Down Payments Rise From Pre-Pandemic Era—but You Don’t Need To Put Down as Much as You Think
Higher home prices and mortgage rates aren't the only rising numbers in the housing market post-COVID-19. The average down payment for a median-priced home has increased significantly since pre-pandemic days. Climbing mortgage rates and market dynamics are driving buyers to put more money down, with the pandemic leading to a rise in down payments. Despite the increase, it's not necessary to have a full 20% saved to buy a home.
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