Mortgage Originations by Credit Score, Foreclosures Decrease

by Calculated Risk on 8/05/2025 11:44:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Q2 NY Fed Report: Mortgage Originations by Credit Score, Foreclosures Decrease

A brief excerpt:

The NY Fed released the Q2 Quarterly Report on Household Debt and Credit this morning. Here are a few charts from the report.

Note: The Liberty Street Economics blog today focused on “borrower trends in the mortgage market across balances, delinquency rates, credit scores, and geography”.

The first graph shows mortgage originations by credit score (this includes both purchase and refinance). Look at the difference in credit scores in the recent period compared to the during the bubble years (2003 through 2006). Recently there have been almost no originations for borrowers with credit scores below 620, and few below 660. A significant majority of recent originations have been to borrowers with credit score above 760.