Wednesday, January 27, 2021

Tag: Home Sales Plunge

Mortgage Forbearance Balloons, Home Sales Plunge

by Wolf Richter, Wolf Street:

In addition to logistical difficulties of selling a home in the era of social distancing, there is the explosion of a historic unemployment crisis.

By the end of April, there will be 4.2 million mortgages in forbearance, or 7.6% of all mortgages, the American Enterprise Institute estimated in a note, based on forbearance data through April 19 released by the Mortgage Bankers Association yesterday.