Mortgage Daily

Published On: June 4, 2004
Mortgage Jobs Expand

Mortgage employment now at 448,900

June 4, 2004

By MortgageDaily.com 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.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN