Mortgage Hiring Slowdown
All of your friends become mortgage brokers? Certainly, a lot of my friends who were in the stock brokerage business who suffered through the post 9-11 cutbacks by many firms went into mortgage banking and brokerage. Apparently, in the last 20 months, 53,000 jobs were created in this business.
As the housing markets slowed recently and refi opportunities diminished, business has started to dry up.
Here is some evidence as to the beginnings of a slowdown in employment in this sector. Look out below!