PHH Webinar Series; Agencies to Buy One Month's Worth of Production - Similar to 2020; In-Person Events for 2026 A frequent topic in this Commentary is how lenders are responsible for only a small portion of the affordability issue. A big hit to affordability is insurance, and thank you to Kevin K. for passing along this story focused on fire resilience and home upgrades and how they may address insurance costs. Trying to plan for natural events is a full-time job that occupies many, as is thinking about t ...

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]