
Mortgage Rates Slightly Higher; Hottest Cities for House Flipping
Mortgage rates moved incrementally higher over the past week but are still treading in the shallow sub 4% water. And those favorable rates — along with a shortage of home inventory — are pushing house flipping to its highest level in two years. Freddie Mac’s just-released weekly survey of lenders shows the following average rates for the most popular home loan terms: 30-year fixed-rate mortgages averaged 3.66% with an average 0.5 point for the week ending June 2, 2016. A yea