Data: Mortgage Bankers Association; Note: Adjusted to August 2022 dollars; Chart: Kavya Beheraj/Axios
After getting laid off from her job at mortgage provider Better.com in March, Charmaine Steele interviewed at eight other mortgage companies. Each one subsequently announced layoffs of their own, she tells Axios. At least one has gone out of business.
Why it matters: It's lean times in the real estate business. The slowdown is a warning for the economy more broadly, and a rare labor market weak spot at a time of strong overall employment.
