Who'd have guessed! California Has Highest Credit Scores in Nation

by 16 Feb 2012

A recent study by Mortgage Marvel® (www.MortgageMarvel.com) found that California mortgage applicants, for the second year in a row, have the highest average credit scores in the nation at 754 -- a full 24 points above the national average of 730. Mississippi mortgage applicants, again for the second year in a row, had the lowest average credit score of 686, which is 44 points below the national average.

The information was compiled by analyzing more than 330,000 mortgage applications received in 2011 by clients of Mortgagebot®, a D+H company. Mortgagebot is the owner of Mortgage Marvel and the provider of the PowerSite® suite of integrated point-of-sale solutions, which enables lenders to efficiently take complete mortgage applications in every mortgage delivery channel: consumer-direct via the Internet, in the branch or call center, or through professional loan officers.

[caption id="attachment_6491" align="alignleft" width="621" caption="Credit scores by state"]California, credit, scores, score, highest, mortgage, real estate, credit report, buying, selling, realtor[/caption]

Western, Northeastern States Dominate Top 10
Of the states with the highest average credit scores, four are in the West and five are in the Northeast. There was only one state in the top ten, Wisconsin, from another region (Midwest).

Credit Score Ranking - Top 10 U.S. States
Rank in 2011 State (Rank in 2010) Region Average Credit Score 2011 (2010)
1 California (1) West 754 (755)
2 Oregon (4) West 750 (751)
3 Wisconsin (5) Midwest 749 (747)
4 Hawaii (2) West 748 (752)
5 Connecticut (3) Northeast 745 (751)
6 Rhode Island (7) Northeast 745 (745)
7 New Hampshire (9) Northeast 741 (744)
8 Washington (11) West 741 (744)
9 Massachusetts (8) Northeast 740 (744)
10 Maryland (22) Northeast 740 (734)

Southeast and Southwest Regions Fall Below Average

The Southeast occupied five of the 10 lowest credit score positions. Mississippi, for the second year in a row, had the nation's lowest average credit score.

Credit Score Ranking - Bottom 10 U.S. States
Rank in 2011 State (Rank in 2010) Region Average Credit Score 2011 (2010)
41 Tennessee (48) Southeast 708 (704)
42 Michigan (41) Midwest 708 (716)
43 Kentucky (34) Southeast 708 (724)
44 Alaska (39) West 706 (722)
45 Wyoming (44) West 704 (716)
46 Oklahoma (45) Southwest 701 (710)
47 Louisiana (46) Southeast 698 (709)
48 West Virginia (49) Northeast 697 (700)
49 Arkansas (47) Southeast 691 (707)
50 Mississippi (50) Southeast 686 (695)

 

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