Comments on: The Difference between a 679 and a 680 Credit Score http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Porter http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-337689 Rhonda Porter Tue, 17 Mar 2009 20:31:55 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-337689 Patrick, I'd have to see your entire credit report before I could advise you--I've not heard of a credit score profiler. If you pay off your credit cards--do not close them and do use them to purchase a tank of gas every month and then pay it off monthly. THAT will help boost your credit score. Good luck! Patrick, I’d have to see your entire credit report before I could advise you–I’ve not heard of a credit score profiler. If you pay off your credit cards–do not close them and do use them to purchase a tank of gas every month and then pay it off monthly. THAT will help boost your credit score. Good luck!

]]> By: Patrick http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-337685 Patrick Tue, 17 Mar 2009 19:46:11 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-337685 I currently have a credit score of 667 without a mortgage loan and using the credit score profiler, if I pay off my credit credits my score will boost to 680. If I get a home equity loan on my current property now or after my score boosts to 680, my score will jump to 700's. I would wait to apply for a home equity loan after I get my score up to 680. By the way, I would have to wait until 1/2011 for the number of inquiries to be less of an impact on my score. DONT ASK! I currently have a credit score of 667 without a mortgage loan and using the credit score profiler, if I pay off my credit credits my score will boost to 680. If I get a home equity loan on my current property now or after my score boosts to 680, my score will jump to 700’s. I would wait to apply for a home equity loan after I get my score up to 680. By the way, I would have to wait until 1/2011 for the number of inquiries to be less of an impact on my score. DONT ASK!

]]> By: Rhonda Porter http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319448 Rhonda Porter Wed, 11 Jun 2008 16:20:11 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319448 Thanks QDiddy...bonds determine mortgage rates and inflation will drive mortgage rates up. We're having a better day today because the stock market is getting whammo'd (due to oil) and people are pulling their funds from stocks to seek the safety of bonds (such as mortgage backed securities). Yesterday, one of the lenders I work with issued 4 rate sheets (intraday rate changes). It's an amazing time to be in this industry! Thanks QDiddy…bonds determine mortgage rates and inflation will drive mortgage rates up. We’re having a better day today because the stock market is getting whammo’d (due to oil) and people are pulling their funds from stocks to seek the safety of bonds (such as mortgage backed securities).

Yesterday, one of the lenders I work with issued 4 rate sheets (intraday rate changes). It’s an amazing time to be in this industry!

]]> By: Q-diddy http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319446 Q-diddy Wed, 11 Jun 2008 16:15:05 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319446 I agree with you Rhonda. People should be aware that rates are still at historically low levels. Banks won't and can't loosen underwriting standards...there's still to much uncertainty on performance. Until losses become more predictable we will continue to experience contraction. I agree with you Rhonda. People should be aware that rates are still at historically low levels. Banks won’t and can’t loosen underwriting standards…there’s still to much uncertainty on performance. Until losses become more predictable we will continue to experience contraction.

]]> By: Rhonda Porter http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319441 Rhonda Porter Wed, 11 Jun 2008 13:24:29 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319441 Alec, inflation has a negative impact on bonds (such as mortgage backed securities) so I think we're going to continue to see interest rates rise. With how "burned" lenders have become in the "mortgage meltdown" I don't think they'll be in a huge hurry to lower the existing credit scoring models. I do think this is going to create more opportunities for FHA financing. Alec, inflation has a negative impact on bonds (such as mortgage backed securities) so I think we’re going to continue to see interest rates rise.

With how “burned” lenders have become in the “mortgage meltdown” I don’t think they’ll be in a huge hurry to lower the existing credit scoring models. I do think this is going to create more opportunities for FHA financing.

]]> By: Alec Bobdon http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319433 Alec Bobdon Wed, 11 Jun 2008 09:16:02 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-319433 I think that the never ending recent increase in oil prices will have a knock on affect to the price of goods, increased inflation. People will have less disposable income and I think for the normaly conscientious middle class household will have a much less confident outlook, and fewer people looking to move to larger properties, which will mean that the banks will have fewer customers. This, and lower economic growth will both lower interest rates. ultimately will have a knock-on effect with the people's capacity to borrow, which will have a knock on effect with the ecomony and the profits of bank and mortgage lenders. Interest rates would therefore go down over the next 12 months to counter the anti-growth effect of higher oil prices and it wouldn't surprise me if mortgage lenders revised their credit score rating system either. I think that the never ending recent increase in oil prices will have a knock on affect to the price of goods, increased inflation. People will have less disposable income and I think for the normaly conscientious middle class household will have a much less confident outlook, and fewer people looking to move to larger properties, which will mean that the banks will have fewer customers. This, and lower economic growth will both lower interest rates. ultimately will have a knock-on effect with the people’s capacity to borrow, which will have a knock on effect with the ecomony and the profits of bank and mortgage lenders. Interest rates would therefore go down over the next 12 months to counter the anti-growth effect of higher oil prices and it wouldn’t surprise me if mortgage lenders revised their credit score rating system either.

]]> By: Welcome NYT’s readers! | Seattle's Rain City Real Estate Guide http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-316808 Welcome NYT’s readers! | Seattle's Rain City Real Estate Guide Thu, 01 May 2008 06:15:54 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-316808 [...] The Difference between a 679 and a 680 Credit Score [...] [...] The Difference between a 679 and a 680 Credit Score [...]

]]> By: Rhonda Porter http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314958 Rhonda Porter Fri, 25 Apr 2008 14:48:02 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314958 <p>Kary, there was a time in recent history when you could almost predict with some certainty what rates may do in the next week, for example the Jobs Report comes out next Friday. However, MBS (or should I say bond traders) are not reacting as predictable as used to be. </p> <p>We are in a historic time in the mortgage industry and rates are very volatile. </p> <p>If I had my feet to the fire, I would GUESS that rates are going to increase over the next 6 months due to inflation. I don't enourage people to play the "rate game" in this market (or really any). </p> Kary, there was a time in recent history when you could almost predict with some certainty what rates may do in the next week, for example the Jobs Report comes out next Friday. However, MBS (or should I say bond traders) are not reacting as predictable as used to be.

We are in a historic time in the mortgage industry and rates are very volatile.

If I had my feet to the fire, I would GUESS that rates are going to increase over the next 6 months due to inflation. I don’t enourage people to play the “rate game” in this market (or really any).

]]> By: Kary L. Krismer http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314940 Kary L. Krismer Fri, 25 Apr 2008 14:05:02 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314940 Rhonda, well at least we know Ardell isn't getting her interest rate information from you when she does her real estate price predictions ;) :D Now let's just wait for the 120 posts complaining that you don't pretend be be able to predict the future. We already have the first one. Rhonda, well at least we know Ardell isn’t getting her interest rate information from you when she does her real estate price predictions ;) :D

Now let’s just wait for the 120 posts complaining that you don’t pretend be be able to predict the future. We already have the first one.

]]> By: Rhonda Porter http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314917 Rhonda Porter Fri, 25 Apr 2008 12:47:50 +0000 http://raincityguide.com/2007/12/03/the-difference-between-a-679-and-a-680-credit-score/#comment-314917 Alec, when you find a crystal ball for mortgage interest rates in this market that will show 6 months into the future, please come back to Rain City Guide and let us all know. Here's my prediction: in 6 months, rates will be higher, lower or the same. Major lenders are currently averaging between 2-3 rate changes PER DAY. Alec, when you find a crystal ball for mortgage interest rates in this market that will show 6 months into the future, please come back to Rain City Guide and let us all know.

Here’s my prediction: in 6 months, rates will be higher, lower or the same.

Major lenders are currently averaging between 2-3 rate changes PER DAY.

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