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Mortgage Broker

Money & Outlook

Insider Info

There is no question that mortgage brokers play an important role in the economy. Mortgage brokers are responsible for more than 50 percent of all loans. They work on commission, so salaries vary widely.

Job prospects also change with mortgage rates, says senior loan officer Don Reehoorn.

"If rates are falling when a lot of people are refinancing, it is a good time to get into it," he says. "If the rates are going up and the housing market is slowing down, it is probably not a good time to get into it."

Earnings and employment information from the U.S. Department of Labor is not available for this field at this time.

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.