For homebuyers, an anomaly in down payments

Less may be more in the current market

By Bob Tedeschi / The Bulletin
September 8, 2009

Homebuyers are often advised to come up with at least a 20 percent down payment, or face the likely additional expense of private mortgage insurance. But this year, at least, that counsel would not have saved them as much money as in the past.

Rules put in place in late 2008 by Fannie Mae and....

Read complete article