Mickey Clinard, Renasant Mortgage Lending, NMLS #1028446

Foreign Funds

For the year end 3/24, foreigners purchased 54,300 homes, down 36% Y-o-Y, and the lowest number since recordkeeping began in 2009. The biggest impediments; a strong dollar and limited inventory. Dollar volume fell 21% to $42 billion despite an average price of $780,300/median price of $475,000, the highest on record. Sales volume peaked in 2017 at $153 billion when sales approached 300,000. Florida was #1 with 20% of purchases.

Elliott F. Eisenberg, PhD
www.econ70.com

FHFA House Price Index (1Q 2024)
U.S. house prices rose 6.6 percent between the first quarter of 2023 and the first quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index, with strong growth seen in states across the country. FHFA noted that “the low inventory of homes for sale continued to contribute to house price appreciation despite mortgage rates that hovered around 7 percent.”

📢 Escambia County is encouraging residents to participate in both of Florida's 14-day Disaster Preparedness Sales Tax Holidays, June 1-15 and Aug. 24-Sept.6.

👉 Learn more: https://bit.ly/4bKwq9R

Great insurance industry update. Don’t miss it!!

👏Discover how recent legislative changes are positively impacting insurance rates and how carriers are responding to those changes! May 9 at 9am at the PAR office.

Register in your PAR member portal:https://pnsa.rapams.com/scripts/mgrqispi.dll?APPNAME=IMS&PRGNAME=IMSMemberLogin&ARGUMENTS=-APAR

New Home Sales (March 2024) - MBS Highway

After falling in February, signed contracts on new homes rebounded in March, up 8.8% for the month and 8.3% compared to March of last year. The shortage of previously-owned homes for sale continues to drive demand for new construction even in the face of elevated mortgage rates.

Empowering youth through golf, the First Tee Gulf Coast hosts its 7th Annual Golf Ball. I am honored to be a Board Member of this outstanding organization. Thank you to all who attended!

See below to learn more about Renasant's Construction to Permanent Loan and call me with any questions.

Home builder confidence broke above the key breakeven threshold of 50 and into positive territory for the first time since last July, with March’s reading also the fourth consecutive monthly gain. The NAHB noted that the lack of existing homes for sale, strong buyer demand, and rates below last fall’s peak all helped push builder confidence higher. - Home Builder Sentiment (March 2024)

The strong, upward trajectory the MBS Highway National Housing Index experienced over the prior three months paused in March 2024, as mortgage rates reversed course and moved back above 7%. There was significant regional variation, however, with the Northeast and Mid-Atlantic regions getting even hotter, while the Southeast and Southwest regions lagged. - MBS Highway Housing Index (March 2024)

What's better: buying or renting? To answer that question, you have to consider all the costs and benefits of homeownership over your time horizon. A simple comparison of monthly payments just doesn't cut it. If you've been thinking about buying your own place, let me show you how the numbers really pencil out.

Ready to plant your roots this spring? Start the pre-qualification process on my website today so that you'll be ready to spring into action when your dream house hits the market! MickeyClinard-Renasant.com

Interesting facts about leap year. Never knew this.

Long Leap

The Earth takes exactly 365.24219 days to rotate around the sun. Adding an extra day every four years makes the average length of a year 365.25 days, slightly too much. The Gregorian calendar eliminated leap days in years ending in 00 and that made the average year 365.24 days, a bit too short. The solution: add a leap day in years divisible by 400 which makes the average year 365.2425.

Credit: Elliot F. Eisenberg, PhD

Did you know Renasant Mortgage can handle mortgage loans in more states than just where our offices are located? Check out the map below to see where I can assist you with your next mortgage. Contact me today to learn more!

VA home loans can help make home buying possible for those who serve. There are even renovation and refinancing options available too. Contact me to learn more.

New Home Construction (January 2024)

Housing Starts hit a five-month low in January, as both single-family and multi-family construction declined when compared to December. However, the NAHB expects construction of single-family homes to rise this year and there are signs to support this. Single-family Building Permits (which reflect future construction) were at their highest level in a year, up 35.7% when compared to January 2023.

February 2024 witnessed a massive increase in the MBS Highway National Housing Index, which rose 13 points to 55 (from 42 in January 2024). This was driven primarily by a 16 point jump in the Buyer Activity sub-index (from 33 to 49). While part of this increase is normal seasonality, there is little doubt that buyers have been reenergized by lower mortgage rates, slightly higher inventory, and the prospect of Fed rate cuts ahead.

Get your tickets now to support a great organization!

Only TWO MONTHS until our 7th Annual Golf Ball Gala!
Tickets and Sponsorships are available online https://trst.in/ujt0eY
We're excited to see you all there for another amazing year!
Court Of De Luna Event Space
For further questions, please call our office at 850-456-7010
All proceeds benefit First Tee Gulf Coast
#2024

Talk about a winning record! Buying a home and holding it for 10 years has earned a profit every year except one since 1942. Just look at those returns, too! Housing builds significant, long-term wealth.

Happy Mardi Gras to all of my friends and colleagues!

The path to a new home starts here. Get pre-qualified today - www.mickeyclinard-renasant.com

Be bold. Get pre-qualified. Make the offer.

Visit my website to get started today - www.mickeyclinard-renasant.com

Don't be blindsided by unexpected fees and costs during the home-buying process. Let me help you dodge the punches. Reach out to me today to learn more.

When choosing a builder or contractor, ask for not only people's recommendations, but also for examples of their work.

Have questions about building a home? Reach out to me today!

Interesting article from NAHB that shows increasing prices for building materials finally slowed down in 2023. A good sign for home builders and potential new homeowners in 2024.

Building Materials Price Growth Plummets in 2023 According to the latest Producer Price Index report, growth in the average price level of building materials fell from 15% in 2022 to 1.3% in 2023.

With more than 20 years' experience in the industry I am a seasoned expert in the intricate landscape of mortgage lending, ensuring that my clients receive not just financial solutions, but a strategic partner in their homebuying endeavors.

Specializing in construction lending, I pride myself on facilitating seamless processes that align with the dynamic nature of building projects. Whether you're embarking on a new home construction or a renovation, my extensive background allows me to navigate the intricacies of construction loans, ensuring a smooth and efficient experience for my clients.

Moreover, for the self-employed individuals seeking mortgage solutions, my tailored approach recognizes the distinctive financial profiles of entrepreneurs. I understand the challenges and nuances that come with self-employment, and my expertise enables me to offer personalized lending options that cater specifically to your needs.

As your trusted guide in the realm of mortgage lending, I am committed to providing not only financial expertise but also a supportive partnership throughout your homeownership journey. Your dreams of a new home or a construction project are in capable hands – let's turn them into a reality together.

Call me if you’ve found a home that’s not quite perfect for you.

Don't let a sagging deck or an outdated kitchen keep you from choosing the perfect home for you and your family. With the Renasant Renovation and Repair Loan, you can fulfill the potential of any property by financing renovations at mortgage-like interest rates with flexible credit requirements.

Whether you’re searching the market for your future home, or just have a few projects you want to knock out around your current one, a Renovation and Repair Loan can help you get started today. Learn more here - https://www.renasantbank.com/mortgage/renovation-and-repair.

Merry Christmas to all my friends, coworkers and clients. I am thankful for all of you.

Conforming loan limits are increasing again in January. Call me to learn how this might affect you when you got to purchase or build your new home.

Visit RenasantMortgage.com to find a local Mortgage Banker near you to learn more.

Proud to work for one of the Top 20 Mortgage Banks in the country.

We're proud to announce that Renasant Mortgage Lending was named a Top 20 bank for total mortgage volume in Q3-23. Click the link to learn more - https://www.nationalmortgagenews.com/list/20-banks-with-the-largest-mortgage-origination-volume-in-q3.

Congratulations to the entire mortgage team and their hard work to help more families find their way home!