MaxDecisions: COVID-19 Impact to Personal Credit & Mortgage -- Part 2

MaxDecisions released a follow-up analysis examining how the pandemic affected personal credit and mortgage trends, tracking approximately 2 million consumers with credit data through December 2020.

The research analyzed delinquency rates and spending patterns across all credit segments, from super-prime to sub-prime, revealing unexpected patterns including a 12% disappearance of subprime consumers following the pandemic’s onset, and counterintuitive declines in delinquency for certain segments.

The analysis also explored mortgage refinancing behavior, finding notable regional variation -- for example, roughly 1 in 3 people in Utah were looking to refinance. MaxDecisions offered the white paper to help the industry discuss consumer wellbeing, socioeconomic implications, and stimulus effects.