downturn is expected to gradually ease and remain relatively stable throughout the year.

Despite the current challenging market environment, the company's management remains confident in the resilience of its business and believes that the most severe contraction phase has passed. With the interest rate environment stabilizing and a structural adjustment in housing market demand, this core business is expected to achieve a soft landing. Analysts point out that the stability of the mortgage business provides significant support for Wells Fargo's overall revenue. If this forecast is realized, it will help alleviate investors' concerns about the bank's profitability and provide strong support for the stock price.