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Approximately 4.9 million households did not make their rent or mortgage payments last month, according to new research released by the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA).

That’s slightly down from 5.0 million households in December to reach the lowest number since the COVID-19 pandemic began. Some 4.9% of homeowners — approximately 2.33 million households — missed, delayed or made a reduced payment on their mortgage in March. Homeowners fared better than renters, with 7.7% of renters, or 2.56 million households, missing, delaying or making a reduced payment.