Special offer

Buy-and-rent investors get squeezed

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
January 20, 2014  6:30 AM PST 

  

STOCK AND BOND MARKETS ARE CLOSED ON MLK DAY
 
LOCK ADVISORY

7 Day Mortgage Interest Rate lock or Float Advice: LOCK

The cost for a 4.00% rate based on Mortgage Backed Securities is down 0.09 point

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK 

 

MARKET INDICATORS    

  • Freddie Mac National Average: 30-Yr Fixed Mortgage Rate down 0.10% to 4.41% on Jan. 16
  • MBS (4%) - Closed Friday 104.08, High: 104.17, Low: 103.88
  • DJI Stocks Closed Friday $16,458.56, Up $41.55, Change 0.252%
  • Asian & European Stock Market Indexes changed -0.172%
  • Crude Oil (WTI) Currently $93.90 - Change -0.5%
  • Gold 1 Once - $1,255.50 
REAL ESTATE & MORTGAGE NEWS

 

Buy-and-rent investors get squeezed 
By Les Christie - It's getting harder to make a bundle buying up foreclosures and renting them out.
The auction prices of homes climbed faster than rents in 2013, so returns on investment dropped, according to a report from CoreLogic.
]
That's a change from the past several years. In many cities where mortgage defaults spiked after the housing crash, investors were able to buy foreclosed homes at prices so low they were able to make big rental profits.>>Read More