According to a recent Experian study, women lead the pack in how their mortgage debt is managed, even though they generally earn less income (approximately 23% less than their male counterpart). It seems that men are taking out bigger individual mortgage loans (4.9% higher), but are also having more difficulty paying those loans on time, with delinquency rates 17.5% higher than women borrowers. Men were also more likely to hold mortgages independantly, though 72% of home owners hold joint mortgages.
Seeing how men & women approach credit is interesting, but what is more important is understanding the value of having good credit. Did you know you are able to check your credit score annually without having any negative effect on your score. There are many reliable websites to get free credit reports. It’s important to not only pay your bills on time, but also underutilize your credit cards & check your reports often for errors.