MBA: Forbearance Hits Lowest Level Yet

The share of Fannie Mae and Freddie Mac loans in forbearance has reached the lowest level since the start of the pandemic, according to the Mortgage Bankers Association, but an increase in the number of borrowers exiting forbearance into loan modifications points to ongoing struggles in the recovery from the pandemic.

Mortgage Demand Strong as Fall Opens

New data from the Mortgage Bankers Association shows national demand for purchase loans is strengthening to levels last seen in April, a sign the summer’s dip in housing demand could be only temporary. 

MBA: Pace of Forbearance Exits Slows

While mortgage forbearances have continued to decline, the number of borrowers exiting forbearance recently reached its slowest pace in more than a year, according to the Mortgage Bankers Association.