|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
|
| Mortgage Employment Falls; 2010 Data Revised Up
234,400 people employed in real estate finance during August
Oct. 7, 2011
By MortgageDaily.com staff
|
The exodus out of real estate finance continued, while data previously reported for a year ago was adjusted up by nearly 14,000 jobs. A stronger-than-expected report for all types of jobs had the 10-year Treasury yield deteriorating.
The government reported Friday that 234,400 people were employed in the mortgage industry as of August.
A month earlier, 237,200 people worked for mortgage lenders, servicers and brokers. The July figure was revised down from 237,300 originally reported.
The metric also deteriorated from August 2010, when headcount in the industry was 259,400. However, the Bureau of Labor Statistics, which reports U.S. employment data, beefed up the year-earlier figures -- which were originally reported at just 245,500.
The latest monthly count included 187,000 people employed in "real estate credit," slipping from 188,300 in July. Hurting this category were Bank of America Corp. and Wells Fargo & Co., both of which have reported thousands of mortgage layoffs so far this year.
"Mortgage and nonmortgage loan brokers" accounted for 47,400 of August's total, off from 48,900, according to the bureau, a division of the Department of Labor.
Across all U.S. industries, nonfarm payrolls increased by 103,000 jobs during September -- better than expected and pushing the price of the 10-year Treasury down 27/32 while driving the yield up to 2.08 percent.
U.S. unemployment, meanwhile, was 9.1 percent, the same as in August. |
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.
|
|
|
