Credit Demand From Americans Fell During the Pandemic–Except in One Major Way

MarketWatch, May 20, 2021–Jacob Passy
There was one type of loan that experienced a surge in demand throughout the pandemic: Mortgages. “The big outlier in these reported trends is a dramatic increase among mortgagors in mortgage refinance applications during the pandemic, with many mortgage loan borrowers taking advantage of low interest rate,” the New York Fed reported (MBA mention)