The U.S. mortgage forbearance rate dropped to a three-month low of 7.7% this week as more Americans were able to pay their loans on time, Black Knight said in a report on Friday.

It was the lowest share of mortgages with suspended payments since late April, when New York was the center of the COVID-19 pandemic. That share represents 4.1 million loans that remain in forbearance as of July 28, Black Knight said.

The data was released on the same day as the expiration of the $600 per week federal unemployment benefit, part of the CARES Act passed by Congress to keep jobless Americans current on their bills.

Typically, unemployment insurance only replaces about 50% of a person’s former salary. Forbearances could begin to increase

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