The U.S. forbearance rate measuring the share of mortgages with suspended payments increased for the second consecutive week in nearly five months from 5.48% to 5.54%, according to the Mortgage Bankers Association. The MBA now estimates the number of homeowners in some form of mortgage forbearance increased from 2.7 million to 2.8 million this past week.
Prior to the slight increases, the U.S forbearance rate had either fallen or remained flat since forbearances decreased for the first time in the series history on June 22. However, the MBA said more people entered forbearance than exited this week. details ⇒
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