Home flipping, buying a property with the intent to sell it in a short period of time at a profit, is more popular than almost ever , but a study by CoreLogic finds it has morphed into a different kind of business. Flippers are tending to hold on to property longer, and to add value rather than relying only on rates of appreciation. For the purposes of its study on the subject, CoreLogic used a two-year period to define a flip rather than the 12-months commonly employed. It did this to match the Internal Revenue Service's threshold for when real estate holdings can be considered owner-occupied and thus eligible for those capital gains exceptions. The longer holding period also makes a property eligible for the long-term rather than the higher short-term capital gains tax rate. Flipping has

April 25, 2019 Download our Mobile App: Download our Mobile App: Housing News Flipped Home Market Share Surpasses 2006 Levels, But Things Are Different This Time Home flipping, buying a property with the intent to sell it in a short period of time at a profit, is more popular than almost ever , but a study by CoreLogic finds it has morphed into a different kind of business. Flippers are tending to hold on to ... (read more) Rob Chrisman Warehouse, Underwriting Products; Agency News; Capital Markets Update In low down payment and HFA news, HUD, dba the FHA, has agreed to a 90-day stay in implementation of Mortgagee Letter 19-06 (regarding down payment assistance) to have a 90 day comment period. The flurry reminded the industry that there are lots of o... (read more) MBS Commentary MBS Live Day Ahead: Bonds Making Case For Friendly Bounce But Data Could Disagree Here's a quick recap of the past year or so.  Bond yields were near long-term highs in the first part of 2018 following the passage of the tax bill and generally strong economic data.  Rates surged to even higher long term highs in Octobe... (read more) Housing News March's Low Rates Caused a Spike in Refis The declining interest rates earlier in the year along with increased refinancing made themselves felt in March as prepayment activity surged. Black Knight, in its "first look" at the month's mortgage data, notes the rate rose 28 percent compared to ... (read more) Mortgage Rate Watch Mortgage Rates Are Actually a Bit Lower This Week Mortgage rates held fairly steady today with the average lender unchanged to just slightly higher on the day. That's fairly good news considering yesterday marked the lowest rates in more than a week. Despite these facts, anyone searching the interne... (read more) MBS Commentary MBS Live Recap: Global Growth Concerns Helping Bonds Here come those "global growth concerns" again!  It's nothing too huge or scandalous, but today's scorecard offered several anecdotes that fueled a downbeat global growth narrative.  These ranged from things as obscure as Australian in... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 6:16AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 6:16AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Calculated Risk Blog Merrill April Employment Report Forecast: 250K, 3.7% Reuters Morgan Stanley to pay $150 million to settle California mortgage securities charges NAHB Eye on Housing Homeownership Rate Dips to 64.2% Reuters Corporate profits and U.S. economy chug along, defying recession fears Reuters Homebuilder Horton avoids 2019 margin forecast, raises cost worries Bloomberg Where U.S. Millennials Are Moving to Most Calculated Risk Blog Kansas City Fed: "Tenth District Manufacturing Activity Grew More Modestly" Calculated Risk Blog HVS: Q1 2019 Homeownership and Vacancy Rates Calculated Risk Blog Weekly Initial Unemployment Claims Increased to 230,000 Reuters Fed done raising rates; cut by end-2020 growing more likely: Reuters poll Reuters D.R. Horton 2019 home sales forecast largely below estimates Bloomberg Bonds Can't Seem to Shake That Sinking Feeling Bloomberg Mortgage Traders Breathe Easier as the Risk of a Refinancing Wave Ebbs

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