The mortgage sector is anticipating more layoffs and reduced hiring due to persistently high interest rates and compressed profit margins. Lenders who expanded their workforce early in the year are now reassessing their staffing levels as refinance hopes have faded. Increased efficiency from AI and complex product mixes also contribute to the need for leaner operations. Analysts suggest that consolidation may become a more common strategy for companies struggling with profitability. This trend follows significant workforce reductions seen since the market's post-pandemic peak.
https://www.housingwire.com/articles/mortgage-layoffs-expected-to-rise-as-rates-remain-high-margins-stay-thin/