Yahoo Finance, April 11, 2023, Housing Is So Unaffordable That Banks Are Losing Money For Each Mortgage They Finance For The First Time Ever
In 2022, independent mortgage banks and mortgage subsidiaries of chartered banks banks lost an average $301 for every mortgage they financed, the MBA said in a recent report. That represents a 113% decrease from last year’s average income of $2,339 per mortgage, and is the first time that banks posted negative profits for financing home loans since the MBA began recording profits in 2008.
