Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
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Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#2Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#3I don’t have a good way to reconcile the current hot job market with seemingly increasing reports of mass layoffs, but one wonders if the graph will change directions decisively at some point soon.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#4Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#5Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
Airbnb is a horrible thing if you (like me) live in a tourist city and making rent inaccessible to the local residents
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#6Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
I’m seeing 5.0% most places (see ally bank). Still higher than its been but not pushing 6% by any stretch.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#7I don’t have a good way to reconcile the current hot job market with seemingly increasing reports of mass layoffs, but one wonders if the graph will change directions decisively at some point soon.
I think the mortgage industry is a bit different in that their workload is so closely correlated with interest rates. People were refinancing like crazy 1-2 years ago, but it's slowed down as rates have gone up.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#8Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
It’s my understanding that Airbnb is pretty bad when it comes to gentrification and driving city natives out of affordable housing.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#9Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
I don’t know about other places, but Airbnb has been a mixed bag for NYC: I’ve seen it used to keep housing stock off the market, to dodge the obligations associated with keeping a property livable, and to essentially run entire illegal hotel businesses without attracting regulatory (including safety) scrutiny.
Re: Rocket Mortgage to trim 8% of workforce as home-loan market shrinks
#10Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
It is if you live next to a landlord that houses loud guests. Is this even a question?