Credit Scores In The US Hit Record High!

Credit Scores In The US Hit Record High!

Your credit score plays a huge role in your ability to buy a home. Generally speaking, the better your credit score, the better the interest rate you will be able to get on your mortgage—and the more money you will save over the course of your loan.

And the good news? Right now, there are a lot of Americans out there with the credit score necessary to secure those savings.

According to the 2019 Consumer Credit Review from Experian, the percentage of Americans with a credit score above 700 (which is considered “good” credit by most lenders) hit 59 percent—the highest percentage on record.

The Takeaway:

So, what does that mean for you? With credit scores at an all-time high and interest rates hovering near an all-time low, it is a great time to get into the real estate market—so if you have been thinking about buying a home or refinancing your current one, now would be a good time to check your credit score and make a move.