St Casimirs Mortgage Minute

Most Consumers Don’t Know Credit Score, Survey Finds
Only 42 percent of consumers know their credit scores, according to an Ipsos survey conducted for ABA and released Friday. The survey of 1,000 American adults found that 56 percent did not know their scores, which is calculated based on consumer credit reports and affects lenders’ credit decisions. “People might have a scare when they apply for a loan and discover that a low credit score could mean a higher interest rate or no loan at all,” said ABA SVP Nessa Feddis. ---ABA Daily Newsbytes