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Home » Store » News » Market Downturn Expected to Cut Jobs, But Moderate Rate Movement May Avert Bloodletting

Market Downturn Expected to Cut Jobs, But Moderate Rate Movement May Avert Bloodletting

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If mortgage interest rates stay just about where they are, the mortgage industry can expect to lose 100,000 jobs, or more, as new originations slow down, according experts. That would be about 18 percent of the sector’s total employment. If the interest rates stay within their current range, “there isn’t going to be a bloodbath,” said Doug Duncan, chief economist at the Mortgage Bankers Association. “The moderate movement will give lenders time to adjust
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