Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $534 on each loan they originated in the second quarter, an improvement from the reported loss of $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.

In a new blog post, MBA President and CEO Bob Broeksmit, CMB, explains why rent control policies will perpetuate the housing supply-demand disconnect.

Redfin, Seattle, reported that newly built properties made up 31.4% of single-family homes on the market in the second quarter, due in large part to continued supply constraints.