Freddie Mac

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.

But both fell short under the Duty to Serve goals in rural housing.

Also: Fannie Mae announces imminent implementation of hedge accounting.

The government-sponsored enterprise also saw a 22% increase in net worth from the second quarter.

Mortgage rates remained relatively flat this week, helping housing to stay as one of the bright spots in the U.S. economy during the current uncertainty, according to Freddie Mac.

A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

Leadership from those entities confirmed this week that they will move forward with a plan to add a controversial 50-basis-point charge for refinancing.

The overall forbearance rate was under 6% for the first time since April as another large swath of loans fell out of CARES Act coverage, according to the Mortgage Bankers Association.

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.