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Data: CoreLogic; Chart: Axios Visuals

The share of mortgages that went from current to 30 days past due rose to 3.4% in April, the highest reading on record, data firm CoreLogic reported this week. The previous peak in the transition rate was 2% in November 2008.

Yes, but: CoreLogic's data doesn't track whether the delinquencies were related to missed payments or forbearance programs.

  • "The CARES Act provided forbearance for borrowers with federally backed mortgage loans who were economically impacted by the pandemic," CoreLogic noted.
  • "Borrowers in a forbearance program who have missed a mortgage payment are included in the CoreLogic delinquency statistics, even if the loan servicer has not reported the loan as delinquent to credit repositories."

Where it stands: The share of mortgage holders in forbearance jumped from less than 1% in the last week of March to around 8% in the last week of April, MBA's data show.

Zoom in: The vast majority of Americans living in apartments paid their rent in July, according to the National Multifamily Housing Council’s Rent Payment Tracker.

  • As of Monday, 87.6% of apartment households had made a full or partial rent payment.
  • That represented a 2.5-percentage point decrease from the same time last year and was 1.4 percentage points below the share that had paid by this time last month.

Go deeper

Dion Rabouin, author of Markets
Oct 21, 2020 - Economy & Business

Why the stimulus delay isn't a crisis (yet)

Illustration: Aïda Amer/Axios

If the impasse between House Speaker Nancy Pelosi and the White House on a new stimulus deal is supposed to be a crisis, you wouldn't know it from the stock market, where prices continue to rise.

  • That's been in no small part because U.S. economic data has held up remarkably well in recent months thanks to the $2 trillion CARES Act and Americans' unusual ability to save during the crisis.
Ben Geman, author of Generate
6 mins ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

Colin Powell dies from COVID complications at 84

Photo: Paul Morigi/Getty Images for Capital Concerts

Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.

Driving the news: The Powell family said in a statement that he was fully vaccinated. "We want to thank the medical staff at Walter Reed National Medical Center for their caring treatment."