The Mortgage Bankers Association surveyed the U.S. home mortgage servicing market for indications about how the nation's 26.9 million home loans were holding up during the first weeks of the pandemic.
"So far the number of U.S. homeowners seeking payment forbearance because of the pandemic remains small," reports Steve Brown, sharing data released by the Mortgage Bankers Association this week.
"Only 3.74% of home loans across the country were in forbearance as of April 5," explains Brown. "But the share of Americans seeking relief from their mortgage payments is likely to grow the longer the economy is shut down due to the COVID-19 pandemic."
The article includes more details about the state of the mortgage finance market as the economic effects of the coronavirus pandemic deepen around the country.
Reports released last week, by the National Multifamily Housing Council and Apartment List estimated the share of residential renters not paying rent in April at a third and a quarter, respectively.
FULL STORY: So far less than 4% of U.S. home loans are in forbearance
'Seriously Delinquent' Mortgages Explode, But Don't Expect a Great Recession-Style Meltdown
More and more homeowners are falling behind on mortgage payments as the pandemic lingers, according to recent market data.
Urban For-Sale Markets Keeping Pace With the Suburbs, With Two Key Exceptions
Everywhere but San Francisco and New York City, urban housing markets are just as hot for sellers as suburban markets, according to data released recently by Zillow.
Federal Eviction and Foreclosure Moratorium Extended Until the End of August
Breaking news: a federal moratorium on evictions and foreclosures of single-family mortgages backed by Fannie Mae and Freddie Mac will be extended until at least the end of August. The moratorium had been set to expire at the end of June.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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