Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024.

On Tuesday morning, the top-20 U.S. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% from the $3.9 billion in the previous quarter and the same quarter of 2023. 

Loan production in the home equity arena was $1.8 billion in Q1 2024, a decline of 16% from $2.2 billion in the previous quarter and down 27% compared to $2.5 billion in the same period of 2023. 

BofA’s sequential quarterly production details ⇒

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