“The overall forbearance rate in June stayed relatively flat with just a 4-basis-point decline from May. Borrowers continue to exit forbearance, but at a much slower pace than six or nine months ago." --Marina Walsh, CMB, MBA Vice President of Industry Analysis.

Last Monday, MBA and a broad coalition of business interests sent a joint letter to congressional leaders stressing strong opposition to tax increases targeted at “pass-through” small business entities. Later in the week, Senator Joe Manchin, D-W.V., also weighed in on tax matters, reportedly casting serious doubt on the future of tax provisions as part of any “slimmed-down” Build Back Better reconciliation package.