The 30-year fixed mortgage rate was at a whopping 7.07%, and the refinance rate for the same term was at 7.16% as of Tuesday. The pivotLuther said that one alternative property owners are increasingly turning to is midterm rentals, or terms longer than two weeks or 30 days. Luther added that one of the most significant advantages of midterm rentals is having a month-to-month lease with tenants. Investors can also secure the loan under an LLC instead of their names, unlike a 30-year fixed conventional loan, she said. So you should plan on keeping the property for the loan term.

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Persons: Suzanne Luther, It's, Luther, we've, they're, Barnes, Louis Children's, there's, aren't, it's Organizations: FasterFunds, Newsweek, Jewish, St, Louis Children's Hospital, Dominion Financial Locations: St, Louis , Missouri