A study released today by Experian Consumer Direct has found that consumers with at least one open mortgage have higher credit scores than those who don’t.

The average Experian PLUS Score for consumers with at least one mortgage is 716, compared to 667 for consumers who don’t have a mortgage.

The study also found the average mortgage amount is about $136,000 for U.S. consumers. Only 10 percent of consumer mortgages exceed $250,000.

It also determined that the average number of credit inquiries for home loans is highest during July.

The study was compiled using the Experian National Score Index, which is based on a nationwide sampling of three million consumer profiles. The index is put together using Experian’s consumer credit score model, called the PLUS Score, which is a numeric representation of financial behavior based on information found in a credit report. The score can range from 330 to 830, with a higher score indicating a lower risk.

Experian Consumer Direct is a business unit of Experian, a global information solutions company.

***

Send tips or a letter to the editor to samantha@inman.com or call (510) 658-9252, ext. 140.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription