Wednesday, July 2, 2025

Number of US Mortgages Entering Forbearance Programs Beginning to Show Signs of Decrease

It looks as if the housing industry is slowly beginning to rebound from the financial ruin caused by the coronavirus pandemic. According to data compiled by the Mortgage Banker’s Association, there has been a decrease of the number of Americans making forbearance requests.

As of late, there are 4.1 million homeowners in some sort of forbearance program, and although the number of new mortgage deferral requests have been increasing, the new numbers coming in are at a decreasing rate. As of May 10, approximately 8.16% of total mortgages were in forbearance – which is only a 0.25% increase since May 3. This has been thus far the lowest increase since March.

However, Ginnie Mae-backed mortgages are an exception to this emerging optimistic trend. Typically, loans issued through Ginnie Mae are for borrowers that either have poor credit or are first-time home buyers, and so far, these kind of borrowers are in the front lines of the pandemics financial ruin. As a result, Ginnie Mae has in excess of 11% of its mortgage loans in forbearance, indicating that the overall housing industry still has a long way to go before it is in a financially stable state.

Source: Mortgage Banker’s Association

Information for this briefing was found via Market Watch and the Mortgage Banker’s Association. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

New Home Sales in the US Show Signs of Rebound in May

Despite the economic turmoil caused by the coronavirus pandemic, it appears that some parts of...

Wednesday, June 24, 2020, 03:22:00 PM

Mall Landlords Across the US Filing for Bankruptcies Amid Brick-and-Mortar Apocalypse

Over the weekend, two major US mall landlords filed for Chapter 11 protection, joining the...

Monday, November 2, 2020, 06:17:00 PM

Rent Prices in San Francisco Plunge as Americans Relocate to Suburbs Amid Pandemic

As densely populated areas across the US become coronavirus hotspots, many Americans have been rapidly...

Sunday, July 5, 2020, 11:15:00 AM

Increase in Rental Vacancies Could Have Significant Impact on Housing Prices

According to economists at Capital Economics, the recent increase in vacancy rates for short-term rentals...

Friday, May 22, 2020, 06:05:49 PM

Canadian Housing Starts Soar 22% In March, To Highest Since 1977

Housing starts across Canada soared to yet another new record last month, as developers rush...

Monday, April 19, 2021, 03:09:00 PM