5 min

What FICO's Change In Credit Scoring Means For You | The 5 Danny Brown Talks Phoenix

    • Business

Happy Friday! 👊🏻 I just released a new episode The 5 and wanted to give you a little detail about what I updated you on this week:

1. Second quarter earnings – they are set to be the worst in more than 10 YEARS!
2. The Senate is still contemplating a 2nd stimulus check coming – Senate Majority Leader Mitch McConnell was quoted saying that they will begin debating an additional rescue package which will include another direct payment to those in need.
3. Change in FICO scoring – changes that are taking place will affect the way creditors and banks evaluate your overall credit. They are going to start looking at your entire credit story rather than just a snapshot in time.
4. Real Estate – The Cromford Report stated that there was a significant change this last week in inventory. A total of 2,103 homes were added to the MLS in the last 7 days. This is up over 19% compared with this same period in 2019, and up over 8% compared with the same 7 days in 2018.
5. Mortgages – applications are back up over 5% last week while refinancing was up 12% from the previous week. Forbearance has dropped and is now at 6%.

Let me know below if you have any questions or comments on this week’s episode! See you next Friday!

Watch on YouTube: https://youtu.be/WI9M_0phNkY

Website: http://www.MyriadAZ.com/
Facebook: http://www.Facebook.com/MyriadRealEstate
Daniel's Instagram: https://www.instagram.com/dannybrownaz/
Myriad's Instagram: https://www.instagram.com/myriadaz_/

Happy Friday! 👊🏻 I just released a new episode The 5 and wanted to give you a little detail about what I updated you on this week:

1. Second quarter earnings – they are set to be the worst in more than 10 YEARS!
2. The Senate is still contemplating a 2nd stimulus check coming – Senate Majority Leader Mitch McConnell was quoted saying that they will begin debating an additional rescue package which will include another direct payment to those in need.
3. Change in FICO scoring – changes that are taking place will affect the way creditors and banks evaluate your overall credit. They are going to start looking at your entire credit story rather than just a snapshot in time.
4. Real Estate – The Cromford Report stated that there was a significant change this last week in inventory. A total of 2,103 homes were added to the MLS in the last 7 days. This is up over 19% compared with this same period in 2019, and up over 8% compared with the same 7 days in 2018.
5. Mortgages – applications are back up over 5% last week while refinancing was up 12% from the previous week. Forbearance has dropped and is now at 6%.

Let me know below if you have any questions or comments on this week’s episode! See you next Friday!

Watch on YouTube: https://youtu.be/WI9M_0phNkY

Website: http://www.MyriadAZ.com/
Facebook: http://www.Facebook.com/MyriadRealEstate
Daniel's Instagram: https://www.instagram.com/dannybrownaz/
Myriad's Instagram: https://www.instagram.com/myriadaz_/

5 min

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