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.