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Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums for auto, homeowners, renters and life insurance policies.
Kreidler recently reached out to insurance company CEOs in a letter and urged them to stand behind their recent pledges to end discrimination and racial inequities by supporting his proposal to ban the unfair practice of using credit scoring in setting prices for auto, homeowner’s, renter’s and life insurance.
Two months ago, I wrote a column with the headline “Don’t Expect Mortgage Rates to Drop Much More.” At the time, the average for a 30-year fixed loan was near its record low of 3.23% but still much higher than what might be expected, given the going yield of 0.7% on benchmark 10-year U.S. Treasuries.
Simona Roganovic is worried about how she’ll resume paying her mortgage once the extra $600 that Americans get in weekly unemployment benefits expires at the end of July. The enhanced money has given her family a lifeline.
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