Mortgage companies trimmed their payrolls of 500 full-time employees in June and continue to hold back on hiring despite stabilizing home sales and high demand for refinancings.

The Bureau of Labor Statistics reported last week that employment in the mortgage banker/broker sector fell to 265,100 in June from 265,600 in May.

The decline in mortgage industry jobs has leveled in the past few months, though the number of jobs is off by 16% since June 2008.

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