Photo of the Cleveland skyline in the fall

Weatherhead’s Michael Goldberg discussed rising mortgage rates and their affect on the housing market

Layoffs at local mortgage lender highlight changing housing market, impact of high interest rates

Michael Goldberg, executive director Veale Institute for Entrepreneurship

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.”