Mortgage Layoffs Surge As Rising Rates Crush Lending Activity [Forbes]
New Residential Investment Corp. (NRZ)
Last new residential investment corp. earnings: 2/6 06:30 am
Check Earnings Report
US:NYSE Investor Relations:
newresi.com/ir-link
Company Research
Source: Forbes
Stocks are in bear market territory, crypto is crashing and recession fears keep rising. Adding to 2022’s turmoil, the housing market is showing troubling signs as rising interest rates result in reduced mortgage activity and job cuts after two years of surging growth.Major brokerages, mortgage lenders, and property-tech companies have all announced varying degrees of layoffs over the last few months and experts expect the trend to continue. The layoffs are a response to the cooling housing market, where rising mortgage rates and inflation are pushing some buyers out of the market.Mortgage lenders are being hit hard by rising interest rates since applications and refinance applications tend to fall amid increasing rates. “We saw an exceptional wave of demand for two years when the Fed cut short term rates down to zero,” says Adam DeSanctis, vice president of communications at the Mortgage Bankers Associations. “The lenders tried to ramp up to meet this demand, and they were bringing o
Show less
Read more
Impact Snapshot
Event Time:
NRZ
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
NRZ alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
NRZ alerts
High impacting New Residential Investment Corp. news events
Weekly update
A roundup of the hottest topics