General World News

Mortgage forbearance rate continues to drop

The U.S. forbearance rate fell nine basis points last week to 5.37% of servicers’ portfolio volume, according to a survey from the Mortgage Bankers Association on Monday.

While this decline may be the largest drop in forbearance share in the past nine weeks, it is only the second in that same time period – the first being on Dec. 14 when loans in forbearance fell six basis points to 5.48%. Dec. 14 also marked the first time the number of homeowners in some form of forbearance fell to 2.7 million, and the MBA estimates that number has gone unchanged in the last month.

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