OceanFirst Bank will lay off more than 100 New Jersey employees as part of a plan to outsource its home mortgage operations. OceanFirst bank said the decision comes as the entire residential mortgage industry is facing difficult competition. Mortgage rates have seen a slight decrease since the peak in October 2023, when the average rate for a 30-year fixed mortgage was 7.79%. The current average for a 30-year fixed mortgage is 6.26%, according to Freddie Mac. OceanFirst Bank, headquartered in Toms River, has more than 40 locations in New Jersey, New York, Pennsylvania, Massachusetts and Maryland.