Housing Predictions For 2015 – Blue Home Loans Inc. Weighs In

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Blue Home Loans, Inc. takes a look at five predictions for housing in 2015 from Realtor.com® and offers some insight for the homeowners and buyers of California.

Blue Home Loans, Inc. is a full-service California mortgage service that has been helping its clients to find the best home loan rates and mortgage programs for many years. The team at Blue Home Loans, lead by father and son – Robert and Brandon Blue, is dedicated to serving the people of California with honesty, integrity, and competence. Now, with 2014 nearing its end, the mortgage company takes a look at some of the housing predictions for 2015 and offers advice for those with home loan plans for the near future.

An article from Realtor.com®, posted this December 4th, offers five housing market predictions for the coming year. This report says, “A new year is about to dawn—and the outlook on the housing market is definitely brighter. After all, 2014 was the best year in the U.S. economic recovery since the recession of 2008-2009. With an accelerating economic recovery fueling job and income growth, prospects are good for homeowners and would-be home buyers.”

So what will 2015 have in store for housing? The five predictions that the Realtor.com article lists are that:

1.    Mortgage rates will head back up.
2.    Millenials will set up house.
3.    Builders will break new ground.
4.    Credit will continue to be a major factor, and…
5.    The closing out of the foreclosure crisis.

Blue Home Loans explains that while a few of these predictions may not seem like good news for those with homeownership plans in mind, they mostly bode well for the housing industry as a whole. For example, while mortgage rates are predicted to go up in 2015, this is largely due to the improving economy and the “higher-but-still-reasonable” interest rates will balance out the better job and income growth that has been seen this year and that will hopefully continue into the year ahead. Concerning this prediction, the article says,

“Although the Fed might wait as late as early 2016, realtor.com® Chief Economist Jonathan Smoke suggested the increase will come in mid-2015, and mortgage rates will increase ahead of the Fed’s move. ‘Our forecast for housing assumes the 30-year fixed rate will reach 5% by the end of 2015,’ Smoke said. ‘The one-year adjustable rate will likely rise less if much at all, and accordingly, we are likely to see a shift into more adjustable and hybrid mortgages over fixed.’”

While the rate hike will certainly not be the end of the world, Blue Home Loans’ advice for those who are ready for a home loan but have not quite committed to it yet is to not dawdle too long. Current mortgage rates are still very near the lowest levels that they have been all year, and there is some potential that they could go even lower. The right mortgage program mixed with these low mortgage rates could save a homeowner thousands of dollars on their home. For those with home buying plans for 2015, the mortgage company strongly advises that now is the perfect time to fix credit and start looking up home loan options so that they will fully prepared when they start their house-hunt next year.

Blue Home Loans can help California homeowners and buyers; both those who wish to take advantage of today’s best California mortgage rates and those who are seeking to get their financial house in order so that they will be able qualify for and benefit from the best mortgage rates and programs in the year ahead. The Blue Home Loans website states, “We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs."

For more information on how Blue Home Loans can help California home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueHomeLoans.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.

California Bureau of Real Estate -- BRE #01938557 NMLS #1162386

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Brandon Blue
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