Tiered Pricing on Mortgages

With your credit score, every point counts. Most mortgage lenders use tiered pricing on mortgages, where interest rates rise as scores go down. Lenders set their own "break points" between tiers, so Lender A may bump up the interest rate if a score falls below 700, while Lender B doesn't charge higher rates until the score is 690 or below. If your lender's break point is 700, moving your score from 698 to 701 can be vital.