How Will Forbearance Rates Affect the Real Estate Industry?
- January 8, 2021
- Posted by: michellene
- Category: Uncategorized
The US forbearance rate recently increased to 5.54%. This means that an estimated 2.8 million homeowners are in forbearance, according to the Mortgage Bankers Association. So what does this mean for the real estate industry? First, let’s define forbearance. Forbearance is when a mortgage service or lender allows homeowners to temporarily pause or decrease