Mortgage forbearance rate falls to a nearly 5-month low
Housing Wire
SEPTEMBER 8, 2020
The U.S. forbearance rate in the last week of August fell to the lowest level since mid-April, according to the Mortgage Bankers Association. The rate dropped to 7.16% from 7.2% in the prior week, MBA said in a report on Tuesday. The forbearance rate for Fannie Mae and Freddie Mac loans dropped eight basis points to 4.8%, while the rate for Ginnie Mae loans that include loans backed by the Federal Housing Administration increased four basis points to 9.62%.
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