Credit Score Requirements LOWER As Interest Rates CREEP UP!

Credit-Needed

Some Highlights:

  • The average 30-year rate for all loans closed in August eclipsed 4.3% for the first time since October 2014.
  • The average FICO score for all closed loans in August reached a new yearly low at 724 (the lowest since February 2014!)
  • The average down payment of FHA loans closed was just 4%!

 

 
JoAnn Petrosino, REALTOR®, ABR, CRS, GRI, CHMS, CNS
Coldwell-Banker Apex Realtors®

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