4.21.21
New research published by Transunion found that during the pandemic, U.S consumers prioritized their mortgage payments ahead of auto and credit card debt, strengthening a trend that has been in place since 2017. Transunion attributes the rise in home prices, which resulted in rising home equity, and the new importance of housing when working from home as drivers of this trend. TransUnion also noted that accommodation programs has helped mortgage loan performance, with subprime and near prime mortgage borrowers benefiting the most because they were able to delay payments while maintaining their loans.