The U.S. forbearance rate is officially below 5% for the first time in a year. Servicers’ forbearance portfolio volume fell nine basis points last week to 4.96%, according to a survey from the Mortgage Bankers Association.
Since October, the percentage of portfolio loans in forbearance hovered between 5% and 6%, the longest a percentage range had held since the survey’s beginning as continuous extensions gave homeowners more time to postpone payments.
According to the MBA, new forbearance requests last week remained at their lowest level since last March, while the pace of exits increased details ⇒
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