Mortgage credit availability decreased in December, the Mortgage Bankers Association reported this morning.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased to 5.46% of servicers’ portfolio volume as of Jan. 3 compared to 5.46% the prior week. MBA estimates 2.7 million homeowners are in forbearance plans.
The Mortgage Bankers Association issued the following statement yesterday in response to last week's violence at the U.S. Capitol:
The recent surge in COVID-19 infections dampened U.S. hotel performance expectations, but news of effective vaccines has bolstered recovery projections beginning second-half 2021, sector analysts said.
The COVID-19 pandemic continued to impact the labor market to close 2020. Friday's release from the Bureau of Labor Statistics showed that faster layoffs led to a loss of 140,000 jobs in December and kept the headline unemployment rate (U-3) at 6.7 percent.