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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
Housing News
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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)
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Rob Chrisman
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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)
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MBS Commentary
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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)
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Housing News
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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)
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Mortgage Rate Watch
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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)
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MBS Commentary
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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)
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