Quote of the Week
"I admit that I live in the past, but only because housing is so much cheaper" - Matt Wohlfarth
Mortgage Lending 101
In part three of our Real Estate Video Series, Barry visits with Kelly Richardson, a Vice President and Mortgage Loan Officer with First National Bank in Pulaski, TN to talk about the home loan process. In this video, Barry and Kelly discuss the documents needed to apply for a loan, how PMI comes into play, what your credit score means, what to be aware of when it is time to close, and the realistic time expectation for obtaining a loan. Thanks again to Kelly and First National Bank for partnering with us on this video! If you missed the first two episodes in our real estate series, click here to watch our video with Drew Johnson on the buyer's side of the market, and here to watch our video with Jason Hilbelink on the seller's side of the market.
Ford Unveils Electric F-150
The most popular vehicle in America now has an electrical counterpart. On Wednesday, Ford released its all-electric F150, titled "Lightning". The truck, which you can see below, will be available in 2022 and start at $39,974. According to NPR, it could be the cheapest electric pickup confirmed so far when you factor in federal tax credit. The F-150 will have a range of 230 or 300 miles, depending on the battery, and will not compromise on towing, according to CEO Jim Farley.
Housing Starts Declined 9.5% In April
In keeping with our real estate series, new housing starts declined to a 1.569 million annual rate in April, which was entirely due to single-family starts. In total, starts are up 67.3% versus a year ago, according to First Trust. Numbers appeared to be down due to supply chain constraints for lumber and lack of qualified workers in the construction space. Even so, new builds have the potential to increase going forward due to demand, building backlogs, and low interest rates.
Any opinions are those of Barry McCall, Steve Alverson, and Austin Coley and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. This is not a recommendation to purchase or sell the stocks of the companies pictured/mentioned.
Raymond James is not affiliated with Kelly Richardson or First National Bank.