According to the latest statistics supplied by Fair Isaac Corporation nearly 20 percent of consumers has a FICO score of 800 or higher. This 19.9 percent score is up from 19.6 percent just six months ago. Moreover, fewer and fewer consumers have scores below 550, a trend that has been consistent since 2009.
Currently the average national FICO score of 695 is at it’s highest point since Fair Isaac Corporation began tracking in October 2005.
While some analysts see the improvement in credit scores leveling off, it’s important to remember that FICO scores remain of the three key metrics that lenders use to evaluate and ultimately determine rates on home loans.