The national average FICO score remains stable at 714, but delinquencies and payment burdens rise for lower-score borrowers amid higher costs.
The average U.S. FICO credit score held steady at 714 in October, unchanged from a year ago but down one point from the prior period. The stability masks growing financial pressure on lower-income and thin-file borrowers, who face higher delinquency rates and payment burdens.
Mortgage balances for borrowers with scores below 620 surged 43% since April 2019, while auto loan balances for the same group rose 36%. Delinquencies of 90-plus days increased exclusively among the lowest-score bands, remaining flat for higher-score borrowers. Average monthly payments for first-time homebuyers jumped 57% since 2019.
Lenders use FICO scores to assess creditworthiness for mortgages, credit cards, and loans. The report highlights affordability challenges as rising costs in housing, auto loans, and credit cards strain household budgets.