Summary
Looking at the data from Compete’s consumer panel, there were several significant swings in activity compared to a year ago (see note 1):

• Credit card applications, up 37%
• Checking account applications, up 28%
• Home equity applications/leads (see note 2), down 34%
• Refinance applications/leads, up 41%

 Commentary

• Credit cards seemed to settle down after the large jump in March. Both shoppers and applicants were down 1% compared to March, but year-over-year applications were up 37% (in comparison, last month card apps were up 53% compared to a year earlier)
• Deposit shopper volume stayed relatively consistent except for checking which saw a 9% increase. However, applicants for savings and high-yield savings dropped 17% and 12%, respectively. Last year, high-yield savings accounts were more in demand, with 50% more applications in April 2007 compared to April 2008. Declining interest rates appear to be impacting consumer demand. 
• In the home-secured sector, there was more activity in the refinance sector with a 4% gain in shoppers and a 3% gain in applications compared to last month. Compared to a year ago, refinance apps were up sharply 41%. 
• Purchase mortgage activity was flat.
• Home equity showed a significant decline, with shopping down 8% from March and down 17% from a year ago. Application levels were flat compared to last month, but down 34% year-over-year.

About the Financial Services Scorecard
A year ago, we introduced the Financial Services Monthly Performance scorecard produced by Compete. It summarizes the overall performance of 23 large U.S. financial institutions and lead-generation sites. Refer here for the detailed methodology as well as companies tracked.

Notes:
1. Year-over-year comparisons were added to the chart beginning in March. Because of ongoing methodology tweaks, the percentages in this table may be slightly different than if you went back to the data from a year ago and calculated the change. 

2. Leads/applicants = Leads or applications depending on whether the site being tracked is a lead-generation site or an actual lender.