The share of investor purchases of U.S. homes have climbed to an all-time high, a sign that rising home prices have done little to dampen demand for flipping homes or turning them into single-family rentals. Big private-equity firms, real-estate speculators and others that buy properties comprised more than 11% of U.S. home purchasers in 2018, according to data released on Thursday by CoreLogic Inc. The investor purchases are the highest on record and nearly twice the levels before the 2008 housing crash. The investor interest poses a challenge for millennials and other first-time buyers who are increasingly looking to buy starter homes and are forced to compete with deep-pocketed cash buyers.

Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, giving a major boost to the number of borrowers who can benefit from a refinance.

The average rate on the 30-year fixed mortgage hit a three-year low of 3.73% last week, according to Freddie Mac. That means 8.2 million borrowers could refinance and lower their interest rates by at least 75 basis points, estimates Black Knight, a mortgage software and analytics company. It’s the largest group since the end of 2016.

Being self-employed has many advantages and perks but it can put your at a disadvantage if you are trying to become a homeowner. In fact, to qualify for a loan you will be required to apply using your net income as opposed to salaried consumers who use their gross income. While not a show-stopper, it is something to consider when beginning the home purchase process.