Among its myriad impacts, COVID-19 quickly altered the pecking order of borrower debt priorities, according to TransUnion.

The credit bureau and data provider tracked annual consumer patterns in its Global Payment Hierarchy study. Mortgages beat out credit cards and auto loans for the lowest 30-day delinquency rate for the 27.8 million U.S. consumers holding all three loan products. While forbearance programs helped dampen those numbers, the year-over-year shift during the pandemic indicates how borrowers put heavier emphasis on the importance of theirhomes as prices surged.

The delinquency rate for mortgages fell to 0.75% in the third quarter of 2020 — the only rate below 1% since at least 2016 — from 1.28% the year before. Over that same time frame, auto loan delinquency rates fell to 1.13% from 1.42% and credit cards went to 1.95% from 2.62%.

“Mortgage is once again the clear priority for U.S. borrowers,” Matt Komos, TransUnion’s U.S. head of research and consulting, said in the report. “The mantra, ‘you can’t drive your home to work’ doesn’t have the same effect when millions of Americans are waking up, showering, eating breakfast and taking only a few steps to their home office.”

Transunion’s study showed perceived consequences of late payments played an important part in the shifting hierarchy. About 60% of borrowers said they expected a call from their lender for missed mortgage payments compared to 52% for credit cards.

Going forward, factors like interest rates and pandemic fallout will influence borrower decisions and the overall lending landscape.

“We may continue to see prioritization of mortgage payments over other products if property values continue to increase, the trend of working from home continues, unemployment continues to improve, and various other factors that could keep mortgage as the top priority,” Komos told NMN.