Mortgage lenders continued hiring in the month of August by adding 2,800 full-time employees to their payrolls, according to Friday’s jobs report.
The U.S. Bureau of Labor Statistics reported that employment in the mortgage banking and brokerage sector rose to 280,500 in August from 277,700 in July.
Since January, lenders have hired 18,400 new employees to keep up with the demand for refinancings. Mortgage brokerages are responsible for 11,500 of the new hires.
Overall,
Meanwhile, Friday’s job’s report shows the U.S. economy created 114,000 new jobs in September, up from 181,000 in August. The August figure was revised upward by 46,000 jobs.
The unemployment rate fell to 7.8% in September from 8.1% in August.
(There is a one-month lag in reporting mortgage employment data.)
