FICO Credit Scores Remain Stable Amid Rising Consumer Financial Pressures
The average U.S. FICO credit score remains stable at 714, according to the latest FICO® Score Credit Insights report. However, experts note that this stability is not due to easier financial conditions but rather reflects improved or steady delinquency rates across major loan types amid rising costs for mortgages, auto loans, and credit cards. The report highlights affordability challenges, particularly among lower-scoring borrowers. Mortgage balances have increased significantly since 2019, especially for those with scores below 620, while auto loan balances also rose sharply in the same group. Delinquency rates remained flat or improved across higher score ranges but worsened for the lowest-score bands. Despite financial strain, many Americans are actively managing their credit health by checking FICO scores regularly and using tools like buy now, pay later services to manage expenses. Younger consumers, particularly Gen Z, show a strong awareness of credit management, though they also rely heavily on family support due to rising housing costs.