In Monday's episode, I talk about the Share of Mortgages in forbearance drops to lowest levels since April 2020; consumerfinancegov.com defines "Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. You will have to pay the payment reduction or the paused payments back later." The total share of mortgage loans in forbearance decreased from 6.93 % of servicers' portfolio volume to 6.87 % during the week ending Sept 20th, according to the Mortgage Bankers Association's latest forbearance can call volume survey.
Missouri Update: The national unemployment rate in September decreased by 7.9% as payrolls grew by 661,000 jobs. For the week ended Sept 26, about 7,300 people in Missouri filed initial unemployment claims, lower than any week since the initial surge of pandemic-related job losses in March.
Smithville Update: Nothing sexy about waste. The City of Smithville operates 29 wastewater pump stations. Each pump station requires frequent inspection and maintenance by City staff to ensure they are operating as intended. The capacity of these pump stations and common force mains are frequently the limiting factor in allowing development to occur within the City of Smithville.
