Forbearance rate drops for seventh week in a row
2.3 million homeowners still aren’t making their monthly mortgage payments The share of mortgages in forbearance continues to retreat from last summer’s highs, but roughly 2.3 million homeowners are still taking a hiatus from their monthly mortgage payments, according to the latest numbers from the Mortgage Bankers Association (MBA). The MBA’s weekly Forbearance and Call Volume Survey showed the forbearance rate dropping for the seventh week in a row, to 4.5 percent as of April 11, 2021. That’s 18 times higher than the 0.25 percent rate before the pandemic, but…