twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.


Mortgage Jobs Gain as U.S. Employment Falters

Mortgage employment increases 2,800 jobs in March

May 4, 2012

By MortgageDaily.com staff


The news wasn't so good for the U.S. economy, with nonfarm payrolls seeing a lackluster gain. But for people working in the mortgage industry, the news was much better. In addition, government statistics for the home-loan business a year ago were revised up more than 25,000 jobs. Meanwhile, U.S. unemployment hasn't been this low since President Obama first took office.

Monthly government data indicated that 267,600 people were employed in the mortgage industry during March.

Headcount within real estate finance increased from a revised 264,800 employees in February. The month-earlier figure was originally announced at 265,300.

The Bureau of Labor Statistics reported that the collective staffing for the industry was weaker than in March 2011, when the number was a revised 272,100. The bureau, a division of the Department of Labor, significantly revised the year-earlier total from what it originally reported: 244,900.

One of two components of the mortgage employment figure is "real estate credit," which climbed to 212,100 in March from 210,000 jobs.

The second component is "mortgage and nonmortgage loan brokers," which rose to 55,500 from February's 54,800.

As reported last month, some of the companies that are fueling the growth include Wingspan Portfolio Advisors, Adecco Staffing US and JPMorgan Chase & Co.

For the country as a whole, nonfarm payroll employment was up 115,000 during April -- the second consecutive month that growth fell below 200,000.

A weak payroll report last month, along with austerity stress in Spain, has been a drag on equities markets (and the market for Spanish bonds).

But a byproduct of the tense environment is low mortgage rates -- with Freddie Mac reporting Thursday that the 30-year fixed-rate mortgage fell to a record-low 3.84 percent and the 15-year loan declined to 3.07 percent -- also an all-time low.

The latest employment news is likely to keep pressure on rates to remain low.

Tugging in the other direction is the unemployment rate, which fell to 8.1 percent last month from 8.2 percent a month earlier.

The last time that the U.S. unemployment rate was this low was January 2009, that same month that Obama was inaugurated. At that point the rate was 7.8 percent.

next story

back to current headlines


Mortgage Broker News | Originator Newsletter
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.


Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders