Why are they laying off mortgages this month? Won’t we get busy again in spring
4 replies (most recent on top)
Why are we saying mortgage layoffs? Haven’t seen or heard anything yet?
Three Words: Higher Interest Rates. When interest rates increase, less people can afford or maybe even qualify for a mortgage payment that is higher than want they budget or cash flow. Remember when purchasing a home, you have other expenses, property taxes, insurance, water/sewer, utilities, etc. When you see house sales decline, so does the demand for a mortgage loan. Mortgage loans & real estate purchases are a cyclical phenomenon.
There is still tomo- if they lay off tomo they don’t have to pay insurance rest of month. Could be Tuesday too
How do you know they are laying off people? What department are you referring to? Sales?
This month is over