Credit continued to flow to those with high credit scores, based on information provided by REALTORS® in the October 2014 REALTORS® Confidence Index Survey: http://www.realtor.org/reports/realtors-confidence-index. Almost half of REALTORS® providing transaction credit score information reported FICO credit scores of 740 and above; with normal credit conditions, approximately 40 percent of buyers would have credit scores of 740 and above. About 2 percent of REALTORS reported a purchase by a buyer with credit score of less than 620; in a normal market the credit scores would be closer to 5 percent. As of July 2014, the median borrower FICO score for purchase-only loans was 749, up from about 700—in 2000.
Senior government officials have indicated that mortgage credit should become more available in the foreseeable future. In addition to large financial institutions potential home buyers may find regional and community banks and credit unions as credit sources.