Mortgage forbearance pace continues to slow, MBA says

The pace of borrowers seeking delayed mortgage payments is slowing, according to data released Monday by the Mortgage Bankers Association. The number of loans in forbearance increased 10 basis points for the week ending May 24, to 8.46% of outstanding home loans from 8.36% the prior week, the MBA said. That’s the smallest increase reported week-over-week since the week of March 9. About 4.2 million mortgages are in forbearance, the report said.

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