by Mike ‘Mish’ Shedlock
The number of mortgage loans in forbearance plans rose by 79,000 this past week. This was the first jump in three weeks.
Black Knight reports forbearances rise following three weeks of declines.
– Overall, the number of active forbearance plans is up 79K from last week – erasing roughly half of the improvement seen since the peak of May 22 – with rises seen over each of the past five business days.
– As of June 23, 4.68 million homeowners are in forbearance plans, representing 8.8% of all active mortgages, up from 8.7% last week. Together, they represent just over $1 trillion in unpaid principal ($1,025B).