The 30-year fixed-rate mortgage (FRM) averaged 3.10%, unchanged from last week, according to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac.
Mortgage applications increased 1.8% for the week ending Nov. 19, 2021, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.
The refinance share of mortgage activity increased to 63.1% of total applications from 62.9% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 3.4% of total applications.
(TNS)—Not all houses are created equal. In any given price range, every property you’re going to look at will have its pros and cons. This applies even more so if you’re considering a home that was recently renovated by a flipper.
You certainly don’t need to avoid properties that are being flipped, but there are some things to watch out for if you’re looking at one.