Lower has a round of layoffs to “weather upcoming rate hikes”
Housing Wire
OCTOBER 10, 2022
Ohio-based mortgage lender Lower imposed a round of layoffs last week due to market conditions, affecting 6% of its workforce, according to a spokesperson for the company. The Fed has increased the federal funds rate by 300 basis points so far this year to control surging inflation, resulting in a “ reset” of the mortgage market.
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