Housing is so unaffordable that banks are losing money for each mortgage they finance for the first time ever

• Housing is so unaffordable banks lost money for each mortgage they financed last year, according to a new report.
• Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average $301 per loan, the first negative profit recorded by the Mortgage Bankers Assocation in data going back to 2008.
• They attribute that largely to the increased cost of financing a loan and decreased housing demand.

The housing environment is so unaffordable that certain banks lost money for each mortgage they financed last year — the first time that's ever happened, according to the Mortgage Bankers Association.