In terms of being an outlier relative to past business cycles, the current experience for home mortgages is similar to that of commercial mortgages in the 1990-91 recession, which is shown in the top-right panel. In the downturn following the 1990 business cycle peak, commercial mortgage volumes contracted after having never contracted (in nominal terms) before that.
This downturn also included a financial crisis, although then it was due to commercial real estate rather than residential real estate, as it is now. Given the similarities between these two business cycle downturns, it seems interesting to compare them. A comparison of the current downturn with the one that followed the 1990:Q3 peak.