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: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Apr 25, 2019 Mortgage Rates Are Actually a Bit Lower This Week Thu, Apr 25, 2019 4:38PM 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 internet for mortgage rate news today is likely to encounter convincingly-worded articles claiming that rates are HIGHER this week. So which one of us is lying to you? In fact, no one is lying. This is something that runs the risk of happening on any given Thursday when Freddie Mac releases its weekly mortgage rate survey. For whatever reason, their surve... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.77 +0.18   95.05 100.47 UMBS 30YR 5.5 101.19 +0.16   97.47 101.61 10 YR Treasury 4.051 -0.030   3.706 4.780 MBS Live Day Ahead: Bonds Making Case For Friendly Bounce But Data Could Disagree Thu, Apr 25, 2019 10:35AM 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) MBS Live Recap: Global Growth Concerns Helping Bonds Wed, Apr 24, 2019 5:15PM 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 inflation data and a modest miss in German business sentiment to more logically bearish things like a massive do... (read more) MBS Price Change UMBS 4.5 97.79 +0.17 UMBS 5.0 99.78 +0.20 UMBS 5.5 101.20 +0.17 GNMA 4.5 98.16 +0.14 GNMA 5.0 100.05 +0.23 GNMA 5.5 101.06 +0.17 Pricing as of: 9/18 4:41AM EST US Treasury Yield Change 2 YR Treasury 3.523 -0.041 5 YR Treasury 3.616 -0.040 7 YR Treasury 3.801 -0.038 10 YR Treasury 4.048 -0.033 30 YR Treasury 4.645 -0.043 Pricing as of: 9/18 4:41AM EST Other News Flipped Home Market Share Surpasses 2006 Levels, But Things Are Different This Time Thu, Apr 25, 2019 2:13PM 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 s... (read more) March's Low Rates Caused a Spike in Refis Thu, Apr 25, 2019 8:14AM 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 February. It was the largest single-month increase in 2.5 years although the rate prepayment rate , 0.84 perce... (read more) Warehouse, Underwriting Products; Agency News; Capital Markets Update Thu, Apr 25, 2019 9:22AM 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 options out there for low down payment loans. For example, Wells Fargo’s retail arm offers its 3% down &l... (read more) 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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