Thursday, September 12, 2013

The flippers are toast.

I was looking through the mortgage rates today. The aggregate being about 4.60%. If you have super good credit you might be able to do 4.42%. Why is this important? Houses you do not live in are a full point higher. That means a person flipping a house would pay 5.42% or more depending on their credit history. Still low by historical standards. But those guys have to be shitting their pants a little.

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