The share of mortgages in forbearance rose to 8.16% from 7.91% in the May 4-10 period, the industry lobbying group said, the smallest increase since March 16. The number of new requests for relief also fell relative to the prior week for the fifth consecutive survey period, the MBA said.
The U.S. economy has cratered since mid-March as many stay-at-home orders were enacted across the country to limit the spread of the virus. Job losses have continued to mount, with more than 30 million people newly thrown out of work, although a majority of states have now partially reopened commerce.
TheFireTracker2 Anybody know what that rate was in January?
Somewhere right now, Jamie Dimon is drooling like a rat over a tossed out burger over the prospect of the 2nd economic disaster in 15 years, delivering profits to jpmorgan on both the foreclosure AND the resell side of this. We could be buying his NEXT summer home in Monaco!