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The Mortgage Bankers Association (MBA) has confirmed the findings that Black Knight reported on Monday morning that, while the number of forbearances in effect as a result of the COVID-19 pandemic continues to rise, the rate of increase slowed as April progressed. MBA said its weekly survey found the number of loans in a forbearance plan increased from 6.99 percent of loans being serviced on April 19 to 7.54 of the total as of April 26. MBA estimates that 3.80 million homeowners are now in forbearance. "The share of loans in forbearance increased once again in the last full week of April, but the pace of new requests slowed, " said Mike Fratantoni, MBA's Senior Vice President and Chief Economist. "With millions more Americans filing for unemployment over the week, the level of job market distress
Housing News
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The Mortgage Bankers Association (MBA) has confirmed the findings that Black Knight reported on Monday morning that, while the number of forbearances in effect as a result of the COVID-19 pandemic continues to rise, the rate of increase slowed as Apr... (read more)
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MBS Commentary
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The Federal Reserve's capacity and willingness to engage in aggressive easing measures is often described as a "bazooka." This likens it to an imprecise and indiscriminate weapon of immense power with a wide area of effect. Imagine Bernan... (read more)
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Housing News
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Black Knight's new Mortgage Monitor restates some of the statistics on COVID-19 related forbearance plans it released late last week - i.e. that the number of those plans had reached 3.8 million by April 30. But it makes one additional point. The num... (read more)
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Rob Chrisman
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May the 4th be with you as the use of the word “unprecedented” continues to be… unprecedented. While in captivity it is important to get out outside once in a while and see the countryside . Of course hairdressers around the nation... (read more)
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Housing News
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Construction spending posted a gain in April, rising 0.9 percent to a seasonally adjusted annual rate of $1.36 trillion from a revised estimate of $1.35 trillion in February. This was a 4.7 percent rate of growth compared to March 2019 when the rate ... (read more)
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Mortgage Rate Watch
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Mortgage rates moved down again today, bringing the average lender to their best levels since the 2nd week of March. Some lenders are quoting their lowest rates ever, but early March 2020 averages are still decidedly lower. You may have seen other ar... (read more)
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