| Mortgage Jobs Strengthen
6,100 mortgage jobs added in May July 5, 2004 By MortgageDaily.com staff |
| The government’s latest employment numbers showed mortgage jobs continued to grow for the fourth consecutive month.
The U.S. Bureau of Labor Statistics reported there were 6,100 more people working in the mortgage sector in May — jobs totaled 454,800 for the month, compared to April’s revised figure of 448,700. The latest figure is slightly higher than that of 448,100 a year ago, the Bureau said, despite that mortgage application activity at that time was nearly two-thirds greater than its current level. The Bureau, a division of the U.S. Department of Labor, reports the numbers about 30 days following the end of each month. May’s jump primarily came from those working in Real Estate Credit — as the total of 325,300 increased by 5,600 from April, the report said. The rest of the total came from 129,500 mortgage and nonmortgage loan brokers. Overall employment grew by 112,000 jobs in June, marking a sharp slowdown from the previous three months, the Bureau reported. Meanwhile, the unemployment rate held steady at 5.6% in May. |
7 Refinance Strategies
Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...
