| The Monthly Mortgage Supplement | October 2015 |  |
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| Homeowners with bad credit may pay twice as much for homeowner’s insurance |
| A new study by insuranceQuotes.com found that in 38 states and Washington, D.C., homeowners with poor credit pay at least twice as much for homeowner’s insurance than people with excellent credit. The study also found that people with median credit pay an average of 32% more than those with excellent credit. Three states prohibit insurers from factoring credit into homeowner’s insurance premiums: California, Massachusetts and Maryland. |
| “In most states, insurers are putting more emphasis on credit scores this year,” said Laura Adams, insuranceQuotes.com’s senior analyst. “It’s more important than ever for people to maintain a solid credit rating by paying their bills on time, keeping their balances low and correcting errors on their credit reports.” |
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| National Housing Market Data |
| The latest analysis of realtor.com data indicates the residential real estate market remained positive and healthy. The national median list price is now $232,000, up 7 percent year-over-year and virtually flat month-over-month. Median days on market are down 5 percent year-over-year and up 6 percent month-over-month at 75 days. |  |
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Quote of the Month
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| “Do the difficult things while they are easy and do the great things while they are small. A journey of a thousand miles must begin with a single step.” |
– Lao Tzu
Philosopher |
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