Mortgage Daily Logo
mortgage news from industry experts

Mortgage Jobs Expand

Mortgage Jobs Expand

Mortgage employment now at 448,900

June 4, 2004

By staff

Mortgage jobs increased for the third consecutive month even as mortgage activity continued to take a pounding.

In April, there were 5,200 more people working in the mortgage industry than in March, according to the latest employment report by the Bureau of Labor Statistics. The boost was reflected in the non-seasonally adjusted number of mortgage-related jobs totaling 448,900, compared to the previous month’s revised figure of 443,700.

At this time a year earlier, the total was 430,400.

The Bureau, a division of the U.S. Department of Labor, reports employment numbers about 30 days following the end of each month.

Companies that have recently announced plans to increase mortgage staff include online lender Quicken Loans Inc., which will add 1,200 jobs over the next five years, and also Wells Fargo & Co., which will hire 1,000 new mortgage employees in Iowa.

photo of Labor Dept
Photo of U.S. Labor Dept. Building

Since January, the reports show the mortgage employment number has grown by over 16,000.The latest total was comprised of 319,500 people working in Real Estate Credit and 129,400 mortgage and nonmortgage brokers, the report said.

The announcement comes as mortgage application activity has reportedly fallen for four straight weeks due to rising rates.

The unemployment rate of 5.6% was reportedly unchanged over the month.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts