Forbearances Down 18% in Early October

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Black Knight is reporting that during the first week of October, active mortgage forbearances fell 649k, representing an 18% reduction from the prior week and the largest single-week decline since the start of the pandemic.  In addition, their McDash Flash Forbearance Tracker shows the national forbearance rate coming in at 5.6%, down 1.2% from the week before. As of October 6th, there are 2.97 million homeowners in COVID-19-related forbearance plans, representing $614 billion in unpaid principal.

“Though the market continues to adjust to historic and unprecedented conditions, these are clear signs of long-term improvement…”

Click here to read the full report at Black Knight.

 

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Director of Education & Outreach, National Real Estate Investors Association

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