Total consumer credit applications were down 9.03% from January to October 2009 compared to the same period in 2008. Hire purchase applications decreased 20.45% while personal loan applications declined 4.05% and credit card applications dropped 13.38%, with those under 28 (Gen Y) seeing a 19.09% decrease. Mortgage applications rose 20.20% overall but increased even more for baby boomers at 25.63%. Consumer defaults increased 4.29% and among baby boomers were up 16.80%. Commercial inquiries and defaults fell 14.60% although commercial defaults rose 49.47%.