Do Ohioans maintain good credit, report reveals truth
Victor Correia
Ohio ranks just above the national average for making payments on time.
- Staff Dayton Business Journal
Like getting your loans repaid? Ohio residents are a mixed bag in that regard. The state ranks just above the national average for making payments on time.
That’s according to the Federal Reserve Bank of New York, which just published a national survey of “community credit” -- an idea of measuring the economic health of regions by surveying the credit status of households.
A map in the report shows, by state, the percentage of households with loans whose payment history is current for each of the past four quarters.
The national average is 79.2 percent, and Ohio sits at 79.7 percent.
Stronger credit scores can lead to increased home and vehicle sales in a state, as those folks can more easily secure a loan.
North Dakota leads all states with a 87.2 percent payment history. On the flip side, Mississippi is last at 70.3 percent.
References
- ^ Click here for more information (www.newyorkfed.org)