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 Employment Resumes Contraction

239,100 mortgage jobs in June

Aug. 5, 2011

By MortgageDaily.com staff


Following a surprise increase in mortgage industry headcount, monthly employment retreated. But employment strengthened across all U.S. industries -- likely putting an end to plunging mortgage rates for the time being.

The disappointing mortgage-sector news came Friday from the Department of Labor.

During June, the number of people working in real estate finance was 239,100. That was down from 241,500 mortgage jobs reported for May -- when mortgage employment expanded by 2,600.

The data, which is provided by the Labor Department's Bureau of Labor Statistics, indicated that a revised 256,900 were employed in the sector during June 2010.

Zeroing in on positions in "real estate credit," the count declined by a thousand from May to 190,500.

"Mortgage and nonmortgage loan brokers" fell to 48,600 in June from 50,400 a month earlier.

But the news was better for the country's employment situation as a whole.

The U.S. unemployment rate improved to 9.1 percent in July from June's 9.2 percent. The decline in the country's jobless rate was even bigger when compared to the 9.5 percent previously reported for July 2010.

The lower unemployment rate is already reversing the negative momentum that had been building in the stock market, with the Dow Jones Industrial Average -- which plummeted more than 500 on Thursday -- opening nearly a hundred points higher.

However, it also means that record-low mortgage rates that accompanied the Treasury bond rally as investors sought a flight to quality will likely rise.

In early trading, the yield on the benchmark 10-year Treasury note was 2.51 percent, climbing from 2.47 percent at the close of trading yesterday, according to data from the Department of the Treasury and WSJ.com.

But downward pressure on rates remains as investors grapple with the European sovereign debt crisis and a still-ailing U.S. economy.

Nonfarm payrolls increased by 117,000 jobs in July, the bureau reported, nearly 10 times the increase previously reported for June.

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