Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02
Reverse

Mortgage Industry Jobs Begin 2011 in Decline

Data from the Bureau of Labor Statistics compliled by the Mortgage Bankers Association shows that mortgage industry employment has dropped by 5.9% from a year ago and 51% from a peak in February of 2006.  The current level of 248,000 sector jobs markes the lowest employment number since late 1997.

 

Following steep declines from the tail end of 2006 through 2009, the pace of job losses have slowed.  However, estimates for the first two months of 2011 indicate 12,000 additional job losses, including 1,900 layoffs recently announced by Wells Fargo.

 

 

Additionally, data from the American Bankers Association estimates that number of banking institutions has fallen from 9,907 in 2000 to 7,821 as of mid-2010.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please