alt Hacker NewsThe irony is that it does not even really matter anymore at this stage, especially with mortgages. So you get a few points taken off because you have 800 vs 600 score, but it won’t really make a difference when both are on the same out of control roller coasters where house prices have increased by 100% in 7 years.
US home prices haven't increased by 100% in 7 years. On a national basis, the Case-Shiller index has only increased by 65% (nominal dollars, not inflation adjusted).
https://fred.stlouisfed.org/series/CSUSHPINSA
In the short term, the difference in mortgage interest rates between prime versus subprime loans can have a major impact on borrower cashflow and the type of property they can afford.