Thats because anyone with a 2.5% mortgage would rather die before losing their home.
34% of mortgages are below 3% interest rate, which means their house payment is at least 30% cheaper than renting. Nobody is going to give that up easily.
Here you could easily go from a 3/3 single family home to a 2br apartment for the same price monthly. Which means you would need to move into a 1br apartment to save any money.
All this to say, the first thing to go is the credit card payments, then the car payments, and finally the mortgage payments.
34% of mortgages are below 3% interest rate, which means their house payment is at least 30% cheaper than renting. Nobody is going to give that up easily.
Here you could easily go from a 3/3 single family home to a 2br apartment for the same price monthly. Which means you would need to move into a 1br apartment to save any money.
All this to say, the first thing to go is the credit card payments, then the car payments, and finally the mortgage payments.