Ruoff Home Mortgage cuts workforce

(Photo Supplied/Ruoff Mortgage)
Ruoff Home Mortgage has cut nearly five-percent of it’s workforce.
The company says the move is the result of rising interest rates for mortgages caused by inflation, as well as a decreased demand .
The company did not say exactly how many employees were let go. They employ more than 1,000 people nationwide, including hundreds in Indiana.
Ruoff says interest rates for a conventional residential, 30-year mortgage was 6.3% last week, up from 2.86% a year ago.
That’s caused the demand for refinancing to fall bigtime.
Despite the staff reduction, Ruoff says it plans to continue developing the markets it serves.


Please enter your comment!
Please enter your name here