Average homebuyer credit score has dropped

Screen Shot 2015-10-29 at 10.00.49 AMBy Christine DiGangi | Yahoo Finance

Last month, the average homebuyer’s credit score was at its lowest level in at least four years, according to a report from mortgage software company Ellie Mae, which processed 3.7 million loan applications last year. Borrowers whose mortgages closed in September had an average FICO credit score of 723. That’s the lowest the average credit score has been since Ellie Mae started reporting it in August 2011.

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