Industry slashes jobs as mortgage boom fizzles outIndustry slashes jobs as mortgage boom fizzles out
By Mark Calvey
San Francisco Business Times
Sep. 22 — Major players in the Bay Area's mortgage industry are starting to shed employees as rising interest rates close the book on three years of record lending.
Rates earlier this month moved to 6.44 percent on an average 30-year loan, the highest level this year. Rates have since pulled back but remain well above 6 percent.
