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.
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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.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Dear Tesla Driver: “It’s not You, It’s Him.”
Amidst a booming bumper sticker industry, one writer offers solace to those asking, “Does this car make me look fascist?”
A Visual Celebration of Manhattan’s Chinatown Elder Community, Through Food
Lanterns, cafeteria trays, and community connection take center stage in this stunning photo essay.
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