Layoffs at local mortgage lender highlight changing housing market, impact of high interest rates
WEWS: Michael Goldberg, associate professor of design and innovation at Weatherhead School of Management and executive director of the Veale Institute for Entrepreneurship, said the spike in mortgage rates over the past month has frozen activity in the housing market. “It has slowed down new buying activity,” he said. “It has slowed down refinancing and, thus, the larger mortgage lenders are responding by laying off staff.”