9 Surprising Facts About Your Credit Score (U.S. News & World Report)

U.S. News & World Report – A solid credit history and excellent FICO credit score – typically 750 or above — are extremely valuable. A high credit score can save you tens of thousands of dollars in mortgage interest, lower your auto insurance premiums, and even help you land your next job. For all their importance, however, a lot of confusion surrounds credit reports and scores. To take some of the mystery out of these important financial tools, here are 9 facts about credit reports and scores that might surprise you.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Mortgage rates at lowest point since mid-1950s (AP)

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)AP – Mortgages are cheaper today than they’ve been in a half-century. If only most people had the job security, the credit score and the cash to qualify.

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Financial Overhaul 101: Targeting risky mortgages (AP)

AP – They were at the root of the financial crisis: Risky home loans made to borrowers with poor credit. And “liar loans” that let people with little incomes get big mortgages they couldn’t repay.

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Financial Overhaul 101: Targeting risky mortgages (AP)

AP – They were at the root of the financial crisis: Risky home loans made to borrowers with poor credit. And “liar loans” that let people with little incomes get big mortgages they couldn’t repay.

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Financial Overhaul 101: Targeting risky mortgages (AP)

AP – They were at the root of the financial crisis: Risky home loans made to borrowers with poor credit. And “liar loans” that let people with little incomes get big mortgages they couldn’t repay.

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