Freddie Mac's Primary Mortgage Market Survey reported the
national average 30-year fixed mortgage rate hit "the lowest level in its nearly
50-year history," as noted by their chief economist.
He added that mortgage applications are up 10% from a year ago "and show no signs of slowing down" and with "recent increases in new construction...the housing market continues to be a positive force for the broader economy."
Attom Data reports that flipped home sales in 2019 hit their highest level since 2006, yet returns hit an 8-year low. But the average gross profit on flips was still $62,900, a nice 40.6% return on investment (ROI).
Investors seeking safety sent bond prices through the roof. The UMBS 4.0% ended UP .50, at $105.77. As covered above, the national average 30-year fixed mortgage rate hit an all-time low in Freddie Mac's Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
He added that mortgage applications are up 10% from a year ago "and show no signs of slowing down" and with "recent increases in new construction...the housing market continues to be a positive force for the broader economy."
Attom Data reports that flipped home sales in 2019 hit their highest level since 2006, yet returns hit an 8-year low. But the average gross profit on flips was still $62,900, a nice 40.6% return on investment (ROI).
Investors seeking safety sent bond prices through the roof. The UMBS 4.0% ended UP .50, at $105.77. As covered above, the national average 30-year fixed mortgage rate hit an all-time low in Freddie Mac's Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
