Double, Double Toil and Trouble; Home Mortgages in the Rubble

Posted on | October 31, 2018

All hail, mortgages, thou shalt continue to fluctuate!

A recent report collected from LendingTree found that the average down payment on a U.S. home fell in the third quarter. They focused on 30-year, fixed-rate purchase mortgages across the country – and noted that down payments decreased about 10%.

LendingTree also revealed the top ten highest and lowest down payment percentages across the country.

Ten Lowest Ten Highest
Alaska – 15.41% California – 21.44%
West Virginia – 15.44% Hawaii – 21.32%
Mississippi – 15.78% Delaware – 21.29%
Iowa – 15.80% Colorado – 20.44%
Arkansas – 15.90% New York – 19.85%
Indiana – 16.12% Washington D.C. – 19.84%
Kentucky – 16.20% Massachusetts – 19.72%
Alabama – 16.36% New Jersey – 19.62%
North Dakota – 16.45% Arizona – 19.49%
Ohio – 16.49% Nevada – 19.35%

 

What does this mean for those looking to get into the market?

If you’re looking to buy a home, now might be a good time to think seriously about it; lower down payments may help you if you’ve been discouraged from purchasing a home previously.

Don’t be like Macbeth and let fate decide – check AmeriTitle’s blog to stay ahead of real estate trends.

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