US metros

A new study by LendingTree found that the average down payment on homes across 50 major U.S. metros has reached $46,283. As interest rates fell to historic lows and the housing market sizzled, high home prices led to larger down payments. Analysts at LendingTree calculated median down payments in the largest 50 U.S. metros and compared how expensive they were relative to their median annual household incomes. “An average down payment on a home costs at least $28,000 in each of the nation’s 50 largest metros,” they reported. In some markets it was almost four times that number. The most expensive cities peaked at over $100,000. San Jose had an average of $115,138 down, which amounts to 88% of the…