Experian is one of the three primary credit score companies for consumers.
image via The Street

The Street's Brian O'Connell writes about how a great credit score helped a 23-year-old young professional in New York City successfully took out a home loan, even with minimal money down.  The story has demonstrated that millennials do have a chance of entering the home market and realizing the American dream.  

And the good news is, Americans on average are in pretty good shape in terms of credit scores. According to a 2015 State of Credit study released by Experian, a global information services firm, the U.S. consumer credit score--based on the cumulative averages of American adults--is 669, very close to the reading of 700, which is considered as a very good number by many credit experts. 

O'Connell quotes Michele Raneri, Experian's vice president of analytics and new business development: 

"I'm optimistic about the state of credit as we are seeing more loans being extended, late payments are decreasing and consumers are continuing to gain more confidence in originating loans...There definitely is growth and momentum - we're back to pre-recession levels in nearly every category, which means lenders are in a prime position to capitalize on this market and foster business growth."

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