515,700 employed in real estate finance during June
By MortgageDaily.com staff
8/5/2005

Mortgage employment reached a new milestone for the fourth consecutive month.

The number of people working in real estate finance-related positions amounted to 515,700 in June, breaking the revised record of 505,200 set in May, the Bureau of Labor Statistics reported today. The latest figure is 37,800 jobs better than the level a year ago.

Mortgage lending jobs have been climbing to new record each month since March.

June's mortgage employment consisted of 383,800 "real estate credit" jobs and 131,900 "mortgage and nonmortgage brokers," according to the Bureau, which reports job numbers about 30 days following the end of each month.

Countrywide Home Loans, BayRock Mortgage Corp. and New York Mortgage Trust Inc. are among the mortgage lenders that have recently announced they are expanding staff.

The unemployment rate in July was unchanged at 5.0 percent, said the Bureau, a division of the U.S. Department of Labor.

But a healthier job market will likely translate into higher mortgage rates as the latest national employment report beat expectations and sent the 10-year Treasury yield to 4.38% Friday mornings -- the highest since the middle of April, according to MarketWatch.

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