Posted To: MND NewsWire
If you were to review a pile of mortgage applications randomly pulled from all of those submitted what age group do you think would look the best, the most creditworthy on paper? Trick question? Not at all. CoreLogic Economist Archana Pradhan recapped such a review in the company's Insights blog and the results were just what you would expect. The older the borrower, the stronger the credit profile. Looking at the application information by age group she found the lowest credit scores belonged to Millennials , those who are 19 to 35 years of age this year. The average score for members of that age group who applied for a mortgage between March and May 2016 was 730 compared to 770 for the Silent Generation (those 71 and older.) In the middle of the progression were Gen Xers, the 36 to 51 year...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/29yANL1
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