House flipping surge this summer

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(KTVI) - A surge in house flipping resurface this summer. Investors are jumping in to take advantage of home price appreciation.  Buy low, fix up and sell high and profit.

Mortgage rates are also on the rise so refinancing is falling. That may be why Wednesday's Wells Fargo laid off 126 St. Louis consumer mortgage employees and more than 163 elsewhere.

Mortgage lender Dan Suggs talks about what's going on.