Core Insights - The average credit score for U.S. homebuyers has reached an all-time high of 736, indicating a significant increase in creditworthiness among buyers [1][4] - Mortgage credit scores are approximately 20 points above the national average, reflecting a shift towards higher-income and financially stable households in the buyer pool [2] - Lenders are becoming more cautious, favoring low-risk applicants due to rising delinquency rates, which have increased to 3.43% [3] Summary by Category Credit Score Trends - The average credit score for approved mortgages has seen a steep increase to 736, the highest recorded level [1][4] - This marks a significant shift from the low 700s range that was common for much of the past decade [4] Buyer Demographics - The current buyer pool is increasingly composed of higher-income households with strong credit and larger down payments, filtering out less-qualified buyers [2] - First-time buyers and those with thinner credit histories are particularly affected by the current affordability challenges [2] Lending Practices - Lenders are prioritizing low-risk applicants due to higher delinquency rates, which have risen by 16 basis points in August [3] - The national delinquency rate is up 10 basis points compared to the same time last year, indicating a cautious lending environment [3]