Dive summary:

• Housing is coming back in a  market where buyers are more creditworthy, on average, than they have been in the past 12 years, according to data compiled by the Federal Reserve Bank of Atlanta.
• The same data, taken from Home Mortgage Disclosure Act (HMDA) filings, say the median credit score for a mortgage borrower is up 40 points since 2006.
• In saying that income information appears to be more accurately reported than in the recent past, the Fed did not miss a chance to offer a safe conclusion: "Comparing home-purchase borrower incomes reported in the HDMA data with income reported by homebuyers in household surveys suggests that incomes on mortgage applications were likely significantly overstated during the peak of the housing boom."

From the article:

Current homebuyers credit worthiness is the highest in 12 years, with the median credit scores of mortgage borrowers rising 40 points since 2006, reported Federal Reserve Bank of Atlanta researchers from data received under the Home Mortgage Disclosure Act. ...