FICO scores for May mortgage borrowers remain at two-year highs

FICO scores for May mortgage borrowers remain at two-year highs
A strong labor market coupled with lower borrowing costs has put Americans in better shape to get a mortgage, based on average FICO scores and debt ratios for closed loans. The average FICO score for a closed mortgage was 728 in May, matching April’s level that was the highest reading since the end of 2016, according to data from Ellie Mae. Debt-to-income ratios, known as DTIs, matched the prior two months that were the best since mid-2017.
Source: https://www.housingwire.com/rss