The Week Ahead How Credit Score Impacts Mortgage Terms

first_img Share This week, LendingTree’s Chief Economist Tendayi Kapfidze will release analysis of lender offer data using a sampling of borrowers with a range of credit scores. LendingTree announced that the report aims to provide insight to how credit score impacts mortgage offers.According to a preview of the report, purchase APRs for conforming 30-year fixed loans offered on LendingTree’s platform were down 3 bps to 4.31 percent in October. Consumers with the highest FICO scores (760+) saw offered APRs of 4.18 percent in October, compared to APRs of 4.44 percent for consumers with scores of 680-719. The average purchase down payments for mortgages have also been rising for seven months and have reached $59,680. Refinance APRs for conforming 30-year fixed loans were up 10 bps to 4.26 percent. Finally, average monthly payments barely changed at just over $1,100 for both purchase and finance. The full LendingTree monthly report will be released during the week.Also to be released this week:Treasury Budget, Monday, 2:00 p.m. ESTNational Association of Home Builders Housing Market Index, Thursday, 10:00 a.m. ESTHousing Starts, Friday, 8:30 a.m. ESTValueInsured Fall 2017 Modern Homebuyer Survey in Daily Dose, Data, Featured, News November 12, 2017 502 Views center_img The Week Ahead: How Credit Score Impacts Mortgage Terms 2017-11-12 Staff Writerlast_img

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