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Residential, US Real Estate

Renters' credit scores are improving

By Mike Wheatley | February 8, 2021
Renters are on the whole managing to improve their credit ratings, even as many struggle to cope with the financial consequences of the coronavirus pandemic. A new analysis by RENTCafe of more than 5 million lease applications in the U.S. shows that landlords are approving new tenants with higher credit scores than in previous years. […]
Mortgage, US Real Estate

Now is the best time to secure a mortgage, study finds

By Mike Wheatley | February 1, 2021
Home buyers should move quickly if they want to lock in the best possible terms on their mortgage, as the winter months typically see lenders providing much better deals on their loans. A new study by home finance startup Haus found that lenders typically offer discounts of up to 20 basis points in January compared […]
Mortgage, US Real Estate

U.S. credit scores reach record high in 2019

By Mike Wheatley | March 5, 2020
Credit scores in the U.S. are improving, especially among millennials, according to a new analysis by the credit rating agency Experian. The analysis shows that the average FICO score in the U.S. hit a record high of 703 in 2019, while the share of Americans with a score of over 700 hit 59%, the highest […]
Mortgage, Real Estate

Here's how long it takes for your credit to recover after buying a home

By Mike Wheatley | November 12, 2018
It takes around 11 months for a consumer’s credit score to recover after purchasing a home, a new study by online loan marketplace LendingTree has found. When a consumer buys a home, their credit score drops by an average of 15 points, but only after 160 days, or just over five months. That’s because it […]
Residential

RE/MAX Realtor Erica West Illustrates Why Credit Scores Still Count for Seniors

By Press Release | May 17, 2016
Many seniors whose mortgages are paid off, are retired and don’t expect to borrow money at this phase of their life assume their credit score no longer matters. “However, this is simply not true, and good credit can be a key factor in how you live out the rest of your days,” said RE/MAX Sun […]
Home Buying

Low Credit Scores May Dash Millennials’ Home-Buying Dreams

By Guest Author | April 24, 2016
Nearly a third of millennials (ages 18 to 34) hope to purchase a home within the next year, but more than 40 percent may not have the credit to do so(1), according to a new TransUnion (NYSE: TRU) survey released today.TransUnion’s survey of 1,843 consumers found that while 32 percent of millennials say they plan […]
Real Estate, Residential, US Real Estate

Foreclosures and FICO Scores Where Do You Stand

By Brian Kline | July 31, 2015
It's past the time that want-to-be home buyers understand the real relationship between a previous foreclosure and the current impact on credit scores. Much of the impact on today's credit score has little or nothing to do with a foreclosure happening three to six years ago. Known as boomerang buyers, according to the National Association […]
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