Credit Score Requirements LOWER As Interest Rates CREEP UP!

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Credit Score Requirements LOWER As Interest Rates CREEP UP!

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Posted: 18 Sep 2015 04:00 AM PDT

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%!

By Bill Forst|2019-09-16T14:59:13-07:00September 18th, 2015|

About the Author: Bill Forst

Born in Pennsylvania, I have lived in Ohio, California (where I earned the honor of Eagle Scout at age 17) and for the past 35 years, right here in Arizona. I have been a licensed Real Estate Broker for over 30 years, in both California and Arizona. I spent the majority of my career in the aerospace industry, starting as a machinist and working my way to the top levels of management. In addition, I recently expanded my favorite hobby and became certified as a Level III Golf Instructor. I am married with two sons and have seven wonderful grandchildren. I love my family, most sports including golf and boating, and I love my work and take great pride in applying strong personal ethics in all areas of my life.