• This week’s slate of massively critical economic reports: Consumer Confidence, Inflation, Jobs & last Quarter’s GDP will definitely impact mortgage rates either upward or downward.

  • Housing news was unfortunately weak due to: tight inventories, increasing prices, and upward trending mortgage rates

  • Contrary to headlines, mortgage rates ended the week trending downward from previous week

    • Primary reasons: Political uncertainty in Italy, Geopolitical uncertainty between the US & North Korea & escalating trade dispute between US & China

Best Markets for Flippers

 

With home flipping coming back into vogue and home-flipping activity hitting an 11-year high, an analysis of data reveals that NashvilleTN is the hottest market for flippers. Music CityUSA saw 4.1% of total home sales were homes that were flipped for an average profit of $87,200! FresnoCAPalm BayFLNorth PortFL, and Baton RougeLA rounded out the top five. However, number seven, Los Angeles shows a top average profit of $169,400 per flip!

check out the PDF version of the Weekly Mortgage Newsletter here: WNL 5. 28. 2018

WMN- 5.28.2018