"Mortgage forbearance has declined because most homeowners have maintained or improved their financial health. Recent reporting by the U.S. Bureau of Labor Statistics shows continued job growth in June and a 3.6 percent unemployment rate. The employment situation tracks with homeowners’ ability to make mortgage payments." --Marina Walsh, CMB, MBA Vice President of Industry Analysis.

Share buybacks by large banks will likely remain subdued this year despite "encouraging" results from the Federal Reserve's latest stress test, S&P Global Ratings said in a non-rating action titled “Banks Held Up Well In The Fed's Stress Test, But They Likely Won't Ramp Up Share Buybacks.”