Should Mortgage Lenders Be Laying Off Their Pros in This Housing Market?

 

The never-ending wave of rising interest rates, and therefore pricier debt and consumer demand destruction, is turning buyers away from new home sales. Mortgage lenders are now laying off their pros in droves, hoping to weather the quagmire of a weak market. Is this short-term hemorrhage the right move? Origin Bank Sr. Mortgage Loan Officer and Mortgage Advisor at Theriot Mortgage Group, G.P. Theriot, thinks mortgage lenders and the larger home sales industry is stuck between a rock and a hard place.

G.P.’s Thoughts

“We’ve definitely seen a swing in the mortgage industry. Rates have gone up, loan applications have gone down significantly. A lot of these big mortgage companies are having to make tough decisions of, do we keep the full force of the operation side or do we have to start letting people go?

Because here’s the big question. We’re gonna see a big swing here when rates do start going down. And that’s the question, when will rates start going down? The word on the street is we could see rates starting going down as soon as the first quarter in 2023, or no later than the third quarter.

So it’s one of those questions of do you fight through the storm, be prepared? Because when those rates get back in the fives, we’re gonna have a lot of re-fi booms going on. It’s gonna build confidence back there for people getting back on the streets to buy homes. So it’s an interesting time and only time will tell of how will we be prepared either way.”

Follow us on social media for the latest updates in B2B!

Image

Latest

network innovations
Network Innovations
May 22, 2025

Brent speaks with Day-Vene Gilliam, VP of National Network Optimization & Business Development at Elevance Health, about how Anthem is evolving its network strategy to deliver greater value to clients and members. From expanding value-based care contracts with over 650,000 providers to leveraging digital tools like HealthOS for real-time data and gap-closure, Anthem is enabling…

Read More
food as medicine
Food As Medicine
May 22, 2025

Dr. Kofi Essel, community pediatrician and Elevance Health’s Food as Medicine Director, joins Brent to discuss how nutrition is becoming a central lever in both preventing and treating chronic disease. With millions of Americans living with diabetes, hypertension, and obesity, Dr. Essel explains how Elevance is building interventions that help members access high-quality food and…

Read More
inclusive care
Inclusive Care
May 22, 2025

Sammy Gonzalez, Regional Vice President at Elevance Health, joins Brent for a deeply personal and impactful conversation on health equity and inclusive care. Sammy shares a powerful story of medical misdiagnosis tied to cultural assumptions, underscoring how bias—even unintentional—can hinder care quality. He highlights Elevance’s work to improve diversity in provider networks, enhance cultural competency,…

Read More
sydney health
Sydney Health Demo
May 22, 2025

In this episode, Christina Firouztash, Executive Advisor of Digital Solutions at Anthem, gives a dynamic walkthrough of the Sydney Health app—Anthem’s flagship digital member experience. Christina showcases how Sydney delivers personalized, simple, and equitable navigation across benefits, including virtual care, pharmacy, financial transparency, and social services access. From contextual chatbots and ID card access to…

Read More