Mortgage Industry Still Adding Jobs

The U.S. job engine continues to stall -- but not in the mortgage industry. According to figures released April 4 by the Bureau of Labor Statistics, the mortgage banking and brokerage sectors added 3,300 full-time positions during March.Mortgage employment now stands at an all-time high of 425,000. A year ago the industry employed 356,000. Year-to-year mortgage employment is up a stunning 19%. Of course, industry veterans are well aware that when production begins to fall, layoffs are all but certain. But for now, refis and purchase-money loans are keeping funders busy from coast to coast. And if the Federal Reserve cuts rates further, production could easily stay strong through the end of December. Overall, the U.S. unemployment rate stayed steady at 5.8% in March.