New data from our McDash Flash Forbearance Tracker shows that the last full week of February saw the number of active forbearances climb once again, increasing by 21,000 (+0.8%). With this weekly increase, the number of homeowners in a forbearance plan rose above 2.7 million once again after falling below that threshold for the first time since April 2020 earlier this month.

Portfolio-held and privately securitized mortgages saw the largest weekly forbearance increases, growing by 16,000 (+2.4%), followed by FHA/VA mortgages, which increased by 7,000 (+0.6%). The number of outstanding GSE forbearances fell by 2,000 (-0.2%) from last week.