Employment data

Bolstered home equity gains from rising prices put owners in a stronger position should another housing bubble be on the horizon, according to CoreLogic.

After months of backsliding followed by a modest increase in April, nondepository mortgage companies added 3,200 workers in May, as the overall job market gained steam.

After a sustained downward trajectory, nondepository mortgage companies added 1,200 workers in April, a modest boost for lenders during prime season for the housing market.

Nondepository mortgage companies cut another 1,500 workers in March as the housing market's peak season got underway, suggesting that even with business potentially picking up, lenders remain cautious about hiring.

Nondepositories in the mortgage business cut 2,900 more jobs in February, bringing industry employment to its lowest point in nearly three years.

As 2019 got underway, weakness in the housing market drove the number of workers employed by nondepository mortgage companies down to a low not seen since August 2016.

Nonbank mortgage companies cut payrolls by 3,100 full-time employees in December, bringing the level of the hiring in the industry to its lowest point in more than two years.

Employment at nondepository mortgage companies dropped considerably in November, as the combined effects of lower volumes and seasonal slowing reduced hiring needs.

The number of workers employed by non-depository mortgage companies experienced a typical seasonal drop month-to-month, but employment remained higher than a year ago due to the persistence of competitive hiring practices.

Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.