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Mortgage Bankers Association lowers refinancing expectations for 2021

Mortgages have had the largest increase in delinquencies in the pandemic recession, but analysts said they believe most borrowers have been in better shape than expected because of federal relief and loan accommodations.

With Biden in office and all three branches under Democratic control, the prospects for greater relief have risen, which in turn will allow more borrowers to stay current on their payments.

Gavin Harding, a senior business consultant for Experian, said Wednesday that many households that depend on jobs in restaurants and other hospitality sectors are still suffering in the pandemic recession, but many more are faring well.

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Jim DuPlessis

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