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The average credit score in the United States hit an all-time high in 2018, according to a new report from the credit scoring company FICO. The average FICO credit score reached 704 in April—up four points from the year prior, according to the semiannual report released in late September. The steady improvement in credit quality signals American consumer credit and financial health is strong as the Federal Reserve’s rate hikes make borrowing more expensive.
If you are thinking about buying a home next year, this is a great time to work on your credit score to ensure it is as high as possible to get you the best interest rate. If you need a referral to someone who can help you with that, please don’t hesitate to contact us at 512-730-1252 or info@AustinTxHomeSales.com.