Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2023. This represents a series high in the 15-year history of the MBA Annual Mortgage Bankers Performance Report.

Homebuyer affordability declined in March, with the national median payment applied for by purchase applicants increasing slightly to $2,201 from $2,184 in February, the Mortgage Bankers Association reported.

Real gross domestic product increased at an annual rate of 1.6% in the first quarter, per the advance estimate released by the Bureau of Economic Analysis.