The share of borrowers in forbearance fell again this week, according to the latest data from Black Knight (BK)
- Forbearance volumes fell by 61,000 this week. This means fewer than 4% of all mortgage-holders are now in forbearance.
- As of June 8, 2.06 million (3.9% of) homeowners remain in COVID-19-related forbearance plans.
This piggybacks on the data released Monday from The Mortgage Bankers Association. MBA reported that 4.16% of mortgage-holders were in forbearance programs as of May 30, 2021.
- According to estimates, 2.1 million homeowners are in forbearance plans.
Similar news this week from CoreLogic found that mortgage delinquencies in March were down to 4.9%, a 0.8% drop from April, the largest drop since the start of the pandemic (M&M)
As each week passes and the economy improves, we seem to get further and further from fears of a foreclosure crisis. Good news heading into the weekend!