Nick, & Cindy Davis

FICO Credit Scores Increase to Record High

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More home-buyers are eligible for low rates on mortgages after the average FICO score rose to 706. In post-recession 2009 it had been 686; in pre-recession 2006 it was 690.

Credit scores are rising, which bodes well for mortgage seekers trying to secure the best available rates. The average FICO credit score, which is a commonly used to measure of a person’s creditworthiness, stands at 706, a record high, as outlined by newly released FICO data.

 

FICO Credit Scores Increase to Record High

FICO Credit Scores Increase to Record High

 

For comparison, in 2009 at the end of the Great Recession, the average FICO score was 686. In 2006 throughout the housing bubble scores averaged 690.

A FICO score in the range of 670 to 739 is regarded as “good,” and between 740 to 799 is “very good,” according to FICO.

“Significant improvement in the overall population’s credit profile has been the key driver of the 20-point increase in the national average FICO score over the past decade,” writes Ethan Dornhelm, vice president of scores and predictive analytics at FICO. “These improvements are reflective of improving consumer financial health, as would be expected during a period of economic expansion.”

A well balanced and growing economy with low unemployment, higher wages and greater financial health is behind the rise in FICO scores, Dornhelm says. But he also notes that an surge in consumer awareness of FICO scores has also been leading to the larger numbers lately. Additionally, consumers who had negative information on their credit profiles from the Great Recession have since seen them removed, allowing their scores to rise.

“Consumers who suffered financial misfortune during the Great Recession have over the past few years had the associated missed payments from that time period purged from their credit file,” he says.

One of the big factors contributing to higher scores is the growth of on-time mortgage payments, Dornhelm adds. In April, just 2.8% of consumers were 90 days or more late on a mortgage payment during the last two years, as compared to 7.2% in 2009.

Millennials, who are between the ages of 23 and 38, have had much less time to build up a credit history so they are apt to have lower credit scores than older adults. The average FICO score for a millennial in the fourth quarter of 2018 was 665 in comparison with baby boomers’ 732 and the silent generation’s 756, as reported by data from Experian.

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.

Need to get started with your mortgage process? You can contact Kyle Edwards with Iberia Bank at 813-495-5131, or simply click here to start your online application.

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(all data current as of 12/4/2025)

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