While many new home loans were given to borrowers during the second quarter, lenders were still extremely selective as to who received these funds. The median credit score for borrowers who received a new mortgage in the second quarter was 759, which falls within the “very good” range on most trackers. Only 10% of borrowers had credit scores under 651.
This stinginess on the part of lenders appears to be paying off in terms of delinquency rates.
They're making sure of no repeat of the last housing market crash, which of course, is a good thing.
REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries
Previous Goal: Garden til APR 2020 (extended) and 800 Club (accomplished)
DEC 2019: EX 816, TU 820, EQ 810 DEC 2018: EX 777, TU 783, EQ 799 DEC 2017: EX 775, TU 778, EQ 769