Hard Money Rates Likely to Drop!

[Curtis Bidwell]

Bloomberg did an article with a provocative title: House Flippers Are Back With Wall St. What could Possibly Go Wrong?  That was the catch, not the substance.  

http://www.bloomberg.com/news/articles/2015-05-08/...

The point was simply that bigger investment firms are seeing an opportunity with flippers and want to get in on the game, helping to drive interest rates and points down.  

I am currently being offered 12% with 5 points locally. (You get a 1-2 pt discount on points if you pay off within 45 or 60 days).  The article talks about rates at 10% with 2 points!  

The down side is the bigger guys take a bit longer to fund, where you can fund in less than a week locally.

What terms are you seeing in your market? And are you seeing this competition affecting your rates the last few months?