Markets & EconomyMortgage

LendingTree finds Illinois down payments among least affordable

Nationally, the down payment amount has increased on a quarterly and annual basis

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

LendingTree recently released its down payment report November 18, which found the average down payment amount rose quarter-over-quarter to $48,924. The online loan marketplace found average down payment percentages for conventional 30-year fixed-rate mortgages rose to an average 17.63 percent in quarter three from 17.34 percent in the previous quarter and 16.29 percent from the third quarter of 2014. "During the third quarter, the housing market thrived in certain markets as consumer demand outweighed supply," said Doug Lebda, founder and CEO of LendingTree, in a statement. "For potential buyers who are eyeing the market today, rates are beginning to trend upwards as we inch closer to the new year and a potential Fed rate hike." LendingTree Report: Down Payment Affordability Q3 2015 (PRNewsFoto/LendingTree) Ranked no. 38 for down payment affordability, Illinois slid back one spot in the ranking for conforming loans from Q2 to Q3, but upticked one spot to no. 43 for total pur...