Florida, U.S. Credit Scores Continue to Edge Lower
Credit scores across Florida slipped over the past year, raising borrowing costs for buyers and limiting refinancing or equity borrowing for homeowners.
NEW YORK – Credit scores declined in every U.S. state over the past year, a shift that could have real consequences for homeowners and buyers planning ahead.
According to a WalletHub analysis, average credit scores fell nationwide between the third quarter of 2024 and the third quarter of 2025, with the largest drops seen in states that include Delaware, Georgia and Missouri.
Florida’s average credit score fell about 1.16%, placing it among the larger declines nationally, though not the single worst state.
The report suggests missed or late payments, rather than rising debt levels alone, are driving the trend. For homeowners, lower credit scores can translate into fewer refinancing options, higher mortgage rates and more expensive home equity borrowing at a time when borrowing costs are already elevated. Insurance premiums may also be higher, as many insurers factor credit history into pricing.
"With mortgage rates already elevated, a falling credit score can make purchasing a home even more expensive by pushing you into a higher rate tier and increasing the interest rate you qualify for," Leslie H. Tayne of Tayne Law Group, said.
Experts offered homeowners and buyers some tips for protecting a credit score, including:
- Keep credit card balances low
- Don’t open or close lines of credit unless absolutely necessary
- Set up automatic payments on bills
Source: Realtor (01/26) Baluch, Anna
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