The average
"We're witnessing the highest average homebuyer credit scores in years," said Brennan O'Connell, director of data solutions at Optimal Blue, in a press release.
Although the typical borrower had a 737
The high average FICO for purchase borrowers during March indicated homebuyers with lower scores were waiting for more affordable market conditions, O'Connell said. It also suggests there are still many qualified people with strong credit histories actively buying homes.
The trend illustrates one of the upsides of what overall are strong
"It is encouraging to see a strong pool of qualified buyers still actively pursuing homeownership," O'Connell said. "This trend underscores the resilience of the market and the adaptability of consumers in navigating the current economic landscape."
Even in the Federal Housing Administration-insured market, where borrowers are more likely to have less-than-perfect credit, scores have been near their highs for the dataset at 677 in February and 676 in March, according to Optimal Blue. Scores for both loans the Department of Veterans Affairs guaranteed and conforming loans were at their highest since 2021 in March.