10 Jul Coronavirus mortgage bailout sees biggest one-week decline, but more borrowers are extending terms
The number of homeowners in government and private sector mortgage bailout plans declined for the second straight week, as borrowers who got in earliest saw their plans expire.
More borrowers, however, are getting extensions of those initial three-month plans, proving the pain in the market is not over yet.
Roughly 4.14 million loans were in forbearance, representing 7.8% of all active mortgages, down from 8.6% the prior week. That’s the lowest amount since April 28.