Forbearances Trending Slightly Higher, Well Below 2020 Peak Levels

Despite a second consecutive modest weekly increase , the number of loans in forbearance continue to trend well below those at the peak of the COVID-19 pandemic. Black Knight said there was an uptick of 27,000 loans in forbearance plans during the period ended November 23. That reporting period was one day shorter than the usual week in preparation for the Thanksgiving holiday. The company reminds readers that "mild increases like this have been common in the middle of the month . Since the recovery started, the strongest declines have typically been seen early in the month, as expiring forbearance plans are removed." The reporting period ended with 2.78 million homeowners in forbearance. This is approximately 5.3 percent of the 53 million active mortgages in the U.S., up from 5.2 percent last...(read more)

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