Photo: Richard Baker/In Pictures via Getty Images

The total number of home loans now in forbearance increased to 8.36%, according to the latest report from the Mortgage Bankers Association, and that number could be higher but many Americans aren't aware they have the option.

What it means: Fannie Mae's latest national housing survey finds that only half of mortgage holders and just a third of renters know about relief programs, including the forbearance program now available because of the CARES Act.

Details: The survey finds that just half of mortgage holders understand what forbearance is.

  • One in three don’t understand what a loan modification entails. 
  • More than 60% of homeowners with a mortgage were unaware of any mortgage payment deferral offer from their lender.

Why it matters: The increase of borrowers in forbearance has slowed rapidly in recent weeks, but could pick up steam again once more borrowers learn about the programs.

  • That could provide an additional boost to the economy, but could also spell trouble for mortgage servicers and the mortgage-backed securities market.

The big picture: The current level of borrowers taking advantage of the forbearance program means that American consumers have $7.9 billion a month available to spend that otherwise might be going to a monthly mortgage payment, according to an analysis by Cowen Research Group.

Go deeper: Coronavirus is squeezing more people out of the housing market

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Trump commutes Roger Stone's sentence

Roger Stone arriving at his sentencing hearing on Feb. 20. Photo: Drew Angerer/Getty Images

President Trump on Friday evening commuted the sentence of his longtime associate Roger Stone, according to two senior administration officials. Stone in February was sentenced to 40 months in prison for crimes including obstruction, witness tampering and making false statements to Congress.

Why it matters: The controversial move brings an abrupt end to the possibility of Stone spending time behind bars. He had been scheduled to report to prison on July 14.

Updated 6 hours ago - Health

Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 12,389,660 — Total deaths: 557,279 — Total recoveries — 6,830,596Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: The reality of the coronavirus bites.
  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
  5. 🎧 Podcast: Rural America has its own coronavirus problem.