Economists' Outlook

Housing stats and analysis from NAR's research experts.

REALTORS® Continue to Report Tight Credit

About 59 percent of REALTORS® reported that a sample of buyers in July had FICO credit scores of 740 and above. In the 2001-04 time frame approximately, 40 percent of residential loans acquired by the Fannie Mae and Freddie Mac went to applicants with credit scores above 740. REALTORS® continued to report that obtaining a mortgage remains “difficult”, “long” and “complicated”, even for borrowers with “strong ” credit scores. Only 2 percent of REALTORS® reported a purchase by a buyer with a credit score of less than 620.


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